Outdoor Power Equipment Market Size, Share & Segment By Type, By Product (Cordless Tools, Rope Power Tools), By Power-Source (Fuel-Powered, electricalal-Powered), By Application (Commercial, Residential, Power Source -Fuel, electricalal), By Industries (Oil And Gas, Construction And Infrastructure, Manufacturing, Mining, Other), By Regions | Global Market Forecast 2024-2032

Outdoor Power Equipment Market Size

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The Outdoor Power Equipment Market size is expected to be valued at USD 24.50 Billion in 2023. It is estimated to reach USD 34.22 Billion by 2032 with a growing CAGR of 3.4% over the forecast period 2024-2032.

Outdoor Power Equipment Market size was valued at USD 24.50 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 3.4% from 2023 to 2030 and it will reach USD 32.02 Billion in 2030. Outdoor Power plants use integrated engines or small motors to operate. If the equipment is mainly used for external services, it is called a Global Outdoor Power supply. Outdoor Power supplies usually include brush cutters, edgers, chain saws, electrical racks, and more. Outdoor Power plants have great applications in both the residential and commercial sectors. Outdoor energy supplies are often used by end-users, such as lawn care plants and local service providers, for commercial purposes. End users who use Global Outdoor Power tools for residential purposes are lovers of do-it-yourself (DIY) and homeowners. Outdoor Power tools widely used lawnmower.

Outdoor Power Equipment Market Dynamics:

DRIVERS

The foreign energy property market is driven largely by the growing demand for homeowners through land reform services to make their homes look good, as well as commercial consumers to maximize the appeal of their properties. In the land reform industry, a variety of Outdoor Power plants, such as lawn mowers, fence cutters, sprayers, and saws, are used in a variety of landscaping activities including grass conservation, hardscaping, tree maintenance, lawn mowing, natural or natural grass care, and snow liberation. According to the National Gardening Survey (US), 77% of US households participated in grass and garden activities in 2021, an increase of 4-5% compared to 2020. in outdoor and garden activities it drives the need for Outdoor Power plants. Outdoor energy supplies are also used to design and maintain golf courses. The North American golf industry has seen significant growth; 24.8 million people in the US are participating in the game by 2020, about 2-3% or 500,000 over 2019. In the coming years, with the growing number of players and golf clubs / new clubs, the demand for Outdoor Power supplies may increase. .

RESTRAINTS

Outdoor Power supplies, such as lawnmowers and trimmers, are accurate tools. Many components such as motors, air filters, and fuel filters for these Global Outdoor Power systems need to be repaired regularly. For optimal performance, Global Outdoor Power Equipment supply needs to be re-measured after normal intervals. Regular maintenance includes lubrication, sharpening, and replacement of parts, as well as other repairs required for the proper operation of tools. Thus, the cost of maintenance of Global Outdoor Power Equipment is very high. Consumers, especially in developing countries, are not prepared to spend a lot of money on the maintenance of these machines as workers are available at a low cost. Also, the cost of ownership of Global Outdoor Power plants goes up due to these maintenance and repair requirements.

OPPORTUNITIES

With the growing adoption of IoT devices and the growing popularity of smart and connected products, manufacturers are focusing on providing connected devices. Advances in technology and the adoption of wireless connection processes lead to the development of smart and connected tools. Leading Global Outdoor Power manufacturers are focusing on the production of smart and connected Global Outdoor Power plants. For example, John Deere began offering JDLink to customers at an additional cost, which is a digital platform that collects real-time machine data and transmits it to John Deere's service centers.

CHALLENGES

External equipment safety and compliance are important issues for manufacturers as these tools are available worldwide. Local and international distribution channels and end-users want security, reliability, and strict adherence to existing and emerging security standards. Therefore, it is important for tool manufacturers to adhere to these safety rules. In addition to binding regulations, manufacturers must address the serious concerns of retailers and consumers regarding the quality and sustainability of the natural environment. Depending on the type of equipment, additional rules may address physical safety requirements, magnetic disturbances, operating noise levels, and product recycling problems. In addition to mandatory requirements, product testing instructions increase the cost of ownership of external energy assets.

Outdoor Power Equipment Market Segment Overview:

BY APPLICATION

Based on the application, Global Outdoor Power Equipment market is divided into residential / DIY and commercial areas. Among these, the residential / DIY application segment is estimated to account for the rapidly growing segment of Global Outdoor Power Equipment market. Thanks to end-users who can be do-it-yourself (DIY) lovers and homeowners. There is already a thriving and established culture of gardening and lawn care throughout Europe and North America, which is growing steadily in other regions as well.

BY POWER SOURCE

The foreign utility-grade market, by the power source, is divided into electrical power and gasoline power. The fuel sector plays a major role in the Global energy commodity market. These mowers are easy to maintain, and a few models are available by launching the push button. Apart from gas mowers, a gas chainsaw is another Outdoor Power machine available on the market designed to cut large trees and branches.

IMPACT OF COVID-19

With the onset of the COVID-19 disaster, the world is witnessing a health and economic epidemic. The Global outbreak of COVID-19 has forced many businesses to shut down their production plants and stop most of the work during the first two to three months. At this critical juncture, the main purpose of companies was to stabilize their businesses by finding secure ways to continue production operations or by finding other sustainable ways to generate revenue. During this time, however, both the residential and commercial applications, both met with increasing demand due to the growing popularity of do-it-yourself (DIY) projects and land reform services. Therefore, within 2 to 3 months of the decline after the onset of the novel virus, both residential and commercial applications made strong returns and began to recover faster. As a result of growing demand, the external energy commodity market may appear to be slowly growing..

Outdoor Power Equipment Market Regional Analysis:

On a regional basis, the Global Outdoor Power Equipment Market is divided into two, including North America, Europe, Asia Pacific, the Middle East and Africa, and South America. North America is expected to hold the fastest-growing segment in the forecast period. The increase in investment in infrastructure and the housing market, it is expected to lead to an increase in the construction sector in the APAC region.

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KEY PLAYERS:

The major players in Global Outdoor Power Equipment Market are Deere & Company, Andreas Stihl AG & Company KG, Honda Motor Co Ltd., The Toro Company, Ariens Company, Yamabiko Corporation, Stanley Black & Decker Inc, Techtronic Industries, Briggs & Stratton Corporation, STIGA S.p.A, AL-KO Kober Group, Robert Bosch and Emak S.p.A., Husqvarna, Makita, Robert Bosch, STIHL Group, Techtronic Industries, MTD Products, and The Toro Company and others