Outdoor Power Equipment Market

Outdoor Power Equipment Market Market Size

Outdoor Power Equipment Market is anticipated to exhibit a Compound Annual Growth Rate (CAGR) of 5.6% during the forecast period span from 2024 to 2034. In 2023, the market size was assessed at USD 37.7 billion and is projected to reach USD 68.6 billion by the completion of 2034.

Outdoor power equipment includes a wide range of tools which are specifically developed for outdoor uses such as gardening, landscaping, and maintenance of property. For instance, lawnmowers, chainsaws, leaf blowers, and hedge trimmers, are designed to simplify outdoor operations by reducing physical effort and increasing efficiency. They run on numerous power sources such as gasoline, electricity, or batteries, each with its own set of advantages in terms of power, mobility, and environmental impact. Additionally, to ensure reliability and user safety, manufacturers prioritize powerful engineering, where outdoor power equipment serves essentially. Furthermore, ongoing technological improvements in this field aim to improve efficiency, reduce emissions, offer convenience, and low noise level during operations. Therefore, as these tools evolve with technology, new features are constantly being added to improve performance and user experience.

Market Highlights 

Outdoor Power Equipment Market is expected to demonstrate a Compound Annual Growth Rate (CAGR) of 5.6% throughout the forecast period spanning from 2024 to 2034

Outdoor Power Equipment Market is projected to achieve USD 68.6 billion during the forecast period, owing to technological innovations and a rising need for sustainability. The growing popularity of electric and battery-operated tools is a notable development as these tools attract environmentally aware consumers due to their lower emissions and silent operations. Additionally, an increase in do-it-yourself (DIY) activities and gardening jobs has created demand for smaller and user-friendly tools. Moreover, the easy accessibility of outdoor power tools has grown greatly due to the thriving e-commerce platforms, which provide useful avenues for research and purchases. Furthermore, government regulations and standards regarding emissions and noise control are pushing manufacturers to innovate practical and eco-friendly designs. These developments highlight a market evolution toward greener, efficient, and accessible outdoor equipment solutions.

Source: Fatpos Global

Outdoor Power Equipment Market Segmentation

Lawn Mowers segment will grow in popularity due to their widespread use in residential settings

Based on Type, Outdoor Power Equipment Market is segmented into Lawn Mowers, Saws, Blowers, Snow Throwers, and Others. The dominance of the lawn mower segment is attributed to several factors, such as the growing interest among residential users in maintaining their lawns and gardens, which significantly promotes the demand for lawn mowers. The growth of this segment is further driven by the expanding industry of gardening services. Additionally, trimmers contribute significantly as well due to their versatility in edge cutting, which is necessary for defining borders and constructing walkways in gardens. Thus, both lawn mowers and trimmers are widely preferred for their efficacy in managing various tasks, such as controlling overgrowth and effortlessly handling tough grass. Therefore, these factors solidify the dominance of the lawn mower segment in the outdoor equipment market, illustrating their significance in garden and lawn maintenance.

Fuel Powered segment is expected to expand due to its longevity and dependability

By Power Source, the Outdoor Power Equipment Market is divided into Fuel Powered and Electric Powered. The fuel-powered segment continues to hold a prominent position in the outdoor equipment market due to its long-standing usage and reliable power output. Fuel-powered tools continue to be significant due to their durability and historical dominance, even though their popularity has somewhat decreased owing to concerns about noise pollution and carbon emissions. These instruments are widely used for a variety of outdoor jobs and are respected for their demonstrated power, which strengthens their market presence. Furthermore, despite multiple concerns, the fuel-powered sector remains a popular choice among customers who value pure strength and expertise over emerging eco-friendly alternatives, thereby maintaining the dominance of fuel powered segment in the outdoor power equipment market.

Source: Fatpos Global

Market Dynamics

Growth Drivers

Improvements in Technology Will Open Up New Growth Prospects

Frequent technological innovations serve as a catalyst for the expansion of outdoor equipment market by improving product functionalities and interaction with users. Developments in battery technology, such as the evolution of long-lasting and fast-charging batteries, drive the adoption of cordless electric equipment. Furthermore, the incorporation of IoT and smart functions improves equipment capabilities by enabling remote monitoring and accurate control. Simultaneously, advances in engine technology focuses on pollution and noise reduction to meet various environmental standards. Therefore, these developments improve operational efficiency and address the growing need for outdoor tools, effectively fueling the market's growth trajectory.

Rising Demand for Landscaping Services Will Create New Growth Opportunities

Increasing demand for landscaping services emerge as a major growth driver in the outdoor equipment market. This expansion is driven by urban development, commercial property growth, and a rising focus on visually appealing outdoor areas. Professional gardeners are responsible to address evolving demands of property owner, which requires durable and high-performance tools. Moreover, this strong demand extends across multiple equipment categories, including mowers, trimmers, and specialist machines which are required for a variety of landscaping tasks. Therefore, as the emphasis on visually attractive outdoor spaces grows, the constant demand for durable and high-quality equipment types will drive market expansion.

Restraints

Environmental Rules and Worries May Limit Market Growth

Environmental laws which are aimed at reducing emissions and noise, presents a significant challenge to the growth of market. Moreover, making modifications to gasoline-powered equipment to comply with modern regulations requires a great deal of innovation and work. Thus, manufacturers must upgrade current technology or switch to more environmentally friendly substitutes to meet these standards without sacrificing their performance. Furthermore, these adherence requirements may hinder market expansion as it requires major adjustments and investments in the industry in accordance with modern environmental standards. Hence, the requirement of meeting strict laws is a major challenge which force the industry to make considerable changes while maintaining operational efficiency.

Recent Developments

• April 2023 - Husqvarna unveiled its latest innovation, the 525iDEPS MADSAW dielectric pole saw, focusing on heightened safety and adaptability for utility and arborist tasks. This model prioritizes operator safety near live cables while aiming for increased versatility.
• January 2023 - Husqvarna Group introduced an extensive two-year warranty initiative, specifically tailored to safeguard commercial turf and tree care equipment, elevating protection standards for professionals using their products.
• May 2022 - Toro showcased a forthcoming robotic mower slated for release in spring 2023. This autonomous and wirelessly navigated mower boasts alternative power, smart connectivity, and a vision-based localization system, enabling seamless customization per plot without the need for boundary wire installation. Its theft-proof features and ability to manage slopes further enhance its appeal.
• April 2022 - Karcher expanded its autonomous product range by unveiling the KIRA B 100 R, an advanced robotic floor scrubber powered by Brain Corporation's Brain OS. This innovative model caters to indoor public spaces, emphasizing sophisticated technology and commercial-grade functionality under the KIRA acronym, symbolizing Karcher's Intelligent Robotic Application.
• May 2023 - Kress introduces its 40V and 60V line of outdoor power tools available through U.S. and Canadian distributors. The Kress 40V series relies on Kress 20V Kross Pack lithium-ion batteries, offering the potential for higher power output and extended operational periods through combination.

Outdoor Power Equipment Market

Key Players:

• Husqvarna Group
• STIHL Group
• Deere & Company
• The Toro Company
• Honda Power Equipment
• MTD Products Inc.
• Stanley Black & Decker
• Briggs & Stratton Corporation
• Ariens Company
• Makita Corporation
• TTI Group
• Kubota Corporation
• Robert Bosch GmbH
• ECHO Incorporated
• Greenworks Tools
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

Outdoor Power Equipment Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America's dominance in the outdoor power equipment market is being driven by an increase in DIY practices and the expansion of commercial parks and lawns. Furthermore, technological improvements have a significant impact on the region, that allows for seamless and productive operations. Additionally, leaf blowers, chainsaws, and lawnmowers are commonly used in gardens, parks, corporate settings, and residential locations. Moreover, industry leaders are capitalizing on increased demand by expanding their product offerings, which contributes to the dominance of North America region.

Source: Fatpos Global

Impact of Covid-19 on Outdoor Power Equipment Market

COVID-19 pandemic had a diverse impact on the outdoor equipment market. Initially, there was a notable increase in demand as people spent more time at home doing DIY activities. Moreover, restrictions on indoor activities led individuals to focus on home improvement, gardening, and lawn care, which resulted in increased purchases of tools like lawnmowers, trimmers, and leaf blowers. However, disruptions in the supply chain caused manufacturing delays and shortages of specific outdoor equipment. Additionally, economic uncertainties and financial limitations due to job losses or reduced income affected consumer spending, which influenced the purchasing patterns for outdoor equipment. Therefore, despite these obstacles, the adoption of remote work and increasing home time generated interest in outdoor activities, hence promoting the demand for outdoor equipment.

Outdoor Power Equipment Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Outdoor Power Equipment Market Scope and Segments:

Frequently Asked Questions (FAQ):