Outdoor Power Equipment Market Research | Growth Overview and Trends Analysis with Forecast 2032

The growing popularity of green spaces in suburban and urban regions is another important element driving the market for outdoor power equipment.

Jul 24, 2023 - 11:35
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Outdoor Power Equipment Market Research | Growth Overview and Trends Analysis with Forecast 2032

The global Outdoor Power Equipment Market size was USD 31 Billion in 2022 and is expected to reach a value of USD 52.37 Billion in 2032 and register a revenue CAGR of 6% during the forecast period.This market's expansion can be due to a number of variables, including the increased demand for landscaping services and the growing popularity of green spaces in both urban and suburban settings.

The rising demand for landscaping services, particularly in metropolitan areas, is one of the key factors driving market expansion. Demand for landscaping and maintenance services has expanded along with the population growth, which has also raised demand for outdoor power equipment. In addition, as the number of residential properties has grown in response to an increase in people's disposable incomes, landscaping services have become more and more necessary.

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Market Overview:

As a result of steady revenue growth over the past few years, the manufacturing and construction industry is expected to achieve a robust annual revenue growth rate between 2021 and 2028. In addition to the rapidly growing construction industry, rapid urbanization and industrialization, and technological advancements in manufacturing techniques, this can also be attributed to these factors. Green construction and energy efficient buildings have become increasingly popular in recent years as awareness of environmental impact and carbon emissions has increased. Over the forecast period, key factors are expected to boost global market growth, including the rapid growth of global populations, changing lifestyle preferences, the increasing demand for smart buildings, an increase in renovation and reconstruction activities, and an increase in eco-friendly construction activities. Other factors that will contribute to market growth in the future include an increase in disposable income, government schemes, and investments by private organizations.

Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as license agreements, partnerships, merger and acquisitions, collaborations, R&D investments, and joint ventures to gain robust footing in the market. 

Major Companies:

  • Husqvarna Group
  • Deere & Company
  • MTD Products
  • Honda Motor Co., Ltd.
  • STIHL Holding AG & Co. KG
  • Briggs & Stratton Corporation
  • The Toro Company
  • Techtronic Industries Co. Ltd.
  • Makita Corporation
  • Stanley Black & Decker, Inc.

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Market Segmentation:

By Product Type Outlook: 

  • Lawn Mowers
  • Trimmers & Edgers
  • Blowers
  • Chainsaws
  • Others

By Power Source Outlook: 

  • Electric
  • Gasoline
  • Others

By End-use Outlook: 

  • Residential
  • Commercial
  • Municipal

 Regional Outlook:

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

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