Outdoor Power Equipment Market Size, Share

Updated on : Oct 22, 2024

Outdoor Power Equipment Market Size & Share

The global outdoor power equipment market size is expected to grow from USD 31.0 billion in 2024 to USD 36.5 billion by 2029, growing at a CAGR of 3.3% during the forecast period from 2024 to 2029.

The rising interest in gardening activities and increasing demand for landscaping services, increasing use of battery-powered outdoor power equipment for lawn maintenance, and rapid growth in construction sector all significantly influence the dynamics of the outdoor power equipment market.

In addition, growing inclination toward rental services and increasing popularity of connected outdoor power equipment are all factors that generate opportunities within the outdoor power equipment industry.

Attractive Opportunities in the Outdoor Power Equipment Market

Outdoor Power Equipment Market Forecast to 2029

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Outdoor Power Equipment Market Dynamics

DRIVERS: Rising interest in gardening activities and increasing demand for landscaping services

The outdoor power equipment market experiences significant growth driven primarily by increasing demand from both residential and commercial customers seeking landscaping services to enhance property aesthetics.

Within the landscaping sector, a diverse range of outdoor power tools such as lawn mowers, hedge trimmers, blowers, and saws are employed for tasks including lawn maintenance, hardscaping, tree care, and snow removal. According to the 2023 National Gardening Survey in the US, approximately 80% of households engaged in lawn and garden activities in 2022, with an average expenditure of USD 616 per household. This reflects a growing trend among homeowners in developed nations to allocate more resources to outdoor and gardening activities, thus driving demand for outdoor power equipment.

Outdoor power equipment also plays a pivotal role across various professional sectors including landscaping services, ground maintenance, sports field upkeep, commercial nurseries and greenhouses, as well as forestry and logging operations. The 2023 report from the National Golf Foundation indicates significant growth in the US golf industry, with 15,945 golf courses, five times more than any other country. This growth underscores an increased demand for outdoor power equipment to maintain these golf courses effectively.

RESTRAINTS: High maintenance costs

Outdoor power equipment, such as lawn mowers and trimmers, is recognized for its precision engineering. These tools comprise various components, including motors, air filters, and fuel filters, which demand regular upkeep. Recalibration of outdoor power equipment is necessary at consistent intervals to ensure optimal functionality.

As time passes, components like motors, batteries, and cables gradually degrade and require routine oiling, sharpening, and repairs. The maintenance expenses for outdoor power equipment are relatively steep. Especially in developing regions where labor costs are lower, consumers hesitate to invest significant sums in equipment upkeep.

This elevated maintenance cost has thus acted as a barrier to the expansion of the outdoor power equipment market. Furthermore, consumers in developing countries are increasingly favoring the leasing of outdoor power equipment, exacerbating the market's growth challenges.

OPPORTUNITIES: Increasing popularity of connected outdoor power equipment

With the increasing integration of IoT devices and other technological advancements, manufacturers are directing their efforts towards providing smart and interconnected outdoor power equipment. For example, John Deere has introduced JDLink to its customers at no extra cost; this digital platform collects real-time equipment data and sends it to John Deere service centers, while also allowing customers to monitor and manage their equipment using smartphones.

Similarly, Husqvarna Group, based in Sweden, offers residential robotics lawn mowers like the Automower 450X and 435X AWD, which feature smartphone connectivity for remote control and monitoring. These connected and intelligent products are gaining popularity among consumers and present a lucrative opportunity for the growth of the outdoor power equipment market.

CHALLENGES: Stringent trade policies and safety regulations

Safety and regulatory compliance are top priorities for manufacturers in the global outdoor power equipment industry. Domestic and international distribution channels, as well as end-users, demand reliability and strict adherence to both current and evolving safety standards.

In addition to meeting mandatory regulations, it's crucial for manufacturers to address significant concerns raised by retailers and consumers regarding product quality and environmental sustainability. Furthermore, depending on the type of equipment, manufacturers must also navigate additional regulations covering aspects such as physical safety requirements, electromagnetic interference, operational noise levels, and product recycling. These regulatory demands not only increase the overall cost of owning outdoor power equipment but also pose significant challenges for manufacturers, particularly concerning product testing mandates.

Outdoor Power Equipment Market Ecosystem

Outdoor Power Equipment Market Segmentation

Lawn Mowers to hold the largest share of the outdoor power equipment market during 2024–2029.

The lawn mowers segment is expected to account for the largest share of the outdoor power equipment market during the forecast period, primarly due to its essential function in lawn maintenance and garden care. With an increasing focus on outdoor activities and gardening, there is a growing demand for outdoor power equipment.

Furthermore, the rise in residential and commercial construction projects has intensified the need for such equipment. As a result, the lawn mowers segment continues to thrive, catering to the evolving needs of consumers and businesses seeking efficient solutions for landscaping and property maintenance.

Commerical segment is expected to grow at the higher CAGR in the outdoor power equipment market during the forecast period.

The commercial segment is expected to register the highest CAGR in the outdoor power equipment market during the forecast period, driven primarily by increased demand across various sectors including landscaping, construction, and agriculture.

Businesses are placing a greater emphasis on improving efficiency and productivity, leading to a rise in the adoption of advanced outdoor equipment for a wide range of maintenance and operational tasks. Additionally, the ongoing global trend of urbanization and continual infrastructure development projects is further fueling this upward trend.

As cities expand and infrastructure projects progress, commercial entities are investing more in high-performance equipment to meet the evolving demands of these projects. This increased investment in cutting-edge equipment is expected to significantly contribute to the projected growth of the commercial segment.

Fuel-based equipment will dominate the market during the forecast period.

The fuel-based equipment is expected to account for the largest share of the outdoor power equipment market during the forecast period. Professional landscapers and turf-care providers, show a strong preference for fuel-based equipment due to its effectiveness in handling demanding tasks like maintaining large lawns, yards, and stadiums.

Additionally, the growing popularity of turf sports and the increasing demand for landscaping services further contribute to the widespread use of fuel-based outdoor power equipment. This underscores the vital role that fuel-based equipment plays in meeting the rigorous demands of commercial and professional outdoor maintenance operations.

Asia Pacific is expected to grow at the higher CAGR in the outdoor power equipment market during 2024–2029.

Asia Pacific is expected to grow at the higher CAGR in the outdoor power equipment market throughout the forecast period. This surge is fueled by strong economic growth, rapid urbanization trends, and increasing disposable incomes across key markets such as China, India, Japan, and South Korea.

Additionally, government initiatives focusing on infrastructure development and sustainability are driving market demand. Moreover, a growing emphasis on environmental awareness is encouraging the adoption of energy-efficient and environmentally friendly outdoor power equipment options. These combined factors position the Asia-Pacific region as a significant driver of growth in the outdoor power equipment market.

Outdoor Power Equipment Market by Region

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Top Outdoor Power Equipment Companies - Key Market Players

The outdoor power equipment companies have /implemented various types of organic and inorganic growth strategies, such as product launches, product developments, partnerships, and collaborations, to strengthen their offerings in the market. The major players are

• Husqvarna Group (Sweden),
• The Toro Company (US),
• Deere & Company (US),
• Stanley Black & Decker, Inc. (US),
• ANDREAS STIHL AG & Co. KG (Germany),
• Techtronic Industries Co. Ltd. (Hong Kong),
• Honda Motor Co., Ltd. (Japan),
• YAMABIKO Corporation (Japan),
• Makita Corporation (Japan),
• Robert Bosch GmbH (Germany),
• Honda (Japan), and others. The study includes an in-depth competitive analysis of these key players in the outdoor power equipment market with their company profiles, recent developments, and key market strategies.

Outdoor Power Equipment Market Report Scope

Fire Protection System Market Highlights

This research report categorizes the global Outdoor Power Equipment Market based on Equipment Type, Applications, Power Source, and Region.

Recent Developments in Outdoor Power Equipment Industry

• In October 2023, The Toro Company introduced the TimeCutter MAX and TITAN Zero-Turn Mowers, designed to provide exceptional performance, maximum comfort, and sleek design. These zero-turn mowers are fully equipped to overcome various challenges, from extensive acreage to rugged terrains.
• In October 2023, Stanley Black & Decker, Inc. and its brands Cub Cadet, DEWALT, and Hustler Turf showcased their professional grade electric and gas-outdoor power equipment at Equip Expo 2023. Cub Cadet featured the PRO Z Series and PRO X Series of stand movers. The DEWALT brand showcased the 60V MAX 14" Top Handle Chainsaw and 21 in. 60V MAX* Single-Stage Snow Blower. Hustler displayed its new line-up of X-RIDE mowers.
• In September 2023, Deere & Company introduced six new models (Q810E, Q820E, Q820M, Q850M, Q850R and Q865R EFI machines) of QuikTrak Stand-On Mowers, designed for commercial use. With increased speed, enhanced power, and larger fuel capacity, this 2024 line-up offers an optimal solution for customers.
• In March 2023, Husqvarna Group introduced the Husqvarna Aspire series, a comprehensive lineup that supports the Power for All battery system, enabling consumers to employ a single 18V battery across an array of devices in their home and garden, irrespective of the manufacturer. The Husqvarna Aspire series includes a robotic mower, walk-behind mower, grass trimmer, pruner, hedge trimmer, and blower.
• In March 2023, STIHL has obtained a majority stake of 75.1% in Mogatec GmbH, a leading expert in advanced garden technology. The plan is for STIHL to progressively acquire the remaining shares of Mogatec GmbH in the coming years. This strategic move is underpinned by the longstanding and close collaboration between the two companies, particularly in engineering and the customized production of specific power tools.

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