Pune, Feb. 22, 2022 (GLOBE NEWSWIRE) -- The Outdoor Power Equipment Market size was USD 27.26 billion in 2020. The market is projected to grow from USD 28.60 billion in 2021 to USD 40.86 billion in 2028 at a CAGR of 5.2% during the 2021-2028 period. This vital information is presented by Fortune Business Insights™, in its report, titled, “Outdoor Power Equipment Market, 2021-2028.” Factors such as rising urbanization and increasing interest inlandscaping maintenance of lawns, gardens, and golf courses will boost the market growth during the forecast period. Additionally, increased adoption of advanced & smart technologies will increase the footprint of the market.
Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/outdoor-power-equipment-market-106369
Top Players Present in the Market
- Kaercher (Germany)
- Yamabiko Manufactures (Japan)
- Husqvarna Group (Sweden)
- Ryobi (Japan)
- Techtronic Industries (U.S.)
- Maruyama U.S., Inc. (U.S.)
- Stanley Black & Decker (U.S.)
- MTD Products (U.S.)
- Makita Group (Japan)
- VbEmak (Italy)
- Toro Company (U.S.)
- Hikoki (Japan)
- Deere (U.S.)
- ECHO (U.S.)
- Jonsered (Sweden)
- Bosch (Germany)
- Honda (Japan)
- Cub Cadet (U.S.)
- Troy Blit LLC (U.S.)
COVID-19 Impact
COVID-19 Pandemic Brings Fruitful Changes to Market Growth
The COVID-19 pandemic bought a positive change to the outdoor power equipment sector due to imposed lockdowns and travel restrictions on the general population. Additionally, e-commerce platforms bought a huge surge in sales due to easy availability and a wider choice of products. Professional usage of outdoor equipment also rocketed due to increased investments from the commercial sector. Overall, the market is expected to remain unaffected by the economic backlash that the pandemic has bought to various business practices worldwide.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/outdoor-power-equipment-market-106369
Segments
By type, the market can be divided into lawnmowers, chainsaws, pressure washers, trimmers, blowers, and others.
On the basis of power source, the market can be broken down into gasoline, battery-powered, and electrically powered equipment.
With respect to sales channels, the market can be segmented across e-commerce and direct purchase sales channels.
By application, the market can be segregated into residential or (do-it-yourself) users and commercial users.
In terms of geography, the market can be categorized into North America, Europe, Asia Pacific, and the Rest of the World.
Report Coverage
The market report for outdoor power equipment presents a pivotal aspect by offering various attributes such as leading players, market offerings, segments and subsegments, and supply chain analysis. In order to formulate a sound forecast period, several methodologies and approaches are employed in order to present our readers with an insightful read. Key market segments with leading segments from a regional overview are also presented.
Report Scope and Segmentation-
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 5.2% |
| 2028 Value Projection | USD 40.86 billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 27.26 billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 220 |
| Segments covered | By Type, By Power Source, By Sales Channel, By Region, By Application |
| Growth Drivers | Increasing Focus on Battery-Powered Equipment To Bolster Market Growth |
| Rising Urbanization & New Customers Group Propels Market Demand | |
| Pitfalls & Challenges | Accidents Due to Equipment to Hinder Market Growth |
Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/outdoor-power-equipment-market-106369
Drivers & Restraints
Increased Focus on Battery-Powered Equipment to Augment Sales
Factors such as remote working, faltering in gas price, andattenuated focus on environmental protection will boost the outdoor power equipment market growth during the forecast period. Also, the increasing development of new products and prominent organizations leveraging added benefits of battery-powered equipment will increase the footprint of the market. Additionally, increasing urbanization &increasing consumer groups will fuel the growth of the market.
However, increasing occurrences of accidents due to outdoor power equipment will limit the growth of the market during the forecast period.
Regional Insights
North America to Hold Largest Market Share due to Stringent Government Laws
North America will witness the largest outdoor power equipment market share during the forecast period owing to strict government laws and increased focus on low emission technologies. Additionally, rising investment from key players and increasing technological advancements will increase the footprint of the market.
Europe will occupy a significant market share in terms of global contribution due to increasing the adoption of new technologies and rising number of legalization integrated by the EU for ensuring the safety of consumers.
The Asia Pacific will observe substantial growth during the forecast period rising investment in smart infrastructure.
Competitive Landscape
Key Players Focusing on Novel Product Launched &Improving Product Quality
The sector of outdoor power equipment is highly fragmented due to the number of players present. Dominant players are constantly striving for producing the latest generation of products for inducing a larger consumer base which constantly shapes the competitive landscape. For example, in July 2020, Home Depot, announced accelerating their outdoor power category which includes assorting cordless outdoor power and gasoline outdoor power products in outdoor power equipment.Rising investments in R&D activities and increasing sales volume from e-commerce platforms will further push the market’s boundaries.
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/outdoor-power-equipment-market-106369
Industry Development
- September 2021: Echo Incorporation launched their cordless platform, the Echo eFORCE 56V battery system. This offering boasts 10 units, two batteries and two chargers which gave their customers a superior option in battery-powered equipment.
Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions & Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Insight on Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Outdoor Power Equipment Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Outdoor Power Equipment Market (USD Billion) Analysis, Insights, and Forecast, 2017-2028
- Key Findings
- Market Analysis, Insights and Forecast – By Type
- Lawn Mower
- Walk-behind Mowers
- Zero-turn Radius (ZTR) Mower
- Riding Mower
- Robotic Mowers
- Lawn & Garden Tractors
- Trimmer
- Hedge Trimmer
- Brush Cutters & Trimmer
- Edge Trimer/Edger
- Others
- Blower
- Snow Blower
- Leaf Blower
- Chainsaw
- Pressure Washer
- Tillers & Cultivators
- Others
- Lawn Mower
- Market Analysis, Insights, and Forecast – By Power Source
- Gasoline Powered
- Battery Powered
- Electric Motor/Corded
- Market Analysis, Insights, and Forecast – By Sales Channel
- E-commerce
- Direct Purchase
- Market Analysis, Insights, and Forecast – By Application
- Residential/DIY
- Commercial
- Market Analysis, Insights, and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of the World
- North America Outdoor Power Equipment Market (USD Billion) Analysis, Insights, and Forecast, 2017-2028
Quick Buy – Research Report: https://www.fortunebusinessinsights.com/checkout-page/106369
Have a Look at Related Research Insights:
Control Valve Market Size, Share and Global Trend By Motion (Linear, Rotary), By Component (Actuator, Valve Body, Others), By Application (Flow Control, Pressure Control, Others), By End-Use Industry (Oil & Gas, Chemical, Pharmaceutical, Food and Beverage, Others) and Geography Forecast till 2022-2029
Compressed Natural Gas Market Size, Share and Global Trend By Source (Associated Gas, Non-Associated Gas, Unconventional Sources), By Application (Light Duty Vehicles, Medium/Heavy Duty Buses, Medium/Heavy Duty Trucks, Others), and Geography Forecast Till 2022-2029
Battery Electrolyte Market Size, Share and Global Trend By Electrolyte Type (Liquid,Solid, Gel), By Battery Type (Lithium-ion, Lead Acid) and Geography Forecast till 2022-2029
Emission Monitoring System Market Size, Share and Global Trend By Type (Predictive Emission Monitoring System, Continuous Emission Monitoring System), By Component (Hardware, Software, Service), By End User (Oil and Gas, Chemicals & Fertilizers, Iron and Steel, Pharmaceuticals, Food & Beverages, Healthcare, Mining, Others), and Geography Forecast till 2022-2029
String Inverter Market Size, Share and Global Trend By Type (Single string,Multi string), By Connectivity (On-grid, Off-grid), By Application (Residential, Commercial, Industrial, Utilities) and Geography Forecast till 2022-2029
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
9th Floor, Icon Tower,
Baner - Mahalunge Road,
Baner, Pune-411045, Maharashtra, India.
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
LinkedIn: https://www.linkedin.com/company/fortune-business-insights
Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd
Twitter: https://twitter.com/FBInsightPvtLtd
