Outdoor Power Equipment Market:
The GMI Research forecasts that the outdoor power equipment market is witnessing an upsurge in demand during the forecast period. This is mainly due to rising consumer spending on durable goods, rapid urbanization, and increasing emphasis of homeowners towards beautifying their gardens.
Top Manufacturers in the Outdoor Power Equipment Market:
- Deere & Company
- Husqvarna AB
- The Toro Company
- Techtronic Industries Co. Ltd.
- American Honda Motor Co., Inc.
- Andreas Stihl AG & Co. KG
- YAMABIKO Corporation
- Ariens Company
- Stanley Black & Decker, Inc.
Outdoor Power Equipment Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The rising consumer spending on durable goods, rapid urbanization, and increasing emphasis of homeowners towards beautifying their gardens are the major factors fuelling the growth of the global outdoor power equipment market size. Moreover, growing concerns regarding environmental pollution is drastically shifting consumers’ preference towards energy sources to decrease carbon emissions, which is one of the emerging outdoor power equipment industry trends that is boosting the growth of the outdoor power equipment market share in terms of revenue.
According to the outdoor power equipment market statistics, rapid technological advancements and R&D activities in the outdoor power equipment to improve the design, reliability & performance, and comfort level, is promoting the consumers to shift towards these types of advanced equipment. With the outbreak of the COVID-19 pandemic, individuals are searching for advanced gardening tools and equipment owing to the rising focus to stay home and maintain social distance. On the other edge of the spectrum, the factor restraining the market growth is the increasing cost of maintenance of these kinds of equipment.
Equipment type Segment Drivers
Based on the equipment type, the Saws segment is projected to grow at a higher CAGR during the forecast period due to the growing adoption of saws as it is increasingly used for bucking, cutting, and cutting trees. Furthermore, the various benefits regarding the use of electric-powered saws such as safety, no fuel emissions, improved power & performance, affordability, and easy to use a feature, which will bolster the market growth.
Based on the region, the Asia-Pacific region is anticipated to dominate the market during the forecast period. This is attributed to the growing adoption of outdoor power equipment driven by the rising number of development projects in the infrastructure and residential markets. Additionally, rapid urbanization and increasing concerns to decrease pollution has led to an upsurge in the construction of sustainable buildings, which will further propel the growth of the market in this region.
Outdoor Power Equipment Market Segmentation:
Segmentation by Equipment Type:
- Lawn Mowers
- Riding Lawn Mowers
- Lawn Tractors & Garden Tractors
- Rear Engine Riding Mowers
- Zero-Turn-Radius Mowers (ZTR)
- Non-Riding Lawn Mowers
- Walk-Behind Lawn Mowers
- Robotic Lawn Mowers
- Trimmers & Edgers
- Snow Throwers
- Tillers & Cultivators
- Riding Lawn Mowers
Segmentation by Power Source:
- Fuel Powered
- Electric Powered
Segmentation by Application:
Segmentation by Region:
- North America
- United States of America
- Asia Pacific
- Rest of APAC
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a leading market research company that offers market research reports for every industry. Our research teams have seasoned analysts and researchers and are always looking for industry-leading research techniques to create all-encompassing research reports. GMI Research’s extensive global network allows it to collect relevant information about the industry on a regional as well as country-level basis. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of sectors. We provide step-by-step assistance to our clients through strategic and consulting services to reach a managerial and actionable decision. Our market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, major factors impacting the market growth, and various market insights to aid companies to make strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Press Release Distributed by Xherald