Publication Month: Mar 2020 | Report Code: TIPRE00007103 | No. of Pages: 221 | Category: Manufacturing and Construction | Status: Published
The outdoor power equipment market has witnessed eminent growth in the last couple of years globally. The outdoor power equipment market is going through a gradual shift from manual equipment to technically advanced and automated equipment. Robotic lawn mower is one such example. The demand for alternative power sources, connected interfaces, and technology integration in outdoor power equipment is growing at an impressive pace globally. Hence, companies are taking interest in the development of fully and semi-autonomous landscaping and lawn equipment for both residential and commercial customers. Rising urbanization, infrastructure activities, and disposable incomes coupled with increasing investments from companies are among the factors that are projected to boost the demand for robotic lawn mowers and other advanced outdoor power equipment during the forecast period.
The COVID-19 (Coronavirus) outbreak started in December 2019 in China and this outbreak is starting to raise concerns across various industries. The lockdowns, travel bans, and business shutdowns in various countries such as China, the US, India, and Italy among others are impacting the supply chains and delivery schedule of various markets. North America and Europe are two of the major markets for outdoor power equipment manufacturers and lock down in these regions is anticipated to affect the sales of outdoor power equipment providers in the next 3 to 6 months. However, the effect of COVID-19 outbreak is expected to affect the market growth in short term only and the overall market growth is anticipated to be steady over the forecast period of 2020 to 2027.
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Due to rising environmental concerns and increasing number of stringent government regulations related to carbon emissions, the outdoor power equipment industry is going through a shift from fuel-powered to electric-powered equipment. The trend of electric- and battery-powered equipment is now not only limited to handheld equipment. The ride-on and heavy equipment such as lawn mowers are increasingly available in various power source choices such as fuel and battery. The rising demand from municipalities and corporates to use green or environment-friendly products for landscaping purposes is driving the growth of electric-powered outdoor power tools in these sectors.
Based on application, the outdoor power equipment market is segmented into residential and commercial. The residential segment captured a dominating share in the global outdoor power equipment market. High inclination of home owners to renovate their houses including exterior spaces stimulates the adoption of outdoor power equipment in the residential sector.
The outdoor power equipment market, by power source, is segmented into electric-powered and fuel-powered. The fuel-powered segment captured a dominating share in the global outdoor power equipment market. These mowers are easy to maintain, and a few models are available with push-button start. In addition to gas mowers, a gas chainsaw is another outdoor power equipment available in the market developed for cutting large trees and branches.
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The outdoor power equipment market, by equipment type, is segmented into lawn mowers, blowers, tillers and cultivators, chainsaws, trimmers, hedge trimmers, sprayers, mist dusters, and others. The lawn mowers segment captured a dominating share in the global outdoor power equipment market. For both commercial and residential purposes, several types of lawn mowers, including riding mowers, push mowers, and self-propelled mowers, are available with different fuel types and accessories. The petrol and electric non-collecting hover mowers are appropriate for slopes, rough areas, or commercial spaces.
Market initiative and new development strategies are commonly adopted by companies to expand their footprint worldwide and meet the growing demand. These strategies are mostly observed in North America and Europe. The players present in the outdoor power equipment market adopt the strategy of expansion and investment in research and development to enlarge customer base across the world, which also permits the players to maintain their brand name globally.
The List of Companies - Outdoor Power Equipment Market
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