Outdoor Power Equipment Market Key Players and Opportunities by 2031

The Outdoor Power Equipment Market size is projected to reach US$ 59.2 billion by 2031 from US$ 39.5 billion in 2023. The market is expected to register a CAGR of 5.2% in 2023–2031. The demand for electric equipment is growing owing to its benefits, such as longer run time and easy maintenance, among others. In addition, manufacturers in the industry are actively introducing innovative products to fulfill the increased demand.

Outdoor Power Equipment Market Analysis

Increased construction activities across the globe have led to increased adoption of home gardens and rooftop gardens. Urbanization and construction activities have led to deforestation; thus, households are increasingly adopting the home garden and rooftop garden concepts. In addition, COVID has positively impacted the demand for garden equipment. As per the data published in the National Gardening Survey 2023, participation in gardening and lawn activities has increased to 5 years high, that is, 80% of the households taking part in 2022. In addition, spending on garden and lawn activities also increased; the average spending of the household reached US$ 616 in 2022 from US$ 74 in 2021. Such factors are driving the demand for outdoor power equipment in the past few years.

Outdoor Power Equipment Market Overview

The landscaping and gardening industry in the US is one of the notable industries in the US. As per the data published by the US Bureau of Labour Statistics in 2020, approximately 0.8 million professionals are working in the US in landscaping and groundskeeping. Further, the US landscaping industry is worth approximately US$ 100 billion. Such demand for the landscaping industry in the US is driving the demand for outdoor power equipment.

Lawn movers are one of the highly adopted power equipment across the globe. Lawn movers are projected to acquire more than 35% of the total outdoor power equipment. Lawn mover is one of the most basic equipment required for the landscaping industry. Thus, the demand for lawn movers is higher than for any other equipment.

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Outdoor Power Equipment Market: Strategic Insights

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Outdoor Power Equipment Market Drivers and Opportunities

Product development activities of the key players

The key players are increasing their focus on developing and introducing innovative outdoor equipment that is effective and effective. In 2023, Echo introduced battery-powered blowers. These are three-port battery powered backpack that produces approximately 800 cubic feet per minute air volume. Further, in 2023,  Whisper Aero introduced an ultra-quiet electric leaf blower. The company focused on reducing noise pollution by using next-generation aircraft electric thrusters. Such product development activities by the key players of the industry are driving the market.

Growing demand for robotic lawnmowers

The robotic lawn mower has more benefits than the traditional lawn mower. Robot lawnmowers provide more equal patterns compared to traditional lawnmowers that mow in a random pattern. In addition, when mowing is completed, robotic lawnmowers automatically return to their charging stations and charge themselves without requiring any actions by the consumers. Further, these robotic lawnmowers require less space for storage compared to traditional lawnmowers. Moreover, owing to growing demand, the manufacturers of the industry are introducing innovative robotic lawn mowers. Such factors are projected to create lucrative opportunities for the market during the forecast period.

Outdoor Power Equipment Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Outdoor Power Equipment Market analysis are equipment type, power source, and application.

• Based on equipment type, the Outdoor Power Equipment Market is divided into lawnmowers, blowers, tillers & cultivators, chainsaws, trimmers, hedge trimmers, sprayers, mist dusters, and others. The lawnmowers segment held a larger market share in 2023.
• By power source, the market is segmented into neurogenerative disorders, stroke, injury, and others. The electric disease segment held the largest share of the market in 2023.
• In terms of application, the market is bifurcated into commercial and residential. The commercial segment dominated the market in 2023.

Outdoor Power Equipment Market Share Analysis by Geography

The geographic scope of the Outdoor Power Equipment Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

Asia Pacific is projected to account for the highest market share during the forecast years. Asia Pacific outdoor power equipment market is further divided into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Infrastructure development activities, including landscape and gardening, are growing in the above countries. In addition, increasing disposable income in the Asian region is further driving the spending on gardening equipment. Such above mentioned factors are projected to drive the market in the region.

Outdoor Power Equipment Market Regional Insights

The regional trends and factors influencing the Outdoor Power Equipment Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Outdoor Power Equipment Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Outdoor Power Equipment Market Report Scope

Outdoor Power Equipment Market Players Density: Understanding Its Impact on Business Dynamics

The Outdoor Power Equipment Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Outdoor Power Equipment Market are:

1. Stihl
2. Ariens Company
3. Deere & Company
4. Honda Motor Co., Ltd.
5. Husqvarna
6. STIGA S.p.A.

Disclaimer: The companies listed above are not ranked in any particular order.

Outdoor Power Equipment Market News and Recent Developments

The Outdoor Power Equipment Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:

• Segway introduced its next-generation robotic lawn mowers, Navimow i Series. The new product is integrated with AI technology. With this technology, the mapping accuracy of the lawnmowers is increased. (Source: Segway, Press Release/Company Website/Newsletter, 2024)
• Husqvarna launched innovative chainsaws, T542i XP and 542i XP. The company has introduced clutch technology in its new chainsaws, which will help the consumer to reduce the energy. (Source: Husqvarna, Press Release/Company Website/Newsletter, 2023)

Outdoor Power Equipment Market Report Coverage and Deliverables

The “Outdoor Power Equipment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles