Chicago, Aug. 20, 2023 (GLOBE NEWSWIRE) — The Outdoor Power Equipment Market by Equipment Type (Lawn Mower, Chainsaw, Trimmer & Edger), Applications (Commercial, Residential/DIY), Functionality (Connected/Smart, Conventional), Power Source (Fuel, Electric) and Region – Global Growth Driver and Industry Forecast to 2026“, As opposed to North America, where there is an established garden care culture, the affinity for gardening activities in APAC is slowly increasing. However, due to increasing urbanization leading to increasing consumer disposable income, there is a growing demand for consumer durables such as outdoor power equipment. Government across countries in APAC are curating and investing in several infrastructural projects to cater to the growing population and promote sustainable landscaping and green infrastructure.
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Outdoor Power Equipment Market Report Scope
|Estimated Market Size||USD 26.4 billion in 2021|
|Projected Market Size||USD 35.8 billion by 2026|
|Market Size Available for Years||2017–2026|
Key Market Players in Outdoor Power Equipment Market
- Deere & Co. (US),
- Husqvarna (Sweden),
- STIHL Group (Germany),
- Stanley Black & Decker (US),
- The Toro Company (US).
“Browse in-depth TOC on “Outdoor Power Equipment Market, Market trends, Market Report, Market Value, Market Forecast, Market Growth “
238 – Tables
68 – Figures
307 – Pages
Outdoor Power Equipment Market Dynamics
DRIVERS: Growing demand for landscaping services and increasing interest of homeowners in gardening activities
The market is mainly driven by the growing demand by homeowners for landscaping services to make their homes aesthetically pleasing, as well as by commercial users to boost the appeal of their properties.
In the landscaping industry, a wide range of outdoor power equipment, such as lawn mowers, hedge trimmers, blowers, and saws, are used in diverse landscaping activities that include lawn maintenance, hardscaping, tree care, lawn renovation, organic or natural lawn care, and snow removal.
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RESTRAINT: High maintenance cost and availability of outdoor power equipment on lease
Outdoor power equipment, such as lawn mowers and trimmers, are precision instruments. Lots of parts such as motors, air filters, and fuel filters of these outdoor power equipment require regular maintenance.
For precise operations, outdoor power equipment are required to be recalibrated after regular intervals. Regular maintenance includes oiling, sharpening, and replacing parts, and other repairs required for the proper working of tools. Thus, the cost of maintenance of outdoor power equipment is relatively high.
OPPORTUNITIES: Development of smart and connected outdoor power equipment
With the growing adoption of IoT devices and the increasing popularity of smart and connected products, manufacturers focus on offering connected equipment. Advancements in technologies and adoption of wireless connectivity practices lead to the innovation of smart and connected tools.
Leading outdoor power equipment manufacturers are focusing more on the production of smart and connected outdoor power equipment. For instance, John Deere started offering JDLink to customers at zero additional cost, which is a digital platform that collects real-time equipment data and transmits it to John Deere service centers.
CHALLENGES: Safety regulations and strict trade policies
Outdoor power equipment safety and regulatory compliance are critical issues for manufacturers as these tools are supplied worldwide. Domestic and international distribution channels and end users demand safety, reliability, and rigorous compliance with the existing and emerging safety standards.
Hence, it is important for tool manufacturers to comply with these safety regulations. In addition to mandatory regulations, manufacturers also must address important concerns of retailers and consumers regarding quality and environmental sustainability.
Power Tools Market Size, Share & Industry Growth Analysis Report by Product (Drilling and Fastening Tools, Demolition Tools, Sawing and Cutting Tools, Material Removal Tools, Routing Tools), Mode of Operation (Electric, Pneumatic), Application and Region – Global Growth Driver and Industry Forecast to 2027
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