Outdoor Power Equipment Market Size

Market Outlook:

Outdoor Power Equipment Market size crossed USD 35.02 Billion in 2023 and is expected to reach USD 59.85 Million by end of the year 2032, observing around 5.7% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 35.02 Billion
• CAGR (2024-2032): 5.7%
• Forecast Year Value (2032): USD 59.85 Million
• Historical Data Period: 2019-2023
• Largest Region: North America
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

1. Increasing demand for landscaping and gardening: The growing trend of outdoor living spaces and increasing interest in gardening and landscaping activities is driving the demand for outdoor power equipment. As more people invest in maintaining their outdoor spaces, the need for lawnmowers, trimmers, and other power equipment continues to rise.

2. Technological advancements: The development of advanced outdoor power equipment with features such as improved battery life, enhanced performance, and reduced emissions is driving market growth. Manufacturers are investing in research and development to introduce innovative products, including battery-powered and automated outdoor power equipment, which is attracting a wider customer base.

3. Growing urbanization and commercialization: The increasing urbanization and commercialization of areas such as parks, recreational facilities, and sports fields have contributed to the demand for outdoor power equipment. Municipalities, landscaping companies, and commercial property owners are investing in high-quality power equipment to maintain outdoor spaces, driving the market growth.

4. Rising disposable income: As disposable income levels rise, consumers are more willing to invest in outdoor power equipment for personal use. The increasing affordability of outdoor power equipment, coupled with the willingness to spend on leisure and recreation, is driving market growth in the consumer segment.

Industry

Report Scope

Report Coverage	Details
Segments Covered	Type, Power, End Used
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Honda MotorsHusqvarna AB, Makita Corp., Robert Bosch, Techtronic Industries., Yamabiko, AL-KO Kober Group, Briggs & Stratton Corp., Andreas Stihl AG & Company KG, MTD Holdings, Stanley Black and Decker, Andreas Stihl AG & Company KG, CHERVON Trading, Ariens Company, The Toro Company, Deere & Company

1. Environmental concerns: The outdoor power equipment market is facing restraints due to increasing environmental regulations and concerns related to emissions and noise pollution. Manufacturers are under pressure to develop eco-friendly and sustainable products, which may increase production costs and impact profit margins.

2. High maintenance and operational costs: The high maintenance and operational costs associated with outdoor power equipment can act as a restraint on market growth. Consumers and businesses may be reluctant to invest in power equipment with expensive upkeep requirements, limiting market expansion.

3. Seasonal demand: The outdoor power equipment market is susceptible to seasonal demand, with higher sales during the spring and summer months and lower demand in the fall and winter. This seasonal fluctuation can create challenges for manufacturers and retailers in terms of inventory management and sales forecasting. Additionally, it can impact the financial stability of businesses operating in this industry.