According to a research report "Outdoor Power
Equipment Market
with Covid-19 Impact Analysis, by Equipment Type (Lawn Mower, Chain Saw,
Trimmer & edger), Application (Commercial, Residential), Power Source
(Fuel, Electric), and Geography - Global Forecast to 2026" published by MarketsandMarkets, the Global
Outdoor Power Equipment Market is projected to reach USD 27.3 billion by 2026
from USD 23.4 billion in 2021; it is expected to register a CAGR of 3.2% from
2021 to 2026. In the technical aspect, owing to major R&D investments by
global players, there have been tremendous developments in the outdoor power
equipment arena, starting from cordless tools, incorporation of sensors, to the
adoption of industry 4.0 and robotics to create autonomous equipment. These
developments, along with a growing culture of garden and lawn care, increasing
affinity for turf sports such as Golf, increase in fleets of landscaping
service providers, and increasing potential of the construction sector to adopt
outdoor power equipment are contributors to the growing demand for outdoor
power equipment. Furthermore, initiatives by government and municipalities
across regions for adopting sustainable landscaping and green infrastructure
projects have also positively impacted the demand for outdoor power equipment.
“LAWN MOWERS TO HOLD LARGEST LARGEST SIZE OF OUTDOOR
POWER EQUIPMENT MARKET DURING FORECAST PERIOD”
The lawn mowers segment is projected to account for
the largest size of the outdoor power equipment market from 2021 to 2026. The
growing demand for lawn mowers can be attributed to the increasing affinity of
residential users for lawn and garden care activities and the increasing demand
for landscaping services. Lawn mowers are one of the most widely used outdoor
power equipment for trimming grass, maintaining and decorating lawns and yards,
and maintenance of parks and stadiums. Increasing population leading to
increasing residential and commercial spaces with affinity for private lawns is
fueling the demand for lawn mowers. Other major end users of lawn mowers
include municipalities and landscaping service providers Furthermore, the
growing affinity for turf sports such as Golf is fueling the demand for lawn
mowers.
“RESIDENTIAL/DIY APPLICATION TO HOLD LARGER SIZE OF
OUTDOOR POWER EQUIPMENT MARKET DURING FORECAST PERIOD”
The residential/DIY application segment is projected
to account for the larger size of the outdoor power equipment market from 2021
to 2026. Residential end users can be homeowners and do-it-yourself (DIY)
enthusiasts. There is an already established and flourishing culture of lawn
and garden care across North America and Europe, which is further increasing
across other regions as well. Increasing inclination of residential end users
for undertaking gardening and home refurbishment activities for improving
aesthetics is a major factor contributing to the increasing adoption of outdoor
power equipment. Additionally, initiation of major infrastructural projects and
growing affinity of homeowners for private lawns fuels the demand for outdoor
power equipment. Furthermore, increasing consumer disposable income is
resulting in higher demand for outdoor power equipment.
“FUEL-POWERED EQUIPMENT TO HOLD LARGER SIZE OF
OUTDOOR POWER EQUIPMENT MARKET DURING FORECAST PERIOD”
The fuel powered segment is projected to account for
the larger size of the outdoor power equipment market from 2021 to 2026.
Fuel-powered equipment can work on gas, diesel, or petrol and deliver better
power and torque, owing to which they are being increasingly adopted by
professional arborists and loggers for deforestation and wood clearing
activities. Professional landscapers and turf care providers prefer fuel-power
equipment for heavy-duty operations, such as large lawns and yards, and
stadiums. Increasing affinity for turf sports and growing demand for landscaping
services, therefore, are fueling the demand for fuel-powered outdoor power
equipment. Many companies are investing significantly in R&D for improving
technical aspects of fuel-powered equipment, which has successfully reduced
noise and exhaust fumes, and improved operator comfort.
“NORTH AMERICA TO HOLD LARGEST SIZE OF OUTDOOR POWER
EQUIPMENT MARKET DURING FORECAST PERIOD”
North America is projected to account for the
largest size of the outdoor power equipment market from 2021 to 2026. North
America can be further segmented into the US, Canada and Mexico. In North
America, there exists a culture of lawn and garden care, which is further
increasing as a result of growing affinity of people towards gardening
activities and increasing number of private lawns. Additionally, there is an
increasing demand for do-it-yourself techniques in the region, which is driving
homeowners to undertake several refurbishment and beautification projects.
Moreover, the participation of North America in turf sports such as Golf is
witnessing massive year-on-year growth. Increasing demand for landscaping
services by both residential and commercial establishments is another major
factor fueling the demand for outdoor power equipment. Furthermore, government
regulations to reduce environmental impact is also driving demand for
electric-powered equipment in the region.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=206862770
Key
Market Players
Briggs & Stratton (US), Deere & Company
(US), HONDA (Japan), Husqvarna (Sweden), Makita (Japan), Robert Bosch
(Germany), Stanley Black & Decker (US), STIHL Group (Germany), Techtronic
Industries (TTI) (Hong Kong), and The Toro Company (US) are a few major players
in global Outdoor Power Equipment Market.
About
MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B
research on 30,000 high growth niche opportunities/threats which will impact
70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers
worldwide including 80% of global Fortune 1000 companies as clients. Almost
75,000 top officers across eight industries worldwide approach MarketsandMarkets™
for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at
MarketsandMarkets™ are tracking global high growth markets following the
“Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with
the clients to identify new opportunities, identify most important customers,
write “Attack, avoid and defend” strategies, identify sources of incremental
revenues for both the company and its competitors. MarketsandMarkets™ now
coming up with 1,500 MicroQuadrants (Positioning top players across leaders,
emerging companies, innovators, strategic players) annually in high growth
emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000
companies this year for their revenue planning and help them take their
innovations/disruptions early to the market by providing them research ahead of
the curve.
MarketsandMarkets’s flagship competitive
intelligence and market research platform, “Knowledgestore” connects over
200,000 markets and entire value chains for deeper understanding of the unmet
insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™
INC.
630 Dundee Road
Suite
430
Northbrook,
IL 60062
USA:
1-888-600-6441
No comments:
Post a Comment