The global outdoor power equipment market in terms of revenue was estimated to be worth USD 26.4 billion in 2021 and is poised to reach USD 35.8 billion by 2026, growing at a CAGR of 6.3% from 2021 to 2026. The new research study consists of an industry trend analysis of the market.
Lawn Mowers were the
most extensively used outdoor power equipment in the market.
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. 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 held larger share of the market
The residential/DIY
application segment is projected to account for the larger size of the 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.
Fuel-powered equipment
held larger share of the outdoor power equipment market
The fuel powered segment
is projected to account for the larger size of the 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. 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.
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Asia Pacific is expected
to register highest growth in the market during forecast period
The market in APAC is
projected to register the highest growth rate from 2021 to 2026. The market in
APAC can be further segmented into China, Japan, India, South Korea, and Rest
of APAC.
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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