The report "Outdoor Power Equipment Market by Equipment Type (Lawn Mowers, Saws, Trimmers & Edgers), Power Source (Fuel-based, Electric), Functionality (Connected/Smart Products, Conventional Products), Application and Region - Global Forecast to 2029" The outdoor power equipment market is expected to grow from USD 31.0 billion in 2024 to USD 36.5 billion by 2029, at a CAGR of 3.3% during the forecast period. Increasing homeowner interest in gardening, alongside a growing demand for landscaping services, and the rising popularity of battery-powered outdoor equipment for lawn maintenance and gardening tasks, are significant factors driving the outdoor power equipment market. In addition, the development of intelligent and interconnected outdoor power equipment, along with the rising trend of choosing rental services for such equipment, generates opportunities for market growth.
Saws segment is expected
to grow at the highest CAGR during the forecast period.
The saws is expected to
grow at the highest CAGR during the forecast period. This growth is primarily
driven by the escalating global population, resulting in increased demand for
land and subsequent deforestation. With rising needs for wood across various
sectors such as construction, furniture, and fuel, the demand for saws is
expected to surge. Saws serve not only professional loggers but also
residential users for gardening and sculptors for woodwork. These factors
collectively contribute to the anticipated rapid growth of the saws in the
outdoor power equipment market.
Commercial segment is
expected to grow at the highest CAGR during the forecast period.
Commercial segment is
expected to grow at the highest CAGR during the forecast period. This is
primarily due to heightened demand across sectors such as landscaping,
construction, and agriculture. Businesses are placing greater emphasis on
enhancing efficiency and productivity, leading to increased adoption of
advanced outdoor equipment for various maintenance and operational tasks.
Moreover, global urbanization and ongoing infrastructure development projects
are driving this upward trend. As a result, commercial entities are
increasingly investing in high-performance equipment to meet evolving project
demands, contributing to the projected growth of this segment.
Electric-powered
equipment is expected to grow at the highest CAGR during the forecast period.
Electric-powered
equipment is expected to grow at the highest CAGR during the forecast period.
This growth is driven by the increasing adoption of do-it-yourself (DIY)
practices among residential consumers, propelled by advancements in battery
technology and a rising interest in gardening activities. Furthermore, the
expansion of the electric-powered equipment sector is fueled by ongoing
innovations in battery technology, which enhance performance and cater to the
evolving needs of both professional and residential users. Additionally, there
is a notable shift towards cordless equipment, indicating a broader acceptance
of electric-powered solutions in the market.
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Asia Pacific is expected
to grow at the highest CAGR during the forecast period.
The Asia Pacific region
is expected to grow at the highest CAGR during the forecast period. Asia
Pacific is expected to grow at a higher CAGR during the forecast period. This
surge is driven by several key factors, including rapid urbanization and infrastructure
development across emerging economies such as China and India. Additionally,
increasing disposable incomes and a growing middle class in the region are
boosting demand for outdoor power tools for both residential and commercial
applications. Moreover, the presence of dominant global players such as Makita
Corporation, Honda Motor Co., Ltd., YAMABIKO Corporation, Techtronic Industries
Co. Ltd. and a diverse range of products offered by these companies in the Asia
Pacific market contribute to its accelerated expansion. Overall, the region's
dynamic economic landscape and evolving consumer preferences position it as the
epicenter of growth in the outdoor power equipment sector.
Key players
Major companies
operating in the outdoor power equipment market include Husqvarna Group
(Sweden), The Toro Company (US), Deere & Company (US), Stanley Black &
Decker, Inc. (US), ANDREAS STIHL AG & Co. KG (STIHL) (Germany), Techtronic
Industries Co. Ltd. (Hong Kong), Hondo Motor Co., Ltd. (Japan), YAMABIKO
Corporation (Japan), Makita Corporation (Japan), Robert Bosch GmbH (Germany),
among others.
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