Outdoor Power Equipment Market Size, Share, Industry Trends Report Analysis & Top Companies 2029

 

The global outdoor power equipment market size is expected to grow from USD 31.0 billion in 2024 to USD 36.5 billion by 2029, growing at a CAGR of 3.3% during the forecast period.

The rising interest in gardening activities and increasing demand for landscaping services, increasing use of battery-powered outdoor power equipment for lawn maintenance, and rapid growth in construction sector all significantly influence the dynamics of the outdoor power equipment market. In addition, growing inclination toward rental services and increasing popularity of connected outdoor power equipment are all factors that generate opportunities within the outdoor power equipment market.

Lawn Mowers to hold the largest share of the outdoor power equipment market during 2024–2029.

The lawn mowers segment is expected to account for the largest share of the outdoor power equipment market during the forecast period, primarly due to its essential function in lawn maintenance and garden care. With an increasing focus on outdoor activities and gardening, there is a growing demand for outdoor power equipment. Furthermore, the rise in residential and commercial construction projects has intensified the need for such equipment. As a result, the lawn mowers segment continues to thrive, catering to the evolving needs of consumers and businesses seeking efficient solutions for landscaping and property maintenance.

Commerical segment is expected to grow at the higher CAGR in the outdoor power equipment market during the forecast period.

The commercial segment is expected to register the highest CAGR in the outdoor power equipment market during the forecast period, driven primarily by increased demand across various sectors including landscaping, construction, and agriculture. Businesses are placing a greater emphasis on improving efficiency and productivity, leading to a rise in the adoption of advanced outdoor equipment for a wide range of maintenance and operational tasks. Additionally, the ongoing global trend of urbanization and continual infrastructure development projects is further fueling this upward trend. As cities expand and infrastructure projects progress, commercial entities are investing more in high-performance equipment to meet the evolving demands of these projects. This increased investment in cutting-edge equipment is expected to significantly contribute to the projected growth of the commercial segment.

Fuel-based equipment will dominate the market during the forecast period.

The fuel-based equipment is expected to account for the largest share of the outdoor power equipment market during the forecast period. Professional landscapers and turf-care providers, show a strong preference for fuel-based equipment due to its effectiveness in handling demanding tasks like maintaining large lawns, yards, and stadiums. Additionally, the growing popularity of turf sports and the increasing demand for landscaping services further contribute to the widespread use of fuel-based outdoor power equipment. This underscores the vital role that fuel-based equipment plays in meeting the rigorous demands of commercial and professional outdoor maintenance operations.

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Asia Pacific is expected to grow at the higher CAGR in the outdoor power equipment market during 2024–2029.

Asia Pacific is expected to grow at the higher CAGR in the outdoor power equipment market throughout the forecast period. This surge is fueled by strong economic growth, rapid urbanization trends, and increasing disposable incomes across key markets such as China, India, Japan, and South Korea. Additionally, government initiatives focusing on infrastructure development and sustainability are driving market demand. Moreover, a growing emphasis on environmental awareness is encouraging the adoption of energy-efficient and environmentally friendly outdoor power equipment options. These combined factors position the Asia-Pacific region as a significant driver of growth in the outdoor power equipment market.

Key Market Players

The outdoor power equipment companies have /implemented various types of organic and inorganic growth strategies, such as product launches, product developments, partnerships, and collaborations, to strengthen their offerings in the market. The major players are Husqvarna Group (Sweden), The Toro Company (US), Deere & Company (US), Stanley Black & Decker, Inc. (US), ANDREAS STIHL AG & Co. KG (Germany), Techtronic Industries Co. Ltd. (Hong Kong), Honda Motor Co., Ltd. (Japan), YAMABIKO Corporation (Japan), Makita Corporation (Japan), Robert Bosch GmbH (Germany),Honda (Japan), and others. The study includes an in-depth competitive analysis of these key players in the outdoor power equipment market with their company profiles, recent developments, and key market strategies.

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