Outdoor Power Equipment Market Growth & Trends
The global outdoor power equipment market size was valued at USD 46.53 billion in 2021 and is expected to reach USD 76.61 billion by 2030, registering a CAGR of 5.9% during the forecast period, according to a new report by Grand View Research, Inc. The market growth can be credited to the increasing adoption of outdoor power equipment, using lithium-ion batteries and cordless outdoor power equipment.
For instance, in September 2021, DE Walt, one of the brands of Stanley Black & Decker, announced the launch of a 20V MAX lithium-Ion batteries system to support a variety of outdoor power equipment. Furthermore, government and public places need to be maintained and have an aesthetic appeal, additionally stimulating demand for the lawn mowers. Besides, the growing perception that gardening is a leisure activity is a critical factor in the outdoor power equipment demand.
The rising technological advancements in outdoor power equipment are increasing the inclination of people toward gardening, which is expected to impact growth. For instance, in February 2022, Makita Corporation launched two new Lawn Mowers, XML10CT1 (21″ Lawn Mower Kit) and XML11CT1 (21″ Self-Propelled Lawn Mower Kit). These two product features 36V (18V X2) LXT power batteries, which signify their capabilities in the cordless lawn and garden market. Furthermore, the rise in residential construction and rising demand for lawn and electric cordless lawn & garden tools in commercial spaces, parks, and sports fields are the factors expected to drive market growth.
Vendors' rising adoption of ergonomic designs enables people to perform activities with less labor and makes their tasks more manageable. It allows people to perform their functions with much less time than non-ergonomic tools. For instance, in November 2021, The Toro Company launched five new gas and battery-based Super Recycler models for the lawn care market. These products are designed with an ergonomic grip, which enables gardeners to have greater cutting convenience, and are developed with additional safety features, to pack within a folded handle.
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Outdoor Power Equipment Market Segmentation
Grand View Research has segmented the global outdoor power equipment market based on the power source, end-use, equipment, and region:
Outdoor Power Equipment Power Source Outlook (Revenue, USD Million, 2018 – 2030)
- Electric Corded
Outdoor Power Equipment End-Use Outlook (Revenue, USD Million, 2018 – 2030)
List of Key Players in Outdoor Power Equipment Market
- Husqvarna AB
- Makita Corp
- Honda Motors Co. Ltd
- Briggs & Stratton Corp.
- Andreas Stihl AG & Company KG
- MTD Holdings Inc.
- Stanley Black and Decker Inc.
- Andreas Stihl AG & Company KG
- CHERVON (China) Trading Co., Ltd
- Techtronic Industries Ltd.
- Yamabiko Corporation
- Robert Bosch
- AL-KO Kober Group
- Ariens Company
- The Toro Company
Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
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