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Outdoor Power Equipment Market, Trends & Analysis - Forecasts To 2026
Outdoor Power Equipment Market Insights
The global outdoor power equipment market is estimated to witness a high CAGR during the forecast period. Outdoor power equipment mainly consists of high-voltage gas insulated switchgear and low-medium voltage switchgear. Outdoor power equipment is an electric instrument enclosure as a self-contained unit. These equipments are used in various farming activities like gardening and landscaping in commercial as well as household applications. The demand for battery-powered tools and robotic hand tools over traditional equipment are expected to drive the growth of outdoor power equipment market.
Increasing usage of power tools for do-it-yourself projects coupled with growing household activities is likely to propel the market of outdoor power equipment. Growth in construction industry and technological advancements are also driving the market. Growing popularity of artificial grass is expected to restrain growth in the market as this type of grass does not require watering, fertilizing and mowing activities. Fluctuation in prices of raw materials is also expected to restrain growth in the outdoor power equipment market up to a certain extent.
Outdoor Power Equipment Market: By Product
The global outdoor power equipment market can be segmented on the basis of product into cordless tools and rope power tools. The cordless tool segment is expected to grow at a significant CAGR rate during the forecast period owing to the easy maintenance of lithium ion-powered tools and limited space is required for storage. The rope power tool segment is expected to hold the larger market share during forecast period owing to its low cost compared to cordless tools.
Outdoor Power Equipment Market: By Power Source
The global outdoor power equipment can be segmented on the basis of power source into electric, battery and others. The electric segment is expected to witness substantial growth over the forecast period. Electric power equipment performs better compared to battery powered equipment. Growing gardening and agriculture activities are driving the market for electric power equipment. Electric power equipment is easy to operate compared to battery power equipment.
Outdoor Power Equipment Market: By Application
The global outdoor power equipment market can be segmented on the basis of application into commercial and household. The household segment is accounted for the largest market share and is projected to grow at the highest CAGR rate during the forecast period. Growing home gardens, lawns and other garden activities in urban areas is expected to drive the market of house hold sector. The commercial segment is also expected to grow significantly during the forecast period.
Outdoor Power Equipment Market: By Region
The global outdoor power equipment market in terms of region is dominated by North America owing to inclination of do-it-yourself projects and increasing interest of gardening among home owners. The light weight nature of these tools is anticipated to propel the market in this region. The European market for outdoor power equipment is also expected to grow at a high CAGR during the forecast period. Increase in construction of residential projects in France and Germany is expected to further drive the market.
Outdoor Power Equipment Market: End Use Landscape
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase. The key end-users of the outdoor power equipment market are Bechtel, Hochtief and Balfour among others
Outdoor Power Equipment Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Outdoor Power Equipment Market: Share & Competitor Analysis
Some of the key players operating in the Outdoor Power Equipment market Stanley Black & Decker, Inc., Deere & Company, Makita Corporation, Husqvarna, Honda Motor Co, Techtronic Industries Co. Ltd, MTD Products, Blount International, Inc., Emak S.P.A., The Toro Company, STIHL Holding AG & Co. and Alamo Group, Inc. among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In September 2018 Deera & Company acquired Argentina based PLA
In January 2018 Stanley black & Decker acquired Nelson Fastener system
In March 2019, Makita Corporation announced the acquisition of share of Amadera Pneumatics Co., Ltd
The global outdoor power equipment market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the outdoor power equipment market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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