Outdoor Power Equipment Industry Analysis, Research, Review, Applications and Forecast to 2030

 The global outdoor power equipment market was valued at USD 46.53 billion in 2021 and is projected to grow significantly, reaching USD 76.61 billion by 2030, expanding at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2030. This growth can largely be attributed to the increasing demand for cordless outdoor power equipment, as more consumers are seeking flexibility, convenience, and portability in their tools. Cordless tools eliminate the need for constant recharging through outlets, making them ideal for outdoor activities, particularly in larger spaces like gardens and lawns.

Furthermore, the growing popularity of home improvement projects and a surge in gardening activities bode well for the market during the forecast period. The global trend toward enhancing homes, especially during the pandemic, has led to increased spending on outdoor tools, boosting the demand for both outdoor power equipment and garden tools. Companies like The Toro Company, Husqvarna, ANDREAS STIHL AG & Co. KG, and others experienced significant profits from this trend as people spent more time at home, contributing to extended gardening seasons.

The outbreak of COVID-19 in 2020 initially had a negative impact on many industries worldwide, including the outdoor power equipment market. The early months of the pandemic saw disruptions in production, supply chains, and consumer purchasing behavior. However, as restrictions eased and industries resumed operations, demand for various outdoor power equipment surged, particularly as people turned to gardening and outdoor projects to occupy their time at home. Additionally, a notable increase in the market for Do-it-yourself (DIY) equipment and Do-it-for-me (DIFM) services in both commercial and residential segments is expected to further fuel market growth in the coming years.

Gather more insights about the market drivers, restrains and growth of the Outdoor Power Equipment Market

Regional Insights:

North America Outdoor Power Equipment Market Trends

North America held a significant portion of the global outdoor power equipment market, accounting for 34.91% of the total share in 2021. The region’s growth can be attributed to its large geographical area, which supports more extensive outdoor spaces like gardens and lawns compared to more densely populated regions. This larger area naturally leads to an increased demand for outdoor power equipment, as homeowners and businesses need tools for lawn care, gardening, and landscaping. Additionally, government investment in infrastructure is expected to contribute to the market's growth. For instance, in 2022, the Canadian government allocated USD 1.5 billion to the Canada Mortgage and Housing Corporation to expand its rapid housing initiative, which focuses on building more homes. As new communities are developed, the demand for landscaping tools and outdoor power equipment is expected to grow.

Asia Pacific Outdoor Power Equipment Market Trends

The Asia Pacific market is expected to witness the highest growth rate during the forecast period, with an anticipated CAGR of 6.5%. This rapid growth is driven by several factors, including rising disposable income and changing lifestyles in emerging economies like India and China. As consumers' purchasing power increases, they are more likely to invest in outdoor power equipment for both personal and professional use. Moreover, the region hosts numerous annual sports events, including the Indian Premier League (IPL), World Baseball Classic, Asian Games, and other major sporting events. These events often require upgrades to sports stadiums and fields, thus increasing the demand for outdoor power equipment to maintain and enhance these venues.

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Key Companies & Market Share Insights:

The outdoor power equipment market is highly fragmented and competitive, with numerous global and regional players operating within the space. Companies like Makita Corp, Techtronic Industries Ltd, Robert Bosch, and Ariens Company are key players in this market, and they adopt various strategies such as acquisitions, innovative product launches, and significant investments in research and development to maintain their competitive edge.

For instance, in January 2020, The Toro Company announced its acquisition of Venture Products, Inc., a company specializing in articulating turf, snow, and ice management equipment. This acquisition was part of Toro’s strategy to expand its presence in the professional market and strengthen its portfolio of outdoor power equipment offerings for commercial use.

Many companies also focus on providing cost-effective and ergonomic products, which improve ease of use, enhance productivity, and provide greater comfort for users, making them popular among homeowners and professionals alike. For example, in January 2022, Robert Bosch GmbH launched the Keo cordless garden saw, part of the 18V Power for All System. This system is a collaboration with Husqvarna Group, and the product features a powerful interchangeable battery pack and replaceable saw blades, designed for DIY applications. The launch of such user-friendly and versatile products is indicative of the growing demand for more practical and adaptable tools in the outdoor power equipment market.

Key Outdoor Power Equipment Companies:

• 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
• Deere & Company

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Outdoor Power Equipment Market Drivers, Industry Survey and Business Development Analysis till 2030

 The global outdoor power equipment market was valued at USD 46.53 billion in 2021 and is projected to reach USD 76.61 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2030. This growth can be attributed to the rising demand for cordless outdoor power equipment, driven by consumers seeking greater flexibility and portability in their tools. In response to this demand, many companies have been introducing technological advancements in outdoor power equipment. For instance, in February 2020, Robert Bosch GmbH launched two autonomous lawn mowers, the Indego M 700 and Indego M+ 700. These models feature 18 V lithium batteries and brushless DC motors, designed to maintain medium-sized gardens of up to 700 square meters on a single charge, offering enhanced convenience and efficiency.

Several factors are expected to fuel the growth of the outdoor power equipment market, including increasing urbanization, higher disposable incomes, and growing infrastructure development. As a result, there has been a rising demand for landscaping services, further driving the market. Additionally, growing environmental awareness is pushing consumers toward eco-friendlier options, particularly outdoor power equipment that runs on lithium-ion batteries. These batteries are environmentally friendly and maximize energy efficiency, making them an attractive choice for consumers. Companies are continuously innovating in the area of lithium-ion batteries. For example, Techtronic Industries introduced red lithium-ion batteries for its cordless power tools in 2021, which offer faster performance and extended battery life, enhancing overall equipment efficiency.

Gather more insights about the market drivers, restrains and growth of the Outdoor Power Equipment Market

Another trend contributing to the market's growth is the increasing popularity of gardening, particularly among younger generations. Many young people are turning toward growing their own vegetables, fruits, and herbs, often in smaller spaces. As a result, the gardening and lawn care industry is adapting by creating equipment that is lighter and more compact, making it easier to use in smaller yard areas. This shift reflects the evolving preferences of consumers who seek comfort, convenience, and efficiency in their gardening tools.

Power Source Segmentation Insights:

The outdoor power equipment market is segmented based on power sources into three categories: gasoline, battery, and electric corded. In 2021, the gasoline-powered segment held the largest market share, accounting for 56.8%. However, demand for gasoline-powered equipment is expected to decline over time due to concerns about gas fumes, noise pollution, and the negative environmental impact of these machines. To address these issues, several government regulations have been introduced to limit the use of gasoline-powered outdoor equipment. For example, California is set to implement laws as early as 2024 banning gas-powered chainsaws, lawnmowers, and leaf blowers in an effort to reduce environmental harm.

On the other hand, the battery-powered equipment segment is expected to grow at a CAGR of over 6.9% during the forecast period. The expansion of battery-powered equipment is due to several advantages over gasoline-powered alternatives, including lower shipping costs, lighter weight, and increased affordability when purchased online. Additionally, many online retailers are adjusting their inventories to comply with new government regulations by offering more electric outdoor power equipment. As these regulations encourage the development of environmentally friendly products, battery-powered outdoor equipment is likely to gain further market traction.

Overall, the global outdoor power equipment market is experiencing significant growth, driven by technological innovations, a shift toward more sustainable power sources, and evolving consumer preferences. Companies are increasingly focusing on developing lightweight, energy-efficient, and environmentally friendly equipment to meet the changing demands of modern consumers.

Order a free sample PDF of the Outdoor Power Equipment Market Intelligence Study, published by Grand View Research.