The global Outdoor Power Equipment Market size was USD 31 Billion in 2022 and is expected to reach a value of USD 52.37 Billion in 2032 and register a revenue CAGR of 6% during the forecast period.This market's expansion can be due to a number of variables, including the increased demand for landscaping services and the growing popularity of green spaces in both urban and suburban settings.
The rising demand for landscaping services, particularly in metropolitan areas, is one of the key factors driving market expansion. Demand for landscaping and maintenance services has expanded along with the population growth, which has also raised demand for outdoor power equipment. In addition, as the number of residential properties has grown in response to an increase in people's disposable incomes, landscaping services have become more and more necessary.
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Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as license agreements, partnerships, merger and acquisitions, collaborations, R&D investments, and joint ventures to gain robust footing in the market.
Major Companies:
Husqvarna Group
Deere & Company
MTD Products
Honda Motor Co., Ltd.
STIHL Holding AG & Co. KG
Briggs & Stratton Corporation
The Toro Company
Techtronic Industries Co. Ltd.
Makita Corporation
Stanley Black & Decker, Inc.
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Market Segmentation:
By Product Type Outlook:
Lawn Mowers
Trimmers & Edgers
Blowers
Chainsaws
Others
By Power Source Outlook:
Electric
Gasoline
Others
By End-use Outlook:
Residential
Commercial
Municipal
Regional Outlook:
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
Latin America (Brazil, Rest of LATAM)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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