The Global Market for Outdoor Power Equipment is Forecast to Reach 133 Million Units by 2022
Growing Demand for Cordless and Environment Friendly
Tools to Drive Growth in the Global Outdoor Power Equipment Market, According
to a New Report by Global Industry
Analysts, Inc.
GIA launches comprehensive
analysis of industry segments, trends, growth drivers, market share, size and
demand forecasts on the global Outdoor Power Equipment. The
global market for Outdoor Power Equipment is forecast to reach 133 million units
by 2022, driven by various factors including revival in housing starts and
replacement demand in developed countries, growing demand for innovative and
environment friendly tools including cordless equipment, and increasing
interest in landscaping activities in developing countries led by lifestyle
upgrades.
Outdoor Power Equipment
(OPE) includes tools designed for outdoor activity such as garden cleaning,
lawn mowing, and wood cutting & trimming among others. Demand for outdoor
power equipment is primarily driven by the popularity of outdoor activities. At
the same time, new home ownership rates, employment levels, and consumer
confidence levels influence the sales momentum. Growing importance of gardening
as a recreational activity, zeal to develop gardens in homes, as well as the
desire to enhance aesthetics through beautiful and properly maintained lawns
and gardens continue to drive the purchase of new outdoor appliances. Growth in professional landscaping is another
factor driving demand of lawn mowers and other gardening tools. The market also stands to benefit from replacement
demand as conventional equipment owners trade up for new environmentally
friendly and technologically advanced tools.
Product
innovations and new technologies continue to reshape the market with new
rollouts focused on improving productivity and efficiency with extended maintenance
intervals, reduced costs, increased fuel efficiency, longer run times and
increased engine life. Cordless
tools have gained popularity in recent years, with large plot owners and
aging homeowners turning to battery powered cordless power tools as an
alternative to conventional tools.
Growing commercial value of zero emission product features and concerns
over ethanol fuel powered equipment are driving customers to opt for battery
operated outdoor power equipment with improved rechargeable options and optimum
maneuverability. Another key trend in the market is the growing adoption of
robotic mowers. After gaining widespread popularity in the European market,
robotic lawnmowers are gaining wide acceptance in the U.S. With low fuel
consumption being the most coveted product benefit for owners of residential
lawn tractors, fuel injection technology is gaining in prominence over riding
lawn mowers. Demand
for battery powered appliances such as lawn mowers and chainsaws continue to
experience steady growth led by attributes such as high sensitivity, environment
friendly features and convenience. Recent trends in technology is further paving the way for more advanced,
quieter and eco-friendly leaf blowers. Also driven by the growing tech-savvy
population worldwide, online retailing is gaining pace in recent years with equipment
dealers increasingly embracing m-commerce as part of their digital marketing
strategy to reach out to more consumers.
As stated by the new
market research report on Outdoor
Power Equipment, the United States represents the
largest market worldwide. Asia-Pacific ranks as the fastest growing market with
a CAGR of 6.1% over the analysis period, led by factors such as rising disposable
incomes, expanding base of affluent middle class population, lifestyle
upgrades, new house constructions, and growing interest in outdoor activities such
as gardening.
Major players covered in
the report include Alamo Group Inc., The Ariens Company, Blount International
Inc., The Bosch Group, Briggs and Stratton Corporation, Deere and Company,
Global Garden Products Group, Husqvarna Group, MTD Products, The Toro Company, STIHL
Holding, and Techtronic Industries, among others.
The research report titled
“Outdoor
Power Equipment: A Global Strategic Business Report” announced by Global
Industry Analysts Inc., provides a comprehensive review of market trends, issues,
drivers, mergers, acquisitions and other strategic industry activities. The
report provides market estimates and projections for outdoor Power Equipment market
in thousand units for all major geographic markets including the US, Canada,
Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific
(China, India and Rest of Asia-Pacific), Middle East and Latin America (Brazil
and Rest of Latin America). Key product segments analyzed include Bug Killers,
Chain Saws, Hedge Trimmers, Leaf Blowers (Back Pack Leaf Blowers, and Handheld
Leaf Blowers), Outdoor Grills, (Charcoal-Fired Outdoor Grills, Electric-Fired
Outdoor Grills, And Gas-Fired Outdoor Grills), Walk Behind Power Mowers, Riding
Garden Tractors, Riding Mowers & Lawn Tractors (Front Engine, and Rear
Engine), Rotary Tillers, Snow Throwers and Trimmers/ Brush Cutters.
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