Rising Preference for Gardening & Landscaping Activities in Residential, Commercial and Public Sites to Drive Growth in the Global Outdoor Power Equipment Market
The global market for Outdoor Power Equipment is forecast to exceed 145 million units by 2024 , driven by rising importance of lawn, gardening and landscaping activities in residential, commercial and public locations, healthy momentum in construction spending, and wider availability of advanced equipment in durable, cordless, and eco-friendly designs. 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. ...