DUBLIN--(BUSINESS WIRE)--The "Outdoor Power Equipment Market - Global Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global outdoor power equipment market is expected to grow at a CAGR of 5.36% during 2022 to 2028.
Market Trends and Opportunities
Increasing In Commercial Construction
The construction of various hotels is expected to support the outdoor power equipment market growth. In Q1 2021, in Europe, more than 40 hotels were opened.
In Germany, Markisches Zentrum Redevelopment is a construction project for building new office space, which is expected to be completed by 2023. The projects involve shopping centers, retail spaces, offices, health centers, residential towers, and hotels.
Emerging Adoption of Sustainable Equipment
In recent years, the landscaping service industry is increasingly adopting green lawn care technology, which is environmentally friendly and has a low carbon footprint. According to a report by the California Air Resource Board (CARB) 2020, small off-road engines, such as lawnmowers, chainsaws, leaf blowers, and trimmers, contribute to higher emissions than 14.4 million passenger cars in the state.
U.S. governments are increasingly emphasizing reducing greenhouse gas (GHG) emissions. As a result, the usage of lawn and garden equipment that causes environmental pollution is expected to go down, encouraging the adoption of electric equipment in the outdoor power equipment market.
A Surge in Landscaping Services & Garden Maintenance
The popularity of gardening and landscaping services has also increased in the U.S. to provide an aesthetic appeal to commercial and residential lawns, and gardens create a surge in market demand. Customers increasingly outsource landscaping services to maintain corporate, institutional, and residential areas. They are expanding their planting areas, replacing lawns, and designing and building new landscape areas.
Also, the demand for yard and lawn care services is increasing from the non-commercial end-user segment due to the high disposable incomes. Hence, the increasing landscaping services are expected to boost the commercial outdoor power equipment market during the forecast period.
Market Segmentation
by Equipment Type
- Lawn Mowers
- Chainsaws
- Snow Blowers
- Tillers
- Trimmers
- Leaf Blowers
- Others
by Power Source
- ICE
- Cordless
- Corded
by End-User
- Residential
- Commercial
by Category
- Mass
- Premium
by Distribution Channel
- Offline
- Online
Key Company Profiles
- Husqvarna
- Deere & Company
- Honda Motor Company
- Stanley Black & Decker
- The Toro Company
- Robert Bosch
Other Prominent Vendors
- ARIENS CO
- STIGA S.p.A
- Makita
- STIHL
- Techtronic Industries
- Snow Joe
- Einhell
- Masport
- Greenworks Tools
- Emak S.p.A
- Generac Power Systems
- Briggs & Stratton
- SUMEC Group Corporation
- WEN Products
- ECHO
Key Questions Answered
1. How big is the outdoor power equipment market?
2. What is the growth rate of the global outdoor power equipment market?
3. Who are the key players in the global outdoor power equipment market?
4. Which region dominates the global outdoor power equipment market share?
5. What are the significant trends in the outdoor power equipment market?
For more information about this report visit https://www.researchandmarkets.com/r/1mkyif
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