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The outdoor power equipment market size is valued to increase USD 11.51 billion, at a CAGR of 6.44% from 2023 to 2028. Increasing demand for outdoor natural aesthetics will drive the outdoor power equipment market.
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The outdoor power equipment industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The gasoline segment is estimated to witness significant growth during the forecast period.
Outdoor power equipment, driven by engines, traditionally relies on gasoline-powered internal or external combustion mechanisms. Examples of such tools encompass chainsaws and acetylene welders, which hold significant utility in areas devoid of electric power sources. However, these tools present drawbacks, such as excessive noise and harmful emissions. The gasoline segment in the market is anticipated to experience a slight decline in growth due to the increasing preference for electric alternatives. Electric motor-driven equipment is gaining traction, with torque output and cooling systems being crucial considerations. Lubrication systems and cutting deck designs are essential features that enhance the performance and durability of these tools.
Vibration damping, ignition systems, and ergonomic design contribute to user comfort and efficiency. Maintenance scheduling and fuel efficiency are essential factors driving the adoption of electric outdoor power equipment. Mulching systems and blade geometry are essential aspects of lawn and garden equipment, while manufacturing processes and durability testing ensure product quality. Starter motors, robotic mowing, power transmission, and warranty claims are other critical elements shaping the market. Fuel injection systems, engine diagnostics, battery technology, and air filtration systems are vital components of electric power equipment, contributing to their efficiency and longevity. The power-to-weight ratio, emission standards, and internal combustion engine safety features are essential considerations for gasoline-powered tools.
The Gasoline segment was valued at USD 14.08 billion in 2018 and showed a gradual increase during the forecast period.
Operator safety features, GPS navigation, materials science, remote control, and quality control are crucial aspects of modern outdoor power equipment. According to recent studies, the electric market is projected to grow by 15.3% in the next year, with an anticipated expansion of 18.7% in the following year. The gasoline segment, on the other hand, is expected to experience a decline of 3.1% in the upcoming year, followed by a decrease of 4.5% in the following year. These trends reflect the evolving market dynamics and the increasing preference for electric outdoor power equipment.
North America is estimated to contribute 39% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In the United States, the market is experiencing growth due to the rising popularity of gardening and the increasing number of households engaging in home food production. This trend is supported by various associations in North America, such as the Landscape Architecture Canada Foundation (LACF), which focuses on sustainable landscapes to promote the adoption of landscape architecture. These initiatives are expected to boost demand for gardening and lawn tools, thereby driving the growth of the market in the region. According to recent statistics, approximately 42 million households in the US have gardens, and this number is projected to increase by 10% by 2025.
Furthermore, the market for residential landscaping services in the US is estimated to reach USD103.7 billion by 2023. These figures underscore the significant potential for growth in the market in North America.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market is witnessing significant advancements driven by the integration of innovative technologies and regulatory pressures. The adoption of electric motors in outdoor power equipment is revolutionizing performance, offering quieter operation and increased efficiency compared to traditional gasoline engines. In contrast, the effect of battery technology on runtime and power is a key consideration, with manufacturers continuously striving to enhance energy density and reduce charging times. Two-stroke and four-stroke engines have long been compared in the outdoor power equipment industry. While two-stroke engines offer power and simplicity, four-stroke engines provide better fuel efficiency and lower emissions.
Optimization of cutting deck design for efficient mulching is another trend, with manufacturers focusing on reducing material clogging and improving overall performance. Robotic mowing systems are gaining traction, with navigation algorithms playing a crucial role in ensuring effective coverage and maneuverability. Operator safety features, such as automatic shut-off systems and protective housing, are increasingly important considerations for manufacturers. Blade geometry significantly influences cutting quality, with manufacturers investing in research to optimize designs for various grass types and conditions. Noise reduction techniques, such as insulation and vibration dampening, are essential for residential applications. Engine diagnostics for preventive maintenance are becoming standard, allowing for early identification and resolution of potential issues.
The development of lightweight materials for improved power-to-weight ratio is a key focus, as is the study of fuel injection systems for better fuel efficiency. Testing methods for evaluating the durability of outdoor power equipment components are rigorous, with manufacturers employing advanced manufacturing techniques and design for reliability to improve the product lifecycle. Innovative power transmission systems, such as belt-driven and direct-drive systems, are being explored for enhanced efficiency. Robust quality control processes ensure consistent product performance and customer satisfaction. Emission standards continue to impact engine design, with manufacturers investing in variable speed control mechanisms and advanced lubrication systems for prolonged engine life.
The market is a dynamic and competitive landscape, with continuous innovation and improvement driving growth. Adoption rates of advanced technologies, such as electric motors and robotic mowing systems, are significantly higher in developed regions, accounting for over 60% of the market share.
The outdoor power equipment market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the outdoor power equipment market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape of Outdoor Power Equipment Industry
Companies are implementing various strategies, such as strategic alliances, outdoor power equipment market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
ANDREAS STIHL AG and Co. KG - This company specializes in providing outdoor power solutions for various industries and individuals.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Outdoor Power Equipment Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
158 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.44% |
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Market growth 2024-2028 |
USD 11.51 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.04 |
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Key countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
What is the expected growth of the Outdoor Power Equipment Market between 2024 and 2028?
USD 11.51 billion, at a CAGR of 6.44%
What segmentation does the market report cover?
The report segmented by Type (Gasoline, Electric corded, and Battery), End-user (Residential and Commercial), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)
Which regions are analyzed in the report?
North America, Europe, APAC, Middle East and Africa, and South America
What are the key growth drivers and market challenges?
Increasing demand for outdoor natural aesthetics, Seasonal nature of landscaping business
Who are the major players in the Outdoor Power Equipment Market?
Key Companies ANDREAS STIHL AG and Co. KG, AriensCo, BAD BOY JOE LLC, Briggs and Stratton LLC, D and D Motor Systems Inc., Deere and Co., Emak Spa, Generac Holdings Inc., Greenworks Tools, Honda Motor Co. Ltd., Husqvarna AB, Kubota Corp., Makita Corp., Maruyama Mfg. Co. Inc., Robert Bosch GmbH, Sharpex Engineering Works, Stanley Black and Decker Inc., STIGA S.p.A., Techtronic Industries Co. Ltd., and The Toro Co.
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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