Outdoor Power Equipment Market Report

With advancements in technology, introducing new products has always been an important market and industry development driver, helping organizations attract more customers and fulfill rising demand. As the popularity of smart and connected products develops, manufacturers are focused on providing connected equipment. Smart and connected devices are being developed as a result of technological breakthroughs and the use of wireless networking approaches. Leading outdoor power equipment manufacturers are recognising the need of smart and connected equipment production.

For example, in February 2019, Husqvarna unveiled the Husqvarna Automower® 435X AWD, an AI-enabled robotic mower with all-wheel drive and smart home networking. This popular, fully autonomous robotic lawn mower is designed to handle difficult terrain and slopes with an inclination of up to 70%, and it is compatible with Alexa, Google Hom,e and an open API for smart home connectivity. However, with stricter pollution-related regulations and more environmentally concerned consumers, there has been an increasing trend towards electric and battery-powered equipment. The usage of battery or electric technology minimizes the equipment's operational expenses and weight of the equipment.

Rising demand for high-quality outdoor power equipment is likely to drive market expansion in the forecast period. Furthermore, the expansion of the construction sector may be responsible for the expansion of the outdoor power equipment market. The massive development activities in emerging nations attempting to establish smart cities that can attract visitors are expected to boost market demand for outdoor power equipment. Furthermore, changing infrastructural patterns are anticipated to drive more demand for outdoor power equipment. As cities develop, consumers will become more ready to spend their money on durable products, with leisure activities like golf and landscaping services helping to raise demand for commercial and residential outdoor power equipment.

Furthermore, shifting infrastructure designs have led in the development of innovative home décor that takes up less room. The emphasis is shifting towards modest and ecologically sustainable living. Green and sustainable buildings are creating opportunities for builders and architects thus encouraging market expansion.

• Increased demand for environmentally friendly and quieter equipment.
• Adoption of lightweight materials for improved durability.
• Customizable features catering to specific user needs and preferences.
• Smart technology integration for enhanced user experience and efficiency.

Major market players are focusing their efforts on research and development in order to create products that fulfill client expectations. In order to get a competitive edge in the global market, they also pursue various market strategies such as technical improvements, mergers, and acquisitions. In April 2019, ECHO Incorporated, a renowned manufacturer of high-quality outdoor power equipment for commercial and household usage announced a new product line, the ECHO eFORCE 56V battery system. ECHO's new product line gives consumers a wider range of strong and simple-to-use outdoor equipment for the home garden, with the same high quality and power as professional landscapers.

Recently, Karcher released an autonomous robotic floor scrubber in April 2022, expanding its autonomous product range with a smart robotic scrubber. The KIRA B 100 R robot is powered by Brain Corporation Brain OS. It is the internationally recognized and commercially certified software foundation for Autonomous Mobile Robots (AMRs) and their functioning interior public spaces. Also, in September 2021, STIHL released the MSA 300 cordless chainsaw, which has a greater energy content but is less in weight. This includes the STIHL AP 500 S battery pack and is designed for professional use in forestry, landscaping, and horticulture.

Several components of outdoor power equipment, such as motors, air filters, and fuel filters, require frequent maintenance. Outdoor power equipment must be calibrated at regular intervals to ensure exact functioning. Oiling, polishing, and replacing components, as well as other repairs, are all part of regular maintenance. As a result, the cost of outdoor power equipment maintenance is relatively high. Consumers, particularly in underdeveloped nations, are hesitant to spend a large sum of money on equipment maintenance when laborers are accessible at a lesser cost.

Additionally, the cost of ownership of outdoor power equipment rises as a result of these maintenance and repair requirements. Apart from that, outdoor power equipment safety and regulatory compliance are key challenges for manufacturers since these products are distributed all over the world. Domestic and international distribution channels, as well as end users, expect safety, dependability, and strict adherence to existing and new safety requirements. As a result, it is critical for tool makers to follow these safety rules. In addition to mandated requirements, manufacturers must also address major retailer and customer concerns about quality and environmental sustainability.

Husqvarna AB, Makita Corp, Honda Motors Co. Ltd, Briggs & Stratton Corp., Andreas Stihl AG & Company KG, MTD Holdings Inc., Stanley Black and Decker Inc., Andreas Stihl AG & Company KG, CHERVON (China) Trading Co., Ltd, Techtronic Industries Ltd., Yamabiko Corporation, Robert Bosch, AL-KO Kober Group, Ariens Company, The Toro Company, Deere & Company are some of the prominent market players operating in the global outdoor power equipment market.

North America is anticipated to experience significant growth in the outdoor power equipment market over the forecast period. The expansion of the regional market can be attributed to North America's larger geographical size in comparison to its population, which leads to more gardens and lawns in the region which raised the demand for outdoor power equipment in the region. Furthermore, increased government infrastructure investment is anticipated to propel the market expansion. Moreover, as a result of the presence of major competitors, the North American region is anticipated to hold a significant share of the OPE equipment market. Furthermore, rapid automation in Europe is anticipated to enhance the OPE industry. Moreover, the region is blessed with a large number of national parks and botanical gardens, which is encouraging robotic lawnmower use. This factor is anticipated to increase demand for power equipment.

Furthermore, European governments' efforts to reduce carbon dioxide emissions are expected to boost industry growth. Additionally, growing urbanization and a rapidly increasing construction sector are the primary drivers of the OPE market growth in Asia-Pacific. Strategic investments by multinational firms in Asia provide lucrative market opportunities in the region. Furthermore, the green infrastructure movement is gaining pace among organizations and consumers, who are expected to support electric equipment in the market to mitigate the effects of rising urbanisation and associated deforestation.

The report provides a detailed overview of the outdoor power equipment market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for the outdoor power equipment market has been offered for all regional market shares, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the outdoor power equipment market. These Y-o-Y projections on regional and country-level markets brighten the political, economic, and business environment outlook, which are anticipated to have a substantial impact on the growth of the outdoor power equipment market. Some key countries and region included in the outdoor power equipment market report are as follows:

• Outdoor power equipment market detailed segments and segment-wise market breakdown
• Outdoor power equipment market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in outdoor power equipment industry)
• Current, historical, and forthcoming 10 years market valuation in terms of outdoor power equipment market size (US$ Mn), volume (Units), share (%), Y-o-Y growth rate, CAGR (%) analysis
• Outdoor power equipment market demand analysis
• Outdoor power equipment market pricing analysis over the forecast period (by key segment and by region)
• Outdoor power equipment market regional insights with region-wise market breakdown
• Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
• Latest developments and innovations in the outdoor power equipment market
• Regulatory landscape by key regions and key countries
• Supply chain and value chain analysis in outdoor power equipment market
• Outdoor power equipment market sales and distribution strategies
• A comprehensive overview of parent market
• A detailed viewpoint on outdoor power equipment market forecast by countries
• Mergers and acquisitions in the outdoor power equipment market
• Essential information to enhance market position
• Robust research methodology