Outdoor Power Equipment Market Overview:
According to the analysis report of research studies, the outdoor power equipment market across the world have been expected to increase at a CAGR of 5.22%, during the forecasting period of 2022 to 2030.
As people change to greener energy sources to reduce carbon emissions and increase environmental safety, the world is moving toward more environmentally friendly technology. The outdoor power equipment market is mature, and its growth is primarily affected by characteristics such as population and age structure, consumer purchasing power, residential and other developments, locality, and entertainment and sports activities throughout the world that enhance consumer sales. Moreover, robotics and fuel cells are expected to play a big part in the industry’s future growth. In recent years, the building industry has exhibited signs of growth. The population of citizens living in a home has a direct influence on outdoor power equipment market sales.
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The growing popularity of landscaping as a form of recreation or profession, the desire to develop gardens in houses, and the desire to improve aesthetics via beautiful and well-maintained lawns and gardens all contribute to the purchase of new outdoor equipment. Furthermore, the ease of using backyard gardens as a suitable choice for holding barbeque parties, camping, and a leisure centre is boosting interest in garden upkeep and improvement. The increase in maintenance costs and the availability of outdoor power equipment for lease are expected to restrict industry growth. On the market, manufacturers with a focus on smart and connected outdoor power equipment offer a variety of possibilities. Due to the compulsory lockdowns and travel limitations on the general public, the COVID-19 pandemic brought about a favourable development in the outdoor power equipment market. Furthermore, e-commerce platforms saw a significant increase in sales as a result of convenient availability and a greater selection of items. Professional use of outdoor equipment has also increased as a result of greater business investment. Overall, the market is projected to be untouched by the financial consequences of the epidemic on diverse business practices throughout the world.
The outdoor power equipment market has been segmented into four different categories product, by power source, by applications & regional basis. In the product sectors, the global outdoor equipment market has been divided into two main forms cordless and rope power tools. According to the power source, the market is further divided into three sections battery, electric and others. The major market application section is further divided into household and commercial forms. In the regional analysis, the market is divided into five sections North America, Europe, Asia- Pacific, South America & Middle East and Africa.
Over the projection period, North America is expected to account for the biggest share. Both the home and business sectors make extensive use of the items. The growing consumer knowledge of the ease of availability and performance of these outdoor power equipment market products is expected to drive market expansion. Furthermore, market development is likely to be boosted by increased grass cutting capabilities and navigation facilities without a boundary wire, which is required in houses with big yards in the United States.
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The outdoor power equipment market research also provides a thorough overview of the market shares of these major competitors, as well as market size estimations for these regions. In addition, qualitative and quantitative market data, as well as market segmentation, are included in the research. This study provides an in-depth evaluation of the impact of major market drivers, trends, and opportunities that are presently driving the market growth.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Definition 22
2.2 Scope Of The Study 22
2.3 Market Structure 23
2.4 List Of Assumptions 23
3 Research Methodology
3.1 Research Process 25
3.2 Primary Research 25
3.3 Secondary Research 26
3.4 Market Size Estimation 27
3.5 Forecast Model 28
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