Global Outdoor Power Equipment Market: Strong DIY trends, and growing interest in trends like organic gardening are expected to drive growth of the global outdoor power equipment market.

Outdoor Power Equipment Market is expected to witness high growth during the forecast period. The global market is estimated to grow from USD 23.06 billion in 2020 to USD 28.7 billion by 2027, at a CAGR of 3.2 %. Outdoor power equipment is largely used for outdoor activities like gardening, landscaping, and maintenance of property.

The equipment is widely used due to its robust, effective, and reliable nature. Moreover, despite its high-costs, the widespread adoption of gardening as hobby, and its high-benefits in maintaining real-estate prices are expected to drive considerable growth in the near future. Innovation in lawn motors, including more compact and robust application, a wide range of small capacity motors, and renewable sources of energy are some intriguing possibilities on the horizon. The market also faces several challenges as slow economic recovery puts new homeowners are at a disadvantage relative to their earlier situation. However, strong DIY trends, and growing interest in trends like organic gardening are expected to drive growth of the global outdoor power equipment market. The global outdoor power equipment market is expected to ride significant growth, thanks to various advancements in technologies on the horizon. Currently, robotic outdoor power equipment, and electric lawn-mowers are creating a buzz in the market. While robotic mowers are still in inception stage, the electric mowers promise considerable savings in electricity costs, and provide the much needed torque required for landscaping activities for small areas. The rising demand for high quality real-estate, increasing emphasis on aesthetics by Home Owners Associations, and growing demand for outdoor power equipment are expected to drive significant growth.

Moreover, trends like hydroponics can also represent key untapped opportunities in the market. Currently, many people rue the access to fresh vegetables in urban regions. Moreover, the lack of access is exacerbated by cheap fast-food culture, which is also leading to an endemic epidemic of diseases like diabetes. The growth of organic farming in urban areas with the proper-know-how and new solutions can drive major opportunities for growth in the outdoor power equipment market.

As of 2018, Husqvarna Group (Sweden), Deere & Company (US), Honda Motor Co., Ltd. (Japan), The Toro Company (US), Andreas Stihl AG & Company KG (Germany), MTD Products (US), Ariens Company (US), Yamabiko Corporation (Japan), Stanley Black & Decker Inc. (US), Techtronic Industries (Hong kong), Briggs & Stratton Corporation (US), STIGA S.p.A. (Italy), AL-KO kober Group (Germany), Robert Bosch (Germany), and Emak S.p.A. (Italy) were the major players in the outdoor power equipment market.

The outdoor power equipment market in APAC is expected to grow at the highest CAGR during the forecast period. Growing investments in residential and infrastructure markets are expected to boost the construction industry, which would, in turn, drive the use of outdoor power equipment in APAC. Japan is home to many outdoor power equipment and small gas engine manufacturers such as Honda, Yamabiko, Fuji Heavy Industries, Kawasaki, and Yamaha. China is investing heavily in infrastructural development and urban area planning. This investment in the construction industry is the major growth driver of the market. With growing urbanization in India, there has been a significant demand for outdoor power equipment that can support the construction industry for various urban development projects.