The global outdoor power equipment market was valued at USD 46.53 billion in 2021 and is projected to grow significantly, reaching USD 76.61 billion by 2030, expanding at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2030. This growth can largely be attributed to the increasing demand for cordless outdoor power equipment, as more consumers are seeking flexibility, convenience, and portability in their tools. Cordless tools eliminate the need for constant recharging through outlets, making them ideal for outdoor activities, particularly in larger spaces like gardens and lawns.

Furthermore, the growing popularity of home improvement projects and a surge in gardening activities bode well for the market during the forecast period. The global trend toward enhancing homes, especially during the pandemic, has led to increased spending on outdoor tools, boosting the demand for both outdoor power equipment and garden tools. Companies like The Toro Company, Husqvarna, ANDREAS STIHL AG & Co. KG, and others experienced significant profits from this trend as people spent more time at home, contributing to extended gardening seasons.

The outbreak of COVID-19 in 2020 initially had a negative impact on many industries worldwide, including the outdoor power equipment market. The early months of the pandemic saw disruptions in production, supply chains, and consumer purchasing behavior. However, as restrictions eased and industries resumed operations, demand for various outdoor power equipment surged, particularly as people turned to gardening and outdoor projects to occupy their time at home. Additionally, a notable increase in the market for Do-it-yourself (DIY) equipment and Do-it-for-me (DIFM) services in both commercial and residential segments is expected to further fuel market growth in the coming years.

Gather more insights about the market drivers, restrains and growth of the Outdoor Power Equipment Market

Regional Insights:

North America Outdoor Power Equipment Market Trends

North America held a significant portion of the global outdoor power equipment market, accounting for 34.91% of the total share in 2021. The region’s growth can be attributed to its large geographical area, which supports more extensive outdoor spaces like gardens and lawns compared to more densely populated regions. This larger area naturally leads to an increased demand for outdoor power equipment, as homeowners and businesses need tools for lawn care, gardening, and landscaping. Additionally, government investment in infrastructure is expected to contribute to the market's growth. For instance, in 2022, the Canadian government allocated USD 1.5 billion to the Canada Mortgage and Housing Corporation to expand its rapid housing initiative, which focuses on building more homes. As new communities are developed, the demand for landscaping tools and outdoor power equipment is expected to grow.

Asia Pacific Outdoor Power Equipment Market Trends

The Asia Pacific market is expected to witness the highest growth rate during the forecast period, with an anticipated CAGR of 6.5%. This rapid growth is driven by several factors, including rising disposable income and changing lifestyles in emerging economies like India and China. As consumers' purchasing power increases, they are more likely to invest in outdoor power equipment for both personal and professional use. Moreover, the region hosts numerous annual sports events, including the Indian Premier League (IPL), World Baseball Classic, Asian Games, and other major sporting events. These events often require upgrades to sports stadiums and fields, thus increasing the demand for outdoor power equipment to maintain and enhance these venues.

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Key Companies & Market Share Insights:

The outdoor power equipment market is highly fragmented and competitive, with numerous global and regional players operating within the space. Companies like Makita Corp, Techtronic Industries Ltd, Robert Bosch, and Ariens Company are key players in this market, and they adopt various strategies such as acquisitions, innovative product launches, and significant investments in research and development to maintain their competitive edge.

For instance, in January 2020, The Toro Company announced its acquisition of Venture Products, Inc., a company specializing in articulating turf, snow, and ice management equipment. This acquisition was part of Toro’s strategy to expand its presence in the professional market and strengthen its portfolio of outdoor power equipment offerings for commercial use.

Many companies also focus on providing cost-effective and ergonomic products, which improve ease of use, enhance productivity, and provide greater comfort for users, making them popular among homeowners and professionals alike. For example, in January 2022, Robert Bosch GmbH launched the Keo cordless garden saw, part of the 18V Power for All System. This system is a collaboration with Husqvarna Group, and the product features a powerful interchangeable battery pack and replaceable saw blades, designed for DIY applications. The launch of such user-friendly and versatile products is indicative of the growing demand for more practical and adaptable tools in the outdoor power equipment market.

Key Outdoor Power Equipment Companies:

  • 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

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