Outdoor Power Equipment Market | Industry Trends Analysis, Statistics, Growth, Size, Share, Opportunities & Global Forecast, 2020-2027
By: X herald
January 11, 2021 at 05:00 AM EST
Outdoor Power Equipment Market:
The GMI Research forecasts that the outdoor power equipment market is witnessing an upsurge in demand during the forecast period. This is mainly due to rising consumer spending on durable goods, rapid urbanization, and increasing emphasis of homeowners towards beautifying their gardens.
Top Manufacturers in the Outdoor Power Equipment Market:
The rising consumer spending on durable goods, rapid urbanization, and increasing emphasis of homeowners towards beautifying their gardens are the major factors fuelling the growth of the global outdoor power equipment market size. Moreover, growing concerns regarding environmental pollution is drastically shifting consumers’ preference towards energy sources to decrease carbon emissions, which is one of the emerging outdoor power equipment industry trends that is boosting the growth of the outdoor power equipment market share in terms of revenue.
According to the outdoor power equipment market statistics, rapid technological advancements and R&D activities in the outdoor power equipment to improve the design, reliability & performance, and comfort level, is promoting the consumers to shift towards these types of advanced equipment. With the outbreak of the COVID-19 pandemic, individuals are searching for advanced gardening tools and equipment owing to the rising focus to stay home and maintain social distance. On the other edge of the spectrum, the factor restraining the market growth is the increasing cost of maintenance of these kinds of equipment.Equipment type Segment Drivers
Based on the equipment type, the Saws segment is projected to grow at a higher CAGR during the forecast period due to the growing adoption of saws as it is increasingly used for bucking, cutting, and cutting trees. Furthermore, the various benefits regarding the use of electric-powered saws such as safety, no fuel emissions, improved power & performance, affordability, and easy to use a feature, which will bolster the market growth.Regional Drivers
Based on the region, the Asia-Pacific region is anticipated to dominate the market during the forecast period. This is attributed to the growing adoption of outdoor power equipment driven by the rising number of development projects in the infrastructure and residential markets. Additionally, rapid urbanization and increasing concerns to decrease pollution has led to an upsurge in the construction of sustainable buildings, which will further propel the growth of the market in this region.Outdoor Power Equipment Market Segmentation:Segmentation by Equipment Type:
About GMI Research
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