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Outdoor Power Equipment Global Market Report 2022
Major players in the outdoor power equipment market are Briggs & Stratton, Deere & Company, Honda, Husqvarna, Makita, Yamabiko Corporation, STIHL Group, Techtronic Industries, The Toro Company, Andreas Stihl AG & Co.
New York, July 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Outdoor Power Equipment Global Market Report 2022" - https://www.reportlinker.com/p06290042/?utm_source=GNW
KG, Ariens Company, Makita, Oregon, Snow Joe, Craftsman, Worx, AL-Ko Kober Group, Excel Industries Inc, Chevron Trading Co Ltd, and Stiga S.p.A.
The global outdoor power equipment market is expected to grow from $25.86 billion in 2021 to $27.54 billion in 2022 at a compound annual growth rate (CAGR) of 6.5%. The outdoor power equipment market is expected to grow to $31.98 billion in 2026 at a CAGR of 3.8%.
The outdoor power equipment market consists of sales of the outdoor power equipment by entities (organizations, sole traders, and partnerships) that are principally used outside for cutting lawns, gardens, golf courses, landscaping, or ground maintenance.Outdoor power equipment refers to machinery that is powered by an engine or electric motor and is used for non-agricultural landscaping or land cultivation.
These include devices, such as a saw, shovel, or drill which are used to perform or facilitate manual or mechanical work.
The main types of outdoor power equipment are trimmers and edgers, lawnmowers, blowers, tillers and cultivators, snow throwers, and others.The trimmers and edgers outdoor power equipment is used for making the yard and lawn tidier.
Edgers are used to give an edge to the yard, mainly a finishing edge. The various power sources include fuel-powered, electric-powered, and are used in several applications such as residential, and commercial.
North America was the largest region in the outdoor power equipment market in 2021. The regions covered in the outdoor power equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The outdoor power equipment market research report is one of a series of new reports that provides outdoor power equipment market statistics, including outdoor power equipment industry global market size, regional shares, competitors with a outdoor power equipment market share, detailed outdoor power equipment market segments, market trends and opportunities, and any further data you may need to thrive in the outdoor power equipment industry. This outdoor power equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The growth in the construction industry is expected to propel the growth of the outdoor power equipment market going forward.Construction is the process of building, altering, repairing, remodeling, improving, or demolishing any structures.
Outdoor power equipment is used in construction to clear the soil and chop the plants before work begins, as well as for grounds maintenance.For instance, according to the FMI Corporation, a US-based management consulting company, in comparison to 2021, engineering and construction investment will increase by 5% in 2022.
Therefore growth in the construction industry is driving the growth of the outdoor power equipment market.
Technological advancements have emerged as the key trend gaining popularity in the outdoor power equipment market.Major companies operating in the outdoor power equipment sector are focused on developing new technological solutions to sustain their position in the market.
For instance, In February 2022, Stihl, a Germany-based company that manufactures chainsaws and outdoor power equipment launched a new chain saw called Stihl MSA 300 based on Power Laminate technology. It possessed the most powerful battery-powered chainsaw, as well as an LED display that allowed the user to monitor the saw’s status.
In August 2021, Stanley Black & Decker, a US-based manufacturer of industrial tools and household hardware acquired MTD Holdings Inc for the deal amount of $1.6 billion amount. This acquisition positions Stanley Black & Decker as a global leader in outdoor products with strong brands including DEWALT, CRAFTSMAN, and BLACK+DECKER, and they complement the company’s position as the fastest-growing provider of cordless electric outdoor power equipment. MTD holding is a US-based company that manufactures outdoor power equipment.
The countries covered in the outdoor power equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06290042/?utm_source=GNW
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