Market Research Future added New Report Named "Global Outdoor Power Equipment Market Research Report- Forecast 2025" to its Database.
Global Outdoor Power Equipment Market to Post 5.22% CAGR Between 2018 and 2025
The data resealed by Market Research Future (MRFR’s) reveals that the global market for outdoor power equipment is set to capture a compound annual growth rate of 5.22% during the forecast period (2018 to 2025). Advances in technology is viewed as a major driver of the market. Towards the end of 2025, the market is likely to record a substantial valuation, which will be supported mainly by a booming real estate sector and rapidly expanding construction sector.
Rising popularity of robotic hand tools and battery-powered tools is opening new windows of opportunities for market players. Further, emergence of new distribution networks online stores and teleshops coupled with evolving buying patterns of customers is prompting market players to reinvent sales strategies. Nonetheless, factors such as price fluctuation and growing preference for artificial grass are likely to threaten the market during the assessment period.
Global Outdoor Power Equipment Market: Segmental Analysis
The data also includes a thorough segmental analysis of the market on the basis of product, power-source and application. Based on product, the market has been segmented into rope power tools and cordless tools. The cordless tools segment holds the leading position and is likely to remain highly attractive in the years to come. Currently, the segment accounts for more than 58% share of the market. In addition, the segment is projected to increase at a CAGR of 5.41% during the assessment period. Meanwhile, the rope power tools segment is likely to exhibit 4.94% CAGR over 2025. By power-source, the market has been segmented into battery, electric and others. Among these, the electric segment holds the predominant position. By the end of forecast period, the segment is expected to surpass a valuation of USD 14,000 Mn, reflecting a CAGR of 5.45%. Based on application, the market has been segmented into commercial and household. The later will continue to out perform the former throughout the assessment period. Currently, the household segment accounts for over 54% share of the market and is expected to exhibit an impressive growth rate over the next couple of years.
Global Outdoor Power Equipment Market: Regional Analysis
The market has been covered across regions such as Europe, North America, Asia Pacific (APAC) and Rest-of-the-World (RoW). The market in North America is expected to remain highly attractive in 2019 and beyond. The region’s market is expected to reach a valuation in excess of USD 10,800 Mn by the year 2025. In North America, the US is expected to remain the most significant destination for market players, with a projected market valuation of over USD 8,200 Mn during the forecast period. Led by Germany, Europe has emerged as the second largest market for outdoor power equipment. The region currently accounts for over 20% market share and is likely to stand at a valuation of close to USD 1,660.4 Mn by 2025-end, registering a strong CAGR. The market in APAC is also set to witness a substantial growth in the forthcoming years, which will see China become a leading contributor. Further, the market in China is expected to surge at a CAGR of 4.92% during the review period and stand at a valuation of USD 1,474.3 Mn.
Global Outdoor Power Equipment Market: Competitive Landscape
Some the leading market players include Honda Motor Co., Ltd. (Japan), MTD Products (U.S.), STIHL Holding AG & Co. KG (Germany), Husqvarna (Sweden), Emak S.p.A. (Italy), Blount International, Inc. (U.S.), Techtronic Industries Co. Ltd. (TTI) (Hong Kong), The Toro Company (U.S.), Deere & Company (U.S.), Makita Corporation (Japan) and Stanley Black & Decker Inc. (U.S.).
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