The outdoor power equipment market is expected to grow from USD 31.0 billion in 2024 to USD 36.5 billion by 2029, at a CAGR of 3.3% during the forecast period. The rising interest in gardening activities and increasing demand for landscaping services, increasing use of battery-powered outdoor power equipment for lawn maintenance, and rapid growth in construction sector all significantly influence the dynamics of the outdoor power equipment market. In addition, growing inclination toward rental services and increasing popularity of connected outdoor power equipment are all factors that generate opportunities within the outdoor power equipment market.

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DRIVERS: Rising interest in gardening activities and increasing demand for landscaping services

The outdoor power equipment market experiences significant growth driven primarily by increasing demand from both residential and commercial customers seeking landscaping services to enhance property aesthetics. Within the landscaping sector, a diverse range of outdoor power tools such as lawn mowers, hedge trimmers, blowers, and saws are employed for tasks including lawn maintenance, hardscaping, tree care, and snow removal. According to the 2023 National Gardening Survey in the US, approximately 80% of households engaged in lawn and garden activities in 2022, with an average expenditure of USD 616 per household. This reflects a growing trend among homeowners in developed nations to allocate more resources to outdoor and gardening activities, thus driving demand for outdoor power equipment.

Outdoor power equipment also plays a pivotal role across various professional sectors including landscaping services, ground maintenance, sports field upkeep, commercial nurseries and greenhouses, as well as forestry and logging operations. The 2023 report from the National Golf Foundation indicates significant growth in the US golf industry, with 15,945 golf courses, five times more than any other country. This growth underscores an increased demand for outdoor power equipment to maintain these golf courses effectively.

RESTRAINTS: High maintenance costs

Outdoor power equipment, such as lawn mowers and trimmers, is recognized for its precision engineering. These tools comprise various components, including motors, air filters, and fuel filters, which demand regular upkeep. Recalibration of outdoor power equipment is necessary at consistent intervals to ensure optimal functionality. As time passes, components like motors, batteries, and cables gradually degrade and require routine oiling, sharpening, and repairs. The maintenance expenses for outdoor power equipment are relatively steep. Especially in developing regions where labor costs are lower, consumers hesitate to invest significant sums in equipment upkeep. This elevated maintenance cost has thus acted as a barrier to the expansion of the outdoor power equipment market. Furthermore, consumers in developing countries are increasingly favoring the leasing of outdoor power equipment, exacerbating the market's growth challenges.

OPPORTUNITIES: Increasing popularity of connected outdoor power equipment

With the increasing integration of IoT devices and other technological advancements, manufacturers are directing their efforts towards providing smart and interconnected outdoor power equipment. For example, John Deere has introduced JDLink to its customers at no extra cost; this digital platform collects real-time equipment data and sends it to John Deere service centers, while also allowing customers to monitor and manage their equipment using smartphones. Similarly, Husqvarna Group, based in Sweden, offers residential robotics lawn mowers like the Automower 450X and 435X AWD, which feature smartphone connectivity for remote control and monitoring. These connected and intelligent products are gaining popularity among consumers and present a lucrative opportunity for the growth of the outdoor power equipment market.

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CHALLENGES: Stringent trade policies and safety regulations

Safety and regulatory compliance are top priorities for manufacturers in the global outdoor power equipment industry. Domestic and international distribution channels, as well as end-users, demand reliability and strict adherence to both current and evolving safety standards. In addition to meeting mandatory regulations, it's crucial for manufacturers to address significant concerns raised by retailers and consumers regarding product quality and environmental sustainability. Furthermore, depending on the type of equipment, manufacturers must also navigate additional regulations covering aspects such as physical safety requirements, electromagnetic interference, operational noise levels, and product recycling. These regulatory demands not only increase the overall cost of owning outdoor power equipment but also pose significant challenges for manufacturers, particularly concerning product testing mandates.

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