What is the global outdoor power equipment market size?
The global outdoor power equipment market size in terms of revenue was estimated to be worth $31.0 billion in 2024 and is poised to reach $36.5 billion by 2029, growing at a CAGR of 3.3% during the forecast period.
What is the market outlook for the outdoor power equipment market?
The lawn mowers segment is expected to account for the largest share of the outdoor power equipment market during the forecast period, primarly due to its essential function in lawn maintenance and garden care. With an increasing focus on outdoor activities and gardening, there is a growing demand for outdoor power equipment.
How will Asia Pacific's outdoor power equipment market grow?
Asia Pacific is expected to grow at the higher CAGR in the outdoor power equipment market throughout the forecast period. This surge is fueled by strong economic growth, rapid urbanization trends, and increasing disposable incomes across key markets such as China, India, Japan, and South Korea.
Which region holds the largest share of the outdoor power equipment market?
ASIA PACIFIC region holds the largest share of the outdoor power equipment market. Asia Pacific is expected to grow at the higher CAGR in the outdoor power equipment market throughout the forecast period.
What are the major drivers for outdoor power equipment market?
Rising interest in gardening activities and increasing demand for landscaping services and increasing use of battery-powered outdoor power equipment for lawn maintenance are acting as major drivers for the outdoor power equipment market. By Equipment Type, Lawn Mowers segment is expected to hold the largest market share in 2024.
What is outdoor power equipment?
Outdoor power equipment refers to machinery or tools that are specifically designed for outdoor use and powered by engines or motors. These tools are commonly used for tasks such as lawn care, landscaping, forestry, agriculture, and construction.
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