Global Outdoor Electrical Equipment Market Expected To Grow
Pune, India, Jan.11, 2022 (GLOBE NEWSWIRE) – The outdoor electrical equipment market was estimated to be worth USD 23,347 million in 2021 and is expected to grow at a CAGR of 3.50% during the forecast period, according to a recent comprehensive market research report by Quince market overview. Outdoor power equipment refers to equipment using small motors or motors.
The increasing demand by homeowners for landscaping services to make their homes aesthetically beautiful and pleasing, as well as by commercial users to improve the appearance of their properties are important factors driving the demand for the electrical equipment market. exterior.
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In the landscaping industry, a wide variety of outdoor electrical equipment such as hedge trimmers, blowers, saws, and lawn mowers are used in a variety of landscaping activities including yard maintenance. organic or natural lawns, landscaping, tree maintenance, lawn renovation, snow removal and lawn. maintenance.
The growing interest of homeowners to spend time in indoor and outdoor gardening activities increases the demand for outdoor electrical equipment. Outdoor electrical equipment is also used for the maintenance and design of golf courses. Over the next few years, with the increase in the number of new golf courses / clubs and the number of players, the outdoor power equipment market is expected to increase.
Lawn mowers are some of the important implements. Most parts like fuel filters, engines, and air filters require regular maintenance, which is expensive. Regular maintenance which includes greasing, replacing parts, sharpening and certain other repairs necessary for the proper functioning of the instrument. Therefore, the cost of maintaining outdoor electrical equipment is considerably high.
Impact of the COVID-19 pandemic
The QMI team is closely monitoring the impact of COVID-19 on the outdoor electrical equipment market and it has been observed that the COVID-19 outbreak has forced many companies to halt most operations and shut down their operations. manufacturing plants during the initial period. from 2 to 3 months. During the pandemic, the main goal of businesses was to encourage their businesses by finding safe ways to continue manufacturing operations or find other sustainable ways to generate income.
After the pandemic, the commercial and residential application segments made a strong comeback and began to recover at a higher rate. Due to this growing demand, the outdoor electrical equipment market can be seen growing slowly and steadily.
By type of equipment
On the basis of Equipment Type, the Outdoor Electrical Equipment market is divided into Lawn Mowers, Riding Lawn Mowers, Riding Lawn Mowers, Chainsaws, String Trimmers & String Trimmers, Snow Blowers, Snow Blowers , tillers and cultivators and others. The lawn mower segment is estimated to be the fastest growing segment due to the increasing demand for lawn mowers which can be attributed to the growing affinity of residential users for garden and lawn maintenance activities. as well as the growing demand for landscaping services.
Based on the application, the outdoor electrical equipment market is divided into residential / DIY and commercial. Among these, the residential / DIY applications segment is estimated to represent the fastest growing segment of the outdoor electrical equipment market. Residential end users can be DIY enthusiasts and homeowners. There has already been a thriving and established culture of garden and lawn care in Europe and North America, which continues to grow in other regions as well.
By power source
On the basis of the power source, the outdoor electrical equipment market is divided into fuel and electricity. The fuel-powered segment is estimated to be the fastest growing segment in the outdoor electrical equipment market. The fuel-powered equipment can run on diesel or gasoline, gas and provide better torque and horsepower, due to which it is increasingly adopted by professional loggers and arborists for deforestation activities and deforestation.
On the basis of functionality, the outdoor electrical equipment market is divided into two categories: connected / smart and conventional. The connected / smart segment is estimated to be the fastest for the outdoor electrical equipment market. With the growing adoption of IoT devices and the growing popularity of smart and connected products, manufacturers are focusing on offering connected devices.
In addition, technological advancements and the adoption of wireless connectivity practices have led to the innovation of smart and connected tools. Leading and emerging outdoor electrical equipment manufacturers are focusing more on producing smart and connected outdoor electrical equipment.
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On the basis of region, the outdoor electrical equipment market is divided into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America is expected to hold the fastest growing segment during the forecast period. Increased investment in infrastructure and housing markets is expected to lead to an increase in the construction sector in the APAC region.
Major developments in the outdoor electrical equipment market
- September 2021, STIHL (Germany) introduced the MSA 300 cordless chainsaw which offers higher energy content but with lower weight. It comes with the STIHL AP 500 S battery pack and is designed for professional use such as landscaping, horticulture and forestry.
- In July 2021, Honda India Power Products (Japan), formerly Honda Siel Power Products Ltd., presented the new FQ650 compact tiller. The product features an overhead valve and a 4-stroke engine to provide improved fuel efficiency and better performance. The machine is light and durable and is launched with the aim of increasing agricultural mechanization at an affordable price.
Profiles of the major market players operating in the global outdoor electrical equipment market including Husqvarna (Sweden), Deere & Company (US), Honda Motor Co., Ltd. (Japan), Blount International, Inc. (United States), The Toro Company (United States), STIHL Holding AG & Co. KG (Germany), Stanley Black & Decker Inc. (United States), Makita Corporation ( Japan), MTD Products (United States), Emak SpA (Italy) and Techtronic Industries Co. Ltd (TTI) (Hong-Kong).
Browse key industry information from the report, “Outdoor electrical equipment market, By type of equipment (lawn mowers, ride-on lawn mowers, non-ride-on movers, chainsaws, edgers and edgers, snowblowers, snowblowers, tillers and cultivators and others), by application (residential / DIY, commercial) by power source (fuel, electric), by functionality (connected / smart, conventional) and by region (North America, Europe, Asia-Pacific, Middle East and Africa and South America) ” an in-depth analysis with the table of contents (ToC).
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