Outdoor Electrical Equipment Market Worth $35.8 Billion by 2026 – Exclusive Report by MarketsandMarkets™
Chicago, July 11 2022 (GLOBE NEWSWIRE) — According to the report “Outdoor Power Equipment Market by Equipment Type (Lawn Mower, Chainsaw, String Trimmer and Edger), Applications (Commercial, Residential/DIY), Feature (Connected/Smart, Conventional), Power Source ( fuel, electric) and region – Global forecast for 2026 », published by MarketsandMarkets™, the market size is estimated at USD 26.4 billion in 2021 and is expected to reach USD 35.8 billion by 2026, growing at a CAGR of 6.3%. The growing affinity for property beautification and yard maintenance activities is driving the demand for outdoor power equipment worldwide. The growing potential of the construction sector due to the increase in infrastructure projects worldwide, the growing adoption of battery-powered equipment and the growing demand for commercial landscaping services are key factors. driving the growth of the outdoor electrical equipment market.
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Saws are expected to register the highest growth over the forecast period
The saw market is expected to experience the highest growth rate from 2021 to 2026. The growing demand for chainsaws can be attributed to the increasing adoption by professional arborists and loggers in the forestry sector. Chainsaws are primarily used to cut wood for deforestation and infrastructure projects needed to accommodate residential and commercial establishments. Another major end user of chainsaws are carvers who use chainsaws for carving and decorating activities.
The business application will grow at the highest rate during the review period
Commercial end users can be divided into construction industry professionals, forestry industry professionals, professional landscaping service providers, and professional lawn care service providers. The growing potential of the construction sector to undertake several projects with the recent government initiatives supporting the construction sector is a major factor contributing to the growing adoption of outdoor power equipment. In addition, initiatives undertaken by the government and municipalities to adopt green equipment are increasing the demand for portable cordless electrical equipment for the maintenance of public spaces such as parks.
Browse in-depth TOC on “Outdoor Electrical Equipment Market”
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Electrical equipment will see the highest growth during the forecast period
Recent technical developments, due to massive investments in R&D by major players, have considerably improved the power and operating time of electrical equipment. Additionally, power equipment is more preferred for precision work due to its lightweight, compact frame and portability. Additionally, the growing adoption by homeowners and DIY enthusiasts of better ergonomics and comfort is fueling the demand for power equipment. In addition, the government and municipalities in all regions are taking initiatives to encourage consumers to adopt environmentally friendly solutions.
North America Outdoor Electrical Equipment Market Expected to Grow Significantly from 2021 to 2026
In North America, there is a culture of lawn and garden care, which is further growing due to people’s growing affinity for gardening activities and the growing number of private lawns. Additionally, there is a growing demand for DIY techniques in the area, prompting homeowners to undertake several renovation and beautification projects. Additionally, North America’s participation in turf sports such as golf is seeing massive year-over-year growth. The growing demand for landscaping services by residential and commercial establishments is another major factor fueling the demand for outdoor electrical equipment. Additionally, government regulations to reduce environmental impact are also driving the demand for electrical equipment in the region.
The main companies operating in the outdoor power equipment market are Briggs & Stratton (USA), Deere & Company (USA), HONDA (Japan), Husqvarna (Sweden), Makita (Japan), Robert Bosch ( Germany), Stanley Black & Decker (USA), STIHL Group (Germany), Techtronic Industries (TTI) (Hong Kong) and The Toro Company (USA).
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