DUBLIN–(BUSINESS WIRE)–The “Global Outdoor Power Equipment Market Research Report by Equipment Type, by Service Type by Power Source, by Region – Global Forecast to 2027 – Cumulative Impact of COVID-19” report has been added to ResearchAndMarkets.com’s offering.
The global Outdoor Power Equipment market was valued at USD 26,695.55 million in 2021 which expected to reach USD 34,110.45 million by 2027 at a CAGR 3.0 % from 2021-2027.
Outdoor power equipment is powered by compact engines or small motors. If the equipment is used solely for outdoor services, it is known as outdoor power equipment. Brush cutters, edgers, chain saws, power rakes, and other outdoor power equipment are common. Outdoor power equipment is widely used in both the residential and commercial sectors. End-users such as lawn and plant care providers and landscape service providers frequently use outdoor power equipment for commercial purposes.
Market Drivers
Increasing demand for landscaping services & growing interest of homeowners in gardening activities.
The Global Outdoor Power Equipment Market is significantly driven by the increase in demand by homeowners for landscaping services to make their homes aesthetically pleasing, as well as by commercial users to boost the appeal of their properties.
In the landscaping industry, a wide range of outdoor power equipment, like lawn mowers, blowers, hedge trimmers, and saws, are used in diverse landscaping activities which include lawn maintenance, hardscaping, tree care, lawn renovation, organic or natural lawn care, and snow removal.
Market Restraint
Outdoor power equipment, like lawn mowers & trimmers, are precision instruments. Lots of parts like motors, fuel filters, air filters of these outdoor power equipment require regular maintenance. For precise operations, outdoor power equipment is required to be recalibrated after regular intervals.
Regular maintenance includes sharpening, oiling, and replacing parts, and other repairs required for the proper working of tools. Thus, the cost of maintenance of this equipment is relatively high.
Impact of COVID-19
The worldwide outbreak of COVID-19 had forced many businesses to shut down their manufacturing plants & halt most of the operations during the initial period of 2 to 3 months.
During this crisis, the main objective of the companies was to sustain their businesses by finding safer ways to continue manufacturing operations or find other sustainable ways to get the revenue stream flowing. However, during this period, the residential & commercial application segments, both experienced a surge in demand owing to the increasing popularity of do-it-yourself projects & landscaping services.
Hence, after a period of 2 to 3 months of decline post the outbreak of the novel COVID-19 virus, both the residential & commercial application segments made a strong comeback and started recovering with a higher pace. As a result of the growing demand, the outdoor power equipment market can be seen growing steadily.
Company Profiles
Market Taxonomy
By Equipment Type
By Service Type
By Power Source
By Functionality
By Region
Key Questions Addressed by the Report
For more information about this report visit https://www.researchandmarkets.com/r/g72i6p
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