Global Outdoor Power Equipment Market Research Report forecast 2025
Summary - A new market study, titled “Global Outdoor Power
Equipment Market Information: by Product (Cordless Tools, Rope Power Tools),
Power Source (Electric, Battery, Others), Application (Household, Commercial),
and Region – Global Forecast Till 2025” has been featured on Wise Guy Reports.
The preference of robotic
& electric hand tools over the conventionally used ones is a key global
trend witnessed as hand tools, if mismanaged, might lead to accidents. The
global outdoor power equipment market is characterized by high competition and
is dominated by major international players. The key players in the market are
mainly focused on technological innovation and introducing innovative products
such as robotic and battery-powered outdoor equipment to stay competitive.
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The outdoor power equipment market is mainly driven by
various factors such as the increased use of power tools for DIY (do-it-yourself)
and other household activities, growth in construction industry, and
technological advancement. Outdoor power equipment market has various
constraints such as the growing popularity of artificial grass as this type of
grass does not require mowing, watering and fertilizing. It is a less costly
alternative to real turf and it is a beautiful and long-lasting landscaping
solution. Thus, artificial grass is increasingly becoming a great money saver
for garden owners. Additionally, fluctuation in prices of raw materials also
acts as a restraining factor for the market.
The global outdoor power equipment market is expected to
progress at 5.22% CAGR during the forecast period. In 2017, the market was led
by North America, with a 36.1% share, followed by Europe and Asia Pacific with
shares of 28.1% and 18.8%, respectively.
The outdoor power equipment market has been segmented on the
basis of product, power source, application, and region. By power source, the
market has been segmented as electric operated, battery operated, and others.
Electric operated segment accounted for the largest market share of 47.8% in
2017, with a market value of USD 9,428.4 million; projected to witness the
highest CAGR of 5.45% during the forecast period. By product, cordless tools
segment accounted for the largest market share of 59.0% in 2017, and is
projected to grow at the highest CAGR of 5.41% during the forecast period. By
application, household segment accounted for the largest market share of 54.5%
in 2017, with a market value of USD 10,757.3 million and is projected to grow
at the highest CAGR of 5.37% during the forecast period.
FOR MORE DETAILS : https://www.wiseguyreports.com/reports/3740395-global-outdoor-power-equipment-market-information-by-product
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