Global Outdoor Power Equipment Market Outlook, Prospect and Future 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 WiseGuyReports.

 

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.

 

ALSO READ: http://www.digitaljournal.com/pr/4176867

 

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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