In recent years, there has been a noticeable shift towards environmentally friendly and energy-efficient outdoor power equipment in the global market. This shift is evident in both the consumer and the construction markets. Battery-powered tools have gained popularity because of their lower emissions, reduced noise levels, and convenience.
Listed below are several trends developing in the outdoor power equipment global market.
- An increase in reliance on robots because of the development of AI technology.
- The global market for smartphones has grown significantly which has led to the creation of robotic lawnmowers for both personal and business purposes that can be operated using smartphones.
- Several companies are developing robotic mowers driven by the rising demand for technologically advanced mowers. The latest automated lawn mowers are equipped with GPS tracking and remote controls, making it easier for the user to operate, monitor, and track the mower.
- Demand driven by increased gardening grows.
- The garden and lawn industry is adapting to consumer requirements by launching equipment that is lighter in weight and makes work easier.
- The gardening trend has increased rapidly, mainly among younger homeowners. They are more likely to live in smaller yards and will require equipment for tighter spaces.
- Maintaining and enhancing outdoor spaces will fuel the need for efficient and powerful tools.
- Home improvement projects will continue to grow in popularity, and the stay-at-home trend due to the pandemic has extended the gardening season.
- Maintenance costs will increase. These costs include regular inspection of cords and switches, and routine sharpening, oiling, and other repairs. The maintenance cost of outdoor power equipment is relatively high and could slow growth.
- Government regulations will be enacted to address gasoline-powered environmental issues.
- Professional landscaping service providers operating within municipalities, hospitality, office, state entities, and customers with indoor projects are looking to produce zero exhaust emissions and quieter equipment to expand working hours in public spaces.
- California is expected to ban gas-powered chainsaws, lawnmowers, and leaf blowers as early as 2024.
- The lawn mower segment will continue to capture the largest market share of the Outdoor Power Equipment market and is expected to expand, especially with battery powered mowers entering the market.
- The popularity of gardening and landscaping services will increase in the U.S. to provide an aesthetic appeal to commercial and residential lawns, and gardens. Customers are increasingly outsourcing landscaping services to maintain corporate, institutional, and residential areas.
- North America will continue to dominate the global outdoor power equipment market.
The market will continue to grow at a fast pace due to trends such as the growing popularity of home improvement projects, technology advancements and the adoption of wireless networking techniques resulting in the continued development of smart and connected tools. PSR
Mike Aistrup is Senior Analyst at Power Systems Research
