Outdoor Power Equipment Market -Overview
The revival of the construction industry is predicted to boost the development of the outdoor power equipment market size 2020. The industrial automation & equipment industry reports are created by Market Research Future, which centers on market choices for expansion. A 5.22% CAGR is predicted to alter the development of the market in the future.
The increasing use of DIY equipment is predicted to motivate the outdoor power equipment manufacturers to diversify the product range. The technological advancements are estimated to transform the outdoor power equipment market in the upcoming period. Also, the altering purchasing patterns of customers are likely to spur the outdoor power equipment market in the forecast period.
Segmental Analysis
The segmental evaluation of the outdoor power equipment market is conducted on the basis of product, power source and region. On the basis of the products , the outdoor power equipment market is segmented into cordless and rope power tools. By the power sources, the outdoor power equipment market is segmented into battery, electric, and others. The application-basis of segmenting the outdoor power equipment market comprises household and commercial. Based on the regions, the outdoor power equipment market is segmented into Europe, North America, Asia Pacific, and other regions.
Detailed Regional Analysis
The analysis of the regions in the global outdoor power equipment market includes regions such as Europe, North America, Asia Pacific, and other regions. The North American region has the major share in the outdoor power equipment market, and its market assessment is estimated to go up to USD 10,801.5 million by the year 2025. The European region has the second place in countries such as Germany are governing the regional prospects. The region is anticipated to gain a 20.32% of the market, and its projected outdoor power equipment market valuation would be USD 1,660.4 million throughout the forecast period. The regional market in the APAC is can also projected to recruit a substantial development with a CAGR of 5.36% throughout the forecast period with China backing the market significantly.
Competitive Analysis
The improved backing by government and trade bodies are creating a favorable pace of growth in the market. The control of overhead costs is projected to motivate the market considerably in the forecast period. The market is observed to be on a hot streak of expansion in the forecast period. The market players are expected to contribute in a significant way to the progress of the market by investing capital and fortifying their assets along with their competencies, in the market to match the pulse of the market. The robust marketing activities undertaken by the contenders in the market are inspiring the next steps for market development in the forecast period. The customer inclinations are projected to define the growth of the global market more than ever in the coming years. The intensive attention focused on research and development activities is projected to open up new areas for the development of the market in the forecast period.
The significant contenders in the outdoor power equipment market are Emak S.p.A. (Italy), Honda Motor Co., Ltd. (Japan), Husqvarna (Sweden), TIHL Holding AG & Co. KG (Germany), The Toro Company (U.S.), Deere & Company (U.S.), Stanley Black & Decker Inc. (U.S.), Blount International, Inc. (U.S.), Makita Corporation (Japan), MTD Products (U.S.), and Techtronic Industries Co. Ltd. (TTI) (Hong Kong).
Industry Updates:
Mar 2020 Left Hand Robotics, a producer of self-driving smart robots for marketable turf and snow, has propelled BOLT, a technology platform that alters outdoor machinery and power equipment into more efficient, smarter, and ready-to-work robots. The BOLT platform allows equipment producers to mechanize outdoor jobs, complementing autonomous navigation, connected sensors, and real-time operations to machines.
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