North America Outdoor Power Equipment Market to 2027 - Regional Analysis and Forecasts by Type; Power Source; Application

The outdoor power equipment market in North America is expected to grow from US$ 5,021.1 million in 2019 to US$ 7,400.8 million by 2027, at a CAGR of 3.5% during the forecast period.

Sustainable landscaping is a popular trend nowadays owing to the usage of environment-friendly resources and methods. In addition, the growth of global infrastructure, construction, and urban development industry are further fuelling the demand for outdoor power equipment for lawn and landscaping applications. In developing countries such as China and India, the construction industry has a huge potential for growth owing to rising disposable incomes and favorable government initiatives, as well as a high rate of economic development. According to the recent PwC report on “Global Construction 2030,” the construction output volume will reach US$ 15.5 trillion by 2030. The US, China, and India are anticipated to lead the growth with a contribution of ~55% to the overall growth. Hence, increasing focus on sustainable environmental growth and rising construction and infrastructure industry across the world will drive the demand for outdoor power equipment during the forecast period. Therefore, growing construction activities in countries such as the US and Canada are the major factors that are expected to drive the growth of the outdoor power equipment market in North America.

Based on application, the North American outdoor power equipment market was led by the residential segment in 2018 with a decent share and is expected to continue its dominance during the forecast period. However, the commercial segment is expected to grow at a high rate. The residential sector is one of the most flourishing sectors across the world. Increasing population in developed and developing nations demands more residential spaces. The housing and residential sector in India and other developing countries in the world is growing exponentially. Individual houses with garden areas are a major factor in the residential sector to drive the growth of the outdoor power equipment market.

The overall North American outdoor power equipment market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the North American outdoor power equipment market. It also provides an overview and forecast for the outdoor power equipment based on all the segmentations provided with respect to North America. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in outdoor power equipment.

ANDREAS STIHL AG & Co. KG., Ariens Company, Deere & Company, Honda Motor Co., Ltd., Husqvarna AB, MTD Products Inc., and Techtronic Industries Co. Ltd. are among the players present in the North American outdoor power equipment market.

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