north america outdoor power equipment Market

The outdoor power equipment market in North America is expected to grow from US$ 5,021.1 Mn in 2019 to US$ 7,400.8 Mn by the year 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, favorable government initiatives, and 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.
On the basis of application, the North America outdoor power equipment market was led by a residential segment in 2018 with a decent share and is expected to continue its dominance during the forecast period by 2027. However, the commercial segmented in the outdoor power equipment market is expected to grow at a high rate. The residential sector is one of the most flourishing sectors across the world. Increasing the 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 at an exponential pace. Individual houses with garden areas are a major factor in the residential sector to drive the growth of the outdoor power equipment market.

Overall, North America's 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 America outdoor power equipment market. It also provides an overview and forecast for the outdoor power equipment based on all the segmentation provided with respect to the North America region. 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 the outdoor power equipment industry. Some of the players present in the North America outdoor power equipment market are ANDREAS STIHL AG & Co. KG., Ariens Company, Deere & Company, Honda Motor Co., Ltd., Husqvarna AB, MTD Products Inc., and Techtronic Industries Co. Ltd., among others.