Global Outdoor Power Equipment market segments 2024, Forecast To 2033

The outdoor power equipment market has demonstrated steady growth, increasing from $28.28 billion in 2023 to $28.89 billion in 2024, with a compound annual growth rate (CAGR) of 2.1%. The growth in the historic period is attributed to factors such as urbanization, landscaping and gardening activities, the growth of commercial landscaping services, farming and agriculture practices, and the maintenance of sports fields. The outdoor power equipment market is expected to see steady growth, reaching $33.08 billion in 2028, with a CAGR of 3.4%. The forecasted growth is driven by factors such as diverse work environments, government initiatives, preparedness for extreme weather conditions, increased demand for rental and leasing services, and seasonal demand fluctuations. Major trends in the forecast period include technological advancements, the adoption of sustainable landscaping practices, the rise of battery-powered equipment, the popularity of electric lawnmowers, and the integration of smart and connected equipment.