About Outdoor power supply industry scale
The global outdoor power supply market size was valued at approximately USD 1.8 billion in 2023 and is projected to grow to around USD 4.5 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.6% during the forecast period.
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6 FAQs about [Outdoor power supply industry scale]
What is the global outdoor power equipment market size?
The global outdoor power equipment market size was USD 46.53 billion in 2021 and is expected to reach USD 76.61 billion by 2030, expanding at a CAGR of 5.9% from 2022 to 2030. The market growth can be credited to increasing demand for cordless outdoor power equipment as people are inclining more toward greater flexibility and portability.
What is the market share of outdoor power equipment in 2021?
The North American market accounted for 34.91% share of the overall market in 2021. The regional market’s growth is attributed to North America’s larger geographical area compared to its population, which leads to more gardens and lawns in the region. This led to increased demand for outdoor power equipment in the region.
What are the factors influencing the growth of outdoor power equipment market?
The increasing urbanization, disposable income, and infrastructure activities coupled with rising demand for the landscaping services are the factors expected to augment growth of the outdoor power equipment market.
What are the key players in the global outdoor power equipment market?
Some of the prominent players in the global outdoor power equipment market include: Free report customization (equivalent to up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. Avail customized purchase options to meet your exact research needs.
Why is the cordless outdoor power equipment market growing?
The market growth can be credited to increasing demand for cordless outdoor power equipment as people are inclining more toward greater flexibility and portability. To learn more about this report, request a free sample copy
Why is the maintenance cost of outdoor power equipment so high?
The factors to be reviewed regularly include inspecting cords, checking for damaged switches, sharpening, oiling, and other repairs needed for properly working of the equipment. Hence, the maintenance cost of outdoor power equipment is relatively high, which is expected to hamper the market’s growth.