By 2017 the global outdoor appliances and power tools market is forecast to reach 110 million units, with market growth being driven by the recovery in the housing sector, growing consumer preference for feature-loaded power tools, and increasing inclination of homeowners towards DIY outdoor activities.
Product design, technology, and pricing play an important role in the purchase of outdoor appliances and power tools in the commercial and residential sectors. In the commercial sector, as the users operate their equipment for several hours, they seek for more eco-friendly equipment with ergonomic features, which significantly minimise strain. While in the residential sector, demand is tilted towards equipment which offers competition of yard chores swiftly and effortlessly.
Despite being rattled by recessionary pressure during the years 2008-2009, post recession the outdoor appliances and power tools market has showcased noticeable signs of recovery.
The US dominates the global market for outdoor appliances and power tools. Although the economy and weather pose the highest levels of uncertainty in the outdoor appliances and power tools market, innovative technologies, such as zero-radius riding mowers are likely to drive the overall outdoor appliances market in the US.
With the market increasing for outdoor appliances and power tools in the Asia-Pacific and Latin American countries, several global players are shifting their production bases to these regions that offer the benefits of low material and labour costs. The outdoor appliances and power tools market in Asia-Pacific is forecast to increase at a compound annual growth rate of more than 4.75% through to 2017.
Segment-wise, outdoor grills represent the largest segment of the outdoor appliances and power tools market worldwide, while walk behind power mowers are forecast to be the fastest growing segment over the coming years.
For more information on the outdoor appliances and power tools market, see the latest research: Outdoor Appliances and Power Tools Market Report
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