Outdoor Appliances and Power Tools: A Global Strategic Business Report
San Jose, California (PRWEB) May 04, 2012
Follow us on LinkedIn – Outdoor appliances industry encompasses a wide range of products, including lawn mowers, tractors, powered edge trimmers, portable trimmers, hedge clippers, rotary tillers, shredders, leaf blowers, and snow blowers. The market for outdoor products is seasonal and highly fluctuating. Product design, technology, and pricing play important role in the purchase of outdoor appliances and power tools in 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 minimize strain. While in the residential sector, demand is skewed 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 market has showcased marked signs of recovery. Driven by the new market opportunities presented by the economic recovery and housing market, growing consumer preference for feature-loaded power tools, and increasing inclination of homeowners towards DIY outdoor activities, the market outlook for outdoor appliances and power tools remains bright. Global demand is expected to be primarily driven by Asian regions, such as India and China, owing to the rapid development in the region’s construction (both residential and non-residential) sector, and increasing income levels, while the saturated markets of Western Europe and Japan would exhibit comparatively milder growth activity.
The US dominates the global market for Outdoor Appliances and Power Tools, as stated by the new market research report on 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. Moreover, gardening is also gaining ground among the US population, with the baby-boomer generation reaching an age where they spend more time at home, and indulge in hobbies, such as gardening, fueling growth in the outdoor appliances and power tools market. However, with the increasing market for this equipment 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 labor costs. The market for outdoor appliances and power tools in Asia-Pacific is forecast to increase at a compounded annual growth rate of more than 4.75% during the analysis period.
Segment-wise, outdoor grills represents the largest segment of the outdoor appliances and power tools market worldwide. Walk behind Power Mowers is forecast to witness the fastest growth in the coming years. Changing customer demographics, growing environmental concerns, and increasing demand for sophisticated products has opened the doors for a new generation of lawn mowers. These systems are known for their user- and environmental-friendliness, and at the same time offer better performance. Though price still plays a major role in determining the success of a product in lawn mowers market worldwide, products with differentiating features and added comfortableness are defying price pressures, and are gaining prominence among consumers. Increase in horsepower, coupled with the reduced weight, represent the two major developments in the new generation lawn mowers.
In the upcoming years, increasing disposable income in developing world is expected to act as a major catalyst for the global outdoor appliances and power tools market. While ever changing lifestyles of consumers and elevation of garden maintenance to social status quo symbol drive the market for outdoor appliances in developing countries, environmental concerns and the use of gardening as a relaxation from daily routine drive the market in the developed countries. Willingness of consumers to pay higher amount for sophisticated equipment is growing in parallel to the prominence for gardening. As a result, majority of leading manufacturers are focusing their efforts on the research and development activities to introduce products that are more user-friendly. Manufacturers are also offering appliances that offer multi-tasking features. Garden and lawn equipment manufacturers are also widening their product offerings, with the inclusion of electric equipment that are more eco-friendly and less noisy.
Major players profiled in the report include Alamo Group Inc., Blount International, Inc, Bosch Lawn and Garden Ltd., Briggs & Stratton Corp., Deere & Company, Husqvarna AB, McCulloch Motors Inc., Jarden Corporation, Coleman Company Inc., Makita Corp., MTD Products Inc., Stanley Black & Decker, Techtronic Industries Co. Ltd. ,The Toro Company, among others.
The research report titled "Outdoor Appliances and Power Tools: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of the outdoor appliances and power tools markets, impact of economic recession on the market, current market trends, major growth drivers, recent industry activity, and profiles of major/niche global as well as regional market players. The report provides annual sales estimates and projections for Outdoor Appliances and Power Tools market for the years 2009 through 2017 for the following geographic markets – US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Key product segments analyzed include Bug Killers, Chain Saws, Hedge Trimmers, Leaf Blowers (Back Pack Leaf Blowers, and Handheld Leaf Blowers), Outdoor Grills, (Charcoal-Fired Outdoor Grills, Electric-Fired Outdoor Grills, And Gas-Fired Outdoor Grills), Walk Behind Power Mowers, Riding Garden Tractors, Riding Mowers & Lawn Tractors (Front Engine, and Rear Engine), Rotary Tillers, Snow Throwers and Trimmers/Brush Cutters. Also, a six-year (2003-2008) historic analysis is provided for additional perspective.
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About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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