Outdoor Appliances and Power Tools: A Global Strategic Business Report
San Jose, California (PRWEB) March 08, 2013
Follow us on LinkedIn – A large multitude of people across the globe count on powered outdoor appliances for making their lives smoother. With today’s consumers increasingly reconnecting with the concept of ‘going green’, gardening as an ideal leisure activity has regained focus worldwide. This has in turn generated a wider demand for outdoor power tools that are used in activities such as garden cleaning, snow clearing, whirling up soil to facilitate drainage, aeration and growing plants, lawn mowing, and wood cutting and trimming, among others. Product pricing, design and technology all come into play when consumers zero in on a specific product. With users becoming more acquainted with latest trends in technologies, the scenario is compelling major manufacturers to provide equipment with multi-functioning capabilities. However, the business cycle for outdoor products is also dependent on macroeconomic environment with weather and global economic conditions inducing the greatest uncertainty in the market.
The global economic downturn in recent years and the renewed threat to economy in the form of sovereign debt crisis have ebbed consumer confidence and curtailed spending levels. With consumers focused on enhancing savings rather than spending, the market for outdoor appliances and power tools has suffered reduced sales in recent times. Even though uncertainties continue to plague the world economy, population growth and continuous rise in living standards are likely to offer growth opportunities for the outdoor power equipment market.
While share of gasoline powered outdoor appliances has remained relatively stable in recent years, corded electric products are losing share to cordless products. Demand for battery powered appliances such as lawn mowers and chainsaws is growing continuously. This can be primarily attributed to sensitivity, environment friendly and overall convenience - no gas or cord to muddle with. As a result, a series of cordless electric lawn and garden equipment have been launched in the market. Another major breakthrough is the use of lithium-ion batteries in various appliances. Use of lithium ion technology has enabled manufacturers to introduce lighter and more powerful products at competitive prices.
Segment-wise, demand for walk behind power mowers and riding mowers & lawn tractors is fast catching up across the world, given the increasing awareness of spic-and-span surroundings. Over the years, lawn mower innovations resulted in higher productivity offering superior efficiency and encouraging upgrading of old mower. Some of the new advances in lawn mower technologies include robot, remote control, reach mowers, and GPS-guided mowers. Riding mower designs have also witnessed significant changes in the past decade, with features such as floating decks, quick height adjustments, increased cut-quality and ground speed, open discharges, grass collection options along with improved performance that have sufficiently kindled consumer interests. Another trend is the growing popularity of diesel engines and liquid-cooled diesel and gas engines. Riding mowers in the recent years have become more powerful and efficient, with the inclusion of less weight materials and increased focus on ergonomics.
As with the overall outdoor appliances and power tools market, consumers’ tendency towards better equipment is also seen in the chain saws segment. Equipment with ergonomic features, sleek contours and high battery life are the most sought after products worldwide. With restricted spending power and unemployment compelling people to spend more time at homes, the cooking appliances such as outdoor grills is witnessing increasing demand, propelled by rise in activities such as weekend-gatherings, lawn parties and grilling/barbecue eat-outs.
As stated by the new market research report on Outdoor Appliances and Power Tools, the US represents the largest market worldwide, while Asia-Pacific represents the fastest growing regional market. In developed countries, the higher per capita income levels augur well for the lawn and gardening equipment market, as this opens up greater opportunities for consumers’ discretionary purchases. North America and Europe, which account for a substantial proportion of the world’s garden and park areas, constitute the leading markets for outdoor appliances and power tools. Growth in these regions is dependent on prevailing economic conditions and spending capabilities of consumers.
In Europe, the overall demand for powered gardening tools is affected by economic uncertainty prevailing across the region. Despite the adverse macroeconomic conditions, the DIY market continues to post healthy growth rates, as more and more consumers are looking to spend time at homes and involve themselves in activities such as gardening, as against spending on activities such as travelling. In the US, the growth in momentum in certain segments of the power tools and outdoor appliances market is reflective of turnaround in housing starts, rebound in home remodeling activities, and growing consumer enthusiasm towards Do-it-yourself (DIY) projects.
Global market for outdoor appliances and power tools market is highly competitive. Players involved in the market comprise large, medium and small companies with discrete product lines. Major players profiled in the report include Alamo Group, Inc., The Ariens Company, Blount International Inc., The Bosch Group, Briggs and Stratton Corporation, Deere and Company, Global Garden Products Group, Husqvarna Group, MTD Products, The Toro Company, STIHL Holding, and Techtronic Industries, 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 market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections for outdoor appliances and power tools market in thousand units for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of 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.
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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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