Outdoor Power Equipment Market is Valued at USD 63.3 Billion at a 3.9% CAGR by 2032
The global outdoor power equipment market size reached a valuation of approximately USD 44.8 billion in 2022. Projections indicate that this market is poised for substantial growth, with expectations to surpass USD 63.3 billion by 2032. This growth is forecasted to occur at a consistent Compound Annual Growth Rate (CAGR) of 3.9% from 2022 to 2032.
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The primary driver behind this market expansion can be attributed to the increasing adoption of battery-powered outdoor power equipment for tasks related to lawn maintenance and gardening. Furthermore, the rising demand for landscaping services and the growing interest among homeowners in gardening activities are anticipated to significantly bolster the sales of outdoor power equipment throughout the forecasted period.
