The outdoor power equipment market in North America is expected to grow from US$ 11,222.6 Mn in 2019 to US$ 14,671.3 Mn by the year 2027 at a CAGR of 3.5% during the forecast period.
The high per capita income of people in the region is driving widespread infrastructural constructions and upgrades in North America. Initiatives taken by the government in infrastructural developments are enabling huge volumes of construction activities undertaken mainly in the urban areas of the countries. The growth in the construction industry is primarily driven by continuous investments by the private sector in residential and commercial building projects. Furthermore, the demand for housing construction in the US witnesses’ growth due to increasing immigration in the country. Also, the Canadian government plans to invest US$ 6 billion in its social infrastructure by 2020 to offer affordable housing to both lower and middle-class populations of the country by spending on new housing buildings construction. Therefore, rising urbanization is expected to drive the growth of the construction sector in North America.
The willingness of individuals to have luxurious lifestyle is one of the factors responsible for stimulating the growth of the residential sector. Individual houses with lawn or garden areas in the US play a significant role in bolstering the use of different outdoor power equipment. Need among the Americans to have a lawn is rising owing to the increase in the construction of individual houses. Therefore, increasing construction and growing popularity of DIY is increasing the demand for outdoor equipment market in North America.
The North America outdoor power equipment market is expected to grow at a good CAGR during the forecast period. Increasing construction activities and technological advancements in the region are expected to support the growth of outdoor power equipment market.
North America Outdoor Power Equipment Market–Segmentation
North America Outdoor Power Equipment Market By Equipment Type
North America Outdoor Power Equipment Market By Power Source
North America Outdoor Power Equipment Market By Application
North America Outdoor Power Equipment Market By Country
North America Outdoor Power Equipment Market-Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 11,222.6 Million |
| Market Size by 2027 | US$ 14,671.3 Million |
| CAGR (2019 - 2027) | 3.5% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Outdoor Power Equipment Market is valued at US$ 11,222.6 Million in 2019, it is projected to reach US$ 14,671.3 Million by 2027.
As per our report North America Outdoor Power Equipment Market, the market size is valued at US$ 11,222.6 Million in 2019, projecting it to reach US$ 14,671.3 Million by 2027. This translates to a CAGR of approximately 3.5% during the forecast period.
The North America Outdoor Power Equipment Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Outdoor Power Equipment Market report:
The North America Outdoor Power Equipment Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Outdoor Power Equipment Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Outdoor Power Equipment Market value chain can benefit from the information contained in a comprehensive market report.
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