Major trends in the forecast period include technological advancements, sustainable landscaping, battery-powered equipment, electric lawnmowers, smart and connected equipment. How Is The Outdoor Power Equipment Market Segmented? The outdoor power equipment market covered in this report is segmented –
The global outdoor power equipment market size was estimated at USD 53.42 billion in 2024 and is projected to grow at a CAGR of 6.3% from 2025 to 2030. The market growth can be ascribed to the increasing demand for cordless outdoor power equipment as people are more inclined toward greater flexibility and portability.
North America dominated the global market with a share of 51.51% in 2024. The outdoor power equipment market in the U.S. is projected to grow significantly, reaching an estimated value of USD 24.94 billion by 2032, driven by the rising demand for battery-powered equipment for landscaping and gardening services.
The Outdoor Power Equipment Market is poised for steady growth, driven by ongoing technological advancements, the shift towards sustainable practices, and the increasing recognition of the importance of outdoor spaces. Manufacturers that align with these trends and address evolving consumer needs are likely to thrive in the future market.
Market Opportunities: Smart Outdoor Power Equipment: The integration of smart technologies, such as IoT-enabled features and connectivity, presents an opportunity for OPE manufacturers to offer innovative and user-friendly solutions.
The North America outdoor power equipment industry accounted for 35.28% of the global overall market share in 2024. The regional market’s growth is attributed to North America’s larger geographical area compared to its population, which leads to more gardens and lawns in the region.
The global residential solar storage and inverter market is experiencing rapid expansion, with demand increasing by over 300% in the past three years. Home energy storage solutions now account for approximately 35% of all new residential solar installations worldwide. North America leads with 38% market share, driven by homeowner energy independence goals and federal tax credits that reduce total system costs by 26-30%. Europe follows with 32% market share, where standardized home storage designs have cut installation timelines by 55% compared to custom solutions. Asia-Pacific represents the fastest-growing region at 45% CAGR, with manufacturing innovations reducing system prices by 18% annually. Emerging markets are adopting residential storage for backup power and energy cost reduction, with typical payback periods of 4-7 years. Modern home installations now feature integrated systems with 10-30kWh capacity at costs below $700/kWh for complete residential energy solutions.
Technological advancements are dramatically improving home solar storage and inverter performance while reducing costs. Next-generation battery management systems maintain optimal performance with 40% less energy loss, extending battery lifespan to 15+ years. Standardized plug-and-play designs have reduced installation costs from $1,200/kW to $650/kW since 2022. Smart integration features now allow home systems to operate as virtual power plants, increasing homeowner savings by 35% through time-of-use optimization and grid services. Safety innovations including multi-stage protection and thermal management systems have reduced insurance premiums by 25% for solar storage installations. New modular designs enable capacity expansion through simple battery additions at just $600/kWh for incremental storage. These innovations have improved ROI significantly, with residential projects typically achieving payback in 5-8 years depending on local electricity rates and incentive programs. Recent pricing trends show standard home systems (5-10kWh) starting at $8,000 and premium systems (15-20kWh) from $12,000, with financing options available for homeowners.