Outdoor Power Equipment Market Is Likely To Witness Growth Rate of Nearly 3.9% CAGR during the Forecasted Years
The global
outdoor power equipment market is expected to grow at a CAGR of 3.9% from
2022 to 2032, with a market valuation of USD 44.8 billion in 2022 and exceeding
USD 63.3 billion by 2032.
As people
shift to greener energy sources to reduce carbon emissions and improve environmental
safety, the world is moving toward more environmentally friendly technologies.
The outdoor
power equipment market is mature, and its growth is primarily influenced by
factors such as population and age distribution, consumer spending, housing and
other constructions, location, and recreational and leisure activities
worldwide, which increase consumer sales.
However,
robotics and battery technology are expected to play a significant role in the
industry's future growth.
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In recent
years...