1.1 Market size: gasoline as the main power source, lawn mower as the main category
Outdoor power equipment (OPE) is equipment mainly used for lawn, garden or courtyard maintenance. Outdoor power equipment (OPE) is a kind of power tool, mostly used for lawn, garden or courtyard maintenance. If divided according to the power source, it can be divided into fuel power, corded (external power supply) and cordless (lithium battery) equipment; If divided according to the type of equipment, it can be divided into handheld, stepper, riding and intelligent, handheld mainly includes hair dryers, pruning machines, lawn beaters, chain saws, high-pressure washers, etc., step-over mainly includes lawn mowers, snow sweepers, lawn combs, etc., riding types mainly include large lawn mowers, farmer cars, etc., intelligent types are mainly lawn mowing robots.
Outdoor maintenance is in high demand, and the OPE market continues to expand. With the increase of private and public green area, people's attention to lawn and garden maintenance deepened, and the rapid development of new energy garden machinery products, OPE City Field fastDevelop. According to Frost & Sullivan, the global OPE market size was $25.1 billion in 2020 and is expected to reach $32.4 billion in 2025, with a CAGR of 5.24% from 2020 to 2025.
According to the power source, gasoline-powered equipment is the mainstay, and cordless equipment will develop rapidly. In 2020, the market size of gasoline engine/corded/cordless/parts & accessories products was 166/11/36/3.8 billion US dollars, accounting for 66%/4%/14%/15% of the overall market share, respectively, and the market size will grow to 212/13/56/4.3 billion US dollars in 2025, with a CAGR of 5.01%/3.40%/9.24%/2.50%, respectively.
By equipment type, lawn mowers occupy the major market space. According to Statista, the global lawn mower market was valued at $30.1 billion in 2020 and is expected to reach $39.5 billion by 2025, with a CAGR of 5.6%. According to Technavio, Research and Markets and Grand View Research, the global market size of lawn punches/chainsaws/hair dryers/washers was approximately $13/40/15/$1.9 billion in 2020, and is expected to reach $16/50/18/2.3 billion in 2024, with CAGRs of 5.3%/5.7%/4.7%/4.9%, respectively (due to different data sources, so compared to the OPE above There are differences in the size of the industry market). According to the prospectus of Daye shares, the demand share of lawn mowers/professional playground equipment/brushcutters/chain saws in the global garden machinery industry in 2018 was 24%/13%/9%/11%; In 2018, lawn mower sales accounted for 40.6% of the overall sales of garden equipment in the European market and 33.9% in the North American market, and is expected to grow to 4 1.8% in the European market and 34.6% in the North American market in 2023.
1.2 Industry chain: The industry chain is becoming more and more mature, and the core players have a deep heritage
The outdoor power equipment industry chain includes upstream parts suppliers, midstream tool manufacturing/OEM and brand owners, and downstream building materials supermarkets. The upstream includes lithium batteries, motors, controllers, electrical devices, hardware, plastic particles and other industries, of which key components motors, batteries, electronic controls and drilling chucks are all engaged in production and processing business by professional suppliers. The midstream is mainly designed and manufactured by outdoor power equipment, both OEM (mainly concentrated in the three belts of Jiangsu and Zhejiang in China), and major brands belonging to OPE enterprises, which can be divided into high-end and mass according to brand positioning Two categories. Downstream channel providers are mainly outdoor power equipment retailers, distributors, e-commerce, including major building materials supermarkets and e-commerce platforms. Products are ultimately sold to home and professional consumers for home gardening, public gardens and professional lawns. Among them, home gardening is mainly private residential gardens in developed countries and regions such as Europe and the United States, public gardens are mainly municipal gardens, real estate landscapes, vacation and leisure areas, etc., and professional lawns are mainly golf courses, football fields, etc.
International players in the outdoor power equipment market include Husqvarna, John Deer, Stanley Black & D ecker, BOSCH, Toro, Makita, STIHL, etc., and domestic players mainly include innovation and technology industries (TTI), CHERVON Holdings, Glibo, Baoshide, Daye Shares, SUMEC and so on. Most of the international participants have more than 100 years of history, deeply engaged in the field of power tools or agricultural machinery, and have diversified business layouts, more than in the mid-to-late 20th century, they began to deploy outdoor power equipment; Domestic participants mainly used ODM/OEM mode in the early stage, and then actively developed their own brands and developed outdoor power equipment in the early 21st century.
1.3 Development history: The change of power source, mobility and operation mode drives the change of the industry
Lawn mowers account for the largest part of the OPE market share, and we can learn from the history of lawn mowers the development of the OPE industry. Since 1830, when engineer Edwin Budding, an engineer in Gloucestershire, England, applied for the first patent for a lawn mower, the development of lawn mowers has roughly gone through three stages: the era of human mowing (1830-1880s), the era of power (1890s-1950s) and the era of intelligence (1960s to the present).
The era of human lawn mowing (1830-1880s): The first mechanical lawn mower was invented, and the power source was mainly human/animal power. Since the 16th century, the construction of flat lawns has been regarded as a status symbol of English landowners; But until the early 19th century, people used sickles or grazing livestock to mend lawns. In 1830, English engineer Edwin Budding, inspired by the cloth cutting machine, invented the world's first mechanical lawn mower and patented it in the same year; At first Budding intended to use the machine on large estates and sports fields, and its first customer to buy a lawn mower for the Great Lawn was London Zoo.
Post time: Mar-13-2023