The debate between gas versus battery-powered has taken the outdoor power equipment market by fire. With the pros and cons being weighed about which power source is more cost-effective and efficient, let’s look at which brands and retailers are winning the market amid the discourse, as well as other trends and insights across the outdoor power equipment market.
Read on to discover current consumer preferences regarding outdoor power equipment brands, preferred purchase locations, and the underlying factors shaping consumer buying behavior. For even more actionable market intelligence, download our complimentary US outdoor power equipment industry infographic.
Source: All data in this article was pulled from the TraQline Durable IQ™ platform using the rolling 4Q ending Q2 2023, OPEI Plus Power Washer category, an aggregate of various outdoor products. For 4Q ending Q2 2023, Outdoor Power Equipment purchases consist mostly of the following Durable IQ product groups: Line Trimmer, Leaf Blower, Mower: Walk Behind, Chain Saw, and Pressure Washer. These groups represent 82% of the product aggregate.
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Who are the market share leaders in the outdoor power equipment market?
Outdoor Power Equipment Market Share by Retailer
As of June 2023, the leading retailer in the outdoor power equipment industry is Home Depot, with 27% unit share and 29% dollar share. Despite being industry leader last year in the same period. Home Depot did experience a significant drop (1.0 point) in unit share year-over-year.
The second leading retailer for outdoor power equipment is Lowe’s in unit and dollar outlet share, with 22% and 24% share, respectively.
Outdoor Power Equipment Market Share by Brand
Looking across the past four years, Ryobi has maintained their place as the top outdoor power equipment brand, winning 11.4% of the market (in units sold) as of June 2023. Additionally, Ryobi also leads other brands in dollar share at 9.6%, with no significant changes year-over-year.
The second leading brand for outdoor power equipment is Craftsman, who continues to hold this spot year-over-year with 8.2% unit and dollar share – despite also seeing a slight decrease compared to this time last year.
Which outdoor power brand is gaining market share?
Of all the major outdoor power brands, Dewalt saw the largest unit share increase versus this time last year (seeing significant growth at 0.5 percentage points). Dewalt is also one of the only top outdoor power brands to significantly increase share over each of the past four years.
How much do consumers spend on outdoor power equipment?
As of June 2023, the industry average price paid for outdoor power equipment was $202, which is a slight increase of $20 compared to the same time a year ago ($192 average price).
However, the average amount spent at different outlets can vary. Here are a few interesting pricing insights for the outdoor power industry:
- Walmart and Amazon purchasers show the lowest average price spent across outdoor power equipment products, at $143 and $144, respectively.
- Outdoor power equipment retailers with a smaller unit share typically saw prices higher than the industry average, such as Ace Hardware ($249) and independent dealers ($255).
- Across all outdoor power equipment brands, Toro had the highest average price paid, coming in at $337.
Which demographic buys the most outdoor power equipment?
Durable IQ’s census-balanced respondent pool delivers consumer demographic insights for the OPE industry. As of June 2023, demographics for outdoor power equipment buyers include:
- 80% are homeowners
- 59% have a lot size of ½ acre or less.
- 56% have been at their current address for 5+ years
- 61% are married
- 61% are ages 45+
- 58% of purchases are made with only males involved in the decision; 19% are made with males and females
How are online versus in-store sales trending for the outdoor power equipment market?
As of June 2023, in-store remains the most common sales channel for outdoor power equipment consumers, with 66% taking place at a brick-and-mortar location. Additionally:
- After an increase of 1.2 percentage points this time a year ago, in-store outdoor power sales dropped back down 1.2 points, as online sales saw significant growth.
- Consumers historically pay a significantly lower average price when purchasing outdoor power equipment online – with an average price of $182 paid by online shoppers in June 2023, and an average price of $212 paid for retail purchasers.
Battery overtakes gas — and other key outdoor power equipment market insights
Durable IQ delivers a comprehensive view of the outdoor power industry — from share insights to purchase drivers. Here are a few other key insights as of June 2023:
- After significant growth, in June 2022, battery-powered (38.3%) overtook gas-powered (34.3%) as the most purchased fuel type.
- This trend has continued through June 2023, with battery-powered purchases increasing 1.9 points, and gas-powered purchases decreasing 2.0 percentage points.
- Across the industry, the top reasons for making OPE purchases were “old one broke” (44%) and “first time purchase” (21%).
- Amazon indexes higher than all other outlets for “a first time purchase” with 31%.
- As seen in previous years, “competitive price” remains the top reason for purchasing outdoor power equipment at a specific retailer.
- 56% of outdoor power equipment purchasers mentioned “competitive price” as a reason for retailer purchase.
- Amazon over indexes in this regard, with 76% of purchasers mentioning “competitive price” as a driver for shopping the retailer for outdoor power products.
- Home Depot continues to lead other major outlets for outlet draw rate (41%) but is down 0.5 percentage points from the same time last year. Additionally:
- Home Depot close rate (65%) is down significantly, decrease of 1.7 points.
- Lowe’s draw and close rates are similar to this time last year, but down slightly.
- Amazon’s draw and close rates are both up at 1.3 points and 1.1 points, respectively.
Number of outlets shopped: Most purchasers shop at only one outlet (60%) and most purchasers shop for one brand only (73%).
Get total market insight for outdoor power equipment
For more retail sales data, market share, and insights on the outdoor power equipment market, download the Durable IQ-exclusive infographic below. To see the insights for other industries or find out how we can help power growth for your business, contact us today.