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Yahoo
3 hours ago
- Business
- Yahoo
Global Outdoor Power Equipment Market Set for $36.5 Billion Expansion by 2029
Delray Beach, FL, Aug. 17, 2025 (GLOBE NEWSWIRE) -- The report "Outdoor Power Equipment Market by Equipment Type (Lawn Mowers, Saws, Trimmers & Edgers), Power Source (Fuel-based, Electric), Functionality (Connected/Smart Products, Conventional Products), Application and Region - Global Forecast to 2029" The outdoor power equipment market is expected to grow from USD 31.0 billion in 2024 to USD 36.5 billion by 2029, at a CAGR of 3.3% during the forecast period. Increasing homeowner interest in gardening, alongside a growing demand for landscaping services, and the rising popularity of battery-powered outdoor equipment for lawn maintenance and gardening tasks, are significant factors driving the outdoor power equipment market. In addition, the development of intelligent and interconnected outdoor power equipment, along with the rising trend of choosing rental services for such equipment, generates opportunities for market growth. Download PDF Brochure: Major Key Players in the Outdoor Power Equipment Industry: Husqvarna Group (Sweden), The Toro Company (US), Deere & Company (US), Stanley Black & Decker, Inc. (US), ANDREAS STIHL AG & Co. KG (STIHL) (Germany), Techtronic Industries Co. Ltd. (Hong Kong), Hondo Motor Co., Ltd. (Japan), among others. Outdoor Power Equipment Market Segmentation: The Commercial segment is projected to experience the highest CAGR in the Outdoor Power Equipment industry over the forecast period. Commercial segment is expected to grow at the highest CAGR during the forecast period. This is primarily due to heightened demand across sectors such as landscaping, construction, and agriculture. Businesses are placing greater emphasis on enhancing efficiency and productivity, leading to increased adoption of advanced outdoor equipment for various maintenance and operational tasks. Moreover, global urbanization and ongoing infrastructure development projects are driving this upward trend. As a result, commercial entities are increasingly investing in high-performance equipment to meet evolving project demands, contributing to the projected growth of this segment. The electric-powered equipment segment is projected to experience the highest CAGR in the outdoor power equipment industry over the forecast period. Electric-powered equipment is expected to grow at the highest CAGR during the forecast period. This growth is driven by the increasing adoption of do-it-yourself (DIY) practices among residential consumers, propelled by advancements in battery technology and a rising interest in gardening activities. Furthermore, the expansion of the electric-powered equipment sector is fueled by ongoing innovations in battery technology, which enhance performance and cater to the evolving needs of both professional and residential users. Additionally, there is a notable shift towards cordless equipment, indicating a broader acceptance of electric-powered solutions in the market. The Asia Pacific region is projected to experience the highest CAGR in the outdoor power equipment industry over the forecast period. The Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Asia Pacific is expected to grow at a higher CAGR during the forecast period. This surge is driven by several key factors, including rapid urbanization and infrastructure development across emerging economies such as China and India. Additionally, increasing disposable incomes and a growing middle class in the region are boosting demand for outdoor power tools for both residential and commercial applications. Ask for Sample Report: Attractive Opportunities in the outdoor power equipment market Rising interest in gardening activities and increasing demand for landscaping services and increasing use of battery-powered outdoor power equipment for lawn maintenance are acting as major drivers for the outdoor power equipment market. By Equipment Type, Lawn Mowers segment is expected to hold the largest market share in 2024. By Application, Residential/DIY segment is expected to lead the outdoor power equipment market during forecast period. The market in Asia Pacific is projected to record the highest CAGR owing to the rising income levels and increasing investment in gardening equipment collectively contribute to the growth of outdoor power equipment market. CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets™ INC. 1615 South Congress Ave. Suite 103, Delray Beach, FL 33445, USA: +1-888-600-6441 Email: sales@ Visit Our Website: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
The Toro Company Names Edric C. Funk President and Chief Operating Officer
BLOOMINGTON, Minn., August 12, 2025--(BUSINESS WIRE)--The Toro Company (NYSE: TTC), a leading global provider of solutions for the outdoor environment, today announced that Edric C. Funk has been appointed president and chief operating officer, effective September 1, 2025. Funk, a 29-year veteran of the company, has served as group vice president of Golf, Grounds and Irrigation since 2022. In this new role, he will assume responsibility for all of the company's global businesses and integrated supply chain operations, continuing to report to Richard M. Olson, chairman and chief executive officer. "Edric's track record of driving business performance and fostering innovation uniquely equips him for the role of chief operating officer," said Olson. "Throughout his tenure, Edric has consistently delivered strong financial results and value creation across diverse technical and business functions – directly contributing to our growth and competitive position. His deep understanding of our customers, and technologies coupled with a disciplined strategic approach, will continue to propel The Toro Company forward and create value for all stakeholders." Since joining The Toro Company in 1996 as a design engineer, Funk transitioned to marketing in 2003 and held roles of increasing responsibility in the company's Residential, Landscape Contractor, International and Commercial businesses. In 2014, he was promoted to director of global product management for the Commercial and International businesses, and in 2017 was named managing director of the company's Center for Technology, Research & Innovation (CTRI). Funk went on to become the general manager of the Sitework Systems business in 2020, before being promoted to group vice present of Golf, Grounds and Irrigation, where he has played an influential role in driving performance across multiple professional product categories. Funk was instrumental in the acquisitions of both Left Hand Robotics and TURFLYNX, which accelerated the development of robotic mowing platforms recently introduced to the market. He also elevated the organization's technology community through the creation of its Technology Forum and has championed integrated smart systems delivering more holistic solutions for customers. In 2020, he was recognized by Golf, Inc. as one of the Most Innovative People in Golf. "I am honored to serve in this role, and I look forward to working alongside our talented team to drive operational performance across our businesses, with a focus on accelerating profitable growth, advancing the company's technology roadmap and optimizing global supply chain operations," said Funk. Funk received a Bachelor of Science in engineering from the University of Minnesota and an MBA from The University of Minnesota – Carlson School of Management. He also has a professional certificate in innovation and technology from the Massachusetts Institute of Technology. He serves on the boards of the National Golf Foundation, The Toro Company Foundation, and Red Iron Acceptance. About The Toro CompanyThe Toro Company (NYSE: TTC) is a leading global provider of solutions for the outdoor environment including turf and landscape maintenance, snow and ice management, underground utility construction, rental and specialty construction, and irrigation and outdoor lighting solutions. With net sales of $4.6 billion in fiscal 2024, The Toro Company's global presence extends to more than 125 countries through a family of brands that includes Toro, Ditch Witch, Exmark, Spartan, BOSS, Ventrac, American Augers, Subsite, HammerHead, Radius, Perrot, Hayter, Unique Lighting Systems, Irritrol, and Lawn-Boy. Through constant innovation and caring relationships built on trust and integrity, The Toro Company and its family of brands have built a legacy of excellence by helping customers work on golf courses, sports fields, construction sites, public green spaces, commercial and residential properties and agricultural operations. For more information, visit View source version on Contacts Investor Relations Jeremy SteffanDirector, Investor Relations(952) 887-7962, Media Relations Branden HappelSenior Manager, Public Relations(952) 887-8930,
Business Wire
5 days ago
- Business
- Business Wire
The Toro Company Names Edric C. Funk President and Chief Operating Officer
BLOOMINGTON, Minn.--(BUSINESS WIRE)--The Toro Company (NYSE: TTC), a leading global provider of solutions for the outdoor environment, today announced that Edric C. Funk has been appointed president and chief operating officer, effective September 1, 2025. Funk, a 29-year veteran of the company, has served as group vice president of Golf, Grounds and Irrigation since 2022. In this new role, he will assume responsibility for all of the company's global businesses and integrated supply chain operations, continuing to report to Richard M. Olson, chairman and chief executive officer. 'Edric's track record of driving business performance and fostering innovation uniquely equips him for the role of chief operating officer,' said Olson. 'Throughout his tenure, Edric has consistently delivered strong financial results and value creation across diverse technical and business functions – directly contributing to our growth and competitive position. His deep understanding of our customers, and technologies coupled with a disciplined strategic approach, will continue to propel The Toro Company forward and create value for all stakeholders.' Since joining The Toro Company in 1996 as a design engineer, Funk transitioned to marketing in 2003 and held roles of increasing responsibility in the company's Residential, Landscape Contractor, International and Commercial businesses. In 2014, he was promoted to director of global product management for the Commercial and International businesses, and in 2017 was named managing director of the company's Center for Technology, Research & Innovation (CTRI). Funk went on to become the general manager of the Sitework Systems business in 2020, before being promoted to group vice present of Golf, Grounds and Irrigation, where he has played an influential role in driving performance across multiple professional product categories. Funk was instrumental in the acquisitions of both Left Hand Robotics and TURFLYNX, which accelerated the development of robotic mowing platforms recently introduced to the market. He also elevated the organization's technology community through the creation of its Technology Forum and has championed integrated smart systems delivering more holistic solutions for customers. In 2020, he was recognized by Golf, Inc. as one of the Most Innovative People in Golf. 'I am honored to serve in this role, and I look forward to working alongside our talented team to drive operational performance across our businesses, with a focus on accelerating profitable growth, advancing the company's technology roadmap and optimizing global supply chain operations,' said Funk. Funk received a Bachelor of Science in engineering from the University of Minnesota and an MBA from The University of Minnesota – Carlson School of Management. He also has a professional certificate in innovation and technology from the Massachusetts Institute of Technology. He serves on the boards of the National Golf Foundation, The Toro Company Foundation, and Red Iron Acceptance. About The Toro Company The Toro Company (NYSE: TTC) is a leading global provider of solutions for the outdoor environment including turf and landscape maintenance, snow and ice management, underground utility construction, rental and specialty construction, and irrigation and outdoor lighting solutions. With net sales of $4.6 billion in fiscal 2024, The Toro Company's global presence extends to more than 125 countries through a family of brands that includes Toro, Ditch Witch, Exmark, Spartan, BOSS, Ventrac, American Augers, Subsite, HammerHead, Radius, Perrot, Hayter, Unique Lighting Systems, Irritrol, and Lawn-Boy. Through constant innovation and caring relationships built on trust and integrity, The Toro Company and its family of brands have built a legacy of excellence by helping customers work on golf courses, sports fields, construction sites, public green spaces, commercial and residential properties and agricultural operations. For more information, visit
Yahoo
07-08-2025
- Business
- Yahoo
The Toro Company Announces Sale of Trencor Brand and Auger Boring Category Under the American Augers Brand
Strategic actions aimed at supporting future growth in core segments, driving operational efficiencies, and building a leadership position in the underground construction industry BLOOMINGTON, Minn., August 07, 2025--(BUSINESS WIRE)--The Toro Company (NYSE: TTC), a leading global provider of solutions for the outdoor environment, today announced the sale of its Trencor equipment brand and the auger boring product category, a subset of the American Augers brand. Terms of the transactions were not disclosed. With the divesture of the auger boring product category, The Toro Company will continue to manufacture American Augers' line of underground equipment including large horizontal directional drills, pumps and fluid cleaning systems at its West Salem, Ohio, location. The divesture of Trencor includes assets specific to the full line of large-track trenchers and mining equipment. "Today's announcement within our construction portfolio places additional focus on the core underground categories that will provide the greatest growth opportunity and best position our business for future success," said Peter Moeller, group vice president, Construction Businesses at The Toro Company. "Supported by demand in the pipeline, water and energy transmission sectors, we are excited about the near and long-term prospects for our underground construction business and our ability to deliver cutting-edge solutions to meet the needs of our customers." These transactions represent The Toro Company's commitment to disciplined portfolio management and prudent capital allocation strategies. It also represents an opportunity for The Toro Company to remain competitive in its core underground construction markets with a focus on efficiency improvements and synergy gains. Revenue for each business component have historically been included in the company's professional segment results. Trencor and American Augers became part of The Toro Company through the acquisition of Charles Machine Works in 2019, which includes Ditch Witch and other leading underground construction brands. About The Toro CompanyThe Toro Company (NYSE: TTC) is a leading worldwide provider of innovative solutions for the outdoor environment including turf and landscape maintenance, snow and ice management, underground utility construction, rental and specialty construction, and irrigation and outdoor lighting solutions. With net sales of $4.6 billion in fiscal 2024, The Toro Company's global presence extends to more than 125 countries through a portfolio of brands that includes Toro, Ditch Witch, Exmark, Spartan, BOSS, Ventrac, American Augers, Subsite, HammerHead, Radius, Perrot, Hayter, Unique Lighting Systems, Irritrol, and Lawn-Boy. Through constant innovation and caring relationships built on trust and integrity, The Toro Company and its brands have built a legacy of excellence by helping customers work on golf courses, sports fields, construction sites, public green spaces, commercial and residential properties and agricultural operations. For more information, visit View source version on Contacts Investor Relations Jeremy SteffanDirector, Investor Relations(952) 887-7962, Media Relations Branden HappelSenior Manager, Public Relations(952) 887-8930, Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
07-08-2025
- Business
- Business Wire
The Toro Company Announces Sale of Trencor Brand and Auger Boring Category Under the American Augers Brand
BLOOMINGTON, Minn.--(BUSINESS WIRE)--The Toro Company (NYSE: TTC), a leading global provider of solutions for the outdoor environment, today announced the sale of its Trencor equipment brand and the auger boring product category, a subset of the American Augers brand. Terms of the transactions were not disclosed. With the divesture of the auger boring product category, The Toro Company will continue to manufacture American Augers' line of underground equipment including large horizontal directional drills, pumps and fluid cleaning systems at its West Salem, Ohio, location. The divesture of Trencor includes assets specific to the full line of large-track trenchers and mining equipment. 'Today's announcement within our construction portfolio places additional focus on the core underground categories that will provide the greatest growth opportunity and best position our business for future success,' said Peter Moeller, group vice president, Construction Businesses at The Toro Company. 'Supported by demand in the pipeline, water and energy transmission sectors, we are excited about the near and long-term prospects for our underground construction business and our ability to deliver cutting-edge solutions to meet the needs of our customers.' These transactions represent The Toro Company's commitment to disciplined portfolio management and prudent capital allocation strategies. It also represents an opportunity for The Toro Company to remain competitive in its core underground construction markets with a focus on efficiency improvements and synergy gains. Revenue for each business component have historically been included in the company's professional segment results. Trencor and American Augers became part of The Toro Company through the acquisition of Charles Machine Works in 2019, which includes Ditch Witch and other leading underground construction brands. About The Toro Company The Toro Company (NYSE: TTC) is a leading worldwide provider of innovative solutions for the outdoor environment including turf and landscape maintenance, snow and ice management, underground utility construction, rental and specialty construction, and irrigation and outdoor lighting solutions. With net sales of $4.6 billion in fiscal 2024, The Toro Company's global presence extends to more than 125 countries through a portfolio of brands that includes Toro, Ditch Witch, Exmark, Spartan, BOSS, Ventrac, American Augers, Subsite, HammerHead, Radius, Perrot, Hayter, Unique Lighting Systems, Irritrol, and Lawn-Boy. Through constant innovation and caring relationships built on trust and integrity, The Toro Company and its brands have built a legacy of excellence by helping customers work on golf courses, sports fields, construction sites, public green spaces, commercial and residential properties and agricultural operations. For more information, visit
