Small Gas Engine Market Market Size
[170+ Pages Research Report] Small Gas Engine Market to surpass USD 1.6 billion by 2032 from USD 2.86 billion in 2021 at a CAGR of 4.5% throughout the forecast period 2022-32
Small Engines are engines having less than 25 horsepower. Precisely, the horsepower increases with engine size. Chainsaws, string trimmers, rotary tillers, lawnmowers, concrete vibrators, snow blowers, leaf blowers, portable generators, and pressure washers are a few examples of outdoor power tools that employ small gas engines. Users probably use a device with a little gasoline engine whether they live in a city or on a farm. Small engines play a significant role in enhancing our quality of life, from grain augers to pumps, snow blowers, and lawnmowers. To ensure that they operate healthily for a long time, all of these machines require care and routine maintenance.
Market Highlights
The Small Gas Engine Market is expected to project a notable CAGR of 4.5% in 2032.
Small Gas Engine Market to surpass USD 4.7 billion by 2032 from USD 2.86 billion in 2021 at a CAGR of 4.5% in the coming years, i.e., 2022-32. The demand for small gas engines is being greatly fueled by the rapid development in industrialization and the movement of people from rural to urban regions, which is increasing the construction of homes and businesses. Besides the nations of South Asia, rapid urbanization is driving the rise of the building industry in developing nations. This is positively impacting the Small Gas Engine Market.
Figure - Market Analysis of Small Gas Engine Market Analysis of Market
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Small Gas Engine Market: Segments
The Lawnmower segment is expected to grow with a higher CAGR during 2022-32
Small Gas Engine Market is categorized on the basis of Equipment into Lawnmower, Chainsaw, Portable Generator, Pressure Washer, Trimmer, Edger, and Others. During the forecasted period, the lawnmower segment is anticipated to dominate the global market. The primary factor driving the segment's growth, among others, is the widespread usage of lawnmowers in household and commercial applications.
The Gardening segment is expected to grow with a higher CAGR during 2022-32
Small Gas Engine Market is categorized on the basis of Application into Gardening, Industrial, Construction, and Others. The gardening segment is projected to hold a considerable share of the market during the forecast period. An important factor in the growth of the gardening segment is the increasing demand for outdoor power devices or machines in landscaping services.
Figure - Market Analysis of Global Small Gas Engine Market
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Market Dynamics
Growth Drivers
Growing Urbanization & Industrialization and Progress of Industrial & Residential Sector
The construction industry is expanding in nations like China, India, and other South Asian nations as a result of the global development of industrialization and urbanization. Due to these factors, the construction industry would use small gas engines more frequently. Outdoor power machines are also anticipated to be often hired and attract a lot of interest from homeowners and contractors due to low maintenance expenses and low production costs. The growth of the residential and industrial sectors is another factor contributing to the forecasted rapid growth of the global Small Gas Engine Market.
Rising Trend of Product Innovations and Development and Supportive Government Regulations
Product innovation and development are the essential market trends for small gas engines. Since there are just a few major competitors in the Small Engine Gas Market, other producers, primarily in China, are in a position to create small gas engines that are more productive and efficient in terms of fuel use. Manufacturers are also being forced to increase the efficiency of small gas engines by rules due to government regulations about the hazardous emissions produced by small engines.
Restraint
High Costs of Small Gas Engines for Enterprises
The small gas engines are significantly priced. The manufacturing cost of small gas engines is also high due to their compact design and dimensions. Some components are imported from other nations, which increases the overall price. The high cost of small gas engines may not be afforded by several enterprises and thus, this factor restricts the growth of the market.
Recent Developments
- Kohler stated in April 2020 that it will be adding new models to its line of gas-powered industrial generators, with outputs of 100 kW and 125 kW. The LP gas, dual gas, and natural gas can all be used to power these generator sets.
- Honda Power Equipment, in August 2019, stated that it would spend about USD 46 million to increase the manufacturing capacity of its plant in Swepsonville, North Carolina. The HRN lawnmower will start being produced by the business in September 2019.
- The Californian government in October 2021 passed a law that would probably phase out the sale of new gas-powered small off-road engines (SORE), which are largely used in outdoor power equipment. By 2024, the California Air Resources Board (CARB) must reduce the pollution standards for small off-road engines to zero, under AB 1346.
Small Gas Engine Market: Key Players
- Siemens
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- Caterpillar Inc.
- Kubota Corporation
- Doosan Corporation
- Kohler Co.
- Yanmar Co. Ltd.
- Generac Power Systems Inc.
- Briggs and Stratton Corporation
- Changchai Co. Ltd.
- Maruyama Mfg. Co. Inc.
- Champion Power Equipment
- Jeemar Power
- Liquid Combustion Technology
- Loncin Motor Co. Ltd.
- Fuzhou Launtop M&E Co. Ltd
- Other Prominent Players
Small Gas Engine Market: Regions
Small Gas Engine Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America currently dominates the Small Gas Engine Market and is anticipated to develop at a faster rate during the projected period. The growth of the construction industry, particularly in North America, Europe, and Asia-Pacific, is the primary factor driving the Small Gas Engine Market. With increasing investments in the construction sector and the rental of outdoor powered equipment, the United States will have the fastest growth in the Small Gas Engine Market.
In Asia Pacific, the demand for equipment with modern technology is rapidly rising. Industrialization is also rapidly growing, and both the business and residential sectors are experiencing rapid growth. Due to the strong demand for various industrial and gardening equipment, manufacturing of various components like small gas engines, is rapidly expanding in Asia Pacific region.
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Impact of Covid-19 on Small Gas Engine Market
Significant negative effects have been experienced by the electricity and energy sector, and during the lockdown, investments in this area also decreased. Power costs had greatly decreased, and power demand had also decreased. The Small Gas Engine Market has been negatively impacted by this. Small gas engine sales have been negatively impacted by the cancellation or postponement of numerous future power projects.
Small Gas Engine Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Small Gas Engine Market report also contains analysis on:
Small Gas Engine Market Segments:
- By Equipment
- Lawnmower
- Chainsaw
- Portable Generator
- Pressure Washer
- Trimmer
- Edger
- Others
- By Engine Displacement
- 20-100cc
- 101-450cc
- 451-650cc
- By Application
- Gardening
- Industrial
- Construction
- Others
- Small Gas Engine Market Dynamics
- Small Gas Engine Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Small Gas Engine Market Report Scope and Segmentation
|
REPORT ATTRIBUT |
DETAILS |
|
Market Size Value in 2021 |
USD 2.86 billion |
|
Revenue Forecast in 2032 |
USD 4.7 billion |
|
Growth Rate |
CAGR of 4.5% from 2022 to 2032 |
|
Base Year for Estimation |
2021 |
|
Quantitative Units |
Revenue in USD billion and CAGR from 2022 to 2032 |
|
Report Coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments Covered |
Equipment, Engine Displacement, Application, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
|
Key Companies Profiled |
Siemens, Caterpillar Inc., Kubota Corporation, Doosan Corporation, Kohler Co., Yanmar Co. Ltd., Generac Power Systems Inc., Briggs and Stratton Corporation, Changchai Co. Ltd., Maruyama Mfg. Co. Inc., Champion Power Equipment, Jeemar Power, Liquid Combustion Technology, Loncin Motor Co. Ltd., Fuzhou Launtop M&E Co. Ltd, and Other Prominent Players. |
Frequently Asked Questions (FAQ):
The Small Gas Engine Market size was estimated at USD 2.86 billion in 2021 and is expected to reach USD 4.7 billion in 2032.
Small Engines are engines having less than 25 horsepower. Precisely, the horsepower increases with engine size. Chainsaws, string trimmers, rotary tillers, lawnmowers, concrete vibrators, snow blowers, leaf blowers, portable generators, and pressure washers are a few examples of outdoor power tools that employ small gas engines.
The Lawnmower and Gardening segments accounted for the larger share of the Small Gas Engine Market.
Key players in the Small Gas Engine Market are Siemens, Caterpillar Inc., Kubota Corporation, Doosan Corporation, Kohler Co., Yanmar Co. Ltd., Generac Power Systems Inc., Briggs and Stratton Corporation, Changchai Co. Ltd., Maruyama Mfg. Co. Inc., Champion Power Equipment, Jeemar Power, Liquid Combustion Technology, Loncin Motor Co. Ltd., Fuzhou Launtop M&E Co. Ltd, and Other Prominent Players.
The demand for Small Gas Engine Market is being greatly fueled by the increasing demand for small gas engines, rapid development in industrialization and the movement of people from rural to urban regions that increases the construction of homes and businesses.
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