Pune, Sept. 27, 2023 (GLOBE NEWSWIRE) -- “The SNS Insider report indicates that the Small Gas Engines Market reached a valuation of USD 3.1 billion in 2022 and is projected to expand to USD 4.69 billion by 2030, with a compound annual growth rate (CAGR) of 5.3% during the forecast period from 2023 to 2030.”
Market Overview
Small gas engines, also known as gasoline engines or petrol engines, are internal combustion engines that are designed to power a wide range of small machines and equipment. These engines are distinguished by their compact size and are commonly used in various applications, from lawnmowers and chainsaws to portable generators and water pumps. Small gas engines typically feature a carburetor to mix the right proportion of air and fuel for combustion. In more modern engines, electronic fuel injection systems have started replacing traditional carburetors for improved fuel efficiency.
Market Analysis
The small gas engine market has been experiencing significant growth in recent years, driven by a combination of factors that have created a favorable environment for this industry. The increasing demand for outdoor power equipment such as lawnmowers, generators, leaf blowers, and chainsaws has been a major driver for small gas engines. These engines are the powerhouses behind these tools, making them essential for both residential and commercial users. With a growing trend toward landscaping and gardening services, the need for reliable and powerful small gas engines has surged. Landscaping companies rely on these engines to maintain large properties efficiently. Small gas engines play a crucial role in the construction industry, powering tools and equipment like concrete mixers, compaction equipment, and water pumps. The construction sector's growth directly translates to increased demand for these engines.
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Major Players Listed in this Report are:
- Briggs and Stratton Corporation
- Honda Motor Co., Ltd
- Yamaha Motor Corporation
- Kipor Power
- Champion Power Equipment
- Kohler Co.
- Liquid Combustion Technology
- Kawasaki Heavy Industries
- Fuji Heavy Industries
- Kubota Corporation & Other Players
Small Gas Engines Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 3.1 Bn |
| Market Size by 2030 | US$ 4.69 Bn |
| CAGR | CAGR of 5.3% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Key Takeaway from Small Gas Engines Market Study
- The lawnmower segment's enduring dominance in the small gas engines market can be attributed to its widespread demand, technological advancements, and the ever-expanding range of applications. As long as green spaces require maintenance, small gas engines will play a vital role in this segment.
- The market is witnessing a significant shift towards the dominance of the construction segment. One of the primary drivers is the construction industry's inherent reliance on power equipment, all of which require small gas engines for operation. From portable generators to concrete mixers, these engines provide the necessary power and mobility for a wide array of construction tasks.
Recent Developments
- In a groundbreaking move towards sustainable transportation solutions, four renowned motorcycle manufacturers, Honda, Suzuki, Yamaha, and Kawasaki, have joined forces to create an unprecedented partnership. The main objective of this collaboration is to harness the power of hydrogen as a clean and efficient energy source for small combustion engines.
- General Motors (GM) has announced its intention to invest nearly $1 billion more into the production of internal combustion engines (ICEs), signaling the company's commitment to a diverse portfolio of powertrains in the face of a rapidly evolving automotive industry. This move comes at a time when the global automotive landscape is witnessing a significant shift towards electric vehicles (EVs) and sustainable mobility solutions.
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Market Dynamics Analysis
The small gas engines market is characterized by a complex interplay of drivers, restraints, challenges, and threats that shape its dynamics. Among the primary drivers, the increasing demand for outdoor power equipment in both residential and commercial sectors plays a pivotal role. This surge in demand is driven by a growing emphasis on landscaping and lawn maintenance, as well as the expanding construction industry. Moreover, the versatility and convenience offered by small gas engines in various applications, including lawnmowers, generators, and portable pumps, continue to bolster market growth. However, this industry is not without its restraints and challenges. Stringent emissions regulations and the growing environmental consciousness among consumers are significant restraints, compelling manufacturers to invest in cleaner, more efficient engine technologies. Furthermore, the market faces threats from factors such as supply chain disruptions, which have become increasingly common due to global events like the COVID-19 pandemic.
Small Gas Engines Market Key Segmentation:
By Engine Displacement
- 20-100CC
- 101-450CC
- 451-650CC
By Equipment
- Lawnmower
- Pressure Washer
- Trimmer
- Chainsaw
- Tillers
- Leaf Blowers
- Portable Generator
- Edger
- Others
By Application
- Construction
- Gardening
- Industrial
- Others
Key Regional Developments
North America enjoys economic stability, which results in higher consumer spending on outdoor equipment like lawnmowers, generators, and chainsaws powered by small gas engines. Europe places a strong emphasis on environmental protection, pushing manufacturers to develop low-emission and energy-efficient small gas engines. Urbanization trends have led to smaller yards and gardens, increasing the demand for compact and lightweight equipment powered by small gas engines. The Asia-Pacific region, especially countries like China and India, is experiencing rapid industrialization, leading to an increased need for backup power generators.
Impact of Recession on Small Gas Engines Market Growth
The ongoing recession has had a multifaceted impact on the small gas engines market. Reduced consumer spending, supply chain disruptions, and competitive pricing pressures are challenges that manufacturers in this industry must navigate. However, opportunities may arise from government stimulus efforts and a growing emphasis on eco-friendly alternatives. Adapting to changing market dynamics and exploring new technologies will be essential for businesses in the small gas engine sector to thrive in the post-recession landscape.
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Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Small Gas Engines Market Segmentation, By Engine Displacement
9. Small Gas Engines Market Segmentation, By Equipment
10. Small Gas Engines Market Segmentation, By Application
11. Regional Analysis
12. Company Profile
13. Competitive Landscape
14. Use Cases and Best Practices
15. Conclusion
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