Selbyville, Delaware,, March 06, 2024 (GLOBE NEWSWIRE) --
The small engine market is predicted to reach USD 12 billion by 2032, as reported in a research study by Global Market Insights Inc.
The increasing adoption of landscaping and gardening equipment, coupled with the growing preference for environmentally friendly electric and hybrid engines will accelerate the market expansion. With the rising awareness of ecological impacts, consumers are seeking greener alternatives for their outdoor power needs. This shift aligns with the surging preference towards sustainable solutions, further creating a robust demand for compact, efficient engines. Manufacturers are also responding with a range of eco-conscious options, from battery-powered trimmers to hybrid lawnmowers, for catering to both performance and environmental stewardship.
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The growing focus on diversifying product ranges by unveiling state-of-the-art solutions customized for different sectors, with the goal of meeting the varied needs of industries will also outline the industry growth.
Based on energy resource, the demand for electricity small engine market will witness a considerable rise by 2032, driven by the global shift towards sustainability and clean energy. With increasing concerns about emissions and environmental impacts, consumers and industries are turning to electric engines for their power needs. Advancements in battery technology have improved the performance and efficiency of electric engines, making them a preferred choice for a range of applications, from power tools to outdoor equipment. This trend towards electrification will prove favorable for the segment growth.
The small engine market from the lawn mower application segment will see a considerable surge by 2032. This is propelled by the widespread use of lawn mowers in residential, commercial, and municipal landscaping. With homeowners and businesses prioritizing lawn maintenance, the demand for efficient and powerful engines for mowing equipment is rising. The surge in landscaping services and the popularity of DIY gardening will further push the demand for small engines in lawn mowers.
Europe small engine market size will grow at a significant CAGR from 2024 to 2032. The presence of stringent environmental regulations is driving the demand for eco-friendly engines, aligning with the sustainability goals in the region. Moreover, the thriving automotive and aerospace industries are necessitating compact and high-performance engines for a variety of applications. Additionally, the growing popularity of recreational activities like boating and camping will further fuel the regional product demand.
Prominent players operating in the small engine market include Yamaha, Honda Motor Co., Ltd., and Briggs & Stratton, among others. These companies are expanding their market share through strategic initiatives and are investing in R&D activities to introduce innovative products that cater to evolving consumer needs. For instance, in October 2023, Honda unveiled its inaugural battery-powered zero-turn riding mower, the Honda Autonomous Work Mower (AWM) prototype, marking a significant move towards autonomous solutions to enhance worksite productivity.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Small Engine industry 3600 synopsis, 2018 – 2032
2.2 Business trends
2.3 Engine trends
2.4 Energy Resources trends
2.5 Engine Displacement trends
2.6 Application trends
2.7 Distribution Channel trends
2.8 Regional trends
Chapter 3 Small Engine Market Insights
3.1 Industry ecosystem analysis
3.1.1 Profit margin analysis
3.1.2 Pricing Analysis
3.1.3 Raw Material Analysis
3.2 Key news and initiatives
3.3 Regulatory landscape
3.4 Impact forces
3.5 Growth drivers
3.5.1 Outdoor Power Equipment Demand
3.5.2 Growth in Construction and Infrastructure Development
3.5.3 Growth in Agriculture and Gardening
3.6 Industry pitfalls & challenges
3.7 Growth potential analysis
3.8 Demographic Overview
3.9 Consumer Behaviour Analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
