Selbyville, Delaware, June 01, 2020 (GLOBE NEWSWIRE) --
According to latest report “Small Off-Road Engines Market by Engine Displacement (Up to 100cc, 100cc to 500cc, 500cc to 800cc), Number Of Cylinder (Single, Double, Multi), Drive Shaft Orientation (Horizontal, Vertical), End-Use Sector (Agriculture, Domestic, Gardening/Landscaping, Industrial, Automotive, Construction) Distribution Channel (OEM, Aftermarket), Regional Outlook, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of small off-road engines (SORE) will reach $14.5 billion by 2026. Escalating use of small off-road engines to power several machineries across diverse end-use sectors will primarily boost the market demand.
500cc to 800cc segment in the small off-road engines market is likely to grow at a significant rate through 2026 due to its increasing demand across various end-use sectors such as automotive and construction. These engines in automotive and construction industry power snowmobile, golf carts, utility vehicles, portable tampers, mortar mixers, concrete saws, boring units, and pumps.
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Multi cylinder small off-road engines accounts a fair share of over 35% in the overall market revenue and is estimated to grow substantially till 2026, owing to its extensive usage across various end-use sectors. Further, high power output, low vibrations and less emission during operation will further increase product penetration over the forecast spell.
Small off-road engines application in agriculture industry is likely to grow at a CAGR of around 4.5% from 2020 to 2026. This is credited to growing use of product to power various equipment and machines that mainly includes tiller, cultivators, and pumps.
The small off-road engine distribution through aftermarket suppliers will witness a growth rate of around 5% during the forecast period. This growth can be credited to its cost affordability and low replacement rate when compared to original equipment manufacturers.
Europe small off-road engines market is anticipated to exhibit a considerable growth in the coming years. This is owing to increasing product demand from well-established domestic, automotive and construction industries across France, Germany, and Russia. In addition, the region also includes a large number of all-terrain vehicles, golf carts, and snowmobiles that uses the product for their operation. Further, the presence of well-established product manufactures in the region will surge the market revenue.
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Some major findings of the small off-road engines (SORE) market report include:
- Growing importance towards maintaining urban green spaces globally will positively influence the market penetration.
- Asia Pacific is the largest growing market for small off-road engines.
- Rising product demand from domestic, agriculture and industrial machineries will positively influence the market growth.
- Major market players include Briggs & Stratton Engines, Honda Motor Co., Ltd., Kawasaki Heavy Industries. Ltd., Yanmar Co. Ltd., Kubota Corporation, and Yamaha Motor Co., Ltd.
- Manufacturers are primarily focusing on geographic expansion, technology advancement, and merger and acquisitions strategies in the long run.
Table of Contents (ToC) of the report:
Chapter 3. Small Off-Road Engines Market Insights
3.1. Industry segmentation
3.2. Industry size and forecast, 2016 – 2026
3.3. Industry ecosystem analysis
3.3.1. Profit margin analysis
3.3.2. Value addition at each stage
3.3.3. Distribution channel analysis
3.3.4. Vendor matrix
3.3.4.1. List of key manufacturers and suppliers
3.3.4.2. List of key/potential customers
3.4. Innovation & sustainability
3.4.1. Technology landscape
3.4.2. Future trends including COVID-19 impact
3.4.2.1. Production trends
3.4.2.2. Demand trends
3.5. Industry megatrends
3.6. Industry impact forces
3.6.1. Growth drivers
3.6.2. Industry pitfalls & challenges
3.7. Regulatory trends
3.8. Growth potential analysis
3.9. Competitive landscape, 2019
3.9.1. Company market share, 2019
3.9.2. Strategy dashboard
3.10. Porter’s analysis
3.10.1. Supplier power
3.10.2. Buyer power
3.10.3. Threat of new entrants
3.10.4. Threat of substitutes
3.10.5. Industry rivalry
3.11. Price trends
3.11.1. Regional price trends
3.11.2. Cost structure analysis
3.11.2.1. R&D cost
3.11.2.2. Manufacturing & equipment cost
3.11.2.3. Raw material cost
3.11.2.4. Distribution cost
3.11.2.5. Operating cost
3.11.2.6. Miscellaneous cost
3.12. PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/small-off-road-engines-market
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.