PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1363799
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1363799
Small gas engines are used in a variety of outdoor power equipment, including chainsaws, rotary tillers, hedge trimmers, string trimmers, concrete vibrators, concrete screeds, lawnmowers, leaf blowers, snow blowers, portable generators, pressure washers and edgers. The rising demand for lawnmowers is one of the key factors that is predicted to drive market expansion. The majority of lawn mower equipment sales are made in the residential and commercial construction markets. Also, another key factor supporting the market growth is increasing demand for outdoor power equipment with low-emission and fuel-efficiency, and advent of special gas engines and remote generation application are anticipated to create the lucrative demand for the market during forecast period 2023-2030.
Moreover, the rising spending in the construction industry is anticipated to support the growth of the small gas engines market. The construction industry heavily relies on equipment such as generators, pumps, compressors, and small construction machinery powered by small gas engines. As construction spending increases, there is a higher demand for these types of equipment, which drives the growth of the small gas engines market. According to Statista, in 2019, the construction industry spending globally was USD 12 trillion; in 2022 the spending reached USD 13.4 trillion and it is anticipated to reach USD 17.1 trillion by 2030. As a result, the rising construction spending is anticipated to support the market growth. Additionally, rise in innovation of efficient gas engines is anticipated to create the lucrative opportunity for the market. However, the increasing number of eco-friendly alternatives and environmental impact of the small gas engine stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Small Gas Engines Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 with largest market share owing to the presence of key market players, rising demand for lawnmowers, growing manufacture of snow blowers and rising export of trimmers. Whereas, the Asia Pacific region is expected to be a fastest growing region in the forecast period, owing to factors such as the rising investments in small gas engines, growing adoption of new technologies for advancement of small gas engines, rise in demand for construction equipment, supportive government policies and initiatives, and rising infrastructure activities.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable