PUBLISHER: The Business Research Company | PRODUCT CODE: 1392898
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392898
“Small Gas Engine Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on small gas engine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for small gas engine? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The small gas engine market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Small gas engines are compact, low-powered internal combustion engines fueled by gasoline and capable of running on gases like coal gas, producer gas, biogas, landfill gas, or natural gas.
These engines come in main displacements of 20 ccs to 100 ccs, 101 ccs to 400 cc, and 401 ccs to 650 ccs. The 20 cc to 100 cc category comprises engines operating within a volume range of 20 cubic centimeters to 100 cubic centimeters. Small gas engines find primary applications in gardening, industrial, and construction contexts, powering various equipment including lawnmowers, chainsaws, string trimmers, hedge trimmers, portable generators, rotary tillers, pressure washers, concrete vibrators, concrete screeds, edgers, leaf blowers, and snow blowers.
The small gas engine market research report is one of a series of new reports from The Business Research Company that provides small gas engine market statistics, including small gas engine industry global market size, regional shares, competitors with market share, detailed small gas engine market segments, market trends and opportunities, and any further data you may need to thrive in the small gas engine industry. This small gas engine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The small gas engine market size has grown steadily in recent years. It will grow from $2. 84 billion in 2023 to $2. 98 billion in 2024 at a compound annual growth rate (CAGR) of 4. 8%. The expansion observed in the historical period can be attributed to an increase in demand for outdoor power equipment, the burgeoning construction industry, the need for residential lawn maintenance, and the application of these factors in agriculture.
The small gas engine market size is expected to see steady growth in the next few years. It will grow to $3. 56 billion in 2028 at a compound annual growth rate (CAGR) of 4. 6%. The anticipated growth in the forecast period is linked to an increasing demand for portable generators, a focus on green and sustainable solutions, the expansion of the construction sector, and a rising adoption in emerging markets. Key trends expected in the forecast period involve a shift towards electric alternatives, the integration of smart technology, an emphasis on lightweight and compact designs, the promotion of eco-friendly solutions, innovations in fuel technology, and the diversification of applications.
The upswing in the construction industry is a driving force behind the growth of the small gas engine market. The surge in demand for outdoor power equipment for diverse construction services, landscaping, and property maintenance is directly impacting the need for small gas engines. Builders and homeowners are increasingly acquiring these outdoor-powered tools for projects such as building construction, landscaping services, or maintaining lawns and gardens. Projections from the Global Construction 2030 report indicate an anticipated 85% growth in construction output volume, reaching $15. 5 trillion by 2030, with major contributions from countries like China, India, and the USA. This robust growth in the construction sector is expected to propel the small gas engine market.
The escalating demand within the landscaping and gardening industries is anticipated to be a key driver for the small gas engine market. The landscaping and gardening sector encompasses various activities related to outdoor space design, installation, and maintenance, catering to residential gardens, parks, commercial landscapes, and public green spaces. Crucial tools in this industry, such as lawn mowers and trimmers, are powered by small gas engines, significantly influencing the demand for these engines. Moreover, small gas engines find applications in leaf blowers and garden vacuums, essential for maintaining well-kept outdoor spaces. For example, Cladcoa, a US-based company specializing in roofing and cladding materials, reported that in the UK, around 27 million individuals, or 42% of the population, consider gardening a hobby. The demand for small gas engines is further fueled by the significant spending in the UK landscaping and gardening industry, reaching £7. 6 billion ($9. 26 billion) in 2021.
Leading companies in the small gas engine market are actively engaged in developing innovative solutions to enhance their market presence. Initiatives such as the New-Tech Small Turbine Engine Program focus on advancing small turbine engines with new technologies to meet the specific requirements of the military, particularly for unmanned aerial vehicles and reconnaissance aircraft. Rolls-Royce, a UK-based engineering company, launched this program in June 2023, aiming to provide compact, powerful, and reliable engines for smaller platforms.
Major companies in the small gas engine market are committed to innovating new technologies, as exemplified by the Vanguard 400 series engines. These engines, like the Vanguard 400 Propane Engine launched by Briggs & Stratton in October 2021, are designed to deliver dependable power for various commercial and industrial equipment. Known for durability and efficiency, these engines find applications in construction, agriculture, and professional landscaping. The Vanguard 400 series engines are recognized for their ability to handle heavy-duty tasks across different fields.
In April 2021, Northern Tool + Equipment Co., a US-based tool retail company, acquired Jack's Small Engines, a family-owned small engine parts and outdoor power equipment parts company. This acquisition enhances Northern Tool + Equipment Co. 's capabilities in tools, equipment, engines, and maintenance services, consolidating its position in the market.
Major companies operating in the in the small gas engine market report are Briggs and Stratton Corporation, Kohler Co., Honda Motor Co. Ltd, Yamaha Motor Corp., Kawasaki Heavy Industries, Kubota Corporation, Kipor Power, Champion Power Equipment, Generac Power Systems Inc., Fuji Heavy Industries Ltd., Fuzhou Launtop M&E Co. Ltd., Liquid Combustion Technology LLC, Lifan Power USA, Zongshen Power, Subaru Corporation, Sinoquip Power, Chongqing Winyou Power Co. Ltd., Lombardini Srl, Wuxi Kipor Power Co. Ltd., Jiangsu Excalibur Power Machinery Co. Ltd., Changzhou ETK Power Machinery Co. Ltd., Taizhou Genour Power Machinery Co. Ltd., Tecumseh Products Company, Robin America Inc., Mitsubishi Heavy Industries Engine & Turbocharger Ltd., Loncin Industries Ltd., Koki Holdings Co. Ltd., SAE Manufacturing Specialties Corp., Triton Duro Power Systems Inc., Performance Assembly Solutions, Central Diesel Inc., Sage Parts
North America was the largest region in the small gas engine market in 2023. The regions covered in the small gas engine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the small gas engine market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The small gas engine market consists of sales of 2-stroke and 4-stroke engine. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.