Apr 01, 2020 (Heraldkeepers) -- Small Gas Engines Market Research Report- Forecast till 2025
The research report by Market Research Future (MRFR) emphasizes that the global small gas engine market 2020 is slated to secure a substantial market value of USD 3.41 billion by 2025 from USD USD 2.67 billion in 2019, at a moderate 4.14% CAGR over the review period.
Drivers and Restraints
The significant factors prompting the growth of the global small gas engines market are the expansion of the construction sector across the globe, the rising demand for outdoor power equipment rental, among others. The need for outdoor power equipment is projected to rise as demand for residential and commercial construction surges. Contractors and homeowners are progressively shifting towards renting outdoor power equipment due to lesser costs and minimal costs of maintenance. The demand for small gas engine products is growing as multiple car manufacturers are resolute in meeting stringent emissions norms, such as EURO 5, the ACEA agreement, and EURO 6. On the other hand, this downsizing phenomenon is setting up new technical opportunities, such as micro-hybridization and biofuels, which provide opportunities for market growth. Moreover, emissions legislation is the primary driver for engine downsizing and has, in turn, paved the way for the growth of technologies, such as engine boosting, gasoline direct injection (GDI), and homogeneous charge compression ignition (HCCI). Strict emission standards that are enforced in many countries have impelled vehicle manufacturers to downsize engines, which is propelled the growth of the market in the automotive industry. On the other hand, the surge in prices of small gas engines is likely to obstruct the market growth to some extent.
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The global small gas engines market has been analyzed based on equipment, engine displacement, and end-use. Based on equipment, the global small gas engines market has been segmented into a chainsaw, lawnmower, string trimmer, portable generator, hedge trimmer, rotary tiller, concrete screed, pressure washer, concrete vibrators, edger, leaf blower, snow blower, and others. The lawnmower segment is anticipated to lead the global market during the forecast period. This is because of their extensive usage in residential and commercial applications. On the basis of engine displacement, the global small gas engines market has been segmented into 101 cc to 400 cc, 20 cc to 100 cc, and 401 cc to 650 cc. The 101 cc to 400 cc segment leads the global market as the engines within this range are mostly used inland mowers that create high torque. On the basis of end-use, the global small gas engines market has been divided into gardening, construction, and industrial. The gardening segment is appraised to register a growth rate over the forecast period. The need for outdoor power equipment in landscaping services is a essential influencial factor for the growth of the gardening segment.
The geographical overview of the global small gas engines market has been analyzed in four major regions, namely the Asia Pacific, North America, Europe, and the rest of the world (including Latin America and the Middle East and Africa).
North America accounts for the significant share in the small gas engines market. The nations in North America, majorly the US and Canada, are comprehensively investing in the green buildings, which would, in turn, upsurge the need for gardens near buildings. Consequently, this would increase the demand for small gas engines in the region. The US is projected to be the significant and fastest market in the North America region owing to the highest number of construction projects being undertaken in the country. Moreover, the demand for small gas engines in Asia-Pacific and the Middle East is also anticipated to grow through the assessment period due to the growing construction and industrial end-use sectors in emerging economies such as China, India, and other South Asian countries.
The major market players identified by MRFR in the global small gas engines market are Honda Motor Co. (Japan), Briggs and Straton Corporation (US), Kohler Co, (US), Kawasaki Heavy Industries (Japan), Yamaha Motor Co. (Japan), Fuji Heavy Industries (Japan), Kubota Corporation (Japan), Fuzhou Launtop M&E Co., Ltd (China), Liquid Combustion Technology, LLC (US), Champion Power Equipment (US), Maruyama Mfg. Co., Inc. (Japan), and Lifan Power (US), and others.
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Global Small Gas Engines Market Research Report: Information, by Equipment (Lawn Mower, Chainsaw, String Trimmer, Hedge Trimmer, Portable Generator, Rotary Tiller, Pressure Washer, Concrete Vibrators, Concrete Screed, Edger, Leaf Blower, Snow Blower, and Others), by Engine Displacement (20 cc to 100 cc, 101 cc to 400 cc, and 401 cc to 600 cc), End-Use (Gardening, Construction, and Industrial), and Region (North America, Europe, Asia-Pacific, the Middle East & Africa, and South America)--Forecast till 2025