Pune, India, Feb. 25, 2022 (GLOBE NEWSWIRE) -- The global Small Gas Engine Market size was USD 2.31 billion in 2020. The market is expected to grow from USD 2.43 billion in 2021 to USD 3.58 billion in 2028 at a growth rate of 5.7% in the 2021-2028 period. This information is provided by Fortune Business Insights™, in its report titled, “Small Gas Engine Market, 2021-2028.”
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According to our researchers, governments throughout numerous nations have imposed stringent guidelines to decline harmful emissions and small gas engines are compliant with such policies. Therefore, this factor is expected to fuel the small gas engine market growth during the forecast period.
Prominent Players Covered in the Report are:
- Briggs & Stratton Corporation (U.S.)
- Kohler Co. (U.S.)
- Yamaha Motor Corp. (Japan)
- Kawasaki Heavy Industries (Japan)
- Kubota Corporation (Japan)
- Liquid Combustion Technology (U.S.)
- Kipor Power (China)
- Champion Power Equipment (U.S.)
- Sabaru Industrial Power Products (U.S)
- Lifan Power (U.S.)
- Maruyama Mfg. Co. Inc (Japan)
- Honda Motor Co., Ltd. (Japan)
COVID-19 Impact
COVID-19 Pandemic Majorly Impacts Power Projects
The COVID-19 pandemic has been spread in over 190 countries across the globe. The pandemic has influenced various business sectors such as power generation, manufacturing, oil & gas, mining, automotive, construction, and others. Governments in several countries had to inflict national lockdowns and various limitations owing to the outbreak of a pandemic. These constraints had adverse effects on economics.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/small-gas-engines-market-104000
Segments
Gardening Segment to Dominate Market in 2021-2028 Period
On the basis of type, the market is segregated into 20-100 CC, 101-450 CC, and 451-650 CC.
By equipment, the market is classified into a lawnmower, chainsaw, leaf blower, portable generator, pressure washer, and others.
In terms of application, the market is categorized into construction, industrial, and gardening. The gardening segment is likely to dominate the market during the forecast period.
Geographically, the global market has been branched across five main regions, including North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Report Scope and Segmentation-
| Report Coverage | Details |
| Forecast Period | 2021to 2028 |
| Forecast Period 2020 to 2028 CAGR | 5.7% |
| 2028 Value Projection | USD 3.58 billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 2.31 billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 180 |
| Segments covered | By Type, By Equipment, By Application, By Region |
| Growth Drivers | Rising Demand for Outdoor Power Equipment to Augment Growth |
| Rising Need to Reduce Emission to Propel Market Growth | |
| Pitfalls & Challenges | High Cost of Product May Hinder Market Growth |
Report Coverage
We conduct our reports that are based on a rounded review approach that primarily concentrates on presenting accurate information. Our experts have applied a data navigation technique that further assists us to offer reliable estimations and test the general market dynamics precisely. Further, our analysts have gained admission to various international as well as regional funded registers for offering up-to-date material so that the shareholders and entrepreneurs make their investments only in successful areas.
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Driving Factors
Growing Demand for Outdoor Power Equipment to Empower Growth
The demand for small gas engines is majorly rising in the world backed by the thriving commercial as well as the residential markets. Construction workers and homeowners are moving from conventional techniques to renting outdoor power equipment. The leasing of such equipment costs lesser and are cost-effective to preserve. Such equipment needs low power and lower torque, and thus is largely used with small engines that primarily work on natural gas to release lower GHG emissions. The increased adoption of small gas engines spurs the global market.
Regional Insights
North America to Lead Stoked by Augmented Renting of Garden Tools & Equipment
North America dominated the global market in 2020 and held the largest small gas engine market share. The construction and industrial segments are witnessing augmented growth. The trend for renting equipment is surging in such sectors in North America.
Asia Pacific is anticipated to grow at a considerable CAGR during the forecast period. The demand for progressive technology equipment is greatly rising in this region.
Europe is expected to surge remarkably during the forecast period backed by the growing demand from numerous segments such as gardening, construction, and industrial sectors.
Competitive Landscape
Groundbreaking Product Launches by Prime Players to Foster Market Growth
The fundamental players implement manifold notions to hike their position in the market as prominent companies. One such key strategy is procuring companies to boost the brand value among users. Another pivotal strategy is intermittently launching groundbreaking products with a meticulous study of the market and its target audience.
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Industry Development
August 2019- Honda introduced the HRN216 series of lawnmowers that has been designed from the ground up replacing the old HRN series. This HRN series will be powered by new Honda GCV170 engine that consists of improved benefits in power and torque output, reliability, easy maintenance.
Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Small Gas Engine Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Small Gas Engine Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- 20-100 CC
- 101-450 CC
- 451-650 CC
- Market Analysis, Insights and Forecast – By Equipment
- Lawn Mower
- Chainsaw
- Leaf Blower
- Portable Generator
- Pressure Washer
- Others
- Market Analysis, Insights and Forecast – By Application
- Construction
- Industrial
- Gardening
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Small Gas Engine Market Analysis (USD Billion), Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- 20-100 CC
- 101-450 CC
- 451-650 CC
- Market Analysis, Insights and Forecast – By Equipment
- Lawn Mower
- Chainsaw
- Leaf Blower
- Portable Generator
- Pressure Washer
- Others
- Market Analysis, Insights and Forecast – By Application
- Construction
- Industrial
- Gardening
- Market Analysis, Insights and Forecast – By Country
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