Small Gas Engine Market 2024 - By Demand, Leading Companies, Industry Insights, Future Opportunities And Forecast To 2033

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The Small Gas Engine by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Small Gas Engine , 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 growth in the historic period can be attributed to rise in outdoor power equipment demand, growing construction industry, residential lawn maintenance, agricultural applications.

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 growth in the forecast period can be attributed to rising demand for portable generators, focus on green and sustainable solutions, expansion of the construction sector, increasing adoption in emerging markets. Major trends in the forecast period include shift towards electric alternatives, smart technology integration, emphasis on lightweight and compact designs, eco-friendly solutions, innovations in fuel technology, diversification of applications.

The rise in the construction industry is driving the small gas engine market. Many builders and homeowners are buying outdoor powdered equipment for various building construction services, landscaping services, or maintaining lawns or gardens in their projects or homes. This demand for outdoor-powered equipment used in the construction industry is directly influencing the demand for small gas engines. According to the Global Construction 2030 report, the volume of construction output is expected to grow by 85% to $15.5 trillion by 2030. Major countries contributing to this growth are China, India, and the USA. This rise in the construction market is expected to drive the small gas engine market going forward.

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The small gas engine market covered in this report is segmented –

1) By Engine Displacement: 20 cc to 100 cc, 101 cc to 400 cc, 401 cc to 650 cc

2) By End-Use: Gardening, Industrial, Construction

3) By Equipment: Lawnmower, Chainsaw, String Trimmer, Hedge Trimmer, Portable Generator, Rotary Tiller, Pressure Washer, Concrete Vibrators, Concrete Screed, Edger, Leaf Blower, Snow Blower

Major companies operating in the small gas engine market are focused on developing innovating solutions, such as the New-Tech Small Turbine Engine Program, to increase their profitability in the market. The New-Tech Small Turbine Engine Program refers to an initiative or project aimed at the development and advancement of small turbine engines incorporating new and innovative technologies. The program aimed to address the specific needs of the military for unmanned aerial vehicles, reconnaissance aircraft, and other smaller platforms where compact, powerful, and reliable engines were crucial. For instance, in June 2023, Rolls-Royce, a UK-based engineering company known for its aerospace, defense, marine, and energy-related products and services, launched the New-Tech Small Turbine Engine Program. These engines are typically characterized by their size and application, often being used in smaller aircraft, drones, and other specialized vehicles or machinery. aimed at the development and advancement of small turbine engines incorporating new and innovative technologies. These engines are typically characterized by their size and application, often being used in smaller aircraft and drones, and are aimed at the development and advancement of small turbine engines incorporating new and innovative technologies.

The small gas engine market report table of contents includes: