Market Overview
The global Small Gas Engines Market is expected to rise to USD 4 billion during the forecast period 2022-2028. The market is anticipated to maintain a Compound Annual Growth Rate (CAGR) of 4.2% by 2028.
Small gas engines are widely used for different types of outdoor equipment such as string trimmers, hedge trimmers, chainsaws, concrete vibrators, snowblowers, leaf blowers, lawnmowers, pressure washers, portable generators, and others.
The rise in the commercial and residential construction sectors and increasing demand for land mowers and other garden equipment will help in the consistent growth of the Small Gas Engines Market across the globe.
There is a continuous demand for outdoor power equipment as they are widely used to cut, trim, and maintain lawns and gardens such as sports fields, golf courses, and public parks.
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During the COVID-19 outbreak, the global Small Gas Engines Market Growth was affected negatively but over the last some months, the market has started reviving and is expected to grow well within the forecast period.
Market Segmentation
The global Small Gas Engines Market Size is huge and it is segmented based on engine type, equipment, application, and region.
Based on engine type, the Small Gas Engines Market is divided into under 200 cc, 200-400 cc, and 400-640 cc sectors. The market study indicates that the 200-400 cc sector is expected to hold the maximum market share during the forecast period.
Based on application, the market is further divided into gardening, construction, and industrial. The gardening and construction sectors are expected to grow substantially in the coming years.
Based on equipment, the market of small gas engines is further segmented into chainsaw, land mowers, portable generators, string trimmers, hedge trimmers, smart gas meters, smart water meters, and others.
Regional Classification
The regions into which the Small Gas Engines Market is divided are North America, South America, Asia Pacific, Europe, and the Middle East & Africa.
The largest Small Gas Engines Market Share is dominated by the North American region. Owing to the consistent growth in the rental and construction of outdoor power equipment in this region, the market is expected to witness steady growth in the coming years. The increasing demand for landscaping services in the commercial, as well as residential sectors, has spiked the surge for small gas engines in this region, especially in the US and Canada.
The growing construction and industrial sectors will create growth opportunities for the Small Gas Engines Market in the Asia Pacific and the Middle East & Africa regions during the forecast period.
Key Players
Key players profiled in the global small gas engines market report include Briggs and Straton Corporation (US), Honda Motor Co. (Japan), Kohler Co, (US), Kawasaki Heavy Industries (Japan), Fuji Heavy Industries (Japan), Yamaha Motor Co. (Japan), Kubota Corporation (Japan), Liquid Combustion Technology, LLC (US), Champion Power Equipment (US), Fuzhou Launtop M&E Co., Ltd (China), Maruyama Mfg. Co., Inc. (Japan), and Lifan Power (US).
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Industry News
Owing to the presence of global and regional key players, the Small Gas Engines Market is highly competitive. To sustain a high market position and occupy a major share of the market, Small Gas Engines Market Key Players are adopting strategies like mergers, partnerships, acquisitions, collaborations, etc. The key players also look forward to innovative products so they make huge investments in research and development. The key players in this market are Honda Motor Co Ltd, Yamaha Motor Corporation, Champion Power Equipment, Kohler Co, Briggs and Stratton Corporation, and others.
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