img

Small Engine Market Size - By Engine Type (Vertical and Horizontal), By Energy Resources, By Engine Displacement, By Application, (Lawn Mower, Snow Blower, Garden Tiller, Chain Saw, Go Cart, Pressure Washer, Water Pump), By Distribution Channel, & Forecast, 2024 – 2032


Published on: 2024-07-30 | No of Pages : 240 | Industry : Industrial-Machinery

Publisher : MIR | Format : PDF&Excel

Small Engine Market Size - By Engine Type (Vertical and Horizontal), By Energy Resources, By Engine Displacement, By Application, (Lawn Mower, Snow Blower, Garden Tiller, Chain Saw, Go Cart, Pressure Washer, Water Pump), By Distribution Channel, & Forecast, 2024 – 2032

Small Engine Market Size

Small Engine Market size was valued at USD 8 billion in 2023 and is estimated to expand at 5.2% CAGR from 2024 to 2032. The major factor attributed to drive the market is the outdoor power equipment demand, growth in construction and infrastructure development, and growth in home gardening culture.

To get key market trends

  Download Free Sample

As construction activities and infrastructure development continue to surge globally, the demand for small engines in construction equipment such as compactors, concrete mixers, and generators is on the rise. Small engines power essential machinery utilized in various construction applications, contributing to increased sales for manufacturers. The expansion of construction and infrastructure projects necessitates efficient, reliable, and compact power solutions, positioning small engines as crucial components supporting the industry's growth.

 

Small Engine Market Report Attributes
Report Attribute Details
Base Year 2023
Small Engine Market Size in 2023 USD 8 Billion
Forecast Period 2024 to 2032
Forecast Period 2024 to 2032 CAGR 5.2%
2032 Value Projection USD 12 Billion
Historical Data for 2018 to 2032
No. of Pages 150
Tables, Charts & Figures 279
Segments covered Engine Type, Energy Resource, Engine Displacement, Application, and Distribution Channel
Growth Drivers
  • Outdoor Power Equipment Demand
  • Growth in Construction and Infrastructure Development
  • Growth in Agriculture and Gardening
Pitfalls & Challenges
  • Inefficient supply chain
  • Lack of marketing and branding of small engine

What are the growth opportunities in this market?

 Download Free Sample

Small Engine Market Trends

A notable market trend in the small engine industry is the increasing integration of smart technologies and digital solutions. Small engine manufacturers are incorporating digital advancements such as electronic controls, sensors, and connectivity features into their products. This trend aligns with the broader industry shift towards automation, remote monitoring, and data-driven insights. Smart small engines offer benefits such as improved performance optimization, real-time diagnostics, and enhanced fuel efficiency. As Applications seek more sophisticated and connected solutions, the integration of smart technologies is becoming a distinguishing factor for manufacturers in the competitive market.

Small Engine Market Analysis

Learn more about the key segments shaping this market

 Download Free Sample

Based on engine type, the horizontal engines type segment held over 52.3% of the market share in 2023, due to their versatility and widespread applications. Horizontal engines are favoured for their adaptability in various equipment such as lawnmowers, generators, and pressure washers. Their design allows for easy integration into a wide range of machinery, contributing to their dominance in the market.

Learn more about the key segments shaping this market

 Download Free Sample

Based on energy resources, the diesel segment accounted for 36% of the small engine market share in 2023, reflecting its widespread use in various small engine applications, particularly in industrial and heavy-duty equipment. However, gas and electricity are poised to experience the fastest growth rate. This growth can be attributed to the increasing focus on cleaner and more environmentally friendly fuel options.

LPG is gaining popularity due to its lower emissions compared to traditional fuels, making it an attractive choice for small engines in applications where environmental considerations are paramount. The rising awareness of sustainable energy resources and the push for cleaner alternatives contribute to the anticipated growth of LPG in the market.

Looking for region specific data?

 Download Free Sample

The U.S. holds a prominent position as the leading market for small engines in North America for several reasons. Firstly, the U.S. has a well-established and robust manufacturing sector that produces a wide range of products requiring small engines, such as lawn and garden equipment, power tools, and portable generators. The country's strong industrial base and technological capabilities contribute to the production and consumption of small engines across various applications.

However, Asia Pacific is experiencing the fastest CAGR of 6.4% in the small engine market. Firstly, the region is undergoing rapid industrialization and urbanization, leading to increased demand for small engines in construction equipment, power tools, and other industrial applications. The burgeoning construction and infrastructure development projects in countries like China and India drive the need for compact and efficient small engines.

Small Engine Market Share

The global small engine industry is highly fragmented owing to the presence of several market players. Major companies operating in the market are Briggs, Honda, Yamaha, accounting over 36% revenue share in the year 2023. The major companies are focusing on mergers & acquisitions, facility expansion, and strategic partnerships to expand their product offerings, customer reach, and enhance market presence. Companies are also focusing on acquisition strategy.

Government support to boost the adoption of high efficient sustainable engines and the geographical expansion of key players are anticipated to intensify the market competition over the forecast timeframe. An acquisition strategy enables a company to enter new markets and product lines instantaneously with a recognized brand having a good reputation and an existing client base. An acquisition can overcome market entry barriers that were previously challenging.

Small Engine Market Companies

Major companies operating in the small engine industry include

  • Briggs & Stratton
  • Honda Motors Co. Ltd
  • Yamaha

Small Engine Industry News

  • In May 2022, Briggs & Stratton, a leading manufacturer of small engines, announced that it will exit the manufacturing of small engines for lawn and garden equipment by 2024. The company will instead focus on the development and production of battery-powered products.
     
  • In January 2023, Briggs & Stratton launched a new line of battery-powered lawn and garden equipment, including lawnmowers, string trimmers, and hedge trimmers. The new products are designed to be powerful, durable, and easy to use.

The small engine market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion & Million Units from 2018 to 2032, for the following segments

Click here to Buy Section of this Report

 

 

Market, By Engine Type, (USD Billion; Million Units)

 

  • Vertical
  • Horizontal

Market, By Energy Resources, (USD Billion; Million Units)

  • Gasoline
  • Diesel
  • Gas
  • Electricity

Market, By Engine Displacement, (USD Billion; Million Units)

  • Up to 100CC
  • 100 CC to 250 CC
  • 250 CC to 550 CC

Market, By Application, (USD Billion; Million Units)

  • Lawn Mower
  • Snow Blower
  • Garden Tiller
  • Chain Saw
  • Go Cart
  • Pressure Washer
  • Water Pump
  • Others (Weed Trimmer etc.)

Market, By Distribution Channel, (USD Billion; Million Units)

  • Online
  • Offline
    • Direct Sales
    • Indirect Sales

The above information is provided for the following regions and countries in Revenue and Volume

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Indonesia
  • South America
    • Brazil
    • Mexico
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa

 

Table of Content

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )