Increase in demand for outdoor power equipment with low-emission power drives the growth of the global small gas engines market.

PORTLAND, OREGON, UNITED STATES, September 7, 2022 /EINPresswire.com/ -- Global Small Gas Engine Market by Engine Displacement (20-100CC, 101-450CC, and 451-650CC), by Equipment (Lawnmower, Chainsaw, Portable Generator, Pressure Washer, Trimmer, Edger, and Others), by Application (Gardening, Industrial, Construction, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030."As per the report, the global small gas engine industry was accounted for $2.7 billion in 2020, and is expected to reach $4.0 billion by 2030, growing at a CAGR of 4.2% from 2021 to 2030.

Increase in demand for outdoor power equipment with low-emission power and advent of special gas engines and remote generation applications in several sectors drive the growth of the global small gas engine market. On the other hand, uncertainties in international fossil fuel prices impede the growth to some extent. However, innovations in efficient gas engines are expected to create lucrative opportunities in the industry.

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Rapid surge in industrialization and shift of individuals from rural areas to urban cities lead to increase in the construction of residential and commercial buildings. In the U.S. according to the commerce department, construction spending increased by 1.3% in public projects. Rapid urbanization in Asia-Pacific boosts the growth of the construction sector in developing countries such as China, India, and other South Asia countries. This has a positive impact on the small gas engine market.

According to the India Brand Equity Foundation, India needs investment worth $777.73 billion in infrastructure by 2022, along with the increasing foreign investors in the country. This is anticipated to create opportunities for the growth of the small gas engine market. In the presence of factors such as nominal maintenance costs and reduced product costs, outdoor power equipment is expected to be frequently rented and gain a lot of attention from homeowners and contractors. Increase in co-operation and acquisition of companies such as Yamaha Motors acquired Subaru Industrial Power Products to expand its outdoor power segment is anticipated to foster the growth of the small gas engine market.

Rapid innovation and investment of new entrants to develop alternative power sources for small gas engines and uncertainties in the international fossil fuel prices have a negative impact on the development of the market. The stringent regulation of the government to the manufacturer to follow the guidelines has led to the additional investment of the manufacturer to manufacture the products. The increase in awareness among the people regarding the environmental impact of the application of natural gas-related products is anticipated to hamper the development of the small gas engine market. The small gas engine market is segmented on the basis of engine displacement, equipment, application, and region.

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Based on application, the gardening segment held the major share in 2020, generating nearly half of the global small gas engine market. Interest of people toward horticulture and other types of gardening foster the growth of the segment. The industrial segment, on the other hand, is projected to cite the fastest CAGR of 4.7% during the forecast period.

The major companies profiled in this report include Briggs and Stratton Corporation, Champion Power Equipment, Kohler Co., Liquid Combustion Technology, Kipor Power, Kawasaki Heavy Industries, Honda Motor Co., Ltd, Fuji Heavy Industries, Yamaha Motor Corporation, and Kubota Corporation. Rapid urbanization and surge in the construction activities across the globe lead to rise in demand for power tools with various applications, which in turn fuels the demand for small gas engine. Additional growth strategies such as expansion of production capacities, acquisition, and partnership in the development of the innovative products from manufacturers have helped to attain key developments in the global small gas engine market trends.

Key findings of the study
• By region, the North America small gas engines market accounted for the largest small gas engines market share in 2020.
• As per small gas engines market analysis, by engine displacement, the 101-450cc segment accounted for the largest small gas engines market share in 2020.
• On the basis of application, the gardening segment accounted for the largest market share in 2020.
• On the basis of equipment, lawnmover segment accounted for the largest market share in 2020.

Swapnil Jadhav
Allied Analytics LLP
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