Small Gas Engines Market Worth $4.3 Billion by 2028, Growing at a CAGR of 5.4%: Report by MarketsandMarkets™
Chicago, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Small Gas Engines Market size is projected to grow from USD 3.3 billion in 2023 to USD 4.3 billion by 2028, at a CAGR of 5.4% according to a new report by MarketsandMarkets™. The maintenance of lawns in residential sector and commercial sector is helping the Small Gas Engines Market to grow.
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124 - Tables
43 - Figures
169 - Pages
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Scope of the Report
| Report Metric | Details |
| Small Gas Engines Market Size Values |
|
| Base Year | 2022 |
| Forecast Period | 2023–2028 |
| Forecast Unit | Value (USD Billion) |
| Segments Covered | Engine displacement, equipment and end-user |
| Geographic Regions Covered | Europe, Asia Pacific, North America, South America and Middle East & Africa |
| Companies Covered | Briggs & Stratton (US), Honda Motor Co., Ltd. (Japan), Kohler Co. (US), Kawasaki Heavy Industries, Ltd. (Japan), Yamaha Motor Corporation (Japan), KUBOTA Corporation, Liquid Combustion Technology, LLC (US), KIPOR (Japan), Champion Power Equipment (US), Fuzhou Launtop M&E Co., Ltd. (China), Loncin Holdings Co. (China), MARUYAMA MFg., Co.Inc. (Japan), Fujian Jinjiang Sanli Engine Co., Ltd. (China), MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan), CHONGQING RATO HOLDING (GROUP) CO., LTD. (China), Koki Holdings Co., Ltd. (Japan), Generac Power Systems, Inc. (US), Sinoquip Power (China), Lifan Power (US), Chongqing Winyou Power Co., Ltd. (China), Lombardini Srl (Italy) |
The Small Gas Engines Market is segmented by engine displacement into 20 cc–100 cc, 101 cc–400 cc and 401 cc–650 cc. 20 cc-100 cc will be the fastest growing segment and growth is attricbuted to a wide range of outdoor power equipment such as lawnmowers, hedge trimmers, blowers, and saws, which have engine displacement range from 20 cc–100 cc are used widely for the maintenance of lawns, golf courts, etc.
By equipment, the Small Gas Engines Market is segmented into lawnmowers, string trimmers, hedge trimmers, rotary tillers, edgers, leaf blowers, chainsaws, portable generators, concrete vibrators, concrete screeds, snow blowers and others. Lawn mowers attributed to the largest market share and increasing demand for mechanized lawnmowers to maintain the lawns is supporting the market for growth.
The Small Gas Engines Market is segmented by end-user into gardening, construction, industrial and others. Others include residential and commercial segment. Gardening segment held largest share and dominated the end-user market. It is because of the extensive maintenance of backyards of houses and sports fields.
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Asia Pacific is estimated to be the fastest growing market for Small Gas Engines industry during the forecast period. The region has been segmented by country into Australia, Japan, New Zealand, China, India and Rest of Asia Pacific. The dominance of the Asia Pacific region can be attributed due to increasing investments in the region to meet the demand of small gas engines in the construction activities.
Key Market Players
The leading players in the Small Gas Engines Companies include Briggs & Stratton (US), Honda Motor Co. (Japan), Yamaha Motor Corporation (Japan), Kohler Co. (US), Kawasaki Heavy Industries, Ltd. (Japan), MITSUBISHI HEAVY INDUSTRIES, LTD (Japan).
Recent Developments
- In January 2023, Briggs & Stratton, which is the largest producer of gasoline engines for outdoor power equipment, moved its engine component production to Auburn.
- In June 2022, MITSUBISHI HEAVY INDUSTRIES ENGINEERING, LTD. and Mitsubishi Heavy Industries Engine & Turbocharger, Ltd. (MHIET), the two group companies of MITSUBISHI HEAVY INDUSTRIES, Ltd. (MHI), began the demonstration testing of MHIENG's CO2 capture technology in MHIET's gas engine generating sets. The testing was an essential component of MHI Group's goal of reaching carbon neutrality through its "MISSION NET ZERO" initiative and would play a vital role in achieving decarbonization in any industry.
- In June 2022, Briggs & Stratton partnered with AWEV Solutions Pvt. Ltd., which is an innovative developer of mobility products & solutions. Briggs & Stratton provided its innovative conversions of internal combustion engine vehicles to electric power.
- In April 2021, Alliant Energy partnered with Kohler Co. to develop a 2.25 MW ground-mounted solar system on Kohler's headquarters property in Kohler, Wisconsin. The sustainable energy cooperation will serve 580 houses with clean energy each year. The Kohler Solar Field was scheduled to be completed by the end of 2021.
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