Market Size of Small Gas Engine Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Small Gas Engines Market Analysis
The small gas engine market is expected to witness a CAGR of more than 4 % during the forecast period, 2022-2027. Due to the COVID-19 pandemic, the market studied witnessed a negative impact, owing to the subdued activities in the end-user industries. However, the market has been showing signs of recovery since early 2021, which was likely due to the economic rebound in the majority of the countries. Factors such as the increasing use of construction equipment powered by gas generators, the decline in natural gas prices, low environmental impact, and increasing flexibility and efficiency of gas-driven energy generation are expected to drive the small gas engine market demand during the forecast period. However, the cost of the small gas engine is likely to hamper the market. Consumers are buying cheap equipment from merchandisers or retailers at low prices. Such scenarios are pushing the Chinese products available at lower prices but are of low quality. This price war has forced manufacturers to a point where they have lost the ability to sell their engines at a premium.
- The growth of the construction activities surges the demand for outdoor power equipment, which is likely to dominate the small gas engine market due to the nominal maintenance costs and reduced product costs.
- Due to emission legislation, the major manufacturers are investing in new technical avenues, such as micro-hybridization engines, biofuels engines, etc., which are expected to provide opportunities for market growth.
- Asia-Pacific is expected to dominate the small gas engine market, with most of the demand coming from countries like China and India.
Small Gas Engines Industry Segmentation
The small gas engine market report includes:
| End User | |
| Gardening | |
| Industrial | |
| Construction |
| Geography | |
| North America | |
| Asia-Pacific | |
| Europe | |
| South America | |
| Middle-East and Africa |
Small Gas Engine Market Size Summary
The small gas engine market is poised for growth, driven by factors such as the increasing use of gas-powered construction equipment, declining natural gas prices, and the low environmental impact of gas-driven energy generation. Despite the initial negative impact of the COVID-19 pandemic, the market has shown signs of recovery, supported by economic rebounds in various countries. However, challenges such as the high cost of small gas engines and competition from low-quality, low-cost Chinese products continue to pose obstacles. The construction sector remains a significant end user, with the demand for outdoor power equipment expected to dominate due to its nominal maintenance costs and reduced product costs. Manufacturers are also exploring new technologies like micro-hybridization and biofuels engines to comply with emission regulations, presenting opportunities for market expansion.
The Asia-Pacific region is anticipated to lead the small gas engine market, with substantial demand from countries like China and India, driven by industrialization and urbanization. The region's focus on infrastructure development and clean energy policies, such as India's vision for a gas-based economy, is expected to boost the adoption of small gas engines. Additionally, the rise in smart and green building projects necessitates maintenance of outdoor spaces, further driving demand for outdoor-powered equipment. The market is moderately fragmented, with key players including Briggs & Stratton Corporation, Kohler Co., Honda Motor Co., Ltd., Yamaha Motor Corp., and Kubota Corporation. However, regulatory changes, such as California's move to phase out gas-powered small off-road engines, could impact market dynamics.
Small Gas Engine Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 End User
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2.1.1 Gardening
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2.1.2 Industrial
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2.1.3 Construction
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2.2 Geography
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2.2.1 North America
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2.2.2 Asia-Pacific
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2.2.3 Europe
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2.2.4 South America
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2.2.5 Middle-East and Africa
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Small Gas Engine Market Size FAQs
What is the current Small Gas Engine Market size?
The Small Gas Engine Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Small Gas Engine Market?
Briggs & Stratton Corporation, Kohler Co., Honda Motor Co., Ltd., Yamaha Motor Corp. and Kubota Corporation are the major companies operating in the Small Gas Engine Market.
