Small Engine Market Report 2023, Industry Trends, Share, Size, Demand and Future Scope

The Global Small Engine Market has witnessed steady growth in recent years, driven by a combination of technological advancements, increasing demand for portable power sources, and a surge in outdoor recreational activities. As we delve into the dynamics of this burgeoning industry, we uncover key insights into market size, growth projections, segmentation, drivers, challenges, and the latest trends shaping the landscape.

In 2022, the global small engine market boasted a valuation of US$ 6.9 billion. The market is poised for further expansion, with an estimated Compound Annual Growth Rate (CAGR) of 4.6% anticipated from 2023 to 2031. By the end of the forecast period, the market is projected to reach an impressive US$ 10.3 billion.

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Companies Profiled
• Briggs & Stratton
• Honda Motor Co., Ltd.
• Kawasaki Heavy Industries, Ltd.
• Kohler
• Yamaha Motor Co., Ltd
• Lifan Power USA
• Kubota Corporation
• Mitsubishi Heavy Industries Ltd.
• Tillotson

Market Size and Growth
The growth of the small engine market is attributed to several factors, including:
• Rising demand for outdoor power equipment: Increasing urbanization and disposable incomes are leading to a growing demand for outdoor power equipment such as lawnmowers, leaf blowers, and chainsaws, which are powered by small engines.
• Expansion of the landscaping industry: The professional landscaping industry is expanding globally, creating a need for reliable and efficient small engines for various landscaping tasks.
• Focus on sustainability: Manufacturers are increasingly developing eco-friendly small engines with lower emissions and improved fuel efficiency to cater to growing environmental concerns.
• Rise of e-commerce: The growth of online retail platforms is making it easier for consumers to purchase small engines and equipment, further boosting market demand.

Market Development Challenges
While the small engine market presents lucrative opportunities, it is not without its challenges. Stringent emission regulations, coupled with the need for sustainable and eco-friendly solutions, pose significant hurdles for industry players. Navigating these challenges requires innovative approaches to ensure compliance and maintain market competitiveness.

Regional Outlook
According to small engine market insights, Asia Pacific dominates the global landscape owing to the rise in number of public parks and botanical gardens in the region. Expansion in the agriculture sector is also augmenting market dynamics of Asia Pacific.
As per small engine market forecast, high demand for snow blowers in North America and Europe is projected to drive the industry in these regions. Both these regions experience heavy snow. Snow blowers, which are powered by small engines, are used extensively in these regions to remove snow.

Key Developments
• On November 23, 2022, Kohler launched its new range of small diesel engines. These engines are available in naturally aspirated and turbocharged air cooling versions that comply with EU and U.S exhaust emission standards and the emission norms in India, China, Japan, and Korea.
• On September 26, 2022, Kubota Corporation launched D1105-K electronically controlled small diesel engines to meet the European, American, and Chinese emission regulations. They eliminate carbon emissions that generally occur while starting and accelerating the engine.

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Market Segmentation
Energy Resource
• Liquid Filling Petrol
• Diesel
• Compressed Natural Gas (CNG)
• Liquid Petroleum Gas
• Others (Kerosene, etc.)

End-use
• Lawn Mower
• Snow Blower
• Garden Tiller
• Chainsaw
• Go Cart
• Pressure Washer
• Water Pump
• Others (Weed Trimmer, etc.)

Type of Engine
• Internal Petrol Combustion
• Internal Diesel Combustion
• Compressed Natural Gas Engine
• Hybrid Engine
• Others (Liquefied Petroleum Gas Engine, etc.)

Engine Displacement
• Up to 100 CC
• 100 CC to 200 CC
• 200 CC to 400 CC
• Above 400 CC

Application
• Residential
• Industrial
• Commercial
• Recreational Park
• Educational Institution
• Hotel
• Office Complex
• Others (Hospital, etc.)

Regions Covered
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America

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About Us Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

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