PUBLISHER: Acute Market Reports | PRODUCT CODE: 1615282
PUBLISHER: Acute Market Reports | PRODUCT CODE: 1615282
The small engine market refers to the market that deals with engines typically used in equipment like lawnmowers, snow blowers, and garden tillers. These engines are distinct from those found in cars or trucks, being less complex and typically having a horsepower rating under 50. The diverse application of these engines in a variety of household and industrial tools has seen this market undergo significant changes in recent times. The small engine market is estimated to grow at a CAGR of 4.4% from 2024 to 2032, driven by environmental regulations and emission standards.
Driver: Environmental Regulations and Emission Standards
Governments worldwide have intensified their efforts in curbing emissions and promoting environmental sustainability. This has led to stricter emission standards for small engines, pushing manufacturers to innovate and design engines that are fuel-efficient and produce fewer emissions. The Clean Air Act in the U.S., for instance, has set definitive guidelines for engine manufacturers in the past. As a result, many producers have transitioned to four-stroke engines over the conventional two-stroke ones. Four-stroke engines, being inherently more fuel-efficient and producing fewer pollutants, have seen a spike in adoption. Additionally, the push towards eco-friendly alternatives has fueled the growth of battery-operated and electrically powered equipment, challenging the traditional dominance of gasoline-powered tools. This paradigm shift is supported by the rising consumer awareness about environmental conservation and a willingness to invest in sustainable technologies.
Opportunity: Expansion into Developing Markets
Emerging economies present a lucrative opportunity for the small engine market. As the middle class in these countries continues to grow, so does the demand for quality household equipment. Countries like India and China, with their vast consumer base and increasing purchasing power, have shown a growing interest in garden equipment, recreational vehicles, and other tools powered by small engines. Infrastructure projects, coupled with urbanization trends in these nations, further support the market expansion. For instance, the growth of green spaces, parks, and recreational areas in urban settings creates a demand for landscaping tools and equipment, driving the need for efficient small engines.
Restraint: Electrification and Battery-Powered Tools
The advent of electric and battery-powered tools poses a significant restraint to the traditional small engine market. Electrically powered equipment offers numerous advantages, such as reduced emissions, lesser noise, and lower maintenance costs. In 2023, several companies introduced innovative battery-operated equipment, capitalizing on the growing consumer preference for eco-friendly tools. The trend towards urban gardening, for instance, favors quieter, electrically operated devices, thereby curtailing the growth potential of gasoline-powered tools.
Challenge: Supply Chain Disruptions
In recent times, global supply chain disruptions, exacerbated by events like the COVID-19 pandemic, have posed challenges to the small engine market. Manufacturers faced difficulties in sourcing vital components, leading to production halts and delivery delays. Such disruptions impact the profitability of players in the sector and can influence price fluctuations, impacting the end consumers.
Energy Resource Insights
In 2023, engines powered by petrol or gasoline dominated the market in terms of revenue. Their prevalence is attributed to the historically widespread adoption of gasoline engines in various machinery and equipment due to their power output, easy availability, and established infrastructure. However, rising fuel prices and growing environmental concerns have shifted the focus towards more sustainable alternatives.
Diesel engines, while popular in certain sectors, are expected to see a decline given their emission profiles, especially in regions with stricter emission norms. Compressed Natural Gas (CNG) and Liquid Petroleum Gas (LPG) engines, on the other hand, offer a cleaner combustion process. With governments offering incentives and promoting the use of cleaner fuels, the adoption of CNG and LPG engines is expected to surge between 2024 and 2032, showcasing the highest CAGR.
Other fuels like kerosene remain in the fringes, with limited applications due to their environmental implications and less efficient combustion.
End-use Insights
The lawn mower segment held a commanding share in 2023, underlined by the ubiquity of gardens and green spaces in both urban and suburban settings across the globe. The demand for lawnmowers is consistent, with residential, commercial, and public sectors all requiring their services.
Snow blowers, predominantly used in regions with heavy snowfall, contributed significantly to revenues in 2023, but their usage is geographically limited. Garden tillers, essential for agriculture and large-scale gardening, have seen consistent demand, especially from developing nations that heavily rely on agriculture.
Chainsaws and go-carts, while popular, have niche applications. The former is primarily used in forestry and the latter in recreational activities. The rising DIY trend boosted the sales of chainsaws in 2023.
Pressure washers, which are versatile cleaning tools, are expected to see rapid growth between 2024 to 2032, driven by the increased demand in both residential and industrial settings.
Water pumps, vital for agriculture, household, and industrial use, maintain a steady demand. However, innovations in this sector, such as solar-powered pumps, could shift the dynamics in the coming years. Lastly, other tools like weed trimmers are gaining traction, especially in urban settings where manicured gardens and landscapes are a trend.
Regional Insights
North America, in 2023, held the lion's share of the market revenue, driven by the widespread adoption of garden and household equipment. However, Asia-Pacific is forecasted to showcase the highest CAGR from 2024 to 2032, largely due to rapid urbanization and increased consumer spending in countries like China and India.
Competitive Trends
The small engine market is characterized by intense competition with players like Briggs & Stratton, Honda, Kawasaki, Kohler, Yamaha Motor Co., Ltd, Lifan Power USA, Kubota Corporation, Mitsubishi Heavy Industries Ltd, Tillotson, Kubota and Others leading the charge. In 2023, these companies heavily invested in R&D to produce efficient and eco-friendly engines. Strategic partnerships and mergers were also a common trend, as companies aimed to expand their market reach and diversify their product portfolios. As we look ahead from 2024 to 2032, players are expected to emphasize innovation, targeting the growing demand for sustainable and electric-powered tools.
Historical & Forecast Period
This study report represents an analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends & technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. The key data points that enable the estimation of Small Engine market are as follows:
Research and development budgets of manufacturers and government spending
Revenues of key companies in the market segment
Number of end users & consumption volume, price, and value.
Geographical revenues generated by countries considered in the report
Micro and macro environment factors that are currently influencing the Small Engine market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top-down and bottom-up approach for validation of market estimation assures logical, methodical, and mathematical consistency of the quantitative data.
Market Segmentation
Energy Resource
End-Use
Type of Engine
Engine Displacement
100 CC to 200 CC
200 CC to 400 CC
Application
Distribution Channel
Region Segment (2022-2032; US$ Million)
North America
U.S.
Canada
Rest of North America
UK and European Union
UK
Germany
Spain
Italy
France
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
GCC
Africa
Rest of Middle East and Africa
Key questions answered in this report
What are the key micro and macro environmental factors that are impacting the growth of Small Engine market?
What are the key investment pockets concerning product segments and geographies currently and during the forecast period?
Estimated forecast and market projections up to 2032.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment holds a larger market share and why?
Are low and middle-income economies investing in the Small Engine market?
Which is the largest regional market for Small Engine market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Which are the key trends driving Small Engine market growth?
Who are the key competitors and what are their key strategies to enhance their market presence in the Small Engine market worldwide?
TABLE 7 Global Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 9 North America Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 15 North America Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 17 U.S. Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 23 U.S. Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 25 Canada Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 31 Canada Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 33 Rest of North America Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 39 Rest of North America Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 41 UK and European Union Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 47 UK and European Union Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 49 UK Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 55 UK Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 57 Germany Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 63 Germany Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 65 Spain Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 71 Spain Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 73 Italy Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 79 Italy Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 81 France Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 87 France Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 89 Rest of Europe Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 95 Rest of Europe Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 97 Asia Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 103 Asia Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 105 China Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 111 China Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 113 Japan Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 119 Japan Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 121 India Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 127 India Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 129 Australia Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 135 Australia Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 137 South Korea Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 143 South Korea Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 145 Latin America Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 151 Latin America Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 153 Brazil Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 159 Brazil Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 161 Mexico Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 167 Mexico Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 169 Rest of Latin America Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 175 Rest of Latin America Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 177 Middle East and Africa Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 183 Middle East and Africa Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 185 GCC Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 191 GCC Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 193 Africa Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 199 Africa Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
TABLE 201 Rest of Middle East and Africa Small Engine Market By Energy Resource, 2022-2032, USD (Million)
TABLE 207 Rest of Middle East and Africa Small Engine Market By Distribution Channel, 2022-2032, USD (Million)
FIG. 13Market Positioning of Key Small Engine Market Players, 2023
FIG. 14Global Small Engine Market - Tier Analysis - Percentage of Revenues by Tier Level, 2023 Versus 2032