The global small gas engines market is expected to grow from an estimated $2.38 billion in 2016 to $2.91 billion by 2021, growing at a CAGR of 4.15% from 2016 to 2021. North America and Europe are likely to be the largest markets for small gas engines. The growth is likely to be driven by a growth in the construction industry and a rise in demand for rented outdoor power equipment. The demand for outdoor power equipment is expected to rise as demand for residential and commercial construction increases. Contractors and homeowners are increasingly shifting towards renting outdoor power equipment due to lower costs and minimal costs of maintenance.
North America is expected to be the small gas engines market
The North American market is expected to lead the global small gas engines market largely due to a rise in the construction industry and rental of outdoor power equipment in the U.S. and Canada. These countries are investing heavily in the construction of smart and green buildings. This would lead to the need for lawns or gardens to be maintained near buildings. The sale of outdoor powered equipment is likely to get a boost from improvements in housing maintenance. The landscaping services business will also create demand for outdoor powered equipment. In North America, contractors and homeowners prefer to rent outdoor power equipment as it lowers the cost of operations.
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The lawnmowers expected to be largest segment of the small gas engines market
Small gas engines are used in various outdoor power equipment’s like chainsaws, rotary tillers, hedge trimmers, string trimmers, concrete vibrators, concrete screeds, lawnmowers, leaf blowers, snow blowers, portable generators, pressure washers, edgers and among others. There is high demand for lawnmowers, which is one of the factors that are likely to drive the growth of the small gas engine market.
The residential and commercial construction market accounts for a majority of lawn mower equipment sales. Commercial users of lawn mowers, such as golf courses, ground or park maintenance companies, and other non-residential facilities, are expected to stimulate the growth of the lawn mowers market. The residential market will be a major driver for the growth of the lawn mowers segment, as growing interest in outdoor activities would trigger the need to maintain yards. Equipment sales are primarily driven by increasing adoption of landscaping in various regions.
The gardening segment is the most prominent segment of the small gas engines market
The gardening equipment segment is witnessing a significant growth owing to growing adoption in the residential and commercial construction industries. The demand for outdoor power equipment in landscaping services is a key driver for the growth of the segment. The equipment is primarily used for cutting, trimming, and maintaining lawns, and is likely to be in high demand at golf courses, sports fields, and public parks.
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Some of the leading players in the Small Gas Engines Market, including Briggs & Stratton Corporation (U.S.), Kohler Co. (U.S.), Honda Motor Co., Ltd. (Japan), Yamaha Motor Corp. (Japan), and Kawasaki Heavy Industries (Japan), among others.
