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The global small gas engine market size was USD 2.31 billion in 2020 and is expected to grow from USD 2.43 billion in 2021 to USD 3.58 billion by 2028 at a growth rate of 5.7% in the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the global market exhibited a decline of -7.0% in 2020 as compared to the average year-on-year growth during 2017-2019. The sudden rise in CAGR is attributable to this market’s demand and growth returning to pre-pandemic levels once the pandemic is over.
A small gas engine can be defined as an engine that consists of low powered range. This engine is a small-displacement engine and can primarily run on natural gas, coal gas, landfill gas, and biogas. These engines contain a compact system design and it also consists of a low power output range. These engines have different configurations based on the combustion cycle which can be either four-stroke or two-stroke.
Delays in Major Power Projects to Affect Market Development
The COVID-19 pandemic has spread across the globe. The pandemic has impacted several business sectors such as power generation, manufacturing, oil & gas, mining, automotive, construction, and others. Governments in many countries had to impose nationwide lockdowns & various restrictions due to the outbreak of the pandemic. These restrictions had severe impacts on economics. The power and energy sector has faced significant negative impacts and the investments also declined in this sector during the lockdown. The prices of power had fallen significantly and power demand also weakened. This has severely affected the small gas engine market. Various upcoming power projects have been either put on hold or delayed which directly impacted sales of small gas engines. The construction industry has also been immensely affected by the outbreak of COVID-19 and this lead to a decline in outdoor power equipment.
The pandemic has also caused disruptions in supply chains as travels restriction were imposed across several countries around the world and international borders were also closed which has affected the raw material transport for manufacturing of such engines. The demand for such engines was very low from application industries during the pandemic.
Rising Adoption of Electric and Autonomous Equipment in Gardening Sector to Bolster Market Outlook
The gardening sector along with the industrial and construction sector is shifting its conventional methods of using hand tools. The sectors are widely adopting electric and autonomous tools, which save energy and time and are also provide ease of work. Equipment such as lawnmowers, concrete vibrators, edgers, portable generators, and others are much in demand these days. The gardening sector is booming across the world and thus, the demand for such equipment increases in the market.
Rising Demand for Outdoor Power Equipment to Augment Growth
The demand for outdoor power equipment is widely increasing in the world due to the booming commercial and residential markets. Construction contractors and homeowners are shifting from their conventional methods to renting outdoor power equipment. The renting of such equipment costs lower and is cost-effective to maintain. Such equipment requires low power and lower torque and thus, is mostly equipped with small engines that majorly run on natural gas to release lower GHG emissions. The higher adoption of such equipment boosts the global market growth.
Rising Need to Reduce Emission to Propel Market Growth
Carbon emission is immensely increasing around the world and the major cause of this is exhaust gas emission. The engines that run on diesel, petrol, or oil emit carbon dioxide in high volume and the use of electrical equipment has grown significantly in every part of the world. The gardening sector, residential sector, construction sectors are heavily consuming such devices for various applications. However, the use of small gas engines contributes to reducing emissions and air pollutions. Governments across several countries have regulated strict policies to reduce such emissions and small gas engines compliant with such norms. Thus, this drives the growth of the market during the forecast period.
High Cost of Product May Hinder Market Growth
The price of small gas engines is very high in the market. The manufacturing cost of small gas engines is also high due to its compact design and dimensions. Some components are imported from other nations, which increases the overall price. The high prices of such engines are not affordable by every enterprise and thus, it restricts the growth of the market.
101-450 CC Segment Dominated the Small Gas Engine Market Share in 2020
The market is bifurcated into 20-100 CC, 101-450 CC, and 451-650 CC on the basis of type. The 101-450 CC segment is projected to hold dominant market share over 2021-2028. The demand and installation of such engines are high in the market as this engine is majorly used in lawnmowers and other equipment, which require high torque. The above factors are driving the growth of this segment over the projected period.
The 20-100 CC segment is anticipated to grow significantly through 2028 due to increasing demand for lower torque applications. The devices such as leaf blowers, trimmers, and others utilize such engines for low torque requirements. The manufacturing of such devices is also increasing heavily. This drives the growth of the 20-100 CC segment over the forecast duration.
Lawnmower Segment to Dominate Market Share through 2028
The market is divided into a lawnmower, chainsaw, leaf blower, portable generator, pressure washer, and others on the basis of equipment. The lawnmower segment is likely to witness growth highest CAGR during 2021-2028. Lawnmowers are highly in demand for their wide application in residential and commercial sectors. Parks, lawns, fields, patches, and garden areas largely use such equipment for managing grass.
The leaf blowers segment is anticipated to witness significant growth in the forthcoming years. The demand for such devices is highly increasing as they are easy and convenient to use. These devices are lightweight and they use small engines due to lower torque requirements. These blowers are easy to maintain.
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Gardening Segment to Dominate the Market over 2021-2028
The market is segmented into construction, industrial, and gardening based on application. The gardening segment is expected to dominate the market during the forecast period. The gardening segment is widely growing and also installing various equipment such as trimmer, lawnmower, and leaf blower. The demand and requirement for outdoor power equipment are increasing in landscaping services. This drives the growth of the gardening segment over 2021-2028.
The construction segment is projected to foresee growth over the projected timeline. The demand for construction equipment is widely increasing across the world. Construction companies and homeowners have now started to rent outdoor power equipment. This drives growth of the segment through 2028.
North America Small Gas Engine Market Size, 2020 (USD Billion)
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The global market has been analyzed across five prominent regions based on geography: North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
North America has dominated the global market in 2020. The construction and industrial segments are witnessing higher growth. The trend for renting the equipment is increasing in such sectors in North America. The demand for outdoor equipment is also high in the landscape services in this region. The U.S. and Canada are highly invested in construction sectors in this region. In Canada, the government has announced to invest around USD 141.95 billion in the infrastructure segment around the country for 12 years starting from 2016. The country has approved 35,336 new projects since 2016.
Asia Pacific is expected to grow at a significant CAGR over 2021-2028. The demand for advanced technology equipment is highly increasing in this region. Industrialization is widely increasing in this region and the commercial and residential sectors are also booming. The manufacturing of various components such as small gas engines is widely increasing in this region due to the high demand for various gardening and other industrial equipment. The construction segment is shifting toward renting equipment which increases the demand for various tools such as concrete vibrators, portable generators, and other tools.
Europe is estimated to grow significantly during the forecast period owing to the increasing demand from gardening, construction, and industrial sectors. The demand for various equipment such as lawnmowers, snowblowers, portable generators, and others is increasing widely in the market.
Latin America is estimated to foresee growth at a significant pace in the projected timeframe. The demand for such engines is widely increasing in the residential, commercial, and industrial segments during 2021-2028. This engine primarily runs on gas and helps in reducing emissions. The Middle East and Africa region is expected to witness growth in the global market during the period. The region is heavily increasing its investment toward new technology and also working in reducing pollution within the country.
Key Players Increasing their Concentration On New Contracts and Product Portfolio
The global small gas engine market is fragmented owing to the presence of numerous companies in the developed and developing countries. Currently, Honda Motor Co., Ltd., Subaru, Kohler Co., Briggs & Stratton Corporation, Yamaha Motor Corp., and Kawasaki Heavy Industries are leading the market. These companies are enhancing their product portfolio and focusing on securing new contracts. For instance,
An Infographic Representation of Small Gas Engines Market
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The market research report includes a detailed small gas engine industry analysis and focuses on key aspects such as leading companies, components, and leading technologies of the product. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several drivers that have contributed to the growth of the market in recent years.
Value (USD Billion)
By Type, By Equipment, By Application, and By Region
Fortune Business Insights says that the global small gas engine market size was USD 2.31 billion in 2020.
In 2020, the North America small gas engine market value stood at USD 0.91 billion.
The global market is projected to grow at a CAGR of 5.7% over 2021-2028
The gardening segment is expected to be the leading segment in this market.
The global industry size is anticipated to reach USD 3.58 billion by 2028, growing at a substantial CAGR of 5.7% during 2021 – 2028.
Rising demand for outdoor power equipment augmented growth.
North America dominated the market in terms of share in 2020.
Honda Motor Co., Ltd., Subaru, Kohler Co., Briggs & Stratton Corporation, Yamaha Motor Corp., and Kawasaki Heavy Industries are the major players in the global market.
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