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Market Research Future (MRFR) confirms that the small gas engines market 2020 can accrue a valuation of USD 3.41 billion by 2025. It is also expected that the market size can expand at a rate of 4.14% from 2019 to 2025 (evaluation period). We will provide covid-19 impact analysis with the report. The COVID-19 impact on the market has been carefully studied, following which the report outlines the key developments post the coronavirus disease outbreak.
The impact analysis on COVID-19 clearly indicates that the energy and power sector has been significantly affected by the weakened demand and the falling prices of power. This has affected the market for small gas engines as well, as a result of the construction industry crashing and the demand for outdoor power equipment rental going down.
Analyzing the long-term impact of COVID-19, most of the firms in the small gas engines market are working on cutting down the costs of asset protection, while striving to ensure smooth flow of operations to curb revenue loss. While a number of economies are struggling to find a COVID-19 breakthrough, the lockdown imposed post pandemic has restrained the movement of materials across the power and energy plants. The short term impact of the novel coronavirus has managed to ebb the investment capacity of vendors in the market in light of growing political turbulence.
Key Boosters and Primary Deterrents
On a bright note, experts believe that despite the outbreak SARS-CoV-2, the small gas engines market can benefit from the rapid growth of the commercial and residential construction across developing regions such as Asia Pacific and South America and the consequent surge in the sales of lawnmowers and other outdoor power equipment.
Small gas engines are gathering immense momentum, as various automobile manufacturers are single mindedly working on meeting the strict emissions norms, such as the ACEA agreement, EURO 6 and EURO 5. This is giving rise to new technological avenues, such as biofuels and micro-hybridization, which are emerging as growth opportunities in the global market. Rigid emission regulations in several countries are compelling vehicle manufacturers to downsize the small gas engines they produce, leading to higher demand in the automotive industry.
Product innovation and advancements are some of the indispensable trends prevailing in the small engine market. With a few companies dominating the small engine market, many of the manufacturers across the globe are focusing on developing small gas engines that are more productive and are fuel efficient. Also, government regulations with regard to toxic emissions by small gas engines are prompting manufacturers to boost the product efficiency in adherence to the guidelines, resulting in better demand among consumers.
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The small gas engines industry has been considered for equipment, engine displacement as well as end-use.
The equipment-based segments described in the study are pressure washer, concrete vibrators, hedge trimmer, snow blower, portable generator, edger, rotary tiller, concrete screed, chainsaw, leaf blower, lawnmower, string trimmer, and others. Lawnmowers can be the clear winner among all the segments, thanks to its rising deployment in the commercial and residential sector.
The engine displacement-wise categories are 101 cc to 400 cc, 401 cc to 650 cc and 20 cc to 100 cc. It is anticipated that the 101 cc to 400 cc segment can lead the global market, since the engines falling in this range are mostly deployed in inland mowers that generate high torque.
The key end-users in the worldwide market are construction, industrial and gardening. The fastest growing segment can be that of gardening during the review period, on account of the soaring demand for various types of outdoor power tools in landscaping services.
At a global level, the small gas engines market has been regionally split into APAC/Asia Pacific, North America, MEA/the Middle East & Africa, South America and Europe.
MRFR identifies North America as the most successful market for small gas engines, as a result of the thriving construction industry and the increasing sale of outdoor power equipment for landscape applications in commercial as well as residential sectors. The United States (US) and Canada are primarily focused on green buildings, with considerable investments going in their development, which results in higher uptake of small gas engines. The US can be the fastest gaining market in the region, along with being the most profitable, on account of the fast growing number of construction projects such as rental activities with respect to outdoor power equipment.
Moving ahead, the rising urbanization in APAC has led to consumers spending wholeheartedly on various recreational activities such as landscaping services and golf, which can benefit the market for small gas engines in the coming years. The high traction of small gas engines, particularly in industrial applications, is touted to promote the market growth in the region. More importantly, the soaring need for portable lighting also adds to the market profits for small gas engines.
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