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Opportunity for Small Gas Engines Market to Reach $ 2.91 Billion by 2021
The small gas engines market is mainly driven by growth in the construction industry and demand for outdoor power equipment in applications such as gardening and construction.
The global small gas engines market is estimated to grow 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 small gas engines market is mainly driven by growth in the construction industry and demand for outdoor power equipment in applications such as gardening and construction.
Briggs & Stratton Corporation (U.S.), Kohler Co. (U.S.), Honda Motor Co., Ltd. (Japan), Yamaha Motor Corp. (Japan), and Kawasaki Heavy Industries (Japan) are the market leaders in the small gas engines market.
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Strategies employed by various companies in the small gas engines market include contracts & agreements, new product launches, expansions, and mergers & acquisitions. New product launches were the most adopted strategies out of these.
Briggs & Stratton Corporation is one of the largest manufacturers of small gas engines in the world. The company operates through two segments, namely, engines and products. The engines segment is the core business of the company, which is the key engine supplier for outdoor power equipment manufacturers such as MTD Products, Inc., Husqvarna Outdoor Products Group, and Deere & Company, among others.
The major restraint for the industry is the price of small gas engines. Consumers are buying cheap equipment from merchandisers or retailers at low prices. These merchandisers or retailers are pushing Chinese products that are available at lower prices but are of low quality. This price war has pushed manufacturers to a point where they have lost the ability to sell their engines at a premium.
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Kohler Co., under its engines and generators division, manufactures and markets generators and engines. The company manufactures general purpose small gas, diesel, and mixed fuel engines, which cater to applications such as lawnmowers, agricultural tillers, industrial pressure washers, and generators, among others.
Small gas engines are used in various outdoor power equipment like chainsaws, rotary tillers, hedge trimmers, string trimmers, concrete vibrators, concrete screeds, lawnmowers, leaf blowers, snow blowers, portable generators, pressure washers, and edger’s, among others. There is high demand for lawnmowers, which is one of the factors that is likely to drive the growth of the small gas engines market. The residential and commercial construction market accounts for a majority of lawn mower equipment sales. Equipment sales are primarily driven by increasing adoption of landscaping in various regions.
The report’s target audience includes:
- Small gas engines manufacturers
- Outdoor powered equipment companies
- Government and industry associations
- Outdoor Power Equipment Institute
Mr. Shelly Singh
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