Small Engine Market Size is Expected to Grow at a CAGR of 4.3% to Reach US$ 5,951.7 million by 2034 | Fact.MR Report
The Technological Innovation and growth of Online Retail Platforms Set to Drive Growth in the Small Engine Market
Rockville , Jan. 08, 2024 (GLOBE NEWSWIRE) — The global small engine market is estimated at US$ 3,906.6 million in 2024, projected to grow steadily with a 4.3% CAGR through 2034. The market is projected to account for valuation of US$ 5,951.7 million by 2034. Small engines find applications across various sectors, including residential, commercial, and industrial domains. The market is expanding as these engines power equipment in landscaping, construction, agriculture, and power generation, among other industries.
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The growing urbanization trends and the growing interest in DIY activities are driving demand for small engines in residential settings. Consumers seek efficient tools for lawn care, gardening, and home maintenance, contributing to the market’s growth. The increasing prevalence of e-commerce platforms is revolutionizing consumer access to small engines. Online retail channels offer comprehensive product information, reviews, and comparisons, boosting consumer confidence and convenience in purchasing these engines.
The growing technological advances and continuous innovation drives the integration of advanced technologies in small engines, focusing on enhanced efficiency, reduced emissions, and improved performance. This includes developments in high-speed motors, smart features, and the incorporation of electric or hybrid options.
| Report Attribute | Details |
| Value Projection (2034) | US$ 5,951.7 million |
| Growth Rate (2024-2034) | 4.3 % CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 48 Tables |
| No. of Figures | 144 Figures |
Key Takeaways from Market Study
- The global small engine market is projected to expand at a CAGR of 4.3% through 2034.
- The North America small engine market is expected to grow at a remarkable CAGR of 4.4% through 2034.
- The small engine industry in the United States holds a dominant share of 64.6% in 2024.The United States dominates the global Small engine market, valued at US$ 734.4 million in 2024.
- The small engine industry in China is expected to rise at a CAGR of 4.7% through 2034.
- Based on the fuel type, diesel segment hold a 52.8% market share in 2024.
- The small vehicles segment dominates applications with a 13.2% share in 2024.
“The growth in manufacturing, construction, energy, and infrastructure development stimulating demand for Small engine,” remarks an analyst at Fact.MR.
Key Companies Profiled in This Report
- Briggs & Stratton
- Honda Motor Co. Ltd.
- Kawasaki Heavy Industries Ltd.
- Kohler
- Yamaha Motor Co., Ltd
- Lifan Power USA
- Kubota Corporation
- Mitsubishi Heavy Industries Ltd.
- Tillotson
Competitive Landscape
The global market has centralized, dominated by a handful of major vendors holding the lion’s share. Competition among industry players revolves around diverse product lines and cutting-edge features. Small engine manufacturers and suppliers are prioritizing the expansion of their distribution networks to reach a diverse global customer base.
- Yamaha Motor Co., Ltd: Known for a diverse portfolio spanning motorcycles, marine products, power equipment, and small engines. Yamaha’s small engines power a range of equipment, including generators, water pumps, and outdoor power tools.
- Lifan Power USA is a significant player specializing in small gasoline engines for power equipment, including generators, pressure washers, and water pumps. They focus on producing reliable engines for various applications.
- Kubota Corporation is renowned for manufacturing a broad spectrum of machinery and engines, Kubota produces small diesel engines used in agricultural equipment, construction machinery, and industrial applications. Their engines are recognized for their durability and efficiency.
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global small engine market, presenting historical analysis from 2019 to 2023 and forecast statistics for the period of 2024-2034.
The study reveals essential insights on the Fuel type (Gasoline, Diesel) by Application (Domestic, Gardening/Landscape, Construction, Industrial, Small Vehicles, Transportation) across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East and Africa).
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About Fact.MR:
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