Global Small Engine market: Overview
A small engine refers to the general term that is used for a wide variety of low-powered, small-displacement internal combustion engines. These engines are utilized to supply power to concrete mixers, generators, lawn mowers, and many other machines requiring independent sources of power. Most of the small engines are single cylinders that come with a few units of V-twin. However, there are a few Wankel (rotary) engines that are quite small in size have been made for use on equipments like lawn mowers and others. Growing popularity of these engines are anticipated to support development of the global small engine market over the timeframe of analysis, from 2020 to 2030.
Innovations and product development comprise an essential part of the global small engine market. However, there exists dominance of handful of market players and other players in the market, mostly based out of China, are expected to make small engines with improved fuel efficiency and better productivity. In addition, formulations of government regulations pertaining to harmful emissions by small engines are forcing manufacturers to increase the effectiveness of small engines according to the guidelines. These factors are likely to trigger growth of the global small engine market in the years to come.
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Application, engine displacement, fuel type, and region are the four important parameters based on which the global small engine market has been classified.
Global Small Engine market: Notable Developments
One of the relevant and important developments of the market that gives a quick view of the dynamics pertaining to global small engine market is mentioned as below:
- In September 2020, Leading manufacturer of small engines, Briggs & Stratton Corporation, sold all of its assets to KPS Capital Partners. Following the acquisition, it is expected that Briggs & Stratton Corporation will function as an independent company with KPS Capital Partners providing long-term support to them.
Some of the prominent organizations in the global small engine market comprise the below-mentioned:
- Changchai Co., Ltd.
- Briggs & Stratton Corporation
- Kawasaki Heavy Industries, Ltd
- Generac Power Systems, Inc
- Chongqing Fuchai Industry Group
- Kubota Engine America Corporation
Global Small Engine market: Key Trends
The global small engine market is characterized by the presence of the following restraints, drivers, and opportunities.
Integration of Advanced Technologies into Small Engine Activities to Boost Demand
Increased sale of small engines is attributed to the augmented sale of new single family homes every year, mainly in the US. With the rising number of new homes, demand and utilization of various equipments, such as lawn care equipment and others using small engines is likely to rise in the years to come. However, the demand for small engines are expected to rise even sale in the real estate sector is not huge. It is expected that presence of plethora of application opportunities is likely to bolster growth of the global small engine market over the tenure of analysis, from 2020 to 2030.
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Global Small Engine market: Geographical Analysis
The global small engine market is divided into the strategically key regions of North America, Latin America, Middle East and Africa, Asia Pacific, and Europe. Driven by China, Asia Pacific is anticipated to offer lucrative growth opportunities for the global small engine market in the years to come. Product innovations, expansion of manufacturing facilities, and acquisitions characterize the small engine market in China. High demand for these engines in the region is likely to augur well for the Asia Pacific market in the years to come.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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