Small Gas Engines Market Size, Share, Analysis, Trends, Growth, 2032

Small Gas Engines Industry Prospective:

The global small gas engines market size was evaluated at $2,990 million in 2023 and is slated to hit $4,750 million by the end of 2032 with a CAGR of nearly 5% between 2024 and 2032.

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Small Gas Engines Market: Overview

Small gas engines play an important part in a slew of end-use sectors, particularly in lawn movers and generators. Reportedly, the small gas engine finds large-scale applications in the construction sector including power generators, concrete mixers, and compactors. These products are fuel and power-efficient and hence find lucrative uses in construction activities.

Key Insights

• As per the analysis shared by our research analyst, the global small gas engines market is projected to expand annually at the annual growth rate of around 5% over the forecast timespan (2024-2032)
•  In terms of revenue, the global small gas engines market size was evaluated at nearly $2,990 million in 2023 and is expected to reach $4,750 million by 2032.
• The global small gas engines market is anticipated to grow rapidly over the forecast timeline owing to the large-scale use of the product in commercial and residential sectors.
• In terms of type, the 101 CC-450 CC segment is slated to register the highest CAGR over the forecast period.
• Based on application, the gardening segment is predicted to contribute majorly towards the global industry revenue in the upcoming years.
• Region-wise, the Asia-Pacific small gas engines industry is projected to register the fastest CAGR during the projected timespan.

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Small Gas Engines Market: Growth Factors

Humungous product penetration in various end-use sectors to propel global market trends

Large-scale use of the product in commercial and residential sectors will steer the global small gas engine market demand. Huge usage of portable generators, outdoor power devices, and automated instruments will prop up the scope of the growth of the market across the globe. Moreover, it is used in recreational vehicles such as go-karts, dirt bikes, tillers, pumps, cultivators, pressure washers, blowers, and brush cutters, thereby spearheading global market trends. Escalating demand for power systems and the need for environment-friendly products will spur market expansion across the globe. An increase in the ongoing Do-It-Yourself home improvement projects is predicted to embellish the expansion of the market globally.

Small Gas Engines Market: Restraints

Surging product maintenance costs can restrict the global industry expansion by 2032

An increase in the product maintenance charges and high standards set by various governments in Europe and Asia regarding emissions can restrict the expansion of the global small gas engines industry. A surge in the costs of manufacturing the product can further minimize the industry size across the globe in the upcoming years.

Small Gas Engines Market: Opportunities

Urging use of the product in gardening activities to carve new facets of growth for the global market

Easy access to different kinds of engines and the need for proficient lawn care services will open new facets of growth for the global small gas engines market. Escalating demand for product in the power and gardening sectors will prop up the expansion of the market globally.

Small Gas Engines Market: Challenges

Surging crude oil prices can halt the growth of the industry globally over analysis timeline

A rise in petroleum costs due to political instability witnessed across the globe has severely affected the prices of gas-driven devices, thereby challenging the expansion of the global small gas engines industry. A prominent increase in the use of electric & battery-driven engines will severely impact the profitability of the global industry in the years to come. Surging repair charges can further deter the expansion of the industry globally in the years ahead.

Small Gas Engines Market: Segmentation

The global small gas engines market is divided into type, application, and region.                                          

In terms of type, the small gas engines market across the globe is bifurcated into 20 CC-100 CC, 101 CC-450 CC, and 451 CC-650 CC segments. Additionally, the 101 CC-450 CC segment, which gained approximately 52% of the global market revenue in 2023, is projected to record the highest annual growth rate in the forecast timeline. The expansion of the segment in the next few years can be due to a rise in the deployment of product 101 CC- 450 CC along with their massive demand by lawn movers and devices requiring torque.

Based on the application, the global small gas engines industry is divided into construction, gardening, and industrial segments. Furthermore, the gardening segment, which gathered approximately two-fifths of the global industry earnings in 2023, is set to make major contributions towards the global industry revenue in the forecasting timespan. The expansion of the segment in the analysis timeline can be ascribed to a rise in the use of the product for trimming leaves and lawn moving.

Small Gas Engines Market: Report Scope

Small Gas Engines Market: Regional Insights

North America is expected to lead the global market rankings over 2024-2032

North America, which accounted for 54% of the global small gas engines market revenue in 2023, is projected to establish a key position in the global market in the coming eight years. In addition to this, the regional market expansion in the forecast timeline can be attributed to thriving industrial and construction sectors in the countries such as the U.S. Presence of key manufacturers and third-party service providers in the region will further contribute to the growth of the region.

Asia-Pacific small gas engines industry is predicted to register the highest growth rate annually in the coming eight years. The growth of the industry in the APAC can be due to a surge in industrial activities in countries such as India, Japan, and China.  Additionally, flourishing commercial and residential activities will further account for the major growth of the industry in the region.

Key Developments

• In the first half of 2024, Northern Tool + equipment introduced a new product line of NorthStar Engines. These engines can be integrated with pressure washers, sprayers, water pumps, and log splitters.
• In the first quarter of 2024, Cummins declared to introduce big bore natural gas engine referred to as Cummins X15N.

Small Gas Engines Market: Competitive Space

The global small gas engines market profiles key players such as:

• Yamaha Motor Corporation
• Honda Motor Co. Ltd.
• Briggs & Stratton Corporation
• Subaru
• Kohler Co.
• Kawasaki Heavy Industries

The global small gas engines market is segmented as follows:

By Type

• 20 CC-100 CC
• 101 CC-450 CC
• 451 CC-650 CC

By Application

• Construction
• Gardening
• Industrial

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa