Small Gas Engines Market Worth 2.91 Billion USD by 2021
PUNE, India, March 14, 2017 /PRNewswire/ --
The report "Small Gas Engines Market by Equipment (Lawnmower, Chainsaw, Tiller, Screed, Blower, Pressure Washer, and Trimmer), Engine Displacement (20-100cc, 101-400cc, and 401-650cc), End-Use (Gardening, Industrial, and Construction), and Region - Global Forecast to 2021", published by MarketsandMarkets, the market forecasted to grow from USD 2.38 Billion in 2016 to USD 2.91 Billion by 2021, at a CAGR of 4.15%.
Browse 68 market Tables and 29 Figures spread through 124 Pages on "Small Gas Engines Market"
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The Small Gas Engines Market growth is mainly driven by growth in the construction industry and an increasing demand for outdoor power equipment rental.
The gardening end-use segment will dominate the Small Gas Engines Market.
The gardening equipment segment is witnessing a significant growth owing to growing adoption in the residential and commercial construction industries. The demand for outdoor power equipment in landscaping services is a key driver for the growth of the segment. The equipment is primarily used for cutting, trimming, and maintaining lawns, and is likely to be in high demand at golf courses, sports fields, and public parks.
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The lawn mowers segment dictates the Small Gas Engines Market.
The demand for lawn mowers is likely to increase due to their wide use in both residential and commercial applications. Commercial users of lawn mowers, such as golf courses, ground or park maintenance companies, and other non-residential facilities, are expected to stimulate the growth of the lawn mowers market. The residential market will be a major driver for the growth of the lawn mowers segment, as growing interest in outdoor activities would trigger the need to maintain yards.
The North American market will lead the global Small Gas Engines Market.
The North American market is expected to lead the global Small Gas Engines Market largely due to a rise in the construction industry and rental of outdoor power equipment in the U.S. and Canada. These countries are investing heavily in the construction of smart and green buildings. This would lead to the need for lawns or gardens to be maintained near buildings. The sale of outdoor powered equipment is likely to get a boost from improvements in housing maintenance. The landscaping services business will also create demand for outdoor powered equipment. In North America, contractors and homeowners prefer to rent outdoor power equipment as it lowers the cost of operations.
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To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the Small Gas Engines Market, including Briggs & Stratton Corporation (U.S.), Kohler Co. (U.S.), Honda Motor Co., Ltd. (Japan), Yamaha Motor Corp. (Japan), and Kawasaki Heavy Industries (Japan), among others. These players are trying to penetrate developing economies and are adopting various methods to increase their market share.
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