NEW YORK, March 20, 2017 /PRNewswire/ --
"The small gas engines market is forecasted to grow at a CAGR of 4.15% from 2016 to 2021"
The small gas engines market is projected to reach USD 2.91 billion by 2021, growing at a CAGR of 4.15%, from 2016 to 2021. Growth in the construction industry, along with powered rental for outdoor applications, will be the main drivers for growth in the small gas engines market. The small gas engines market is restrained by the price of engines.
"Construction: The fastest growing end-use segment in the small gas engines market"
The residential and commercial construction industry is a driving factor for the small gas engines market. Residential construction market sales account for a larger share of the outdoor power equipment market, as compared to commercial construction market sales, thus constituting a larger share of the small gas engines market. The residential construction market is likely to experience growth as housing activity is expected to increase considerably during the forecast period. This has boosted the demand for outdoor power equipment and is driving the demand for small gas engines. The demand for landscaping services has increased at commercial establishments, such as golf courses, which paints a bright future for the small gas engines market.
"The snow blower segment to have the fastest growth"
The snow blower segment is the fastest growing market for small gas engines, with major demand coming from countries such as the U.S., Canada, the U.K., and the Nordic countries. Small engines are portable and, hence, cannot be substituted by electric powered equipment. Hence, the demand for snow blowers running on small gas engines is increasing.
"North America dominates the global small gas engines market"
The small gas engines market in North America will be driven by the construction industry and also by the rental of outdoor power equipment. Outdoor powered equipment demand in North America will increase as the commercial industry, like golf courses and ground maintenance, increases, which will boost the demand for small gas engines. New housing projects, along with home remodeling activities, are expected to fuel the growth of the small gas engines market.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as assess future market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier 1- 60%, Tier2- 30%, and Tier 3- 10%
- By Designation: C-Level- 11%, Director Level- 25%, Others*- 64%
- By Region: North America- 70%, Europe- 25%, Asia-Pacific- 5%
Note: *Others includes sales managers, marketing managers, and product managers The tiers of the companies are defined on the basis of their total revenue, as of 2013: Tier 1 = >USD 5 billion, Tier 2 = USD 1 billion to USD 5 billion, and Tier 3 =
The report segments the market based on equipment—chainsaw, rotary tillers, hedge trimmers, string trimmers, concrete vibrators, concrete screeds, leaf blowers, snow blowers, lawnmowers, portable generators, pressure washers, and edgers; engine displacement—20–100cc, 101–400cc, and 401–650cc; end-use—gardening, industrial, and construction; and region—North America, Asia-Pacific, Europe, and the Rest of the World. Each region has been further analyzed based on key country-level markets. The report includes a market share analysis, by revenue, for key companies. The report helps market participants identify high-growth segments and assists them in making key investment decisions.
Why buy this report?
1. The report identifies and addresses key markets for small gas engines, which is useful for outdoor powered equipment manufacturers and OEMs to review production and distribution plans.
2. The report includes analyses of key applications, by equipment, of small gas engines. It analyzes historical trends and also forecasts till 2021, assisting in strategic decision-making.
3. It also presents the competition by analyzing recent market developments such as key contracts, expansions, and new product launches by the key global market players. It helps understand the competition's strategies and plan relevant initiatives.
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