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Small Engine Market Share

Report ID: GMI7765
Published Date: Jan 2024
Report Format: PDF

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Small Engine Market Share

The global small engine industry is highly fragmented owing to the presence of several market players. Major companies operating in the market are Briggs, Honda, Yamaha, accounting over 36% revenue share in the year 2023. The major companies are focusing on mergers & acquisitions, facility expansion, and strategic partnerships to expand their product offerings, customer reach, and enhance market presence. Companies are also focusing on acquisition strategy.

Government support to boost the adoption of high efficient sustainable engines and the geographical expansion of key players are anticipated to intensify the market competition over the forecast timeframe. An acquisition strategy enables a company to enter new markets and product lines instantaneously with a recognized brand having a good reputation and an existing client base. An acquisition can overcome market entry barriers that were previously challenging.

Small Engine Market Companies

Major companies operating in the small engine industry include:

Briggs & Stratton
Honda Motors Co. Ltd
Yamaha

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of small engine reached USD 8 billion in 2023 and is set to record USD 12 billion by the end of 2032, due to the robust growth in construction and infrastructure development along with the rising popularity of home gardening culture.

The horizontal engine type segment held 52.3% of the small engine industry share in 2023, owing to their versatility and widespread applications.

The diesel energy resources segment recorded 36% of the market share in 2023, attributed to its widespread use in various small engine applications, particularly in industrial and heavy-duty equipment.

Asia Pacific market size is expected to witness 6.4% CAGR from 2024 to 2032, driven by the rapid industrialization and urbanization in the region.