Small Off-Road Engines Market 2021-2027 Report By Industry Growth & Regional Forecast
The Europe small off-road engines market accounts for around 25% of market share, due to the implementation of urban green strategies by various communities, alongside the high landscaping expenditure. European countries are known for developing green gardens and lush fields with showy shrubs and flowers owing to the favorable climatic conditions. The escalating product usage in equipment for landscaping and gardening will further proliferate regional market dynamics over the estimated timeframe.
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A rise in the number of small off-road engine market manufacturers that are focusing on product innovation, geographical expansion, technological advancements, as well as acquisition & merger strategies is touted to drive industry expansion through the coming years.
For instance, in December 2020, DEUTZ in collaboration with John Deere Power Systems announced plans for the joint development and sourcing of components for a low hp range engine up to 130kW. The selection of DEUTZ by John Deere as a partner for this engine project highlights its strong position across various off-road engine applications. The global small off-road engines market size is anticipated to register revenue of $80 billion by 2027.
In terms of segmentation by engine displacement, the 500cc to 800cc segment holds over 40% of the small off-road engines market share, which can be credited to its greater fuel efficiency and high adaptability in myriad commercial applications. The segmental growth is further attributable to its capability to provide superior balance, low vibration, smooth easy starting, low emissions, improved valve life, as well as instant return to its maximum power varying operations, thereby gaining prominence in the automotive and construction industries. This type of product has also been deployed to power pumps, concrete saws, boring units, portable tampers, mortar mixers, utility vehicles, snowmobiles, and golf carts.
On the basis of number of cylinder, the global small off-road engines market from the multi segment is poised to depict a CAGR of nearly 5% through 2027, driven by its extensive usage across multiple end-use sectors, alongside its availability in compact sizes. Moreover, its ability to offer high power, low vibration, as well as allow rapid cooling due to more cooling surface area & small cylinder bore will further impel segmental expansion.
With regards to distribution channel, the market is bifurcated into the OEM and aftermarket segments. Of these, the aftermarket segment is likely to exhibit a growth rate of above 5% through 2027, as a result of its low replacement rate and cost-effectiveness as compared to the original equipment manufacturers.
Key small off-road engines market participants include Yamaha Motor, Honda Motor, Kubota Corporation, and Briggs & Stratton Engines, among others. These firms are primarily focusing on strategies such as M&A, new product innovations, and technological advancements to expand their geographical presence across the globe.
To illustrate, in May 2020, China Yuchai International Ltd. announced the passing of the off-road European Stage V emission test for its YCA05175-S500 engine, allowing the product to be marketed for off-road applications in the European Union.
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Some Point from Table of Contents:
Chapter 7. Small Off-Road Engines Market, By End-Use Sector
7.1. Key end-use sector insights
7.2. Agriculture
7.2.1. Market estimates and forecasts, 2017 – 2027
7.2.2. Market estimates and forecasts by region, 2017 – 2027
7.3. Domestic
7.3.1. Market estimates and forecasts, 2017 – 2027
7.3.2. Market estimates and forecasts by region, 2017 – 2027
7.4. Gardening/Landscaping
7.4.1. Market estimates and forecasts, 2017 – 2027
7.4.2. Market estimates and forecasts by region, 2017 – 2027
7.4.3. Residential
7.4.3.1. Market estimates and forecasts, 2017 – 2027
7.4.3.2. small off-road engines market estimates and forecasts by region, 2017 – 2027
7.4.4. Commercial
7.4.4.1. Market estimates and forecasts, 2017 – 2027
7.4.4.2. Market estimates and forecasts by region, 2017 – 2027
7.5. Industrial
7.5.1. Market estimates and forecasts, 2017 – 2027
7.5.2. Market estimates and forecasts by region, 2017 – 2027
7.6. Automotive
7.6.1. Market estimates and forecasts, 2017 – 2027
7.6.2. Market estimates and forecasts by region, 2017 – 2027
7.7. Construction
7.7.1. Market estimates and forecasts, 2017 – 2027
7.7.2. small off-road engines market estimates and forecasts by region, 2017 – 2027
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