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Selbyville, Delaware, April 08, 2021 (GLOBE NEWSWIRE) --

Global Market Insights Inc. has recently added a new report on the small off-road engines (SORE) market which estimates the market valuation for small off-road engines will cross US$ 80 billion by 2027. The escalating use of small off-road engines to power several equipment/machinery across diverse end-use sectors will support the market expansion.

500cc to 800cc accounts for over 40% share in small off-road engines market revenue in 2020 on account of their greater fuel efficiency and improved adaptability for various commercial applications. In addition, they offer superior balance, smooth easy starting, low vibration, improved valve life, lower emissions, and instant return to maximum power varying operations. This makes them suitable for construction and automotive industries, where they power golf carts, snowmobiles, utility vehicles, mortar mixers, portable tampers, boring units, concrete saws, and pumps.

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Multi cylinder small off-road engines market volume will witness around 5% CAGR through 2027 owing to their extensive usage across various end-use sectors. Further, their availability in compact sizes, offers high power, low vibration and enables quick cooling due to more cooling surface area and smaller cylinder bore will increase their demand for various equipment/machines over the forecast spell.

Increasing agricultural activities and investments in the agriculture industry have primarily driven the demand for small off-road engines. These engines provide ideal power for sprayers and fertilizer spreaders and for specialized equipment used in the farm. Manufacturers, such as Yanmar and Honda, offer a wide range of agricultural small engines for various machines and equipment such as sprayers, spreaders, tillers, cultivators, pumps, shredders, and tractors, among others.

Based on the distribution channels, the industry is primarily segmented into original equipment manufacturers and aftermarket distributors. Product distribution through aftermarket suppliers will witness a growth rate of more than 5% during the forecast spell. This is owing to low replacement rate and cost affordability when compared to original equipment manufacturers.

Europe small off-road engines market size contributes for over 25% share with increasing community engagement in the implementation of green spaces and landscaping expenditure. European countries boast climates, which in summer and spring encourage green gardens, lush, and greenery along with showy flowers and shrubs. The increasing applications of small engines in equipment for gardening and landscaping will drive the regional market.

Some major findings of small off-road engines market report include:
  • Rising importance toward the maintenance of urban green spaces will positively influence the product penetration in the market.
  • Increasing product demand from domestic, construction, agriculture, and industrial sectors will positively influence product growth in the coming years.
  • The small off-road engines industry participants includes Briggs & Stratton Engines, Kubota Corporation, Honda Motor, Yamaha Motor.
  • Product manufacturers are primarily focusing on technology advancement, geographic expansion, product innovation, and merger & acquisition strategies in the long run.

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Partial chapters of report table of contents (TOC):

Chapter 3. Small Off-Road Engines Industry Insights

3.1.  Industry segmentation

3.2.  Industry size and forecast, 2017 – 2027

3.3.  Industry ecosystem analysis

3.3.1. Profit margin analysis

3.3.2. Value addition at each stage

3.3.3. Distribution channel analysis

3.3.4. Vendor matrix    List of key manufacturers and suppliers    List of key/potential customers

3.4.  Innovation & sustainability

3.4.1. Technology landscape

3.4.2. Future trends including COVID-19 impact    Production trends    North America    Europe    Asia Pacific    LATAM    MEA    Demand trends    North America    Europe    Asia Pacific    LATAM    MEA

3.5.  Industry megatrends

3.6.  Industry impact forces

3.6.1. Growth drivers    Rising technological advancement    Increasing consumer spending and presence of industry players    Escalating use of product in gardening/landscaping industry

3.6.2. Industry pitfalls & challenges    High noise, vibration and increased pollution levels    Increasing uncertainties and significant policy focus toward environment

3.7.  Regulatory trends

3.7.1. U.S.

3.7.2. Europe

3.7.3. Asia Pacific

3.8.  Growth potential analysis

3.9.  Competitive landscape, 2020

3.9.1. Company market share, 2020

3.9.2. Strategy dashboard

3.10.      Porter’s analysis

3.10.1.  Supplier power

3.10.2.  Buyer power

3.10.3.  Threat of new entrants

3.10.4.  Threat of substitutes

3.10.5.  Industry rivalry

3.11.  Price trends (including COVID-19 impact)

3.11.1.  Regional price trends

3.11.2.  Cost structure analysis     R&D cost     Manufacturing & equipment cost     Raw material cost     Distribution cost     Operating cost     Miscellaneous cost

3.12.  PESTEL analysis

About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Posted: 2021-04-08 08:00:00

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