Small Off-Road Engines (SORE) Market size to reach $80 Bn by 2027
Published Date: April 8, 2021 Authors: Kiran Pulidindi, Akshay Prakash
Small Off-Road Engines (SORE) Market size to reach USD 80 billion by 2027, according to a new research report by Global Market Insights Inc.
Several government policies & guidelines to encourage gardening & landscaping on public places to reduce public health costs and beautify neighborhood public spaces will primarily propel small off-road engines industry growth. According to California General Assembly ratified legislation 2013, a city or county must establish an Urban Agriculture Incentive Zone (UAIZ) to support food production in the region. Further, the California government also allows the Secretary of the State and Consumer Services Agency to create facilitation programs backing organizations develop communal garden under Gov. Code 12804.5.
Various municipalities and states across the U.S. are encouraging the development of communal gardens by providing gardening spaces on public lands, by ensuring the existence of constant funding sources and streamlining bureaucratic requirements for gardening activities. These factors will positively influence the small off-road engines market demand for gardening & landscaping applications.
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Browse key industry insights spread across 290 pages with 313 market data tables & 23 figures & charts from the report, “Small Off-road Engines Market Size By Engine Displacement (Up to 100cc, 100cc to 500cc, 500cc to 800cc), By Number Of Cylinder (Single, Double, Multi), By Drive Shaft Orientation (Horizontal, Vertical), By End-use Sector (Agriculture, Domestic, Gardening/Landscaping, Industrial, Automotive, Construction), By Distribution Channel (OEM, Aftermarket), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Diverse applications across end-use sectors will surge up to 100cc small engines demand
Up to 100cc small off-road engines market are estimated to witness around 5.5% CAGR from 2021 to 2027 owing to their applications in powering low duty equipment such as leaf/snow blowers, trimmers, chainsaws, etc. Further, compact size, easy installation, and cost effective product prices will create an opportunistic line for its demand in the sector. Small size and lightweight nature of single cylinder engines make it the most common configuration in the small off-road engine industry that even finds space in compact frames of various applications.
Horizontal drive shaft engines market is likely to generate over USD 15 billion by 2027 on account of their applications in generators, pumps, kart, etc. These engines usually power equipment/machinery that require low energy for operation. Further, their ability to reorient for vertical operations will positively influence the demand.
Rising demand from industrial equipment/machinery will enhance product penetration
SORE find wide applications in several equipment and machinery for industrial purpose. This mainly includes the mining & mineral extraction sector across the globe, which heavily relies on portable generators to utilize natural resources such as iron ore, precious metals, oil, gas, and coal aggregates. Therefore, the growing mining industry in the U.S., Chile, and the Middle East region is poised to increase the adoption of portable generators, thereby propelling the demand for small off-road engines.
Escalating growth in Asia Pacific to drive product penetration
Asia Pacific is projected to exhibit more than 6% CAGR in small off-road engines market volume through 2027 driven by improving economic conditions in the region, which have led to urbanization and an upsurge in housing activities, contributing to an increasing demand for small off-road engines in various applications. Several upcoming construction projects across Asia Pacific will boost the adoption of small off-road engines in construction equipment. Increasing construction activities, mainly in developing countries, such as China, India, and the Philippines, are further projected to escalate the consumption of small off-road engines.
Product innovation among manufacturers will provide a competitive edge in the market
Small off-road engines market participants are primarily focusing on product innovation, merger, acquisition, and expansion activities to attain a competitive edge in the industry. For instance, in March 2020, Kubota Corporation announced the development of a new large displacement industrial diesel engine S7509 that complies with the EU Stage V regulations.
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