Small Off-Road Engine (SORE) Market size worth $14.5bn by 2026
Published Date: June 1, 2020 Authors: Kiran Pulidindi, Akshay Prakash
Small Off-Road Engine Market size is set to surpass USD 14.5 billion by 2026, according to a new research report by Global Market Insights, Inc.
Ongoing trend of communal gardening and landscaping activities across urban spaces will primarily drive the small off-road engine market to power various gardening/landscaping equipment in the industry. Government policies and guidelines to encourage gardening on public lands to reduce public health costs and beautify neighborhoods public spaces across the region will further propel the market penetration.
Several states and municipalities across U.S. encourage the development of communal gardens in a several different ways, that also includes providing gardening spaces on public lands. Some also ensures the existence of constant funding sources and streamlining bureaucratic requirements for gardening activities. For instance, 47 Illinois. Administration. Code 120.110(b)(6) includes communal gardens as apart of state nutrition programs funded by the Illinois Federal Community Services Block Grant program (CSBG) to encourage gardening, which in turn will positively influence the market demand across the region in near future.
Diverse end-use applications will surge the demand for less than 100cc small off-road engines
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Up to 100cc segment generated over USD 1 billion revenue in 2019 and is estimated to grow at a significant rate through 2026 owing to its wide application in low duty equipment such as snow/leaf blowers, chainsaws, string trimmers, etc. these equipment requires independent power sourced engines for its operation. Additionally, easy installation, compact size, and cost-effective product prices will create opportunistic line for its demand in the sector.
Single cylinder engine is the most common configuration, which accounts a fair share in the overall market and is anticipated to expand at over 4% CAGR during the forecast period. This is attributed to its small size and light weight nature that even finds space in compact frames of various applications.
Browse key industry insights spread across 253 pages with 313 market data tables & 23 figures & charts from the report, “Small Off-Road Engine (SORE) 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, 2020 – 2026” in detail along with the table of contents:
Flexible performance capabilities to support horizontal drive shaft engines growth
Horizontal drive shaft engines segment valuation crossed USD 2.5 billion in 2019 and is poised to witness a substantial growth from 2020 to 2026 led by its wide application in kart, generators, pumps, etc. these engines usually power equipment that require low energy for its operation. Further, their ability to reorient for vertical operations will positively fuel the market size expansion.
Rising adventure sports will enhance small off-road engine market penetration
Application of small off-road engine in utility terrain vehicles, snow mobiles and golf carts account a fair share in the market and is slated to grow at a CAGR of around 4% till 2026. This is due to superior performance high durability, and ability of small engines to return to maximum power under variable operations will positively influences its penetration in automotive industry. Moreover, increasing product demand for various industrial and construction equipments such as generators, pumps, portable tampers, mortar mixers, concrete saws and pressure washers will boost the market growth.
Escalating growth in North America to drive product penetration
North America small off-road engine (SORE) market size is projected to exhibit highest growth of around 5% in the forecast timeframe impelled by increasing product demand from residential and commercial gardening/landscaping industry as several states across U.S and Canada have well enacted guidelines that support gardening/landscaping activities in the region.
Furthermore, the region is also a center for snowmobiling sports and also embraces large number of golf carts and courts that requires wide applications of small engines to power snocross, carts and landscaping equipment, which in turn will propel small off-road engines demand across the region.
Geographic expansion among manufactures will provide competitive in the market
Major manufactures in the small off-road engine market include Briggs & Stratton Engines, Honda Motor Co., Ltd., Kawasaki Heavy Industries, Ltd, Kohler Co., Loncin Motor Co., Ltd., Yanmar Co. ltd., Kubota Corporation, Motorenfabrik Hatz GmbH & Co. KG, and Yamaha Motor Co., Ltd. These companies primarily focuses on merger, acquisition and expansion activities to attain competitive edge in the industry.