Small Engine Market Size

Small Engine Market size is anticipated to reach USD 14 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of small engine was USD 7 Billion. The expanding commercial and residential industries are driving up demand for outdoor power equipment globally. For instance, in 2020 global commercial industry is poised to garner a revenue of USD 34 trillion. Instead of using their traditional ways, homeowners and construction contractors are renting outdoor power equipment. These pieces of equipment are less expensive to hire and require little upkeep. To minimize greenhouse gas emissions, this type of equipment is typically fitted with small engines that mostly run on natural gas. Increased use of this equipment fuels the expansion of the worldwide market.

Small engines are usually 2- or 4-stroke parts that run smaller cars like mopeds and dirt bikes as well as outdoor equipment like generators, lawnmowers, and tractors. Small engines are compact, have a straightforward design, and operate well. It can endure for many years if well provided for. Therefore, the longer lifespan is expected to bolster the growth of the small engines market.