December 13, 2021
As cited by the research report titled ‘North America Small Off-road Engines Market Forecast 2027 By Distribution Channel, By Engine Displacement, By Number Of Cylinder, By Drive Shaft Orientation, By End-Use Sector, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, North America small off-road engines market is estimated to generate revenues worth USD 40 billion over 2021-2027.
Increasing gardening activities is a major factor driving North America small off-road engines market growth. Before the COVID-19 outbreak, gardening was linked to improving health and well-being, but the trend continued and became popular throughout the pandemic lockdowns, with individuals trying to grow their own food and engage in calming hobbies to maintain their health.
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As per the National Gardening Association, around 35% of families in America grew their own fruits and vegetables in the past decade, which is nearly 200% increase as compared to 2008.
This trend of gardening is likely to witness a continuous rise given the growing inclination towards transforming outdoor spaces into relaxing areas such as outdoor kitchen, lounge, entertainment, and party spots. In addition, upcoming residential and commercial projects are also escalating the demand for gardening and landscaping activities in the region, which in turn is adding traction to the overall market size.
Based on engine displacement, North America small off-road engines industry is segmented into up to 100cc, 100cc to 500cc, and 500cc to 800cc. The report claims that 100cc to 500cc displacement segment is anticipated to expand at 5.5% CAGR by 2027, owing to their beneficial properties like noiseless performance, fewer emissions, and lower fuel consumption. Moreover, such engines are well suited for high debris applications due to their durability in extreme conditions as well as the gardening/landscaping, agricultural, and construction end-use sectors.
By number of cylinders, the marketplace is divided into single cylinder, double cylinder, and multi cylinder. Among these, single cylinder-based engines segment accounted for 25% market share in 2020 and is poised to garner notable returns over the projected timeline. This can be attributed to the product’s small size and its rising usage in challenging work environments due to their high durability and strong wear resistance characteristics.
Moving on to distribution channel, the business space is classified into OEM and aftermarket. The OEM segment accounted for around 90% market share in 2020 and is expected to amass substantial revenue over the assessment period on account of consumer trust and dependability as well as guarantee of small engines from OEMs as compared to aftermarket channel.
Prominent players swaying the industry dynamics are Motorenfabrik Hatz, Yanmar Co. Ltd., Lifan Industry (Group) Co. Ltd., Kohler Co., Kawasaki Heavy Industries Ltd., Yamaha Motor Co. Ltd., Honda Motor Co.Ltd., Kubota Corporation, and Briggs & Stratton Corporation.