The small off-road engines market is estimated to grow exceptionally by 2026 owing to increasing emphasis on maintaining garden spaces using advanced machineries. Small off-road engines (SORE) have found considerable application across diverse industries such as construction and automotive. These engines are used in golf carts, mortar mixers, boring units and power snowmobiles, among others.
Driven by the need to provide products with better performance and reliability, companies operating in the SORE market have started to introduce technologically advanced products as well as signed mergers and acquisitions with other manufacturing leaders. In 2018, Briggs and Stratton Corporation, a leading provider of gasoline-fuelled outdoor power equipment, announced an acquisition of some assets of Hurricane Inc., to bring in its high-quality manufacturing expertise to help accelerate the firm’s commercial lawn and turf product portfolio.
With such strategic developments, a white paper from Global Market Insights, Inc. suggests that the small off-road engines market may exceed $14.5 billion by 2026. This growth can also be attributed to geographic expansions activities conducted by companies and diversification of product features to cater to different end-use sectors.
Elaborating on some of the ongoing trends in the small off-road engines market:
- Robust demand across the agricultural sector
Small off-road engines with engine displacement ranging between 500cc to 800cc are witnessing a huge demand across the agricultural sector. Estimates suggest that the demand for small off-road engines based equipment will grow rapidly given to increasing emphasis on boosting production capacity across the agriculture business landscape.
These engines are increasingly used to power different machines and equipment like pumps, tiller and cultivators. On this note, it is anticipated that the market for SORE in the agricultural segment may record an estimated 4.5% CAGR between 2020 to 2026.
- Rising demand for multi-cylinder small off-road engines
Small off-road engines are compact internal combustion engines that are gasoline-powered and are used to power low duty machines and equipment. The demand for engines which have multi-cylinders is projected to grow substantially over the coming years, owing to their low vibrations, low emission rate and high-power output, features which enable their extensive use across a wide range of sectors. Studies suggest that the multi cylinder SORE segment accounts for 35% of overall market revenue share and will grow significantly by 2026.
- Europe to register considerable product demand
Europe small off-road engines market is expected to register substantial growth over the forecast period given to rising developments in the construction and automotive sectors of countries like Russia, France and Germany. Robust demand for snowmobiles, all-terrain vehicles ATVs and golf carts rigged with small off-road engines is fuelling the regional industry growth.
Additionally, presence of renowned product manufacturers in the region initiating business strategies such as technological advancements, geographic expansions and partnerships may favour the small off-road engines market of Europe.