General purpose engines refer to a family of small-displacement, low-power internal combustion engines used to power lawn mowers, generators, snowplows, and many other machines that require a separate power source. These engines typically feature simple construction and compact designs with a focus on durable performance.
General Purpose Engines Market Summary
According to the new market research report “General Purpose Engines- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global General Purpose Engines market size is projected to reach USD 14.31 billion by 2030, at a CAGR of 5.5% during the forecast period.
- Global General Purpose Engines MarketSize(US$ Million), 2019-2030
Source: QYResearch, "General Purpose Engines- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
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- Global General Purpose Engines Top12 Players Rankingand Market Share (Ranking is based on the revenue of 2023, continually updated)
Source: QYResearch, "General Purpose Engines- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
According to QYResearch Top Players Research Center, the global key manufacturers of General Purpose Engines include HONDA, Briggs & Stratton, KOHLER, Kawasaki, Kubota, Chongqing Zongshen Power Machinery, GENERAC, Loncin Motor, YAMAHA, Huasheng Zhongtian Machinery Group, etc. In 2023, the global top five players had a share approximately 50.0% in terms of revenue
General Purpose Engines Market Dynamics
Market Drivers:
Gardening and Agricultural Uses: General purpose engines are widely used in gardening equipment and agricultural machinery. There is a steady demand in the agricultural and horticultural sectors for small, efficient and easy-to-operate engines.
Environmental regulations: Increasingly stringent environmental regulations are driving demand for more fuel-efficient and lower-emission general-purpose engines. Manufacturers continuously strive to develop new small engines that meet environmental standards.
Emerging market demand: In some emerging markets, such as Asia and Africa, demand for general-purpose engines is likely to show a growing trend in sectors such as agriculture, transportation and infrastructure construction.
Restraint:
Technological Advances and Substitutes: As technology continues to advance, new engine technologies and substitutes may emerge, such as electric engines, hybrid powertrains, etc. This may reduce the market share of General Motors, especially in markets with higher environmental protection and energy efficiency requirements.
Environmental regulations: Increasingly stringent environmental regulations may have an impact on GM engine manufacturers. New emission standards and environmental protection requirements may cause manufacturers to make technical improvements and increase production costs.
Fuel Price Fluctuations: General purpose engines typically use fuel as a power source, so fluctuations in fuel prices can have a significant impact on the industry. High fuel prices may lead users to seek more energy-efficient alternatives.
Trend:
Lightweight design: The general engine market may trend towards lighter and more compact designs to meet the demand for lightweight equipment. Lightweighting helps improve portability while carrying portable devices while improving fuel efficiency.
Renewable energy applications: The general engine market is likely to face increased demand for renewable energy sources such as biodiesel, natural gas, etc. This reflects the pursuit of greener and sustainable energy sources.
About The Authors
Airong Wang– QYResearch Junior Analyst; Received a master's degree in logistics and utilizes technical knowledge to provide insight into the logistics industry; Have certain data search and analysis capabilities, and be good at feasibility analysis of the industry
Email: wangairong@qyresearch.com
About QYResearch
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