Small Off-Road Utility Engines (SORE) Market Size, Impacted by COVID-19, to be 106.6 Million Units in 2025, Says Stratview Research

DETROIT, June 9, 2020 /PRNewswire/ -- Stratview Research announces the launch of a new report on Small Off-Road Utility Engines (SORE) Market by Application Type (Lawnmowers, Chainsaws, Generators, Pumps, Compressors, Trimmers, and Others), by Engine Power Type (<5 kW, 5-10 kW, and 10-19 kW), by Equipment Type (Non-Handheld Equipment and Handheld Equipment), by Fuel Type (Gasoline Engines, Electric Engines, and Other Engines), and by Region (North America, Europe, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2020-2025.

This report, from Stratview Research, studies the small off-road utility engines market over the trend period of 2014 to 2019 and the forecast period of 2020 to 2025 in terms of both unit shipments as well as in value. The report studies the Pre-COVID as well as the Post-COVID scenarios and figures out the possible loss of the business due to the pandemic. Furthermore, the report aims to address the industry concerns regarding when and how the recovery will take place in the market. It estimates the current and future demand for small off-road utility engines at the global, regional, as well as country level.

Small Off-Road Utility Engines (SORE) Market: Research Highlights

Small off-road utility engines (SOREs) are non-road small engines that are rated less than or equal to 19 kilowatts (or 25 HP). Engines in this category are used in applications, such as lawn and garden equipment comprising lawnmowers, chainsaws, trimmers, etc.; as well as other small commercial engine applications covering portable generator, pumps, compressors, pressure washers, etc. The small off-road utility engine market is extremely affected by various macro-economic and social factors, such as economic uncertainty, industrial recession, weather conditions, seasonality, new housing trends, and consumer behavior. The market stakeholders experience fluctuations in their demand with such unpredictable factors.

The COVID-19 pandemic has brought distress in the market, which is creating a serious plunge in the demand for small off-road utility engines to an unprecedented level. The global small off-road utility engines market is likely to experience a double-digit decline in a YoY basis in 2020. Currently, it is exceedingly difficult to state a tangible impact of the COVID-19 as it is still spreading and taking economies in its deadly grip. Based on primary interviews with the key stakeholders, it has been found that the industry needs more than five years to hit back its Pre-COVID-19 sales figure. By 2025, the global small off-road engine sales are expected to be 106.6 million units, slightly lower than its 2019-sales figure.

The possible impact of the pandemic would be like the Great Recession (2008), tumbling the sales in 2020 to the below Great Recession level. Furthermore, it is anticipated that there would be a further decline in 2021, followed by a gradual recovery in the sales of SORE from 2022 onwards. There is a great push in the market towards reduction in NOx, HC, and CO emissions from engines. Leading players have been incorporating various new technologies, such as direct injection, advanced sensors, and integrated electronics for intelligent operations, to meet or exceed the emission limits set by regulatory authorities such as EPA and CARB. 

Click Below and Run Through the Detailed TOC of the Report:
https://www.stratviewresearch.com/toc/832/small-off-road-utility-engines-market.html

Based on the application type, the market is segmented as lawnmower, chainsaws, generators, pumps, compressors, trimmers, and others. Lawnmower is likely to remain the most dominant application type in the coming five years, driven by strong demand from the USA, western European countries, and Australia. Among lawnmowers, walk-behind lawnmowers hold a significant share in the market; however, robotic lawnmowers have been experiencing the highest growth. Emerging Asian economies have higher demand for commercial/industrial small engines, especially for compressors and generators.

Our analysis based on the market segment of engine power type suggests that the <5kW engine is likely to remain the most dominant type in terms of unit shipments among <5kW, 5-10kW, and 10-19kW segments. Electric engines are gaining traction in the low-power range segment (<5kW), creating new revenue pockets for players supplying lithium-ion battery engines. Ride-on mowers and generators are some key applications that own a relatively high penetration of high-power engines (10-19kW).

Based on the fuel type, gasoline engine is likely to remain the dominant fuel type in the market in the coming five years; however, there has been an increasing demand for electric engines with the replacement of gasoline engines. For instance, lawnmowers, which have four-stroke gasoline engines, have been witnessing a paradigm shift towards electric lawnmowers, especially robotic lawnmowers. Improved NVH performance, emission reduction, and low cost are some key driving factors for electric engines over gasoline and diesel engines.

Register Here and Ask for a Free Sample of the Report:
https://www.stratviewresearch.com/Request-Sample/832/small-off-road-utility-engines-market.html

In terms of region, North America is projected to remain the largest market for small off-road utility engines during the forecast period. The USA is the world's largest market for small off-road utility engines in the world. The country's market is marked by the presence of various engine manufacturers as well as outdoor power equipment manufacturers. Significant demand from residential lawn and garden and outdoor power equipment, unlike the developing Asian economies with a relatively high demand for small engines for commercial usage.

The supply chain of this market comprises material suppliers, parts manufacturers, small off-road engine manufacturers, equipment manufacturers, mass merchandisers, and dealers/distributors. Key players in the market are Briggs & Stratton Corporation, Chongqing RATO Holding Group Co. Ltd., Chongqing Zongshen Engine Manufacture Co., Ltd., Deutz AG, Honda Motor Co., Ltd., Husqvarna Group, Kawasaki Heavy Industries, Ltd., Kohler Co., Loncin Motor Co. Ltd., and Yamaha Motor Co. Ltd.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors

This report studies the small off-road utility engines market and has segmented the market in five ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the five ways in which the market is segmented:

Small Off-Road Utility Engines Market, By Application Type:

• Lawnmowers (Regional Analysis: North America, Europe, and Rest of the World)
• Chainsaws (Regional Analysis: North America, Europe, and Rest of the World)
• Generators (Regional Analysis: North America, Europe, and Rest of the World)
• Pumps (Regional Analysis: North America, Europe, and Rest of the World)
• Compressors (Regional Analysis: North America, Europe, and Rest of the World)
• Trimmers (Regional Analysis: North America, Europe, and Rest of the World)
• Others (Regional Analysis: North America, Europe, and Rest of the World)

Small Off-Road Utility Engines Market, By Engine-Power Type:

• <5 kW Engines (Regional Analysis: North America, Europe, and Rest of the World)
• 5-10 kW Engines (Regional Analysis: North America, Europe, and Rest of the World)
• 10-19 kW Engines (Regional Analysis: North America, Europe, and Rest of the World)

Small Off-Road Utility Engines Market, By Equipment Type:

• Non-Handheld Equipment (Regional Analysis: North America, Europe, and Rest of the World)
• Handheld Equipment (Regional Analysis: North America, Europe, and Rest of the World)

Small Off-Road Utility Engines Market, By Fuel Type:

• Gasoline Engines (Regional Analysis: North America, Europe, and Rest of the World)
• Electric Engines (Regional Analysis: North America, Europe, and Rest of the World)
• Other Engines (Regional Analysis: North America, Europe, and Rest of the World)

Small Off-Road Utility Engines Market, By Region:

• North America (Country Analysis: The USA, and Canada)
• Europe (Country Analysis: The UK, Germany, France, Scandinavia, and Rest of Europe)
• RoW (Sub-Region Analysis: Asia-Pacific and Others)

Stratview Research has number of high value market reports in the marine and consumer goods industry. Please refer to the following link to browse through our reports:
https://www.stratviewresearch.com/market-reports/Consumer-Goods.html

Our related premium market reports are:

• Marine Outboard Engines Market Size, Share, Trend, Forecast, & Competitive Analysis: 2020-2025.
• Off-Road Vehicles Market Size, Share, Trend, Forecast, & Competitive Analysis: 2019-2024.
• Side-by-Side Vehicles Market Size, Share, Trend, Forecast, & Competitive Analysis: 2019-2024.

About Stratview Research

Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.

We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.

Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.

For inquiries,
Contact:
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176

Logo: https://mma.prnewswire.com/media/660595/Stratview_Research_Logo.jpg