What is the future of Small Off-Road Utility Engines (SORE) Market? Know Covid Impact on Size, Share & Forecasts
July 28, 2020
It was estimated prior to this unanticipated outbreak that the Small Off-Road Utility Engines (SORE) Market will reach an estimated value US$ 106.6 million in 2025. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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By Application Type:
Lawnmower is likely to remain the 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 a higher demand for commercial/industrial small engines, especially for compressors and generators.
By Engine Power Type:
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 engines (<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).
By 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.
By 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.
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Based on the research, a proper report is crafted with the following key features:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment.
- 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
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