North America Residential Gasoline Genset Market to expand over 4% by 2024

The residential gasoline gensets market is set to grow over 4% by 2024. Elevating consumer demand for these units may be attributed to responses to events including grid failures, rolling blackouts, power outages driven by adverse weather conditions etc. For instance 2017 being an extremely active Atlantic hurricane season, witnessed a remarkable surge in demand for these units as a result of hurricanes experienced in Texas, Florida, and Puerto Rico.

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2 kVA -3.5 kVA gasoline genset market size is set to exceed an annual shipment of 800 thousand units by 2024. The ability of these gensets to adequately cater to consumer power requirements, predominantly across residential establishments will favor their incursion in the industry. Operational suitability, light weight, and compactness are some of the major features accelerating the deployment of these units.

 201 Market Size – USD 1.3 Billion

Compound annual Growth Rate (CAGR)– 4.5%

2025 Forecast Value – USD 1.5 Billion

The U.S. gasoline genset market is set to witness a growth of over 4% by 2024. Rising frequency and severity of weather-related disasters will encourage the product deployment across the country as an emergency power backup solution. As per a recent study by Edison Electric Institute, over 70% of power outages are caused on account of natural calamities in the country.

Key Highlights of this report: 

Pages: 148

Tables: 122

Charts / Figures:         25

Companies covered:  13

Countries covered:    2

Aesthetic proximity, diverse applicability and product versatility are key factors favouring the demand for Canada gasoline genset market will witness robust growth owing to growing risk awareness and increasing implementation of preparedness measures among consumers against natural disasters. Persistent power supply outages predominantly on account of freezing rain, high winds and sleet storms which cause damage to power lines and equipment will strengthen product deployment across the country.

North America Gasoline Genset Market will exceed USD 1.5 Billion by 2024. Growing consumer awareness, increasing power demand, fragile power grid infrastructure, and chronic power outages are among the most influential trends that will stimulate the industry growth. Rising number of power interruptions triggered by extreme weather conditions coupled with increased stringency of emissions norms will further influence the business landscape.

Increasing dependence on electrical and electronic equipment to sustain the daily operations across a multitude of consumers will propel the North America gasoline genset market. Strengthening customer demand for zero downtime and better reliability will continue to drive the prevalent and sturdy adoption of these gensets.

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Growth drivers

  • Increasing intensity & frequency of weather-related disasters
  • Aging grid infrastructure
  • Growing demand for uninterrupted power supply

Class I engines powered gasoline genset market will witness growth of over 5% by 2024. Shifting trends toward purchase of smaller units driven by growing awareness toward emergency preparedness will boost the product adoption. Smaller engines (class I and handheld engines ) has dominated the regional industry as a result to growing inclination toward lower power units.

Notable participants operating in the North America gasoline genset industry include Cummins, Caterpillar, Generac, Briggs & Stratton, Honda Motor, Kohler Power, Wacker Neuson, Atlas Copco, John Deere, Kirloskar and Honeywell amongst others.

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Companies Profiled based on Business Overview, Financial Data, Product Landscape, Strategic Outlook & SWOT Analysis:

  • Caterpillar
  • Cummins
  • Briggs & Stratton
  • Generac
  • Kohler Power
  • Honda Motor
  • Atlas Copco
  • Wacker Neuson
  • Honeywell
  • John Deere
  • and Kirloskar

North America Class I engines gasoline genset market is set to grow over 5% by 2024. Growing consumer inclination toward purchasing smaller units driven by increased awareness toward emergency preparedness will fuel the product adoption. The regional industry has been dominated by smaller engines (handheld and class I engines) as there has been an apparent shift toward lesser powerful units.

Partial Table of Contents (ToC) of the report:

Chapter 4  North America Gasoline Genset Market, By Power Rating

4.1  North America gasoline gensets market share by power rating, 2017 & 2024

4.2  <2 kVA

4.2.1   North America market from <2 kVA, 2013 – 2024

4.2.2   North America market from <2 kVA, by country, 2013 – 2024

4.3  2 kVA-3.5 kVA

4.3.1   North America market from 2 kVA-3.5 kVA, 2013 – 2024

4.3.2   North America market from 2 kVA-3.5 kVA, by country, 2013 – 2024

4.4  3.5 kVA-5 kVA

4.4.1   North America market from 3.5 kVA-5 kVA, 2013 – 2024

4.4.2   North America market from 3.5 kVA-5 kVA, by country, 2013 – 2024

4.5  5 kVA-6.5 kVA

4.5.1   North America market from 5 kVA-6.5 kVA, 2013 – 2024

4.5.2   North America market from 5 kVA-6.5 kVA, by country, 2013 – 2024

4.6  6.5 kVA-8 kVA

4.6.1   North America market from 6.5 kVA-8 kVA, 2013 – 2024

4.6.2   North America market from 6.5 kVA-8 kVA, by country, 2013 – 2024

4.7  8 kVA -15 k kVA

4.7.1   North America market from 8 kVA -15 kVA, 2013 – 2024

4.7.2   North America market from 8 kVA -15 kVA, by country, 2013 – 2024

4.8  15 kVA – 20 kVA

4.8.1   North America market from 15 kVA -20 kVA, 2013 – 2024

4.8.2   North America market from 15 kVA -20 kVA, by country, 2013 – 2024

Chapter 5  North America Gasoline Genset Market, By Engine Class

5.1  North America gasoline gensets market share by engine class, 2017 & 2024

5.2  Handheld Engine

5.2.1   North America market handheld engine, 2013 – 2024

5.2.2   North America market handheld engine, by country, 2013 – 2024

5.3  Class I Engines

5.3.1   North America market class I engines, 2013 – 2024

5.3.2   North America market class I engines, by country, 2013 – 2024

5.4  Class II Engines

5.4.1   North America market class II engines, 2013 – 2024

5.4.2   North America market class II engines, by country, 2013 – 2024

Chapter 6  North America Gasoline Genset Market, By End Use

6.1  North America gasoline gensets market share by end use, 2017 & 2024

6.2  Residential

6.2.1   North America market residential, 2013 – 2024

6.2.2   North America market residential, by country, 2013 – 2024

6.3  Commercial

6.3.1   North America market commercial, 2013 – 2024

6.3.2   North America market commercial, by country, 2013 – 2024

6.4  Construction

6.4.1   North America market construction, 2013 – 2024

6.4.2   North America market construction, by country, 2013 – 2024

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Related Report:

Diesel Gensets Market

https://www.globenewswire.com/news-release/2019/07/19/1885138/0/en/Diesel-Generator-Sets-Market-will-register-6-CAGR-to-cross-20-bn-by-2024.html