The global gasoline generator market is projected to exceed a valuation of USD 768.8 million in 2022, according to a recent report by Future Market Insights. The report provides an in-depth analysis of the market from 2014 to 2021 and offers a forecast through 2022 to 2029. It highlights key factors influencing market growth, such as rising demand for gasoline generators in both residential and commercial sectors to power small loads during outages.
The gasoline generator market is expected to grow at a CAGR of 3.7% from 2022 to 2029, with the construction industry playing a pivotal role in driving this growth. The market is highly competitive, with smaller players facing challenges in gaining market share. To stay competitive, companies are focusing on product innovation, particularly in reducing noise and weight in portable generators, which can open new opportunities, especially within the residential sector.
North America’s Market Dominance
The U.S. construction industry has experienced substantial growth, particularly in non-residential construction. According to the U.S. Census Bureau, spending in this sector has seen consistent increases, with an annual growth rate of 5-6% since 2010. This trend is expected to continue, boosting demand for portable gasoline generators, especially for backup power in construction projects. This positions North America to capture a significant share of the global gasoline generator market in the coming years.
The gasoline generator market is projected to follow a strong growth trajectory, with both the commercial and residential sectors leading the demand for portable generators.
- Power Output Growth: Generators producing between 3,000 watts and 5,000 watts are expected to see significant growth in the coming years. These generators are widely used across various sectors during power outages.
- Popularity of Portable Generators: Portable gasoline generators are the most commonly used generator types worldwide, powered by gasoline engines. Unlike fixed installations, these generators can be easily moved from one location to another and are available in different sizes based on power output.
- Standby Backup Power Applications: Gasoline generators primarily serve as standby backup power solutions across multiple sectors, including residential, commercial, industrial, and agricultural. This application type accounts for a substantial share of the gasoline generator market.
- Market Participants: The report on the gasoline generator market identifies key players who have established themselves as significant stakeholders in the industry.
- Market Structure: The global gasoline generator market is primarily fragmented, with the top three players holding a 25%-30% share. This fragmentation is attributed to the presence of numerous manufacturers, particularly from China. Major market players are focusing on mergers and acquisitions, as well as launching new products to broaden their global footprint.
Competitive Landscape of the Global Gasoline Generators Market
- Focus on Innovation: Leading players are developing novel silent and compact portable gasoline generators to meet rising demand from various end-use industries.
- Cummins Launch:
- In January 2021, Cummins, a prominent American manufacturer of power generation products, launched two new gasoline-powered generators:
- QG 2500i
- QG 2800i
- In January 2021, Cummins, a prominent American manufacturer of power generation products, launched two new gasoline-powered generators:
Key Companies Profiled
- Kohler Co.;
- Honda Motor Co., Ltd.;
- Generac Power Systems, Inc.;
- SGS Engineering (UK) Ltd.;
- Hyundai Power Equipment;
- Stephill Generators Ltd.;
- Yamaha Motor Co., Ltd.;
- Champion Power Equipment, Inc.;
- Others
Gasoline Generator Market by Category
By Power Output:
- Less than 1.0 KW
- 1.0 TO 3.0 KW
- 3.0 TO 5.0 KW
- More than 5.0 KW
By Type:
- Portable Generator
- Stationary Generator
By Application:
- Standby Backup Power
- Continuous Power
By End Use:
- Commercial
- Residential
- Industrial
- Agricultural
- Others (Construction etc.)
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Report Preview: https://www.futuremarketinsights.com/reports/gasoline-generator-market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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