As per the findings of the report, the global gasoline generator market is likely to experience considerable growth during the forecast period, owing to several dynamic factors, such as rising demand from residential and commercial sectors for running small power loads in case of power outages.
The global gasoline generator market is estimated to surpass a valuation of US$ 768.8 Mn in 2022. Increasing adoption of gasoline generators to address the need for electricity across areas where power outages and rolling blackouts are frequent is expected to drive the market.
| Attribute | Details |
| Gasoline Generator Market Estimated Size in 2022 | US$ 768.8 Mn |
| Gasoline Generator Market Projected Size in 2029 | US$ 994.6 Mn |
| Gasoline Generator Market Historical CAGR (2014-2021) | 3.3% |
| Gasoline Generator Market Value-based CAGR (2022-2029) | 3.7% |
A new market research report by Future Market Insights on the gasoline generator market includes global industry analysis 2014 – 2021 and opportunity assessment 2022 – 2029. The report inspects into the gasoline generator market and provides critical insights for the forecast period of 2022-2029.
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The global gasoline generator market is estimated to be valued at US$ 768.8 Mn in 2022, and is expected to register healthy growth of 3.7% CAGR during the period 2022-2029. This growth is prominently driven by the growing construction industry. The market for gasoline generators across the globe is highly competitive and small players in the market have to struggle to gain share in the market.
Companies have to adopt product innovation as a key strategy to maintain competitive edge, as new product innovations can provide significant growth opportunities in the market. Noise and weight reduction in portable gasoline generators can be opportunistic; development of products within affordable price bracket can result in high penetration into residential sector.
North America to Capture Significant Market Share
There has been substantial growth in the U.S. construction industry over the recent past. As per the U.S. Census Bureau, there has been significant growth in non-residential construction spending. It is also estimated that this particular segment will grow rapidly over the forecast period.
With the growing construction industry, rise in the preference for portable generators (for standby backup power) is expected to surge the demand for gasoline generators over the forecast period. Since 2010, there has been a continuous rise in the U.S. non-residential construction spending with an annual growth rate of ~5-6%, which is likely to boost the demand for gasoline generators in upcoming years.
Commercial Sector to Remain Key Consumer of Gasoline Generators
A robust market trajectory is foreseen for the gasoline generator market. Commercial and residential sectors spearheading usage of portable generators are likely to remain prominent end users of gasoline generators.
- Gasoline generators that produce power output in the range of 3,000 watts to 5,000 watts are projected to register prominent growth in upcoming years. Gasoline generators that come under this category are utilized in several end-use sectors in case of power failures.
- Portable gasoline generators are most-widely utilized generator sets across the globe, which provide electricity by running a gasoline-powered engine. Portable generators are not permanently installed and can be moved from one place to another easily. Portable gasoline generators are available in various sizes depending on the power output.
- Gasoline generators are primarily utilized for standby backup power applications across several end-use sectors, such as residential, commercial, industrial, and agricultural, among others. The standby backup power application accounts for a major share in the gasoline generator market.
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Why is the China Gasoline Generator Market Considered Lucrative?
“Introduction of Novel Electric Vehicles Integrated with Gasoline Generators Will Bolster Sales”
China is estimated to emerge as a lucrative pocket in Asia Pacific. Sales in the Asia Pacific gasoline generators market are forecast to hold more than 26% of the total market share in 2022.
As the trend of electrification continues to create deeper inroads, demand for electric vehicles is rising in China. Hence, leading automotive manufacturers are focusing on integrating advanced gasoline generators to increase the driving distance.
For instance, EZGO Technologies Ltd, a China-based short-distance transportation solutions provider launched a new range-extended electric scooter named Cenbird in 2021. The electric scooter integrates a high-performance gasoline generator to extend the driving distance up to 350 km before refueling.
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Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
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