Because of the fierce competition on the global market for gasoline generators, niche players must fight for market share. With a healthy growth rate of 3.7% from 2022 to 2029, the global gasoline generator market is anticipated to be worth US$ 768.8 million in 2022. This expansion is largely being driven by the expanding construction industry.
The report’s findings show that one important dynamic driver influencing the anticipated significant growth of the global petrol generator market over the forecast period is the need for running small power loads during power outages from the residential and commercial sectors.
Businesses that wish to remain competitive must give product innovation first priority since new items can open up significant prospects for market expansion. Portable petrol generators with less noise and weight may be advantageous, and the development of reasonably priced products may result in significant home market penetration.
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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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Gasoline Generator Market: Vendor Insights
The report titled gasoline generator market highlights some of the key market participants, who are well-known market players and have established themselves as prominent stakeholders in the global gasoline generator market.
Some of the examples of key players in the global gasoline generator market are Kohler Co., Honda Motor Co., Ltd., Generac Power Systems, Inc., SGS Engineering (UK) Ltd., Hyundai Power Equipment, Stephill Generators Ltd., Yamaha Motor Co., Ltd., and Champion Power Equipment, Inc., among others.
In terms of market structure and tier analysis, the global market for gasoline generators is mostly fragmented, with top 3 players holding 25%-30% share in the global market. This is mainly due to the large number of Chinese and other players involved in the manufacturing of gasoline generators. Significant players in the market are focusing on mergers and acquisition activities, along with new product launches to expand their global reach.
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.)
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