The global residential generator market value was $9.1 billion in 2020. The global residential generator market is forecast to grow at a compound annual growth rate (CAGR) of 4.2% during the forecast period from 2021-2027.
Temporary power is provided by residential generators when there is a power outage distant from the home. The generators can produce 0–1kW and run on a range of fuels, such as propane, diesel, gasoline, and biodiesel. In addition to domestic use, generator sets have many commercial and industrial applications, including power backups at home, live events, tailgates, concerts, and market complexes, as well as tools and machines at construction sites. A portable generator uses conventional fuel and is mobile, so it is ideal for temporary power generation. In the coming years, demand for natural gas with low emissions will change the fuel sources used to run generators. The industry will also benefit from changing lifestyles and selection patterns for household essentials that utilize increased energy.
The unreliability of power grids contributes to the growth of residential generators. Moreover, areas prone to natural disasters and power disruptions encourage the demand for portable generators in the residential generators market. Generators used by residential end-users often have power outputs up to 6 kW. The generators power a wide range of appliances in homes during emergencies, including lights, freezers, sump pumps, heaters, TVs, and water purifiers. Also, portable generators are useful when tailgating and camping.
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Factors Affecting the Global Residential Generator Market
- In the coming years, residential generator sales will increase as the government builds more energy-efficient infrastructure.
- The demand for household generators increased from 4 to 8 KW in the residential market.
- In addition, the rapidly growing construction industry is propelling market growth with the increasing adoption of residential generators.
Covid-19 Impact on the Global Residential Generator Market
- The Coronavirus has eased the growth of the residential generator market as countries have had to declare lockdowns throughout the first half of 2020. The government and neighborhood specialists issued strict rules, and all minor projects were on hold. The suspension of end-user activities adversely affected the residential generator market.
- Additionally, production and supply chain delays impacted the portable generator market during the second quarter since end-user industries were not operating at maximum capacity.
Regional Analysis of the Global Residential Generator Market
During the forecast period, Asia-Pacific will comprise the leading portion of the market. Due to the increase in manufacturing across several countries in the Asia Pacific region, including Malaysia, China, India, Australia, and South Korea, the areas will likely experience rapid growth. A primary factor driving the demand for residential gas generators is government programs for supplying electricity to rural areas.
Key Players in the Global Residential Generator Market
The major leading players in the global residential generator market are:
- Atlas Copco AB
- Honda Motor Co Ltd
- Champion Power Equipment, Inc.
- Caterpillar Inc.
- Briggs & Stratton Corporation
- Scott’s Emergency Lighting
- Cummins Inc.
- Eaton Corporation PLC
- Generac Holdings Inc.
- Kohler Co.
- Others
Aim of the Report: The Global Residential Generator Market
The global residential generator market segmentation consists of Type, Fuel Type, Power Rating, and Region.
Segmentation based on Type
- Stationary
- Portable
Segmentation based on Fuel Type
- Gasoline
- Diesel
- Others
Segmentation based on Power Rating
- Less than 4 KW
- 4- 8 KW
- 8-17 KW
- More than 17 KW
Segmentation based on Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Table of Content
Chapter 1: Global Residential Generator Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Residential Generator market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Residential Generator Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Residential Generator market Size Forecast (2023-2032).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Residential Generator market revenues on a global, regional, and country level, projecting trends until 2032. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Residential Generator market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Residential Generator market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Residential Generator business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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