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Gasoline Gensets Market Size - By Power Rating (< 2 kW, 2 kW - 5 kW, 6 kW - 8 kW, > 8 kW - 15 kW), By Phase (Single Phase, Three Phase), By End Use (Residential, Commercial, Construction), Regional Insights & Forecast, 2023 – 2032

  • Report ID: GMI3100
  • Published Date: May 2023
  • Report Format: PDF

Gasoline Gensets Market Size

Gasoline Gensets Market size surpassed USD 9.4 billion in 2022 and is projected to record over 4.2% CAGR from 2023 to 2032. A gasoline genset is defined as an engine driven equipment which converts chemical energy derived from the fuel supplying the engine into electrical power. It fundamentally serves the purpose of a portable power solution in households or as a source of power in construction sites and outdoor recreational activities.

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Insufficient power supply, frequent power interruptions, changing consumer preferences, and ongoing infrastructure development will positively influence the gasoline gensets market growth. Increasing frequency & severity of weather-related power failures coupled with shifting focus toward backup power solutions to maintain day-to-day operations will foster the business outlook. Furthermore, surging consumer focus to adopt backup solutions across the commercial spaces will further boost the industry potential. The global market for commercial gensets is set to hit USD 21 billion by 2027.

COVID– 19 Impact

The gasoline gensets market does not witness any impact of COVID- 19. The industry has grown on the account of rising consumer inclination toward continuous electricity supply and increasing work from home concept across the globe. The surging demand for emergency electricity backup to respond to the emerged crisis along with robust development of healthcare facilities has escalated the industry potential.

Gasoline Gensets Market Analysis

Gasoline Gensets Market Size, By Phase, 2021 - 2032 (USD Billion)

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Based on phase, the single phase gasoline gensets market is set to reach USD 7.5 billion by 2032. The increasing customer awareness together with unreliable grid infrastructure will continue to sustain the expansion of these units. Economic viability to cater to low power requirements primarily across residential applications will strengthen the demand for these gensets. It is widely deployed to cater power requirements for equipment involving low power consumption.

Surging weather-related blackouts in line with the increasing consumer reliance on backup power solutions for maintaining day-to-day operations will propel the deployment of three phase gasoline generators. Ongoing technological advancements focusing on noise reduction and engine modifications and high efficiency will further sway the industry potential.

Based on power rating, the 2 kW - 5 kW rated gasoline gensets market will depict growth rate of around 4.5% by 2032. It is feasible for usage in air-cooled backup generators due to its unlimited availability. These units are quiet and easy to operate owing to its user-friendly control panel. This reduces the dependency on expert guidance to understand the operations.  These units possess typically smaller dimensions and lower weight which in turn will the product penetration.

The 6 kW - 8 kW rated segment held 25% of gasoline gensets market share in 2022. Increasing consumer concern toward reliable & continuous power supply and flourishing construction sector will positively impact the business landscape. The product offers key benefits including light weight, smaller size, quiet operations, and high fuel-efficiency, escalating the business growth. Increased risk awareness and growing implementation of preparedness measures to combat natural calamities will continue to pave the way for the expansion of these units.

Gasoline Gensets Market Revenue Share, By End Use, 2022

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Based on end use, the residential gasoline gensets market was valued at over 3.5 billion in 2022. Increasing weather-related disasters and inefficacy of electrical infrastructure will favor the industry scenario. Moreover, the increasing severity of weather outages combined with intensifying load on the power utilities supply and growing consumer inclination toward backup power solutions will propel the business outlook.

Asia Pacific Gasoline Gensets Market Size, 2020 - 2032 (USD Billion)

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The Asia Pacific gasoline gensets market is predicted to grow at a 4.4% CAGR by 2032. The proliferation of commercial and residential establishments will result into increased demand for consistent power supply which in turn will foster the business landscape. Ongoing electrification programs in line with increasing infrastructure investments and robust expansion in the telecom sector will further institute a favorable industry scenario. The North America gasoline gensets industry is likely to hit USD 1.8 billion by 2027.

Positive outlook toward the construction sector and the rising infrastructure investments will fuel the European market. The environmental & emission compliances along with increasing intensity and frequency of weather-related outages will amplify the industry landscape. Paradigm shift toward cleaner power sources coupled with elevated demand for continuous & reliable power supply will impact the business development.

Gasoline Gensets Market Share

The major companies operating in the gasoline gensets market include:

  • Kirloskar
  • Cummins, Inc.
  • Briggs & Stratton
  • Kohler Co
  • Generac Power Systems
  • Caterpillar
  • Atlas Copco AB
  • Honda Motor Co
  • Champion Power Equipment
  • Deere & Company
  • Wacker Neuson SE
  • Yamaha Motor Co
  • DuroMax Power Equipment
  • Honeywell International

Gasoline Gensets Industry News

  • In August 2022, Cummins Inc. partnered with Grupel, a manufacturer of generators with over 45 years of experience in the power market. The partnership allowed the strategic growth of both companies and the installation of a new range of generator products with small power ratings. The partnership augmented the revenues of both companies and propelled their growth in the gasoline gensets market.
  • In June 2022, Kirloskar launched the new i-green series generators. This 2.0 series is equipped with the R550 series engines, which are fuel efficient and equipped with high-power quality. The products offer key benefits including remote monitoring and self-diagnostics. These new products strengthened the company’s growth and its market presence worldwide.

This gasoline gensets market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2019 to 2032, for the following segments:

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Market Insights, By Power Rating

  • < 2 kW
  • 2 kW - 5 kW
  • 6 kW - 8 kW
  • > 8 kW - 15 kW

Market Insights, By Phase

  • Single Phase
  • Three Phase

Market Insights, By End Use

  • Residential
  • Commercial
  • Construction

The above information has been provided for the following regions and country:

  • North America
    • U.S.
    • Canada
  • Europe
    • Russia
    • UK
    • Germany
    • France
    • Spain
    • Austria
    • Italy
  • Asia Pacific
    • Australia
    • Japan
    • China
    • India
    • Indonesia
    • Thailand
    • Philippines
    • Malaysia
    • Singapore
    • Vietnam
    • South Korea
  • Middle East
    • Saudi Arabia
    • UAE
    • Qatar
    • Turkey
    • Iran
    • Oman
  • Africa
    • Egypt
    • Nigeria
    • Algeria
    • South Africa
    • Mozambique
  • Latin America
    • Mexico
    • Chile
    • Argentina
    • Brazil
Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market valuation of gasoline gensets was worth more than USD 9.4 billion in 2022 and is anticipated to surpass USD 14.1 billion by 2032.

The single phase gasoline gensets market size will reach over USD 7.5 billion by 2032 owing to increasing customer awareness and unreliable grid infrastructure.

APAC market for gasoline gensets will expand at 4.4% CAGR between 2023 and 2032 led by the increasing commercial and residential demand for consistent power supply.

Kirloskar, Cummins, Kohler Co., Caterpillar, Atlas Copco AB, Yamaha Motor Co., JET POWER, and Honeywell International are some of the major companies in the gasoline gensets industry.

Gasoline Gensets Market Scope

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 15
  • Tables & Figures: 995
  • Countries covered: 35
  • Pages: 450
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