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North America Gasoline Gensets Market - 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) & Forecast, 2024 – 2032

  • Report ID: GMI3027
  • Published Date: May 2023
  • Report Format: PDF

North America Gasoline Gensets Market Size

North America Gasoline Gensets Market size valued at USD 3.8 billion in 2023 and is anticipated to grow at over 4.1% CAGR from 2024 to 2032. The market for global gasoline gensets is likely to hit USD 14.1 billion by 2032. A gasoline genset is an equipment that utilizes an engine to convert the chemical energy obtained from fuel into electrical power. Its primary function is to provide a portable power solution for households, as well as serve as a power source in construction sites and outdoor recreational activities.
 

North America Gasoline Gensets Market

Growing popularity of inverter generators in line with increasing consumer inclination toward fuel efficiency and eco-friendliness will positively sway the industry growth. The product offers vital advantages including quiet operations and less emission which in turn will boost the product penetration. The region experiences severe weather events and natural disasters, which have a significant impact on the gensets demand.

COVID– 19 Impact

The COVID- 19 pandemic has had no significant impact on the North America gasoline gensets market, which has instead experienced growth due to several factors. One of the driving forces behind this growth is the increasing consumer preference for uninterrupted power supply, particularly with the rise in remote work practices across the region. The demand for emergency electricity backup has also surged in response to the crisis, and the development of healthcare facilities has further contributed to the industry's potential.
 

North America Gasoline Gensets Market Analysis

North America Gasoline Gensets Market Size, By Power Rating,

Based on power rating, the market is segmented as < 2 kW, 2 kW - 5 kW, 6 kW - 8 kW, > 8 kW - 15 kW. The 2 kW - 5 kW rated gasoline gensets market will witness growth rate of around 4.3% by 2032. These units are gaining more traction due to the rise in power outages, the deterioration of grid infrastructure, and the escalating frequency of natural disasters. The growing inclination and awareness among consumers for dependable and cost-effective backup power solutions are contributing to the robust adoption of these units.
 

North America gasoline gensets market revenue  from > 8 kW - 15 kW rated generator sets will gain a significant growth flourishing construction section and increasing investment toward the development of commercial buildings. These units play a crucial role in providing electricity to job sites that lack access to power and are indispensable for restoring essential services. They are integral to the construction industry, supporting day-to-day operations and ensuring the successful completion of projects.
 

 North America Gasoline Gensets Market Revenue Share, By Phase,

Based on phase, the market is segmented as single phase and three phase. The three phase gasoline gensets market held approximately 30% of the industry share in 2022. Sizeable investments across the oil & gas, mining, and construction sector will strengthen the demand for high-quality reliable power supply, stimulating the industry growth. Increasing commercial and construction activities across the region will positively impact the business landscape.  
 

Based on end use, the North America gasoline gensets market is segmented as residential, commercial and construction. The valuation of residential application segment reached USD 1.5 billion in 2022. The widespread adoption of these systems in households, primarily for emergency power supply during blackouts or grid failures, is a significant driving force behind the application of these units. Furthermore, these generators serve as the primary power source in areas where grid supply is unavailable.
 

Construction application will grow on account of increasing electricity demand to operate jobsite equipment, power communication systems and provide lighting to the sites for the uninterrupted operations. Increasing electricity demand accompanied by elevating economic development and expanding urbanization will continue to escalate the product penetration.
 

U.S. Gasoline Gensets Market Size,

U.S. gasoline gensets industry is set to surpass USD 4.5 billion by 2032. Increased stringency of environmental compliances along with government norms to deploy cleaner sources of energy will augment the business landscape. Growing requirement of continuous and reliable power supply coupled with improving living standard will fuel the product demand. Increasing consumer participation in recreational activities will further propel the industry potential.
 

North America Gasoline Gensets Market Share

The key industry players operating across the North America gasoline gensets market include:

  • Cummins
  • Kirloskar
  • Briggs & Stratton
  • Champion Power Equipment
  • Westinghouse Outdoor Power Equipment
  • DuroMax Power Equipment
  • WEN Products
  • Pulsar Products,Inc
  • A-iPower Corp
  • Sportsman Series
  • Caterpillar
  • Buffalo Corporation
  • All-Power America
  • Xtremepower
  • PowerSmart.
     

North America Gasoline Gensets Industry News

  • In June 2020, Briggs & Stratton launched its new Amplify Power Management System for generators. The power management system functions by assigning the power generated by a genset to various appliances on the priority basis as per the homeowner's specific needs. Furthermore, the system facilitates the end user to control and alter the energy distribution via smartphone app to cater to the changing demands for their families and homes. For instance, the heater will automatically turn off during the day as its priority is set for nighttime.
     
  • In November 2022, Caterpillar introduced the Cat XQP115 generator set with a different power output. This modern mobile power application meets the EU stage V emission standards. The product is designed & tested by the company to achieve a 90% reduction in NO2 compared to the standard of Stage IIIA. Moreover, this genset provides an average of 20% high peak power in prime operations.
     

This North America 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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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

The above information has been provided for the following countries:

  • North America
    • U.S.
    • Canada

 

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The North America market for gasoline gensets reached USD 3.8 billion in 2023 and is estimated to surpass USD 5.5 billion by 2032 attributed to increasing consumer inclination toward fuel efficiency and eco-friendly products.

The residential application segment generated more than USD 1.5 billion in 2022 and is set to grow at a robust pace through 2032 owing to the widespread adoption of these systems in households, primarily for emergency power supply during grid failures.

The U.S. gasoline gensets market is poised to amass more than USD 4.5 billion by 2032 owing to the government norms to deploy cleaner sources.

Cummins, Kirloskar, Briggs & Stratton, Champion Power Equipment, Westinghouse Outdoor Power Equipment, DuroMax Power Equipment, WEN Products, Pulsar Products, A-iPower Corp., Sportsman Series, Caterpillar, Buffalo Corporation, All-Power America, Xtremepower and PowerSmart are the leading firms engaged in the global market.

North America Gasoline Gensets Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 19
  • Tables & Figures: 148
  • Countries covered: 2
  • Pages: 120
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