North America Gasoline Gensets Market Size, By Power Rating (<2 kVA, 2 kVA - 3.5 kVA, 3.5 kVA - 5 kVA, 5 kVA - 6.5 kVA, 6.5 kVA - 8 kVA, 8 kVA - 15 kVA, 15 kVA - 20 kVA), By Engine Class (Handheld Engines, Class I Engines, Class II Engines), By End-Use (Residential, Commercial, Construction), Industry Analysis Report, Regional Outlook, Application Potential, COVID-19 Impact Analysis, Price Trend, Competitive Market Share & Forecast, 2021 – 2027

Published Date: Jul 2021  |  Report ID: GMI3027  |  Authors: Ankit Gupta, Asmita Semwal

Report Format: PDF   |   Pages: 165   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Trends

North America Gasoline Gensets Market size was valued at around USD 1.2 billion in 2020 and the annual installation is projected to surpass 2 million units by 2027. Gasoline gensets are units deployed for portable use or intermittent backup electricity applications. These systems are majorly deployed to deliver emergency power at construction sites, households, and for outdoor leisure activities.
 

North America Gasoline Gensets Market

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Inadequate electricity supply coupled with an escalated demand for reliable and continuous power supply will strengthen North America gasoline gensets industry share. The rising intensity & frequency of weather-related disasters, leading to chronic outages will further boost the product deployment. For instance, the Tropical Storm Bertha in May 2020, resulted in power blackout across Florida and South Carolina, causing a financial damage of over USD 130,000.
 

Surging demand for power supply driven by the growing end-user participation in recreational activities will boost the 3.5 kVA - 5 kVA gasoline gensets market growth in North America

  U.S. Gasoline Gensets Market Share, By Power Rating

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North America gasoline generator sets market from 3.5 - 5 kVA segment is estimated to register over 8% CAGR through 2027. The ability of these units to efficiently meet the rising consumer power requirements, majorly across the single and multifamily households, is set to boost the market trends. The increasing need for gasoline gensets, predominantly influenced by extreme weather conditions, is set to augment product installation.
 

Accelerating disposable income coupled with enhanced living standards has heightened power demand in residential application

The growing importance of backup electricity solutions and consumer awareness of emergency readiness regarding frequent & intense power outages will propel the residential gasoline gensets market dynamics. These units provide steady and quick electricity supply for sustaining daily operations, thereby stimulating the North America gasoline gensets market share. Moreover, better economic pricing and escalated portability along with multi-use volume are a few significant features supporting the deployment of these systems.
 

The North America gasoline gensets industry from construction application is projected to witness over 17% CAGR between 2021 and 2027. Robust infrastructural expansion of residential & non-residential buildings driven by increased investments is set to further complement the business scenario. The wide spread of COVID-19 has led to swift escalation in the construction activities specifically of healthcare buildings and make-shift hospitals, thus boosting the need for these generator sets.
 

Rising end-user demand for power backup systems is set to augment the requirement for class I engine gasoline gensets

Canada Gasoline Gensets Market Value, By Engine

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North America gasoline gensets market from class I engines segment is projected to witness appreciable growth due to the rising end-user interest in purchasing lower and smaller power-rated units. These systems are viable for residential spaces as they offer economical fuel prices, favorable capital structures, and safer operations which will propel product adoption. Escalating R&D funds to meet the emission standards criteria is set to enhance the total manufacturing cost of these systems. However, aging of grid network coupled with rising awareness for electricity backup solutions will stimulate the product demand within the forecast timeframe.
 

The U.S. gasoline gensets market revenue will escalate owing to robust constructional development of commercial buildings

U.S. Gasoline Gensets Market, By End-use

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The U.S. gasoline gensets market will gain appreciable momentum owing to the ongoing proliferation of residential & commercial establishments. The rising growth is attributed to robust constructional activities powered by escalating infrastructural funding, thus triggering the demand for gasoline gensets as an essential electricity supply source. The urgency to power equipment at various job sites along with necessity of consistent power supply will further favor product deployment. Considerable investments in these units to evade the excessive expenses associated with electricity interruptions will boost the regional market statistics.
 

The inability of an electricity grid to endure an augmented demand load coupled with increasing investments for power backup solutions, and rising end-user awareness are set to accelerate the U.S. gasoline gensets market size. Moreover, the occurrence of hurricanes, particularly hurricanes - Zeta and Laura in 2020, significantly contributed to amplified product deployment. For instance, in October 2020, Zeta, the 11th storm hitting the U.S., led to a power outage in over 2.6 million homes. Similar historic events have considerably augmented the country’s dependency on gensets as an emergency readiness measure to future life-threatening weather conditions.
 

Prominent companies are focusing on strategic mergers & acquisitions to maintain market reach

Technological innovations, extended distribution service & network, emission compliances, cost competitiveness, and product differentiation are important strategies adopted by major industry players to achieve a competitive market share. Eminent companies operating in North America gasoline gensets market comprises Cummins, Kirloskar Oil Engines Limited, Briggs & Stratton, Kohler, Yamaha, Honda, Caterpillar, Honeywell International, Wacker Neuson, Deere & Company, Champion, DuroMax, FIRMAN, Westinghouse Electric Corporation, A-iPower, and Lifan Power amongst others.
 

The North America gasoline gensets market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2017 to 2027 for the following segments:

By Power Rating

  • <2 kVA
  • 2 kVA - 3.5 kVA
  • 3.5 kVA - 5 kVA
  • 5 kVA - 6.5 kVA
  • 6.5 kVA - 8 kVA
  • 8 kVA - 15 kVA
  • 15 kVA - 20 kVA

By Engine Class

  • Handheld Engine
  • Class I Engines
  • Class II Engines

By End-Use

  • Residential
  • Commercial
  • Construction

The above information has been provided for the following countries:

  • North America
    • U.S.
    • Canada
       

Frequently Asked Questions (FAQ) :

North America gasoline gensets industry value exceeded USD 1.2 billion in 2020 and will surpass an annual installation of 2 million units through 2027.
The 3.5-5 kVA gasoline gensets will register a CAGR of 8% between 2021 and 2027 due to the capability of these units to efficiently meet the surging consumer power requirements.
Construction application will depict a CAGR of 17% from 2021 to 2027 owing to the robust infrastructural expansion of residential & non-residential buildings.
The class I engine gasoline gensets will witness commendable growth driven by the increasing end-user interest in purchasing lower and smaller power-rated units.

Premium Report Details

  • Published Date: Jul 2021
  • Pages: 165
  • Tables: 109
  • Charts / Figures: 34
  • Companies covered: 19
  • Countries covered: 2

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