Gasoline Gensets Market size to exceed USD 5bn by 2027
Published Date: March 22, 2021 Authors: Ankit Gupta, Asmita Semwal
Gasoline Gensets Market size is anticipated to surpass USD 5 billion by 2027, as reported in the latest study by Global Market Insights, Inc.
Chronic power outages, inadequate electricity supply, shifting consumer preferences coupled with ongoing infrastructural expansion is set to augment the global gasoline gensets industry. Growing severity and frequency of weather-related brownouts and blackouts along with intensifying dependency on emergency power solutions to sustain daily operations will continue to entail the deployment of these units. Light weight, operational aptness, and compactness are the prime features encouraging the installation of these units.
Ongoing construction boom and infrastructure development are emerging as the key trends shaping the 8 kVA-15 kVA gasoline gensets market statistics
8 kVA-15 kVA gasoline gensets industry size is anticipated to rise as a consequence of sustainable development of the real estate business driven by sizeable investments by both regional and global authorities. For instance, in 2019, as per the UNCTAD’s World Investment Report, FDI flows to Asia amounted to over USD 474 billion, with major gains across South East Asia, China and India. Moreover, strengthening demand for power backup solutions with quick start-up and optimum reliability along with high-power requirements from remote and off-grid areas will further expand the product deployment.
Browse key industry insights spread across 450 pages with 694 market data tables & 44 figures & charts from the report, “Gasoline Gensets Market Analysis 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), Phase (Single Phase, Three Phase), End Use (Residential, Commercial, Construction), Regional Outlook, Industry Analysis Report, Application Development Potential, Price Trend, Competitive Market Size & Forecast, 2021 – 2027” in detail along with the table of contents:
Economic viability to cater to the low power requirements primarily across the residential applications will strengthen the demand for single phase gasoline gensets
Growing customer awareness along with faulty grid infrastructure is set to drive the expansion of the single-phase gasoline generator sets market. Wider applicability across residential applications owing to their relatively low maintenance requirements and operational suitability for smaller power range will fuel the product implementation.
Improved cost efficiency and easy fuel availability will drive the product adoption across commercial applications
Increasing adoption of backup power solutions for open-air recreational events will augment the commercial gasoline gensets market statistics. Progressing consumer preference toward leisure activities and other adventure travel will boost the demand for RVs, thus creating recurring demand for these gensets. Moreover, large-scale applicability in Recreational Vehicle (RV) power, camping trips, tailgating, and sudden blackouts is set to fuel the industry landscape.
Increasing weather severity and frequency of blackouts is projected to fuel the demand for gasoline gensets across North America
Europe gasoline gensets market is projected to register over 4% CAGR through 2027. The optimistic outlook towards the construction sector driven by rising infrastructure investments along with low oil prices and easy fuel availability will enhance the demand for gasoline gensets across Europe. Subsequently, the trend of new housing construction will continue to boost the demand for these generator sets across the region.
Rising R&D investments along with advent of high-end technologies is set to act as a driving force for prominent industry participants
Prime industry players functioning across global gasoline gensets market comprises Cummins, Briggs & Stratton, Kohler, Generac, Yamaha, Honda Motor, Armstrong Power, Caterpillar, Atlas Copco, Wacker Neuson, John Deere, Zhejiang Wanhao Machinery Technology, WEN Products, Champion Power Equipment, JET Power, DuroMax Power Equipment, and Firman Power Equipment amongst others.