North America Gasoline Gensets Market size to exceed USD 1.8bn by 2027
Published Date: July 19, 2021 Authors: Ankit Gupta, Asmita Semwal
North America Gasoline Gensets Market size is anticipated to surpass USD 1.8 billion by 2027 as reported in the latest study by Global Market Insights Inc.
Chronic electric outages, inadequate power supply, and shifting end-user preferences along with robust infrastructural development will stimulate the North America gasoline gensets industry share. Increasing frequency and severity of weather-related blackouts & brownouts coupled with an escalating dependency on emergency power backup units to sustain day-to-day operations will encourage product installation. Operational aptness, lightweight, and compact size are the key features that will continue to entail the deployment of these units.
Ongoing infrastructure expansion driven by the escalating investment scenario will stimulate the 8 kVA-15 kVA gensets demand
North America gasoline gensets market from 8 kVA-15 kVA segment is projected to grow owing to restructuring and refurbishment activities driven by sizeable investments by both global & regional players. For instance, as per UNCTAD, the U.S. remained the largest recipient of FDI in 2019, amounting to USD 246 billion. Moreover, the growing demand for backup power solutions, optimum reliability, and quick start-up along with high-power necessities from off-grid or remote locations will enhance product deployment.
Browse key industry insights spread across 165 pages with 109 market data tables & 27 figures & charts from the report, “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 (U.S., Canada), Application Potential, COVID-19 Impact Analysis, Price Trend, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Economic viability and ability to cater to low power requirements predominantly from residential areas will augment the deployment of class I engines
Aging grid infrastructure and the rising customer awareness of emergency preparedness will drive the class I engines segment demand. Wide-scale applicability across single & multi-family households owing to their high operational suitability and relatively low maintenance requirements in smaller power ratings will fuel unit adoption.
Easy fuel availability and improved cost efficiency will drive product deployment across commercial applications
North America commercial gasoline gensets market from commercial end use segment is growing significantly driven by escalating deployment of backup power units for open-air leisure activities. Increasing participation of end-users in adventure travel and other recreational activities will boost the demand for RVs, creating a recurring gensets demand. Wider applicability in camping trips, Recreational Vehicle (RV) power, tailgating, and in case of sudden blackouts will augment the industry landscape.
Increasing weather severity and frequency of blackouts to fuel the demand for gasoline generator sets across the U.S.
The U.S. gasoline gensets market is estimated to grow at a CAGR of over 4% from 2021 to 2027. An optimistic outlook toward the infrastructure sector along with increasing investments and easy fuel availability will drive the demand for gasoline gensets. Subsequently, cyclical weather patterns followed by recurrent cyclones and hurricanes will continue to boost the demand for gasoline gensets across the nation. Moreover, the improved standard of living and rising disposable incomes followed by increasing consumer participation in outdoor recreational activities will also positively influence the industry trends.
Rising R&D investments along with the advent of high-end technologies are set to act as a driving force among prominent industry participants
Prominent industry participants functioning across the North America gasoline gensets market include Briggs & Stratton, Cummins, Generac, Kohler, Yamaha, Caterpillar, Honda, Atlas Copco, John Deere, Wacker Neuson, Champion, FIRMAN, DuroMax, Westinghouse Electric Corporation, Lifan Power, WEN Products, and A-iPower amongst others.