Gasoline Genset Market in North America to exceed $1.5 bn by 2024
Published Date: December 7, 2018 Authors: Ankit Gupta, Aditya Singh Bais
North America Gasoline Genset Market size will surpass USD 1.5 Billion by 2024, as reported in the latest study by Global Market Insights, Inc.
Prolonged power outages, increased consumer awareness, fragile power grid systems, and elevating power demand are amongst the most instrumental trends that will stimulate the North America gasoline genset market size. Increased stringency of emissions standards and growing weather-related power outage activity will further impact the industry growth.
The U.S. gasoline genset market is anticipated to expand over 4% by 2024. Growing severity and frequency of weather-related disasters will strengthen the product adoption across the country as an emergency backup power solution. The adoption of these units will continue to gain significant momentum as the climate change increases the frequency and the intensity of weather disasters.
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2 kVA -3.5 kVA gasoline genset market size is set to exceed an annual shipment of 800 thousand units by 2024. The ability of these gensets to adequately cater to consumer power requirements, predominantly across residential establishments will favor their incursion in the industry. Operational suitability, light weight, and compactness are some of the major features accelerating the deployment of these units.
Canada gasoline genset market is set to witness robust growth on account of increased risk awareness and growing implementation of preparedness measures amongst consumers to combat natural calamities. Prolonged power supply interruptions predominantly on account of sleet storms, freezing rain, and high winds which destruct power lines and equipment will continue to boost product deployment in the country.
Browse key industry insights spread across 148 pages with 122 market data tables & 2 figures & charts from the report, “North America Gasoline Genset 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, 15kVA-20kVA), By Engine Class (Handheld Engines, Class I Engines, Class II Engines), By End-Use (Residential, Commercial, Construction), Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
North America residential gasoline genset market is anticipated to expand over 4% by 2024. The consumer demand for these products may be attributed to responses to events including power outages caused by weather-related disasters, rolling blackouts, grid failures, etc. For instance, an extremely active Atlantic hurricane season during 2017, significantly created a surge in demand for these gensets as a result of landed hurricanes in Florida, Texas, and Puerto Rico.
Increasing reliance on electronics and electrical equipment to sustain the day to day operations across a multitude of end users will accelerate the North America gasoline genset market growth. Strengthening customer demand for increased reliability and zero downtime will continue to entail the sturdy and prevalent deployment of these gensets.
North America Class I engines gasoline genset market is set to grow over 5% by 2024. Growing consumer inclination toward purchasing smaller units driven by increased awareness toward emergency preparedness will fuel the product adoption. The regional industry has been dominated by smaller engines (handheld and class I engines) as there has been an apparent shift toward lesser powerful units.
Key participants of the North America gasoline genset market comprise Caterpillar, Cummins, Briggs & Stratton, Generac, Kohler Power, Honda Motor, Atlas Copco, Wacker Neuson, Honeywell, John Deere, and Kirloskar amongst others.
North America gasoline genset market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2013 to 2024, for the following segments:
North America Gasoline Genset Market, 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
North America Gasoline Genset Market, By Engine Class
- Handheld Engines
- Class I Engines
- Class II Engines
North America Gasoline Genset Market, By End Use
The above information is provided on a country basis for the following: