The global gasoline generator market is estimated to surpass a valuation of USD 768.8 Mn in 2022. Increasing adoption of gasoline generators to address the need for electricity across areas where power outages and rolling blackouts are frequent is expected to drive the market.
| Attribute | Details |
|---|---|
| Gasoline Generator Market Estimated Size in 2022 | USD 768.8 Mn |
| Gasoline Generator Market Projected Size in 2029 | USD 994.6 Mn |
| Gasoline Generator Market Historical CAGR (2014 to 2021) | 3.3% |
| Gasoline Generator Market Value-based CAGR (2022 to 2029) | 3.7% |
As Future Market Insights (FMI), sales in the global gasoline generator market are anticipated to top USD 994.6 Mn, rising at a CAGR of 3.7% during the forecast period 2022 to 2029.
Among the end use category, the residential sector is anticipated to lead the market, accounting for nearly 60% of the total gasoline generator sales through 2029. North America is projected to emerge as the most lucrative market for gasoline generators, accounting for over 34.4% of the total demand by 2022.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 3.7% |
| H1,2022 Projected (P) | 3.8% |
| H1,2022 Outlook (O) | 4.0% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 34 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 25 ↑ |
According to Future Market Insights, a comparison and review study will be conducted on the trends and dynamics of the global market for Gasoline Generators. This market is primarily driven by the need for electricity across areas where power outages and rolling blackouts are frequent.
According to the FMI study, there will be a 25-unit increase in the change in BPS values observed in the market for Gasoline Generator in H1, 2022 - Outlook compared to the first-half 2021 actual. The market is anticipated to fall by 34 basis points from the earlier predictions for the first half of 2022.
This positive variation is due to the governmental activities in several countries putting more of a priority on creating sustainable infrastructures and urbanizing rural areas as a result of the world's rising urbanization, which is spurring the demand for power supply equipment.
Construction activity is increasing quickly across the United States as sustainable infrastructure development is becoming increasingly important. For instance, the United States Government has announced some construction projects, including the Chandler Campus Expansion and Plaquemines LNG Facility Creation Projects, as the first steps towards the development of sustainable infrastructure.
To take advantage of the growing demand from various end-use sectors, major players in the global gasoline generators market are working to produce revolutionary portable products that are silent and small in size.
The demand in the global gasoline generator market grew at a CAGR of 3.3% over the past between 2014 and 2021. As per the report, sales are expected to accelerate by 1.34x between 2022 and 2029.
Gasoline generators are machines that convert the chemical energy of petrol into electrical or mechanical energy. They are increasingly being used as an emergency power backup mechanism in industrial and residential settings, which is in turn, favoring the growth in the market.
In addition, shifting consumer preference towards gasoline generators from diesel generators, owing to their cost-effectiveness, compact size, and low cost of maintenance is bolstering sales in the market.
Driven by this, gasoline generators accounted for around 38% of the sales in the global generator market in 2020.
Principal Consultant
With rapid urbanization across the world, governments in various countries are increasingly focusing on developing sustainable infrastructures and urbanizing rural areas, which in turn is spurring demand for power supply machineries.
For instance, according to the Department of Economic Affairs, the Government of India announced allocating USD 103 Bn for construction of rural housing, rural roads, and drinking water infrastructure development under the country’s 5-year plan from 2022 to 2025.
As gasoline generators are extensively used to power instruments and machines at construction sites, especially across rural area where power supply from the mainline is not accessible, this rise in rural infrastructure development activities are projected to augment growth in the market.
On account of this, the gasoline generator market is expected to exceed USD 994.6 Mn by 2029, in comparison to the USD 741 Mn registered in 2021.
Rising incidence of natural disasters such as floods, cyclones, and hurricanes is being witnessed across the globe, which is significantly propelling sales of disaster management equipment such as gasoline generators.
For instance, according to the Australian Bureau of Meteorology, around 27 tropical lows, 8 tropical cyclones, and 2 severe cyclones were reported across Australia, causing damage of more than USD 518.7 Mn between 2020 and 2021.
With destroyed power supply infrastructure across the impacted areas post these disasters, gasoline generators are increasingly used to provide electricity for necessities in recovery, rehabilitation, and restoration camps.
As per FMI, the aforementioned factors are projected to drive sales in the gasoline generators market over the forecast period.
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“Introduction of Novel Electric Vehicles Integrated with Gasoline Generators Will Bolster Sales”
China is estimated to emerge as a lucrative pocket in Asia Pacific. Sales in the Asia Pacific gasoline generators market are forecast to hold more than 26% of the total market share in 2022.
As the trend of electrification continues to create deeper inroads, demand for electric vehicles is rising in China. Hence, leading automotive manufacturers are focusing on integrating advanced gasoline generators to increase the driving distance.
For instance, EZGO Technologies Ltd, a China-based short-distance transportation solutions provider launched a new range-extended electric scooter named Cenbird in 2021. The electric scooter integrates a high-performance gasoline generator to extend the driving distance up to 350 km before refueling.
“Rising Construction Activities in the USA. Will Drive Gasoline Powered Generator Sales”
FMI projects the USA. to continue dominating the North America gasoline generator market over the assessment period 2022 to 2029.
With growing emphasis on sustainable infrastructure development, construction activities across the USA. are rising at a rapid pace. For instance, the USA. Government has announced undertaking number of construction projects such as Water Purification Facility, Chandler Campus Expansion, and Plaquemines LNG Facility development projects among others as initial steps towards sustainable infrastructure development.
As unprecedented power outages at construction sites cause damage to equipment and machinery, gasoline powered generators are increasingly being adopted across infrastructure development projects to provide continuous power supply. Driven by this, sales in the North America gasoline generators market are forecast to account for 34.4% of the total market share in 2022.
“Aging Grid Infrastructure to Fuel the Demand for Gasoline Portable Generators”
Sales in the Germany market are projected to increase at a robust pace over the forecast period, opines FMI. The Europe gasoline generators market will account for 29.9% of the total market share in 2022.
Aging power generation, distribution, and transmission infrastructure is the primary factor causing power outages and rolling blackouts. This is resulting in increasing adoption of gasoline portable generators across hotels, offices, homes.
Also, increasing demand for continuous power supply across rapidly expanding industrial and commercial sectors is projected to further bolster the growth in the Germany market.
“Increasing Frequency of Power Cuts and Grid Failures to Accelerate the Sales of Petrol Generators”
As per FMI, the standby backup power segment is anticipated to account for a significant share in the global gasoline generator market over the forecast period.
Rising incidence of power cuts, power outages, weather-related calamities, and grid failures have resulted in increasing adoption of power backup providing equipment such as petrol generators across commercial and residential sectors. This is expected to continue driving sales in this segment over the forecast period.
“Portable Generator Segment to Account for the Maximum Gasoline Generator Sales”
On the basis of type, the global gasoline generator market is segmented into portable generator and stationary generator. FMI projected demand in the portable gasoline generators segment to remain high over the assessment period.
Increasing application of gasoline generators for providing power supply across different construction sites and agricultural areas owing to the lack mainline power supply will boost sales in this segment.
“Growing Adoption Across Recreational Activities to Elevate the Gasoline Powered Generators Demand”
Under the power output category, 3.0 to 5.0 KW producing gasoline generators are forecast to remain highly sought-after in the market, registering prominent growth through 2029. Increasing usage of gasoline powered generators for providing continuous power supply in remote locations for recreational activities is spurring demand.
Among the end-use sectors, the residential sector is projected to account for more than 60% of the gasoline generator demand by 2029. Shifting customer preference towards adopting gasoline powered generators from diesel generators as backup power sources, owing to its compact size and low cost is favoring the growth in the segment.
Leading players operating in the global gasoline generators market are aiming at developing novel silent and compact size portable products to capitalize on the surging demand from diverse end-use industries. For instance:
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2029 |
| Historical Data Available for | 2014 to 2021 |
| Market Analysis | USD Mn for Value |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East & Africa |
| Key Countries Covered | The USA, Canada, Germany, the UK, France, Italy, Spain, Poland, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Vietnam, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, South Africa |
| Key Segments Covered | Power Output, Type, Application, End Use, and Region |
| Key Companies Profiled | Kohler Co.; Honda Motor Co., Ltd.; Generac Power Systems, Inc.; SGS Engineering (UK) Ltd.; Hyundai Power Equipment; Stephill Generators Ltd.; Yamaha Motor Co., Ltd.; Champion Power Equipment, Inc.; Others |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The gasoline generator market is expected to surpass a valuation of USD 768.8 Bn in 2022
The global gasoline generator market grew at a 3.3 % CAGR between 2014 to 2021.
The gasoline generator market is expected to register steady growth, expanding a 3.7% CAGR between 2022 and 2029.
North America is estimated to lead the global gasoline generator market, accounting for more than 34.4% of the overall sales through 2029.
Europe gasoline generator market will hold a more than 20.9% of the global share over the assessment period 2022 to 2029.
In terms of end use, the residential segment is expected to account for around 60% of the total gasoline generator sales market in 2022.
1. Executive Summary 2. Market Introduction 3. Market Viewpoint 4. Global Gasoline Generator Market Analysis 2014 to 2021 and Forecast 2022 to 2029 5. Forecast Factors: Relevance and Impact 6. Global Gasoline Generator Market Analysis 2014 to 2021 and Forecast 2022 to 2029, By Type 6.1. Portable Generator 6.2. Stationary Generator 7. Global Gasoline Generator Market Analysis 2014 to 2021 and Forecast 2022 to 2029 By Power Output 7.1. Less than 1.0 KW 7.2. 1.0 to 3.0 KW 7.3. 3.0 to 5.0 KW 7.4. More than 5.0 KW 8. Global Gasoline Generator Market Analysis 2014 to 2021 and Forecast 2022 to 2029 By Application 8.1. Standby Backup Power 8.2. Continuous Power 9. Global Gasoline Generator Market Analysis 2014 to 2021 and Forecast 2022 to 2029 By End Use 9.1. Commercial 9.2. Residential 9.3. Industrial 9.4. Agricultural 10. Global Gasoline Generator Market Analysis 2014 to 2021 and Forecast 2022 to 2029 By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. Asia Pacific Excl. Japan 10.6. Japan 10.7. Middle East & Africa 11. North America Gasoline Generator Market Analysis 2014 to 2021 and Forecast 2022 to 2029 12. Latin America Gasoline Generator Market Analysis 2014 to 2021 and Forecast 2022 to 2029 13. Western Europe Gasoline Generator Market Analysis 2014 to 2021 and Forecast 2022 to 2029 14. Eastern Europe Gasoline Generator Market Analysis 2014 to 2021 and Forecast 2022 to 2029 15. Asia Pacific Excl. Japan Gasoline Generator Market Analysis 2014–2021 and Forecast 2022 to 2029 16. Japan Gasoline Generator Market Analysis 2014 to 2021 and Forecast 2022 to 2029 17. Middle East & Africa Gasoline Generator Market Analysis 2014 to 2021 and Forecast 2022 to 2029 18. Competition Landscape 18.1. Kohler Co. 18.2. Honda Motor Co. Ltd. 18.3. Generac Power Systems, Inc. 18.4. Yamaha Motor Co., Ltd. 18.5. SGS Engineering (UK) Ltd. 18.6. Hyundai Power Equipment 18.7. Stephill Generators Ltd. 18.8. Champion Power Equipment, Inc. 18.9. Stanley Black & Decker, Inc. 18.10. Techtronic Industries Co., Ltd. 18.11. Briggs & Stratton Corporation 18.12. WEN Products 18.13. Lifan Power USA 18.14. A-iPower 18.15. Westinghouse Electric Corporation 18.16. Honeywell International Inc. 18.17. Zhejiang Wanhao Machine Science and Technology Co., Ltd. 18.18. Nidec Corporation 19. Assumptions and Acronyms Used 20. Research Methodology
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Gasoline Generator Market
