Gasoline Gensets Market Size, Share, Growth Analysis, By Power rating(< 2 kW, 2 kW - 5 kW), By Phase(Single, Three), By End-user(Residential, Commercial) - Industry Forecast 2024-2031

Q: What is the global market size of Gasoline Gensets Market ?

Global Gasoline Gensets Market size was valued at USD 100 billion in 2022 and is poised to grow from USD 112 billion in 2023 to USD 277.31 billion by 2031, growing at a CAGR of 12% during the forecast period (2024-2031).

Q: Who are the key vendors in the Global Gasoline Gensets Market ?

The competitive landscape of the gasoline gensets market is characterized by intense rivalry among key players vying for market share. Companies are focusing on innovation to develop more efficient and environmentally friendly genset solutions. 'Kirloskar (India)', 'Cummins (US)', 'Briggs & Stratton (US)', 'Kohler Co. (US)', 'Generac Power Systems (US)', 'Caterpillar (US)', 'Atlas Copco AB (Sweden)', 'Honda Motor Co. (Japan)', 'Champion Power Equipment (US)', 'Deere & Company (US)', 'Wacker Neuson SE (Germany)', 'Yamaha Motor Co. (Japan)', 'DuroMax Power Equipment (US)', 'JET POWER (China)', 'Honeywell International (US)' .

Q: What is the key driver of Global Gasoline Gensets Market ?

One major driver in the gasoline gensets market is the increasing frequency and duration of power outages worldwide. Factors such as extreme weather events, aging grid infrastructure, and the need for uninterrupted power supply in critical applications like healthcare and data centers are compelling businesses and households to invest in gasoline gensets as reliable backup power sources.

Q: What is the key market trend for Global Gasoline Gensets Market ?

Decentralized Energy Generation: One major key market trend is the shift towards decentralized energy generation. Increasingly, businesses and homeowners are adopting gasoline gensets and other distributed energy resources to reduce their reliance on centralized grids and ensure reliable power supply. This trend is driven by the desire for energy independence, greater resilience against grid failures, and the availability of advanced genset technologies that offer efficient, cleaner, and quieter power generation solutions. As the world embraces decentralized energy, gasoline gensets are playing a crucial role in this evolving energy landscape.

Q: Which region accounted for the largest share in Global Gasoline Gensets Market ?

North America is currently dominating the gasoline gensets market. This dominance is primarily driven by the widespread adoption of backup power solutions, particularly in the United States and Canada. The reliability of gasoline gensets during extreme weather events, coupled with the need for continuous power in residential, commercial, and industrial settings, has fueled their prominence in the region.

Report ID: SQMIG10E2023 | Region: Global | Published Date: April, 2024
Pages: 178 | Tables: 90 | Figures: 71

Gasoline Gensets Market News

In August 2022, Cummins Inc. partnered with Gruel, a manufacturer of generators with over 45 years of experience in the power market. The partnership allowed the strategic growth of both companies and the installation of a new range of generator products with small power ratings. The partnership augmented the revenues of both companies and propelled their growth in the gasoline gensets market.
In June 2022, Kirloskar launched the new i-green series generators. This 2.0 series is equipped with the R550 series engines, which are fuel efficient and equipped with high-power quality. The products offer key benefits including remote monitoring and self-diagnostics. These new products strengthened the company's growth and its market presence worldwide.

Gasoline Gensets Market Report Snapshots

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FAQs

Gasoline Gensets Market size was valued at USD 100 billion in 2022 and is poised to grow from USD 112 billion in 2023 to USD 277.31 billion by 2031, growing at a CAGR of 12% during the forecast period (2024-2031).

The competitive landscape of the gasoline gensets market is characterized by intense rivalry among key players vying for market share. Companies are focusing on innovation to develop more efficient and environmentally friendly genset solutions. 'Kirloskar (India)', 'Cummins (US)', 'Briggs & Stratton (US)', 'Kohler Co. (US)', 'Generac Power Systems (US)', 'Caterpillar (US)', 'Atlas Copco AB (Sweden)', 'Honda Motor Co. (Japan)', 'Champion Power Equipment (US)', 'Deere & Company (US)', 'Wacker Neuson SE (Germany)', 'Yamaha Motor Co. (Japan)', 'DuroMax Power Equipment (US)', 'JET POWER (China)', 'Honeywell International (US)'

One major driver in the gasoline gensets market is the increasing frequency and duration of power outages worldwide. Factors such as extreme weather events, aging grid infrastructure, and the need for uninterrupted power supply in critical applications like healthcare and data centers are compelling businesses and households to invest in gasoline gensets as reliable backup power sources.

Decentralized Energy Generation: One major key market trend is the shift towards decentralized energy generation. Increasingly, businesses and homeowners are adopting gasoline gensets and other distributed energy resources to reduce their reliance on centralized grids and ensure reliable power supply. This trend is driven by the desire for energy independence, greater resilience against grid failures, and the availability of advanced genset technologies that offer efficient, cleaner, and quieter power generation solutions. As the world embraces decentralized energy, gasoline gensets are playing a crucial role in this evolving energy landscape.

North America is currently dominating the gasoline gensets market. This dominance is primarily driven by the widespread adoption of backup power solutions, particularly in the United States and Canada. The reliability of gasoline gensets during extreme weather events, coupled with the need for continuous power in residential, commercial, and industrial settings, has fueled their prominence in the region.

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Gasoline Gensets Market Size, Share, Growth Analysis, By Power rating(< 2 kW, 2 kW - 5 kW), By Phase(Single, Three), By End-user(Residential, Commercial) - Industry Forecast 2024-2031

Gasoline Gensets Market News

Gasoline Gensets Market Report Snapshots

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FAQs

What is the market size of Gasoline Gensets Market?

Who are the key vendors in the Gasoline Gensets Market?

What is the key driver of Gasoline Gensets Market?

What is the key market trend for Gasoline Gensets Market?

Which region accounted for the largest share in Gasoline Gensets Market?

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