Gasoline Generator Market to Witness Steady Growth at 3.7% CAGR During 2017 - 2027
Type – Global Gasoline Generator Market is all About Portable Generators
The global gasoline generator market is essentially the portable generator market as the latter has a market share of more than 97%. Portable generators will nonetheless gain 30 BPS by 2027 and it would not be surprising if major players decided to overlook stationary generators entirely. More than 610,000 portable generator units were sold in 2016 alone as portable generators are perfect for a number of end users in the commercial, industrial, and residential sectors.
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Power Output – 1 to 3 KW Generators Have Maximum Charge in Gasoline Generator Market
The 1 to 3 KW segment is poised to dominate the gasoline generator market in terms of power output throughout the duration of the forecast period. The 1 to 3 KW generators are on track to be worth more than US$ 520 million by end 2027, making it larger than all other generators combined in the gasoline generator market. 1 to 3 KW generators are mainly utilized in the commercial and residential sector. A rising population coupled with greater affluence and increased power outages should boost the demand for these generators.
Application – Gasoline Generators Serve the Urgent Need of Standby Backup Power
The standby backup power segment is far more critical than continuous power in the gasoline generator market. Standby backup power has a market attractiveness index of 5.0 and this is estimated to continue for the foreseeable future. Global grids are unable to keep up with the surging demand for power leading to frequent cases of rolling blackouts, especially in emerging economies. Furthermore, new backup power generators loaded with features such as wireless monitors and remote monitoring systems are entering the gasoline generator market, encouraging adoption.
End Use – Prioritise Residential Users over All Others in Gasoline Generator Market
Gasoline generators are preferred by residential users over diesel generators because of their lower comparative cost. In addition to this, gasoline generators are compact and air cooled, both of which are particularly desired by residential end users in the gasoline generator market. The residential end use segment is projected to record the highest CAGR of 3.9% by value from 2017 to 2027 in the gasoline generator market.
Region – Focus on North America in the Gasoline Generator Market
North America accounts for more than 1/3rd share of the global gasoline generator market in 2017 and is unlikely to cede this strong position to APEJ anytime soon. An incremental dollar opportunity of more than US$ 110 million exists in North America between 2017 and 2027 that can be mainly attributed to non-residential construction activities in the U.S., supported by large infrastructural investments.
Competition Dashboard in the Gasoline Generator Market
The companies profiled in the gasoline generator market report are Kohler Co., Honda Motor Co. Ltd., Generac Power Systems, Yamaha Motor Co., SGS Engineering, Hyundai Power Equipment, Stephill Generators Ltd., Champion Power Equipment, Stanley Black & Decker, Techtronic Industries, Briggs & Stratton Corporation, WEN Products, Lifan Power USA, A-iPower, Westinghouse Electric Corporation, Honeywell International Inc., Zhejiang Wanhao Machine Science and Technology Co. and Nidec Corporation.
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Key Insights on the Gasoline Generator Market
Companies have to optimise their value chain to enhance and strengthen their presence in the global gasoline generator market. Innovation is critical as the gasoline generator market is brutally competitive with smaller players struggling to make their mark. Noise and weight reduction in portable gasoline generators can be a game-changer along with developing products that are cost-effective. All these factors will further the penetration of gasoline generators in the residential sector of the gasoline generator market.
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