Global Gasoline Gensets Market size will surpass USD 4 Billion by 2025 a Comprehensive Analysis report

Global Gasoline Gensets Market size will surpass USD 4 Billion by 2025, as reported in the latest study by Global Market Insights, Inc.

Growing demand for backup power and rising consumer awareness toward emergency preparedness measures to combat intensifying and frequent electrical outages will boost the global gasoline gensets market growth. These gensets predominantly serve the purpose of portable or intermittent backup power solutions. Affordable power, easier fuel availability, simpler operation, and high portability are some of the key features that will stimulate the product penetration in the coming years.

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The U.S. gasoline gensets market, in 2018 recorded an annual sale of over 1.5 million units. Increasing frequency and intensity of weather-related disasters leading to prolonged outages will boost the product adoption in the country. The industry has witnessed a dramatic upsurge in the last several years as Hurricane Sandy, Tropical Storm Irene, and other severe storms had led to extensive electrical failures. Moreover, aging grid infrastructure coupled with deteriorating grid resiliency will further complement the industry expansion.

Strengthening consumer inclination toward purchasing compact units will drive the 2kVA-3.5kVA and 3.5kVA-5kVA gasoline gensets market growth. Growing preference for units with smaller surface footprint, and easier portability will sustain the dominance of smaller power rated gensets. Light weight, operational suitability, and compactness are the major features encouraging the use of these units.

The construction gasoline gensets market size is predicted to grow over 5% from 2019 to 2025. The sector is poised to grow on account of sizeable investments in infrastructure development, most notably across the emerging economies. For instance, the growth in the Southeast Asia is being driven by investment across new infrastructure ventures, with subsequent expansion in construction of buildings across the residential and non-residential sectors.

Research Methodology

The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:

• Definition and scope of research
• Market dynamics, growth drivers and industry pitfalls
• Regulatory and political guidelines for the industry
• Demographics and statistical data

All the above factors are identified and analyzed in detail, with their present and expected market impact, which is quantified and used to derive market growth expectation. Market forecast is built using statistical analysis with models built around time-variance, regression and correlation analytics.

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Significant emphasis is put on primary research, which serves the dual role or not only validating our findings but also obtaining penetrating market insights, which help us gain more clarity regarding business environment and competitive leverage. Notable participants in our primary research process include:

• Leadership figures such as CEOs, CSOs, VPs etc. in key companies
• Supply-chain participants, distributors and domain experts
• Key customers and B2B clients

Residential sector, in 2018 held over 50% of the global gasoline gensets market size. These gensets are operated across households when there is a temporary disruption in the main grid or other primary supply of electrical power. Increasing severity of weather outages and intensifying load on the utility power supply along with growing consumer awareness toward backup power solutions will drive the industry growth across the sector.

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Three-phase gensets market size is anticipated to expand over 5% by 2025. Three-phase gensets are commonly installed across commercial environments and industrial power applications. Invariable power supply, high flexibility, and appreciable material efficiency are some of the distinguishing features supporting the product adoption.

Nigeria gasoline gensets market size is set to exceed USD 40 million by 2025. The inadequacy of utility grids to cater to the burgeoning population has firmly gripped the country, thereby entailing the extensive usage of these gensets. In addition, high electricity prices, poor transmission & distribution networks, and rapid population growth are driving a strong demand for these units in the country.

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