U.S. Residential Generators Market Outlook 2034: Projected to Reach USD 1.8 Billion by 2034, Growing at a 4.5% CAGR from 2024

The U.S. residential generators market (Marché américain des générateurs résidentiels) was valued at US$ 1.1 billion in 2023. It is projected to grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2034, reaching US$ 1.8 billion by the end of 2034.

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Analyst Viewpoint

The rise in power outages due to extreme temperatures and severe thunderstorms is significantly boosting the U.S. residential generators market. Additionally, the increasing demand for clean power backup solutions is propelling market dynamics, with natural gas generators becoming more popular due to concerns about environmental pollution and carbon emissions.

However, the growth of the residential sector in the U.S. is slowing down due to rising mortgage rates, inflation, labor shortages, and supply chain issues, which may limit the demand for residential generators to some extent. Nevertheless, ongoing R&D efforts to develop affordable and automatic generators are expected to offer lucrative opportunities for market players.

Market Introduction

Residential generators provide backup or even primary power for various home appliances during outages and are suitable for remote areas. These generators come in stationary (standby) and portable types.

Types of Generators

Stationary Generators: Permanently installed outside homes, offering high fuel capacity (400-600 liters) and reliability during extended outages.
Portable Generators: Compact and easy to move, running on gas or propane, suitable for short-term power outages.
Inverter Generators: Gaining popularity for charging electronic devices like mobile phones and laptops.

Key Drivers

Rise in Cases of Power Outages:

Many U.S. states, including Alabama and Florida, face high power disconnection rates due to extreme heat and thunderstorms.
Virginia declared a state of emergency in May 2024 due to severe weather causing power outages.
Increased use of air conditioners has heightened the electricity demand, augmenting the need for residential generators.
Growth in Demand for Clean Power Backup Solutions:
Diesel generators are reliable but face declining demand due to pollution concerns.

Natural gas generators are cleaner and gaining traction as manufacturers offer air-cooled and liquid-cooled whole-house natural gas backup generators.
The U.S. residential construction sector saw a decline, which may limit market growth.

Key Players

Key players in the U.S. residential generators market are offering rental services and a wide range of products and services, including diesel, gas, and propane generators, along with installation, maintenance, and refueling services.

Notable companies include:

Generac Power Systems, Inc.
Cummins Inc.
Caterpillar
HIMOINSA
Kohler Co.
Atlas Copco AB
Siemens
Honeywell International Inc.
Yamaha Generators
Honda Motor Co., Ltd.
Briggs & Stratton

Notable Developments

2023: Caterpillar launched the Cat XQ330 portable diesel generator set, meeting U.S. EPA Tier 4 Final emission standards.
2022: Generac Power Systems, Inc. introduced two new Powermate dual-fuel portable generators.

Market Segmentation

By Type

Stationary
Portable

By Fuel

Gasoline
Diesel
Gas
Others

By Power Rating

Less than 20 kVA
20 kVA - 50 kVA
50 kVA - 100 kVA
More than 100 kVA

By Application

Prime Mover
Standby

Regions Covered

U.S.
Quantitative Units

US$ Billion for Value
Units for Volume

Market Analysis

Segment analysis

Qualitative analysis (drivers, restraints, opportunities, key trends, Porter's Five Forces Analysis, value chain analysis, and key trend analysis)
Market share analysis by company (2023)
Company profiles (overview, product portfolio, sales footprint, key subsidiaries or distributors, strategy, recent developments, and key financials)

Market Snapshot

Market Size in 2023: US$ 1.1 Bn
Market Forecast (Value) in 2034: US$ 1.8 Bn
Growth Rate (CAGR): 4.5%
Forecast Period: 2024-2034
Historical Data Available for: 2020-2022
Quantitative Units: US$ Bn for Value and Units for Volume
Format: Electronic (PDF) + Excel
The U.S. residential generators market (米国の住宅用発電機市場) is poised for steady growth driven by rising power outages, increasing demand for clean power solutions, and technological advancements in generator design and fuel efficiency. However, market growth may be moderated by economic factors affecting the residential construction sector.

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