Residential Generators Market Outlook – 2030
The global residential generators market size was valued at $9.5 billion in 2020, and is projected to reach $15.1 billion by 2030, growing at a CAGR of 4.7% from 2021 to 2030. Residential generators are utilized to provide temporary power when there is a power outage in a distant place. These generators have a power output range of 1–0kW and can run on a variety of fuels, including diesel, gasoline, biodiesel, propane, and natural gas. The generator sets are extensively used for domestic and commercial applications, including in-house power backup, commercial events, live shows, tailgate events, concerts, market complex, machines & tools at constructions sites, and others. Easy mobility and conventional fuel sources make portable generators an ideal choice for temporary electricity generation among end users. In the coming years, demand for low-emission natural gas is projected to change the fuel sources utilized in generators. Furthermore, the industry is expected to benefit from changes in lifestyle and choice patterns for domestic essentials that require increased power usage.
The growth of the residential generators is attributed to the unreliability of power grids. Furthermore, places prone to natural disasters and sudden power disruptions drive the demand for portable generators in the residential generators market. The most common portable generators used by residential end users have a power output of up to 6 kW. In emergency scenarios, such generators are utilized in homes to power a variety of appliances such as lights, freezers, sump pumps, heaters, TVs, water purifiers, and air conditioners. Portable generators are also utilized for tailgating, camping, and a variety of other activities.
The residential generators market is segmented into type, fuel type, power rating, and region. By type, the market is bifurcated into stationary and portable. By fuel type, it is divided into gasoline, diesel and others. By power rating, it is fragmented into less than 4 KW, 4- 8 KW, 8-17 KW, and more than 17 KW. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include Atlas Copco AB, Briggs & Stratton Corporation, Caterpillar Inc., Champion Power Equipment, Inc., Cummins Inc., Eaton Corporation PLC, Generac Holdings Inc., Honda Motor Co Ltd, Kohler Co., and Scott's Emergency Lighting. The global residential generators market report provides in-depth competitive analysis as well as profiles of these major players.
Global Residential Generators Market, By Type
By type, the portable generators segment dominated the residential generators market in 2020, and is projected to remain the fastest-growing segment during the forecast period. Multipurpose use of portable generators attracts the manufacturers and customers. Portable generators are growing in popularity in the U.S. residential generators market.
By Fuel Type
Diesel is projected as the most lucrative segment.
Global Residential Generators Market, By Fuel Type
By fuel type, the diesel segment is expected to be the largest contributor during the forecast period. Diesel portable generators are majorly used for temporary, intermittent, or low-load applications.
By Type
Portable are projected as the most lucrative segment.
Global Residential Generators Market, By Power Rating
By power rating, 4- 8 KW segment is expected to be the largest contributor during the forecast period. The 4- 8 KW portable generators are used for power applications such as pumps, air conditioners, drills, high-pressure washers, and industrial motors (up to 3 hp).
By Power Rating
4- 8 KW is projected as the most lucrative segment.
Global Residential Generators Market, By Region
By region, Asia-Pacific is expected to account for the largest market size during the forecast period. Asia Pacific is anticipated to experience rapid growth on account of the increasing manufacturing sector in numerous countries including Malaysia, China, India, Australia, and South Korea. Government initiatives to provide electricity in rural areas are anticipated to play a major role in stimulating the residential gas generators market growth.
By Region
Asia-Pacific is projected as the most lucrative market.
Key Benefits For Stakeholders
- The report provides an in-depth analysis of the residential generators market trends along with the current and future market forecast.
- This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
- Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the residential generators industry for strategy building.
- A comprehensive residential generators market analysis covers factors that drive and restrain the market growth.
- The qualitative data in this report aims on market dynamics, trends, and developments.
Impact Of Covid-19 On The Residential Generators Market
- Coronavirus has eased the development of the residential generator market, as nations had to carry out lockdowns during the first half of 2020. Severe rules were given by governments and neighborhood specialists, and all minor tasks were ended. This antagonistically influenced the residential generator market inferable from the suspension of activities of end users.
- In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the portable generator market, since end-user industries were still not operating at their full capacity.
Key Market Segments
By Type
- Stationary
- Portable
By Fuel type
- Gasoline
- Diesel
- Others
By Power Rating
- Less than 4 KW
- 4- 8 KW
- 8-17 KW
- More than 17 KW
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Residential Generators Market Report Highlights
| Aspects | Details |
 By TYPE |
|
 By FUEL TYPE |
|
 By POWER RATING |
|
 By Region |
|
 Key Market Players | Cummins Inc., BRIGGS & STRATTON, EATON CORPORATION PLC, GENERAC HOLDINGS INC., HONDA MOTOR CO., LTD., Scott's Emergency Lighting, KOHLER CO., Caterpillar Inc., Atlas Copco AB, Champion Power Equipment, Inc. |
Analyst Review
The residential generators market is moving toward growth stabilization phase in its industry life cycle. Developing economies are relied upon to notice a developing pattern for the item by virtue of quick industrialization and the developing manufacturing sector in the forthcoming years. Rise in economies, which incorporate Brazil, India, and Saudi Arabia, is anticipated to contribute a lucrative growth in demand for power backup in the residential sector owing to increase in disposable income. Emerging economies also boost the growth of the residential gas generator market due to increase in per capita income.
The residential generators market in the U.S. is broadly affected by several factors, including increase in frequency of power outages due to aging electrical infrastructure and harsh weather conditions. Furthermore, the residential generators market in the U.S. is gaining momentum due to surge in adoption of renewable energy sources in the country.
Increasing adoption of residential generators owing to a rapidly growing construction industry is also propelling market growth.
Type, fuel type and power rating segment are covered in residential generators market report
To get latest version of residential generators market report can be obtained on demand from the website.
4- 8 KW power rating is projected to increase the demand for residential generators Market
The global residential generators market was valued at $15.1 Billion in 2030.
The top ten market players are selected based on two key attributes - competitive strength and market positioning
Atlas Copco AB, Briggs & Stratton Corporation, Caterpillar Inc., Champion Power Equipment, Inc., Cummins Inc., Eaton Corporation PLC, Generac Holdings Inc., Honda Motor Co Ltd, Kohler Co. are the top players in residential generators market.
The increasing spending to build energy-efficient infrastructures is set to boost the demand for residential generators
Essential appliances, such as lights, refrigerators, fans, and others applications are expected to drive the adoption of residential generators.
Owing to the lockdown, the growth rate of construction & building has declined significantly. In addition, transportation and travelling activities have been halted in COVID-19-affected regions, which is expected to hamper the growth of the residential generators.
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