Sales in the global gasoline generator market are anticipated to top US$ 994.6 Mn, rising at a CAGR of 3.7% during the forecast period 2022-2029.
In 2022, the market for gasoline generators is anticipated to reach a value of US$ 768.8 Mn. The market is anticipated to grow as gasoline generators are increasingly used to meet the demand for electricity in regions with frequent rolling blackouts and power outages.
The global market for gasoline generators will be the subject of a comparison and review study, according to Future Market Insights. The demand for electricity in regions with frequent rolling blackouts and power outages is the main factor driving this market.
The demand in the global gasoline generator market grew at a CAGR of 3.3% over the past between 2014 and 2021. As per the report, sales are expected to accelerate by 1.34x between 2022 and 2029.
Gasoline generators are machines that convert the chemical energy of petrol into electrical or mechanical energy. They are increasingly being used as an emergency power backup mechanism in industrial and residential settings, which is in turn, favoring the growth in the market.
China is anticipated to become a profitable region in the Asia Pacific. In 2022, sales of gasoline generators are expected to account for more than 26% of the global market.
The demand for electric vehicles is increasing in China as the trend of electrification continues to make deeper inroads. As a result, top automakers are concentrating on incorporating cutting-edge gasoline generators to extend the range.
Over the assessment period of 2022–2029, FMI anticipates that the United States will continue to dominate the North American gasoline generator market.
Construction activity is increasing quickly across the United States as sustainable infrastructure development is becoming increasingly important. For instance, the U.S. government has announced undertaking numerous construction projects like the Chandler Campus Expansion, and Water Purification Facility.
Rising incidence of power cuts, power outages, weather-related calamities, and grid failures have resulted in increasing adoption of power backup providing equipment such as petrol generators across commercial and residential sectors. This is expected to continue driving sales in this segment over the forecast period.
- Kohler Co.
- Honda Motor Co., Ltd.
- Generac Power Systems, Inc.
- SGS Engineering (UK) Ltd.
- Hyundai Power Equipment
- Stephill Generators Ltd.
- Yamaha Motor Co., Ltd.
- Champion Power Equipment, Inc.