An Incisive, In-depth Analysis on the Gasoline Generator Market
This study offers a comprehensive, 360 degree analysis on the Gasoline Generator market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Gasoline Generator market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Gasoline Generator Market - Key Research Findings
- The global gasoline generator market size in 2018 was ~US$ 650 Mn and is set to reach ~US$ 1 Bn by the end of 2029.
- The gasoline generator market is expected to register a CAGR of ~4% during the forecast period of 2019-2029.
- According to FMI analysis, manufacturers are producing more compact gasoline generators, which are portable and can be transferred from one place to another. Moreover, increasing power outage, power cuts, grid failure, and adverse weather conditions are expected to drive the demand for gasoline generators.
- Collectively, North America and APEJ are set to account for ~60% of the revenue shares in the gasoline generator market by the end of 2029. The increase in construction activities and significant growth in non-residential construction spending reflect on the prominent increase in the demand for gasoline generators from these regions.
- The residential sector accounts for ~60% share of the gasoline generator market. Considering an increase in the U.S. non-residential construction spending, major manufacturers and key stakeholders in the gasoline generator market are redefining their future business strategies. Consequently, with a substantial production share in the world, the demand for gasoline generators is expected to remain steady in the region.
- Governments of several countries are focussing on strengthening their energy infrastructure.
- In 2015, the China government emphasised on developing ~300 infrastructure projects worth over a trillion USD to boost the country’s weakening GDP. Multiple government initiatives are supporting the demand for gasoline generators in case of power outages, which, in turn is driving the growth of the global gasoline generator market.
Gasoline Generator Gratifying Electrical Requirement for Commercial & Residential Sectors
There is a robust usage of gasoline generators in commercial and residential end-use sectors for standby backup power in times of power shortage and grid failure. The compact nature of gasoline generators has assisted the acceptance in the residential sector, primarily as part of a modular uninterrupted power supply set up. Residential end users are dependent on continuous electricity. The increasing dependence on electrical appliances is rising the demand for gasoline generators. In case of a rolling blackout, gasoline generators are the lifeline for an optimum functioning residential area. Further, for end users of renewable technologies such as solar panel based power, gasoline generators are a reliable back up power option. Gasoline generators also have some unique operational benefits compared to diesel fuel based generators. The spare capacity of the U.K. national grid was ~15% in 2010, and this has dropped to ~4% recently. Therefore, the gasoline generator market can be considered a saving grace in this region.
Construction Sector Spearheading Gasoline Generators Market
The global increase in construction activities has subjected to the rise in the demand for gasoline generators. The significant growth in the construction industry is expected to drive the gasoline generator market. Importance of infrastructure security over protecting equipment and machinery from a sudden power outage, which leads to long-term damages is growing, thereby potentially raising the demand for gasoline generator. A shift by manufacturers to sell compact generators through new channels, predominantly e-commerce will offer a notable boost to the gasoline generator market. For instance, companies, such as Kohler Co., Honda Motor Co. Ltd., and Generac Power Systems, Inc., among others, are offering compact gasoline generators, which make it logistically viable for customers.
Rolling Blackouts & Power Shortage Fuel the Growth of the Gasoline Generator Market
Developing economies can hardly cope up with the increasing urbanization and the surge in demand and capacity from newly affluent citizens. The abyss between the demand and supply of electricity causes a power outage and rolling blackouts. Solving power shortage becomes a priority for countries as millions of citizens suffer during the power shortage and blackouts for hours if not days. Multiple service industries get profoundly affected due to the power outage, which, in turn, affects the country in a minimal but significant manner. As a result, several sectors are relying of gasoline generators to cope with power outages, thereby propelling the market growth.
Limited Electric Supply with Increasing Power Demand in Latin America Driving the Market
Various reasons are supporting the statement that off-grid power consumption is increasing across several countries, such as Brazil, Mexico, and Argentina. Rising population, independence from the public grid, limited availability of conventional forms of energy, and limited access to electricity are the major reasons boosting the sales of gasoline generator sets used for backup power in off-grid power systems.
The number of households in Sub-Saharan Africa is expected to grow to almost ~300 million in 2040, in which, the Western Africa region is expected to be the fastest-growing region. The abovementioned factors are expected to drive the gasoline generator market in the region over the forecast period.
Gasoline Generator Market Growth Analysis 2019-2029
A recent market study published by FMI on the gasoline generator market includes global industry analysis 2014-2018 & opportunity assessment 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historic as well as current growth parameters of the gasoline generator market, the growth prospects of the market are obtained with maximum precision.
Gasoline Generator Market: Segmentation
The global Gasoline Generator market is segmented on the basis of power output, type, application, end use and region. It aims to cover every aspect of the market and presents a complete market intelligence approach to the reader.
By Power Output
By End Use
The global Gasoline Generator market report starts with an overview of the market, which provides a summarized view of the report, and also provides market definitions and taxonomy. In the subsequent section, the report defines the market viewpoint, which includes macroeconomic factors, forecast factors, value chain, and various other qualitative data regarding the Gasoline Generator market. The section that follows includes market dynamics such as the drivers, trends, restraints, and opportunities that are impacting the global Gasoline Generator market.
The following sections of the Gasoline Generator market report provide global market value (US$ Mn) and volume (‘000 units) projections for the market segments. The global Gasoline Generator market values represented in these sections have been derived by gathering information and data at country as well as regional levels. The next section of the Gasoline Generator market report provides a concise view of the global Gasoline Generator market based on seven prominent regions considered in the study. This section presents regional market position, growth potential, and market attractiveness analysis for each of these regions.
Another crucial feature of this comprehensive report on the Gasoline Generator market is the analysis of all key segments, along with revenue forecasts in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market.
In the following sections, regional breakup on the basis of key segments, including power output, engine, end use, and Type along with country level break-up are also presented in the report. Moreover, a detailed summary of the Gasoline Generator market is offered in the executive summary, i.e. section 01. In the last section, the company profiles of key manufacturers in the Gasoline Generator market are presented, along with competition dashboard and market structure analysis. Furthermore, under the section of company profiles – along with company overview, SWOT analysis, key financials, and strategies adopted by companies have been presented.
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the Gasoline Generator market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Kohler Co., Honda Motor Co. Ltd., Generac Power Systems, Inc., Yamaha Motor Co., Ltd., SGS Engineering (UK) Ltd., Hyundai Power Equipment, Stephill Generators Ltd., Champion Power Equipment, Inc., Stanley Black & Decker, Inc., Techtronic Industries Co., Ltd., Briggs & Stratton Corporation, WEN Products, among others
In order to offer an accurate forecast, FMI started by sizing the current Gasoline Generator market, which forms the basis of how the global Gasoline Generator market is expected to develop in the coming years. Given the characteristics of the global Gasoline Generator market, we triangulated the outcome of different types of analysis, based on primary research, secondary research, and our own analysis.
In addition, it is important to note that, in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR (Compound Annual Growth Rate) but also analyse the market on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the market and identify the right opportunities available for value chain participants.