Global Residential Gas Generator Market
The GMI Research forecasts that the Residential Gas Generator Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the increasing number of weather-related power outages and the growing demand for uninterrupted and reliable power supply in developed and developing nations.
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Introduction of the Residential Gas Generator Market:
Residential gas generators refer to the generators that run on clean fuel sources such as natural gas, CNG, and LPG and are widely used for power generation in the residential sector. They can produce electricity in emergencies, power cuts, and power shortages and are designed to produce maximum electrical power with high reliability, availability, and low operating costs.
Key Players of the Global Residential Gas Generator Market:
• Cummins Inc.
• Caterpillar Inc.
• Himoinsa S.L.
• Perfect Gas Generator
• Kirloskar Electric Company
• Briggs & Stratton Corporation
• Generac Power Systems, Inc.
• Kohler Co.
• Aggreko Plc
• Atlas Copco AB
Residential Gas Generator Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The residential gas generator market is forecasted to witness a robust demand over the forecast period. This is mainly because of the accelerating population, robust demand in the residential sector owing to their features such as operational effectiveness, higher shelf-life than the gasoline generators, cost efficiency, and high reliability on electric based equipment including refrigerators, television, cell phones, microwave, washing machines, lights, cameras, home security systems along with the augmenting apprehension about the high-pollution emission risk. In addition, mounting demand for electricity and frequent power cuts and electric shortages are persuading their acquisition as a backup power source in grid-connected and prime source in off-grid areas, further strengthening the residential gas generator market size. Leading enterprises are increasingly emphasizing introducing sophisticated generators with better features such as automated functioning, distant supervision with the help of a smartphone, tablet, or PC., and delivery of power through the home's electrical panel.
Furthermore, the surging consciousness relating the natural gas as a clean and reliable fuel, reducing prices of natural gas fuel and their property to access information, like current operating status and maintenance alerts of generators, is expected to provide substantial growth opportunities in the market during the forecast period. However, the insufficient power grid connectivity via pipeline and the prevalence of various substitutes, including gasoline generators, may hamper the market growth.
Power Rating Segment Drivers
Based on the power rating, the market is bifurcated into below 100 kVA, 100-350 kVA, 350-1000 kVA, and above 1000 kVA. The 100-350 kVA is contemplated to account for a higher market share in the coming years. This is primarily attributed to the persistent electricity cuts and power requirements in the residential sector. They are economical, efficient, and support all the basic appliances at home, including coffee machines, blenders, and washing machines to laptops, air conditioners, television, water purifiers, and refrigerators.
Regional Drivers
Based on the regional coverage, North America will have the largest market share during the forecast period owing to the rising recognition of energy efficiency and the inflated disposable income of the population. Moreover, the swift economic enhancement, better living standards, and the growing number of residential buildings are supporting the market growth. The recurrent hurricanes and thunderstorms that cause disturb the well-established but aging electricity transmission network will propel the market share. The concerns regarding diesel maintenance and refueling issues are paving the way for market growth. Moreover, strict norms by governments to counter the high-pollution emission risk are encouraging the implementation of eco-friendly gas generators. On the other hand, the Asia-Pacific region is projected to expand at a higher CAGR during the forecast period, primarily due to the fuelling per capita disposable income, expanding demand for electricity in the residential sector, and the upsurging number of residential buildings and infrastructures, especially in including China, Japan, India, and South Korea.
Residential Gas Generator Market Segmentation:
Segmentation by Power Rating
• Below 100 kVA
• 100-350 kVA
• 350-1000 kVA
• Above 1000 kVA
Segmentation by Region:
• North America
o United States of America
o Canada
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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