Gasoline Generator Market - Global Industry Report, 2030
Increase in environmental emission norms across the globe is likely to boost the gasoline generator market during the forecast period
- Generator or genset is defined as a machine that converts mechanical energy into electrical energy through combustion of fuel. Generators usually use gasoline, natural gas, diesel, propane, water, biodiesel, sewage gas, or hydrogen as fuel.
- Gasoline generators are widely used for residential and commercial applications, as they possess small power generating capacity
- Gasoline generators are economical and mostly portable. Their maintenance cost is also low. Gasoline generators are used in a wide range of applications. They can be used not just in homes, but also for camping, on site jobs, and in other work premises.
- Rise in power outages in the residential sector is likely to boost the demand for gasoline generators during the next few years
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Key Drivers of Global Gasoline Generator Market
- Gasoline generator offers more benefits than diesel generators. Gasoline generators are silent in operation and emit less carbon compared to diesel generator.
- Gasoline generators are also economical compared to other types of generators. Increase in environmental emission norms across the globe is likely to boost the gasoline generator market during the forecast period.
- The COVID-19 pandemic has significantly impacted the power generation sector. Production of generators came to halt during the lockdown imposed by various countries. Demand for generators has also been declining due to industrial slowdowns. Most of the generator manufacturing companies are reducing capital and operational expenditures. The supply chain of equipment has also been highly disrupted. This is expected to hamper the demand for gasoline generators in the near future.
- On October 8, 2020, HIMOINSA introduced new HS Stationary Range generators with modular and versatile design that incorporate all the features required to make them highly competitive products in the market for stationary applications. The HS range is made up of generator sets, from 10 to 50 kVA, at 50Hz and 60Hz. Three different canopy sizes are available to house different models depending on their power.
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North America to Hold Major Share of Global Gasoline Generator Market
- Based on region, the global gasoline generator market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global gasoline generator market in 2019. The trend is projected to continue during the forecast period owing to the large number of power outages in the region. Furthermore, demand for gasoline generator is high in the residential sector in the U.S. for standby power application.
- The frequency of power outages is rising due to severe weather conditions and aging electrical infrastructure
- Europe is anticipated to account for large share of the global gasoline generator market during the forecast period. Countries in the region are focusing on reducing carbon footprints by eliminating the use of coal, diesel, and other carbon emitting fossil fuels.
- The market in Asia Pacific is estimated to expand at a healthy pace during the forecast period. This can be ascribed to increase in demand for gasoline powered generators among residential and commercial customers in the region.
- The market in Middle East & Africa and Latin America is estimated to expand at a moderate pace during the forecast period. Increase in environmental emission norms is likely to lower the usage of diesel generators and drive the demand for gasoline generators.
Key Players Operating in Market
Major companies operating in the global gasoline generator market include
- Cummins Inc.
- Himalayan Power Machines Mfg Co.
- Sudhir Power Ltd.
- Generac Power Systems, Inc.
- Honda Motor Co., Ltd.
- Rolls-Royce Power Systems AG
- Atlas Copco
Global Gasoline Generator Market: Research Scope
Global Gasoline Generator Market, by Type
Global Gasoline Generator Market, by Phase
- Single Phase
- Three Phase
Global Gasoline Generator Market, by Application
Global Gasoline Generator Market, by Power Rating
- Less Than 20 kVA
- 20 kVA - 50 kVA
- 50 kVA - 100 kVA
- More Than 100 kVA
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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