Gasoline Gensets Market Size, Share, Growth Analysis, By Power rating(Less than 2KVA, 2-3.5 KVA, 3.5-5KVA, 5-6.5 KVA), By End-user(Residential, Commercial, and Construction), By Region - Industry Forecast 2025-2032

Report ID: SQMIG10E2023 | Region: Global | Published Date: July, 2024
Pages: 178 | Tables: 90 | Figures: 71

Gasoline Gensets Market Insights

Gasoline Gensets Market size was valued at USD 112 Billion in 2023 and is poised to grow from USD 125.44 Billion in 2024 to USD 310.59 Billion by 2032, growing at a CAGR of 12% during the forecast period (2025-2032).

The gasoline gensets market is showing promising signs of growth, driven by factors such as increasing demand for reliable backup power sources, especially in regions prone to power outages. These gensets have found applications across various industries, including commercial, residential, and industrial sectors, where uninterrupted power supply is critical.

Additionally, the growing construction and infrastructure development projects in emerging economies are contributing to the market's expansion, as they often require portable and dependable power sources.

Environmental concerns have led to increased attention on cleaner and more efficient genset technologies, although gasoline gensets continue to be a popular choice for their ease of use and widespread availability of fuel. As businesses and households alike prioritize power reliability, the gasoline gensets market is poised for continued growth in the coming years.

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Global Gasoline Gensets Market size was valued at USD 100 billion in 2022 and is poised to grow from USD 112 billion in 2023 to USD 277.31 billion by 2031, growing at a CAGR of 12% during the forecast period (2024-2031).

The competitive landscape of the gasoline gensets market is characterized by intense rivalry among key players vying for market share. Companies are focusing on innovation to develop more efficient and environmentally friendly genset solutions. 'Kirloskar (India)', 'Cummins (US)', 'Briggs & Stratton (US)', 'Kohler Co. (US)', 'Generac Power Systems (US)', 'Caterpillar (US)', 'Atlas Copco AB (Sweden)', 'Honda Motor Co. (Japan)', 'Champion Power Equipment (US)', 'Deere & Company (US)', 'Wacker Neuson SE (Germany)', 'Yamaha Motor Co. (Japan)', 'DuroMax Power Equipment (US)', 'JET POWER (China)', 'Honeywell International (US)'

One major driver in the gasoline gensets market is the increasing frequency and duration of power outages worldwide. Factors such as extreme weather events, aging grid infrastructure, and the need for uninterrupted power supply in critical applications like healthcare and data centers are compelling businesses and households to invest in gasoline gensets as reliable backup power sources.

Decentralized Energy Generation: One major key market trend is the shift towards decentralized energy generation. Increasingly, businesses and homeowners are adopting gasoline gensets and other distributed energy resources to reduce their reliance on centralized grids and ensure reliable power supply. This trend is driven by the desire for energy independence, greater resilience against grid failures, and the availability of advanced genset technologies that offer efficient, cleaner, and quieter power generation solutions. As the world embraces decentralized energy, gasoline gensets are playing a crucial role in this evolving energy landscape.

North America is currently dominating the gasoline gensets market. This dominance is primarily driven by the widespread adoption of backup power solutions, particularly in the United States and Canada. The reliability of gasoline gensets during extreme weather events, coupled with the need for continuous power in residential, commercial, and industrial settings, has fueled their prominence in the region.

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Gasoline Gensets Market Size, Share, Growth Analysis, By Power rating(Less than 2KVA, 2-3.5 KVA, 3.5-5KVA, 5-6.5 KVA), By End-user(Residential, Commercial, and Construction), By Region - Industry Forecast 2025-2032

Gasoline Gensets Market Insights

Gasoline Gensets Market Report Snapshots

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