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North America Gasoline Gensets Market Size

Report ID: GMI3027
Published Date: May 2023
Report Format: PDF

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North America Gasoline Gensets Market Size

North America Gasoline Gensets Market size valued at USD 3.8 billion in 2023 and is anticipated to grow at over 4.1% CAGR from 2024 to 2032. The market for global gasoline gensets is likely to hit USD 14.1 billion by 2032. A gasoline genset is an equipment that utilizes an engine to convert the chemical energy obtained from fuel into electrical power. Its primary function is to provide a portable power solution for households, as well as serve as a power source in construction sites and outdoor recreational activities.

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Growing popularity of inverter generators in line with increasing consumer inclination toward fuel efficiency and eco-friendliness will positively sway the industry growth. The product offers vital advantages including quiet operations and less emission which in turn will boost the product penetration. The region experiences severe weather events and natural disasters, which have a significant impact on the gensets demand.

North America Gasoline Gensets Market Report Attributes
Report Attribute	Details
Base Year:	2023
North America Gasoline Gensets Market Size in 2023:	USD 3.8 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.1%
2032 Value Projection:	USD 5.5 Billion
Historical Data for:	2019 to 2023
No. of Pages:	120
Tables, Charts & Figures:	148
Segments covered:	Power Rating, End Use, Phase
Growth Drivers:	Rising consumer participation in recreational activities Increasing intensity & frequency of weather-related disasters Surging need to revamp the existing infrastructure Growing demand for uninterrupted power supply
Pitfalls & Challenges:	Increasing product cost Shifting trends toward renewable power generation

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The North America market for gasoline gensets reached USD 3.8 billion in 2023 and is estimated to surpass USD 5.5 billion by 2032 attributed to increasing consumer inclination toward fuel efficiency and eco-friendly products.

The residential application segment generated more than USD 1.5 billion in 2022 and is set to grow at a robust pace through 2032 owing to the widespread adoption of these systems in households, primarily for emergency power supply during grid failures.

The U.S. gasoline gensets market is poised to amass more than USD 4.5 billion by 2032 owing to the government norms to deploy cleaner sources.

Cummins, Kirloskar, Briggs & Stratton, Champion Power Equipment, Westinghouse Outdoor Power Equipment, DuroMax Power Equipment, WEN Products, Pulsar Products, A-iPower Corp., Sportsman Series, Caterpillar, Buffalo Corporation, All-Power America, Xtremepower and PowerSmart are the leading firms engaged in the global market.