North America Hybrid Generator Market
Get a free sample of this report
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
Request Sectional Data
Your inquiry has been received. Our team will reach out to you with the required details via email. To ensure that you don't miss their response, kindly remember to check your spam folder as well!
Form submitted successfully!
Error submitting form. Please try again.
North America Hybrid Generator Market in 2023 was valued at USD 1.63 billion and is estimated to grow at a rate of 7.7% between 2024 and 2032. The transition toward integrating gensets with renewable or storage systems will enhance the business outlook. Growing concerns toward emissions combined with the unreliability of grid infrastructure will foster the industry landscape. For instance, in 2022, carbon dioxide emissions from energy consumption across the U.S. crossed 4,500 million metric tons.
A hybrid genset is a power generation system that utilizes multiple energy sources to produce electricity. This setup usually involves combining a conventional internal combustion engine with alternative energy sources like batteries, solar panels, wind turbines, or other renewable technologies. Furthermore, these generator sets are proven to be more fuel efficient and reliable, which in turn will energize the business dynamics.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| North America Hybrid Generator Market size in 2023: | USD 1.63 Billion |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2023 - 2032 CAGR: | 7.7 |
| 2023 Value Projection: | USD 3.18 Billion |
| Historical Data for: | 2018 - 2023 |
| No of Pages: | 100 |
| Tables, Charts & Figures: | 150 |
| Segments Covered: | Power Rating, End Use, Application & Country |
| Growth Drivers: |
|
| Pitfalls Challenges: |
|
The aging grid infrastructure in line with escalating demand for uninterrupted power supply will positively sway the industry outlook. The rollout of 5G spectrum coupled with a burgeoning subscriber base, prompts substantial investments in the telecom sector, thereby benefiting the industry outlook. Additionally, the introduction of novel public-private partnership models to encourage non-governmental capital involvement will fuel the product penetration.
The > 50 kVA - 125 kVA rated generator sets market is set to reach over USD 400 million by 2032. Robust deployment of these units for ensuring consistent and uninterrupted power supply within the real estate and automotive production sectors will amplify the business expansion. Furthermore, unforeseen power disruptions stemming from grid failures or weather-induced outages result in revenue setbacks across industries, will in turn drive the business growth.
The residential hybrid generator market size in North America will witness over 8% CAGR through 2032. Government incentives, rebates, and policies aimed at promoting renewable energy adoption and improving energy resilience will drive the business landscape. Paradigm shift toward the adoption of home automation systems along with ongoing technological advancements will augment the industry potential.
U.S. hybrid generator market is set to surpass USD 2.7 billion by 2032. The rapid expansion of the telecom sector along with unreliable grid infrastructure will positively sway the business growth. The inability of electrical grids to handle increased demand, exacerbated by severe hurricane events, will further foster the product adoption. Moreover, the growing demand for continuous power supply in commercial facilities and industries will favor the industry scenario.
Briggs & Stratton was a well-known player in the generator sets market. The company is recognized for its production of small engines, including those used in generators. It has a significant presence in the consumer and small commercial segments. The company was well-known for its production of small engines, including those used in generators.
The key industry players include:
Market, By Power Rating
Market, By End Use
Market, By Application
The above information has been provided for the following countries:
Atlas Copco AB, Briggs & Stratton, Cummins, Inc., Caterpillar Inc., FG Wilson, Generac Power Systems, Inc., HIMOINSA, Kirloskar are some of the major industry contenders.
The U.S. hybrid generator market held a decent revenue share in 2023 and is set to surpass USD 2,700 million by 2032, driven by the rapid expansion of the telecom sector in the nation, along with unreliable grid infrastructure necessitating product deployment.
The > 50 kVA - 125 kVA segment held a decent share in North America hybrid generator industry in 2023 and is set to reach over USD 400 million by 2032, driven by robust deployment of these units for ensuring consistent and uninterrupted power supply across real estate and automotive production sectors.
North America hybrid generator industry size in 2023 was valued at USD 1,631.3 million and is estimated to grow at a rate of 7.7% through 2032, driven by the transition toward integrating gensets with renewable or storage systems.