North America Hybrid Generator Market - By Power Rating, By End Use (Residential, Commercial, Industrial), By Application (Standby, Peak Shaving, Prime/Continuous) & Forecast, 2024 – 2032

North America Hybrid Generator Market Size

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.
 

North America Hybrid Generator Market Trends

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.
 

North America Hybrid Generator Market Analysis

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.
 

North America Hybrid Generator Market Share

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.
 

North America Hybrid Generator Market Companies

The key industry players include:

• Atlas Copco AB
• Briggs & Stratton
• Cummins, Inc.
• Caterpillar Inc.
• FG Wilson
• Generac Power Systems, Inc.
• HIMOINSA
• Kirloskar
• Kohler Co.
• Mitsubishi Heavy Industries, Ltd.
• Powerica Limited
• Rapid Power Generation Ltd.
• Siemens Energy
• Sterling and Wilson Pvt. Ltd.
• Wärtsilä
• Yamaha Motor Co., Ltd.
   

North America Hybrid Generator Industry News

• In November 2022, Cummins entered into a partnership with Exergy Energy, a leading manufacturer and designer of power backup solutions. Through this collaboration, both companies experienced strategic expansion opportunities. The partnership facilitated the deployment of Cummins power solutions, which include energy storage systems, switching components, and generator sets, at customer sites. These installations ensure uninterrupted power supply throughout operations, grid disruptions, and peak usage periods.
   
• In June 2022, Kirloskar introduced the iGreen Version 2.0, a new & advanced series of its efficient power generators. Powered by the R550 series of engines, the version offers a blend of fuel efficiency, compactness, and high-power quality. The upgraded model enhanced product longevity and is equipped with built-in features including remote monitoring and self-diagnostics, making it a highly sophisticated & user-friendly solution.
   

The North America hybrid generator market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD Million” from 2019 to 2032, for the following segments:

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Market, By Power Rating

• ≤ 50 kVA
• > 50 kVA - 125 kVA
• > 125 kVA - 200 kVA
• > 200 kVA - 330 kVA
• > 330 kVA - 750 kVA
• > 750 kVA

Market, By End Use

• Residential
• Commercial
• Industrial

Market, By Application

• Standby
• Peak Shaving
• Prime/Continuous

The above information has been provided for the following countries:

• U.S.
• Canada