How Has the Gasoline Gensets Market Evolved Historically and What is its Current Size?
The gasoline gensets market has seen considerable growth due to a variety of factors.
• The market size of gasoline generators has seen a significant surge in the past years. The market, which stood at $3.71 billion in 2024, is predicted to increase to $3.95 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.4%. The historical growth trend can be credited to several factors such as power shortfalls and the reliability of power grids, industrial expansion, residential usage, governmental rules, the availability of fuel and its price.
What is the Forecasted Market Size and CAGR for the Gasoline Gensets Market?
The Gasoline Gensets market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the gasoline generator set market is projected to experience significant growth, eventually reaching a value of $5.07 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 6.5%.
The predicted expansion during these years can be credited to several factors such as increasing energy needs, a shift towards renewable energy sources, evolving urbanization patterns, regulatory changes, climate change impacts, and natural calamities. Furthermore, the expected trends during this period encompass enhancements in engine technology, an emphasis on environmental sustainability, a surge in usage in residential areas, breakthroughs in fuel efficiency, and the incorporation of digital solutions.
What Key Factors and Trends Are Driving The Growth Gasoline Gensets Market?
The anticipated expansion of the gasoline gensets market is primarily driven by the increasing need for power supplies. In essence, power supply represents the capacity of a battery or fuel source to energize a device. Gensets, working as alternative power sources, are widely used in a range of places from construction sites to homes, producing electricity to operate domestic appliances and construction machinery. These gensets offer economical power demand management. For example, projections from the International Energy Agency, an independent intergovernmental organization based in France, suggest that from 2023 to 2025, the global requirement for electricity will rise by 3% annually, as compared to the 2022 pace of growth. This projected increase in power supply demand is therefore contributing to the expansion of the gasoline gensets market.
What Are The Market Segments In The Gasoline Gensets Market?
The gasoline gensets market covered in this report is segmented –
1) By Type: Portable, Stationary
2) By Power Rating: <2KVA, 2KVA - 3.5 KVA, 3.5KVA - 5KVA, 5KVA - 6.5KVA, 6.5KVA - 8KVA, 8KVA - 15KVA
3) By Phase: Single Phase, Three Phase
4) By End User: Residential, Commercial, Construction
Subsegments:
1) By Portable: Inverter Gasoline Gensets, Conventional Portable Gensets
2) By Stationary: Standby Gasoline Gensets, Prime Power Gasoline Gensets
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What Trends Are Shaping The Gasoline Gensets Market?
Key advancements in product technology is the principal trend making waves in the gasoline gen-sets market. Notable companies operating in this industry are concentrating on crafting inventive solutions to establish their market fame. Take for instance, the launch of C1250D6E and C1500D6E gen-sets in July 2022 by Cummins Inc., a US-based firm known for its manufacturing and distribution of engines, power generation products, and filtration. These models, part of the new Centum series, are engineered with high-powered engines tailored to suit a smaller footprint, meeting customers' electricity requirements specifically. Marking a significant pivot in Cummins' strategy towards power system design, these generators provide unparalleled flexibility. Powering these generator sets is the Cummins QSK38 engine, a 12-cylinder vee-configuration diesel with measurements of 159 x 159 mm and a total displacement of 37.8 L. They are rated at 1250 and 1500 kW for standby, and 1136 kW and 1364 kW for prime/data center continuous, both at 60 Hz. Installed with the Cummins QSK38 engines of over 2200 hp, the C1250D6E and C1500D6E occupy a novel 38 L platform.
Who Are the Key Players In The Gasoline Gensets Market?
Major companies operating in the gasoline gensets market include:
• Cummins Inc.
• Caterpillar Inc.
• Yamaha Motor Co. Ltd.
• Briggs & Stratton Corporation
• Wacker Neuson SE
• Kohler Co.
• Generac Holding Inc.
• Honda Motor Co. Ltd.
• Honeywell International Inc.
• Firman Power Equipment
• Stephill Generators
• Lifan Power USA
• A-iPower Corp.
• Bison Machinery Ltd
• The Westinghouse Electric Corporation
• AKSA Power Generation
• Cooper Corporation
• Mitsubishi Heavy Industries Ltd.
• Denyo Co. Ltd.
• Kirloskar Oil Engines Limited
• Mahindra Powerol Ltd.
• Champion Power Equipment Inc.
• WEN Products
• Duromax Power Equipment
• Pulsar Products Inc.
• All Power America LLC
• Subaru Industrial Power Products
• Winco Inc.
• Doosan Portable Power
• Multiquip Inc.
What Are The Regional Insights Into The Gasoline Gensets Market?
Asia-Pacific was the largest region in the gasoline gensets market in 2024. Asia-Pacific is expected to be the fastest-growing region in the gasoline gensets market report during the forecast period. The regions covered in the gasoline gensets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
