As per MRFR analysis, the Gasoline Generator Market Size was estimated at 11.64 (USD Billion) in 2022. The Gasoline Generator Market Industry is expected to grow from 12.12(USD Billion) in 2023 to 17.5 (USD Billion) by 2032. The Gasoline Generator Market CAGR (growth rate) is expected to be around 4.16% during the forecast period (2024 - 2032).
Key Gasoline Generator Market Trends Highlighted
Amidst rising concerns over power outages and the need for portable energy solutions, the Gasoline Generator Market is gaining significant traction. Key market drivers include increasing urbanization, expanding construction activities, and heightened demand for backup power in residential and commercial settings.
Exploration of opportunities lies in the development of eco-friendly generators, integrating advanced technologies such as remote monitoring and IoT connectivity. Recent trends point towards a shift toward quieter generators with reduced environmental impact and enhanced safety features. The growing popularity of off-grid living and outdoor recreation is further fueling demand for lightweight and portable generators.
In response to these market dynamics, leading manufacturers are focusing on innovation, product diversification, and strategic partnerships to capture market share and meet evolving customer needs. The integration of smart technologies and the emergence of smart generators that offer remote monitoring and control via mobile apps are becoming increasingly prevalent.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Gasoline Generator Market Drivers
Rising Demand for Backup Power Solutions
The growing reliance on electronic devices and the increasing frequency of power outages have fueled the demand for backup power solutions. Gasoline generators are a popular choice for residential, commercial, and industrial applications due to their portability, ease of use, and relatively low cost. This demand is expected to continue to drive the growth of the Gasoline Generator Market Industry in the coming years.
Expansion of the Construction Industry
One of the industries that extensively uses gasoline generators is the construction industry since they are highly suitable for providing temporary power to various types of tools and equipment used on construction sites. Since the construction industry is projected to grow in most developing countries, particularly across the Asia-Pacific and the Middle East, the demand for gasoline generators is projected to increase.
Increasing Popularity of Outdoor Activities
Gasoline generators are also gaining popularity for outdoor activities such as camping, tailgating, and boating. The growing popularity of these activities, particularly in North America and Europe, is expected to contribute to the growth of the Gasoline Generator Market Industry.
Gasoline Generator Market Segment Insights:
Gasoline Generator Market Power Output Range Insights
The Gasoline Generator Market is segmented by power output range into 'Less than 1 kW', '1-5 kW', '5-10 kW', '10-20 kW', and '20 kW and above'. Among these segments, '1-5 kW' segment is estimated to dominate the market share in terms of revenue in 2023. The widespread use of gasoline generators in residential and commercial applications, where power requirements typically fall within this range, contributes to the dominance of this segment.
The 'Less than 1 kW' segment is anticipated to witness significant growth over the forecast period due to the increasing demand for portable and lightweight generators for camping, tailgating, and other recreational activities.The '5-10 kW' and '10-20 kW' segments are projected to maintain a steady growth rate, driven by the demand for backup power in small businesses, industries, and agricultural applications. The '20 kW and above' segment is expected to account for a smaller share of the market but is likely to experience growth due to the rising need for high-power generators in large-scale industrial and construction projects.
Overall, the Gasoline Generator Market is projected to reach a substantial market value by 2027, driven by the growing demand for reliable and portable power sources across various industries and applications.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Gasoline Generator Market Fuel Type Insights
The Gasoline Generator Market is segmented by fuel type into gasoline, diesel, and LPG. Gasoline generators are the most popular type, accounting for over 60% of the global market in 2023. They are relatively inexpensive to purchase and operate, and they are easy to find fuel for. Diesel generators are more expensive than gasoline generators, but they are more fuel-efficient and durable.
The growth of the gasoline generator market is being driven by the increasing demand for portable power in both developed and developing countries. Gasoline generators are used in a wide variety of applications, including powering homes and businesses during power outages, providing backup power for critical infrastructure, and powering construction equipment.The diesel generator market is expected to grow at a CAGR of 3.8% from 2024 to 2032, reaching a total market value of 15.2 billion USD by 2032. The growth of the diesel generator market is being driven by the increasing demand for reliable backup power in critical applications, such as hospitals and data centers.
Diesel generators are also used in a variety of industrial applications, such as powering construction equipment and mining equipment. The LPG generator market is expected to grow at a CAGR of 4.5% from 2023 to 2032, reaching a total market value of 12.8 billion USD by 2032.The growth of the LPG generator market is being driven by the increasing demand for environmentally friendly power generation. LPG generators are also used in a variety of industrial applications, such as powering forklifts and other material handling equipment.
Gasoline Generator Market Application Insights
The Gasoline Generator Market is segmented based on its application into residential, commercial, and industrial. Among these segments, the industrial segment is expected to hold the largest market share in 2023, valued at around 8.68 billion USD. This is primarily due to the increasing demand for gasoline generators in industries such as construction, manufacturing, and mining.
The residential segment is expected to witness significant growth over the forecast period, owing to the rising demand for backup power solutions in households. The commercial segment is also expected to grow steadily, driven by the increasing adoption of gasoline generators in businesses such as hotels, hospitals, and retail stores.
Gasoline Generator Market Portability Insights
The portability segment of the Gasoline Generator Market is categorized into portable and stationary generators. Portable generators are designed for easy transportation and are commonly used for recreational activities, camping, and emergency backup power. Stationary generators, on the other hand, are permanently installed in a fixed location and are typically used for industrial and commercial applications that require a reliable and continuous power supply. In 2023, the portable segment accounted for a larger share of the Gasoline Generator Market revenue, driven by increasing demand for portable power solutions in both residential and commercial settings.The growth of the portable segment is attributed to its versatility, ease of use, and affordability compared to stationary generators. However, the stationary segment is expected to witness a significant growth rate during the forecast period from 2024 to 2032, owing to rising demand for reliable and uninterrupted power supply in various industries.
Gasoline Generator Market Regional Insights
North America, Europe, Asia-Pacific, South America, and the Middle East and Africa regions make up the gasoline generator market. In 2023, North America held the largest revenue share of 38.9%, followed by Europe with 27.6%, APAC with 22.3%, South America with 7.8%, and MEA with 3.4%. The market growth in North America is driven by the increasing demand for backup power during grid outages and the rising popularity of recreational activities such as camping and tailgating. Europe's market growth is attributed to factors such as the growing demand for portable power sources in the construction and industrial sectors.The APAC region is expected to witness the highest growth rate during the forecast period due to the region's rapid industrialization and economic growth. The increasing adoption of gasoline generators in remote areas and the growing demand for uninterrupted power supply in developing countries are driving the market in South America and MEA.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Gasoline Generator Market Key Players and Competitive Insights:
Major players in Gasoline Generator Market industry are constantly focusing on developing new and innovative products to meet the evolving needs of customers. The Gasoline Generator Market industry is highly competitive, with several leading players holding a significant market share. These players are engaged in intense competition to gain a competitive edge and increase their market presence. The Gasoline Generator Market development is driven by factors such as increasing demand for portable power, rising awareness about environmental concerns, and stringent government regulations. The Gasoline Generator Market Competitive Landscape is expected to remain highly competitive in the coming years, with new entrants and existing players vying for market share.Generac Power Systems is a leading Gasoline Generator Market player, known for its reliable and durable generators. The company offers a wide range of gasoline generators, including portable, standby, and commercial models. Generac Power Systems has a strong distribution network, which enables it to reach a large customer base. The company's focus on innovation and customer satisfaction has helped it maintain its leadership position in the Gasoline Generator Market.Honda is another major Gasoline Generator Market player, with a reputation for producing high-quality and efficient generators. The company offers a range of gasoline generators, from small portable models to larger standby generators. Honda's generators are known for their reliability, durability, and low noise levels. The company's strong brand recognition and global presence have contributed to its success in the Gasoline Generator Market. Honda is continuously investing in research and development to enhance the performance and features of its generators, ensuring that it remains a competitive player in the market.
Key Companies in the Gasoline Generator Market Include:
Gasoline Generator Market Industry Developments
The Gasoline Generator Market is anticipated to expand significantly between 2024 and 2032, driven by increasing demand for reliable backup power sources in both residential and commercial sectors. The rising frequency and severity of power outages, coupled with growing concerns over grid resilience, are major factors contributing to the market growth.
Additionally, the increasing popularity of outdoor recreational activities and the need for portable power sources in remote areas are further propelling the demand for gasoline generators. Technological advancements, such as the development of fuel-efficient and quieter generators, are also expected to drive market growth in the coming years.
Gasoline Generator Market Segmentation Insights
Gasoline Generator Market Power Output Range Outlook
Gasoline Generator Market Fuel Type Outlook
Gasoline Generator Market Application Outlook
Gasoline Generator Market Portability Outlook
Gasoline Generator Market Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2022 | 11.64(USD Billion) |
| Market Size 2023 | 12.12(USD Billion) |
| Market Size 2032 | 17.5(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 4.16% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Ryobi, Briggs Stratton, Atlas CopconewerTerex, Honda Power Equipment, Kohler, Multiquip, Caterpillar, Cummins, Wacker Neuson, Makita, Doosan Portable Power, DeWalt, Generac Power Systems, Yamaha Motor |
| Segments Covered | Power Output Range, Fuel Type, Application, Portability, Regional |
| Key Market Opportunities | Power backup solutions for disaster resilience Growing demand for portable power Expansion of construction and infrastructure Adoption in remote and off-grid areas Rise of outdoor recreational activities |
| Key Market Dynamics | Increasing construction activities, rising power outages, growing demand for portable power sources, technological advancements, and expanding applications in various industries |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Gasoline Generator Market is anticipated to reach a market size of approximately USD 12.12 Billion in the year 2023.
The Gasoline Generator Market is projected to expand at a compound annual growth rate (CAGR) of roughly 4.16% from 2024 to 2032.
The North American region is anticipated to dominate the Gasoline Generator Market, with a significant market share due to the increasing demand for backup power solutions.
Gasoline Generators find extensive applications in residential, commercial, and industrial sectors, providing backup power during power outages, outdoor events, and construction sites.
Key players in the Gasoline Generator Market include Briggs Stratton, Generac Power Systems, Honda Power Equipment, Kohler Co., and Yamaha Motor Co., among others.
Factors driving the growth of the Gasoline Generator Market include rising demand for reliable backup power, increasing construction activities, and growing adoption in developing economies.
Challenges faced by the Gasoline Generator Market include fluctuating raw material costs, intense competition, and stringent emission regulations.
Key trends shaping the Gasoline Generator Market include the adoption of inverter technology, integration of renewable energy sources, and the growing popularity of portable generators.
The Gasoline Generator Market is projected to reach a valuation of approximately USD 17.5 Billion by the year 2032, expanding at a steady pace over the forecast period.
Emerging opportunities in the Gasoline Generator Market include the development of eco-friendly generators, growing demand for smart generators, and increasing adoption in remote areas.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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