Residential Gas Generator Market Overview
The growth of the Residential Gas Generator Market is forecasted at a CAGR of 9.5% during 2023-2029. A detailed description of the factors and market trends pertaining to different regions is given in detail in the report.
A residential gas generator is used to generate electricity in a home or other residential setting using natural gas as a fuel source. These generators are typically installed as a backup power source in case of a power outage or other emergency situations. The generator is usually connected directly to the home’s natural gas supply and can be started manually or automatically in the event of a power outage. These generators offer greater convenience and reliability. Major players in this sector are taking initiatives to make these generators more cost-effective which will further the demand and market share for the Residential gas generators market.
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Residential Gas Generator Market Report Scope and Research Methodology
With the growing threat of climate change, extreme weather events such as hurricanes, tornadoes, and blizzards are becoming more frequent and severe. This has led to more power outages, increasing the need for backup power solutions like residential gas generators. Also, in an increasingly digital and interconnected world, a reliable source of power is essential for many aspects of modern life. As a result, the demand for backup power solutions is likely to continue to grow. The adoption of natural gas as a source of energy for residential generators over diesel is increasing due to growing environmental concerns. Less carbon dioxide, nitrogen, and sulfur are emitted via natural gas generators than diesel generators. In addition, these generator sets also produce less noise and have no peculiar smell during operation which is not the case with diesel generators. Moreover, natural gas is available at a low price, unlike diesel whose prices keep on fluctuating and are on the higher side. Thus, the unreliable power supply and continuous demand for electricity along with the advancements in technology, and availability of low-cost fuel are important factors that drive the demand for household generators.
Residential Gas Generator Market Regional Insights
The bottom-up approach and multiple data triangulation methodologies are used to estimate the market size and forecasts. The percentage splits, market shares, and breakdowns of the segments are derived based on weights assigned to each of the segments on their utilization rate and average sale price. The country-wise analysis of the overall market and its sub-segments are based on the percentage adoption or utilization of the given market Size in the respective region or country. Major players in the market are identified through secondary research based on indicators that include market revenue, price, services offered, advancements, mergers and acquisitions, and joint.
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Residential Gas Generator Market Segmentation
By type: Residential gas generators market is divided into Stationary and Portable. In terms of type, portable generators dominated the residential generators market in 2022, and it is anticipated that this segment is expected to continue to grow at the fastest rate during the forecast period. Portable generators are usually smaller in size, ranging from 1kW to 8kW in power output capacity and are ideal for use in camping, outdoor events, and emergency backup power in small households. Portable generators with Bluetooth capabilities are another emerging trend that is growing in popularity. With this end users will now be able to control a generator using their smartphone and monitor fuel levels, the duration of the entire activity, performance, and create maintenance reminders, among other things. Additionally, these devices will also assist in finding nearby dealers for servicing needs. Thus, the multipurpose use of portable generators coupled with the advancements in technology attracts manufacturers and customers and will in turn drive the market for portable generators, thereby, contributing to global market growth.
Residential Gas Generator Market Key Players
Generac Holdings Inc.
Caterpillar Inc.
Mitsubishi Heavy Industries Ltd
Cummins Inc.
Kohler Co.
Himoinsa S.L.
Briggs and Stratton Corporation
Kirloskar Electric Co., Ltd.
Aggreko PLC
F.G. Wilson
Champion Power Equipment
Honda Motor Co., Ltd
SDMO Industries SAS
Yamaha Motor Co., Ltd
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Key questions answered in the Residential Gas Generator Market are:
- What is Residential Gas Generator?
- What was the Residential Gas Generator market size in 2023?
- What is the growth rate of the Residential Gas Generator Market?
- Which are the factors expected to drive the Residential Gas Generator market growth?
- What are the different segments of the Residential Gas Generator Market?
- What growth strategies are the players considering to increase their presence in Residential Gas Generator?
- What are the upcoming industry applications and trends for the Residential Gas Generator Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Residential Gas Generator Market?
- What segments are covered in the Residential Gas Generator Market?
- Who are the leading companies and what are their portfolios in Residential Gas Generator Market?
- What segments are covered in the Residential Gas Generator Market?
- Who are the key players in the Residential Gas Generator market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
About Stellar Market Research:
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