Residential Generators - Global Market Outlook (2020-2028)
According to Stratistics MRC, the Global Residential Generators Market is accounted for $9.40 billion in 2020 and is expected to reach $13.36 billion by 2028 growing at a CAGR of 4.5% during the forecast period. Growing popularity of automatic, intelligent, and smart generators, grid failures due to natural & manmade disasters, longer duration of power supply during outages is driving the market growth. However, increasing shift towards solar power is hampering the growth of the market.
Residential Generators are the most common kind of backup power solution. In an emergency, residential portable generator can provide critical backup power. During power outage, residential portable generators make sure that the most important items like refrigerators and freezers, lights, sump pumps, space heaters and window air conditioners are running, minimizing any disruption to ones’ lifestyle, it goes on automatically when anyone needs it and shuts down automatically once main power is restored.
Based on the type, the portable segment is going to have lucrative growth during the forecast period as portable generators can be tailored to any electrical application. Portable generators are some of the most preferred systems in urban areas of many emerging countries and many individuals willing to install generators outside of their homes are opting this, as they are capable of withstanding adverse weather conditions.
By geography, North America is going to have high growth during the forecast period due to the factors like high population, extreme weather conditions, and increasing number of housing units and commercial buildings are major driving factor of the portable generator market in most of the countries of North America. And companies in the U.S. residential generators market are offering genset sizing calculation services to offer tailored solutions to customers which increase the market growth in the region.
Some of the key players profiled in the Residential Generators Market include Honda Motor Co. Ltd., Kohler Co., Scott's Emergency Lighting & Power Generation Inc., Generac Holdings Inc., General Electric Co., Cummins Power Systems, Briggs & Stratton Corporation, Techtronic Industries, Honeywell International, Inc., Hyundai Power, Atlas Copco AB, Westinghouse Electric Corporation, and Wuxi Kipor Power Co. Ltd.
• Less than 4 KW
• 4- 8 KW
• 8-17 KW
• More than 17 KW
Fuel Types Covered:
• Refrigerators and Freezers
• Computers, Tablets and Cell Phone Chargers
• Televisions (TVs)
• Sump Pumps
• Furnaces and Air Conditioners
• Home Security Systems
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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