Future Outlook of the Gasoline Gensets Market: Growth, Trends, and Emerging Opportunities Explored
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How has the gasoline gensets market grown over the years?
The market size for gasoline generator sets has seen robust growth in the past few years. The market value is predicted to rise from $3.71 billion in 2024 to $3.95 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.4%. Factors such as power disruptions, grid dependability, industrial expansion, residential uses, government policies, and availability and cost of fuel are contributing to the growth in the historical period.
What Is the forecasted market size and growth rate for the gasoline gensets market?
The market size for gasoline generators is projected to witness impressive expansion in the coming years, hitting the $5.07 billion mark in 2029, with a compound annual growth rate (CAGR) of 6.5%. This predicted growth can be linked to several factors such as, increasing energy requirements, a shift towards renewable energy, urbanization, regulatory factors, climate change, and natural calamities. In the forecast period, various prevailing trends like improvements in engine technology, prioritizing environmental sustainability, increased residential usage, enhancements in fuel efficiency, and incorporation of digital solutions are expected to influence the market.
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What are the major factors driving growth in the gasoline gensets market?
The increasing need for power supplies is predicted to boost the gasoline gensets market in the future. Power supplies refer to the energy that a battery or fuel source can provide to run a device. Gensets are used as alternative power sources in various sectors, from construction sites to homes, creating electricity to run devices like household appliances and construction machinery. This assists in more cost-effective management of power demand. For example, the International Energy Agency, an independent intergovernmental organization based in France, forecasted in February 2023 that the global electricity demand will increase by 3% annually between 2023 and 2025, in comparison to the expansion rate in 2022. Thus, the rising requirement for power supplies is leading to the expansion of the gasoline gensets market.
What key areas define the segmentation of the global 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 are the top market players propelling the growth of the gasoline gensets industry?
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 key trends shaping the future of the gasoline gensets market?
The increasing popularity of product innovations is a significant trend in the gasoline gen-sets market. Major firms operating in this sector are keen on creating unique solutions to establish their market presence. As an example, Cummins Inc., a corporation based in the US that specializes in the design, manufacturing, and distribution of engines, filtration, and power generation products, released the C1250D6E and C1500D6E gen-sets, which are part of the centum series generator, in July 2022. The novel Centum Series generators were created to have high-efficiency engines whilst occupying less space, thereby meeting customers’ specific power requirements. The Centum Series generators provide unsurpassed flexibility, which represents a notable transformation in Cummins’ strategy towards the design of power systems. Both these generator sets run on the Cummins QSK38 engine, a 12-cylinder diesel in a vee-arrangement with bore and stroke measurements of 159 x 159 mm, and a total displacement of 37.8 L. They have ratings of 1250 and 1500 kW standby and 1136 kW and 1364 kW prime/data center continuous, and operate at 60 Hz. Over 2200 hp Cummins QSK38 engines are incorporated into the C1250D6E and C1500D6E, which are nestled in a unique 38 L platform.
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What regions are dominating the gasoline gensets market growth?
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
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