Authored By: Sarah
11 Jul 2024

 Residential Gas Generator Market Size to grow by USD 599.9 million between 2024-2028

According to a research report “ Residential Gas Generator Market” by Type (Stationary, Portable) Geography (North America, Europe, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 599.9 million, at a CAGR of  7.08% during the forecast period. The residential gas generator market has experienced significant growth over the past five years, driven by the accessibility and dominance of natural gas as a fuel source. Technological advancements, such as horizontal drilling tools, smart drill feedback communication, and fracking, have made natural gas extraction from tight rock formations increasingly efficient. Gas generators, which run on clean fuel sources like natural gas, compressed natural gas (CNG), and liquefied petroleum gas (LPG), have gained favor due to their environmental benefits, including reduced greenhouse gas (GHG) emissions. Unlike diesel generators, which require storage, maintenance, and frequent refills, gas generators are refueled via gas pipelines from utilities. This not only streamlines the refueling process but also contributes to a more sustainable energy solution for residential applications.

Browse market data tables, figures, and in-depth TOC on “Residential Gas Generator Market” by Type (Stationary, Portable) Geography (North America, Europe, APAC, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

 

By Type, the Stationary segment is projected to dominate the market size in 2024

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By Geography, North America  segment is expected to hold the largest market size for the year 2024

The Residential Gas Generator Market represents a significant business opportunity for manufacturers and suppliers. With increasing power outages and the growing need for backup power solutions, demand for residential gas generators is on the rise. These generators offer reliability, efficiency, and convenience, making them a preferred choice for homeowners. Market growth is further driven by technological advancements, regulatory compliance, and consumer preferences.

North America is forecasted to hold the largest market size by region in 2024

The Residential Gas Generator market represents a significant business opportunity, driven by increasing demand for uninterrupted power supply and growing awareness of energy security. Key players in this sector focus on enhancing product efficiency, reliability, and safety features to cater to discerning consumers. Technological advancements, regulatory compliance, and cost-effective solutions are critical success factors in this competitive landscape.

The Residential Gas Generator Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Aggreko Plc
  • Atlas Copco AB
  • Briggs and Stratton LLC
  • Caterpillar Inc.
  • Champion Power Equipment Inc.
  • Cummins Inc.
  • DuroMax Power Equipment
  • Generac Holdings Inc.
  • Honda Motor Co. Ltd.
  • Kohler Co.
  • PR INDUSTRIAL Srl
  • Pulsar Products Inc.
  • Rolls Royce Holdings Plc
  • WEN Products
  • Yanmar Holdings Co. Ltd.
.

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Research Analysis Overview

The Residential Gas Generator Market has witnessed significant growth in recent years due to power supply shortages caused by severe weather conditions such as storms and bad weather. Natural gas generators have gained popularity over conventional fossil-fuel generators like diesel gensets due to their lower carbon emissions. Natural gas deposits are abundant, making it a cost-effective solution for residential areas. However, the use of natural gas generators for electrical energy production contributes to greenhouse gas emissions. Extra-regional trade agreements and the availability of natural gas have made it a preferred choice for power generation. Power packs with battery storage have also gained popularity to ensure a continuous power supply during power outages. Renewable gas, such as biogas and landfill gas, are also being explored as alternatives to reduce carbon emissions. Fuel gases like natural gas and fuel oil are used in stationary generators to produce mechanical energy. Gasoline and diesel are also used in portable generators for the same purpose. As the world moves towards cleaner energy sources, the residential gas generator market is expected to evolve with technological advancements and regulatory frameworks.

Market Research Overview

The Residential Gas Generator Market encompasses the production, sales, and installation of gas-powered generators for homes and businesses in various sectors. This market includes applications in the Retail, Telecom, IT, Industrial, and Commercial categories, as well as the Residential sector. Electrical equipment, such as water purifiers, air conditioners, water pumps, geysers, and appliances, often require backup power sources, making gas generators a popular choice. Gas generator OEMs produce low-power gensets using natural gas, shale gas deposits, and other fuels like propane and butane. The Industrial sectors, including oil & gas, and utility-scale solar and wind energy, are significant consumers of these generators for backup power applications. However, the environmental impact of gas generators, including emissions of sulfur, nitrogen, and CO2, has led to increased interest in renewable energy technologies, such as solar panels and wind energy, and grid-scale energy storage. Sustainable development and green building initiatives are also driving demand for cost-effective, cleaner backup energy sources. Power supply shortages and severe weather events, such as storms, floods, wind, ice, snow, rain, and lightning, continue to increase the demand for backup power sources. Gas generators, both natural gas and diesel, remain a popular choice due to their ability to provide constant power and quick response times. The Residential area market, including investment in agriculture, tourism, housing projects, and smart city initiatives, also contributes significantly to the demand for residential gas generators. Despite their benefits, gas generators can produce unpleasant smells, noise, and require regular maintenance. The cost-effective solution for households is to invest in power packs with battery storage or consider purchasing a renewable energy system.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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