Residential Gas Generator Market: Introduction Generators can be defined as a machine that converts mechanical energy into electrical energy. There are two types of generators: mobile or portable generators and stationary generators. Several types of fuels such as diesel, natural gas, and renewable gas can be used to run generators Gas generators are the most common type of generators, designed for maximum electrical power with high reliability, availability, and low operating and service costs
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Key Drivers of Residential Gas Generator Market: Natural calamities and bad weather are the major reasons for power outages. Generally, power failures are caused by natural weather phenomena such as lightning, rain, snow, ice, wind, floods, and severe storms. Such type of natural disasters disrupt the continuous power supply, which causes major faults or breakdowns in the power grid. Therefore, residential consumers rely on gas generators as their auxiliary power source. Continuous power requirement and unreliable power supply situation have spurred the demand for residential gas generators. Natural gas is eco-friendly in nature which is an advantage over diesel generators. Natural gas powered gensets release fewer amounts of CO2, nitrogen, and sulfur. Furthermore, these gensets make less noise and do not produce an odor when operated. These factors drive the residential gas generators market. Factors including ongoing improvements in gas generator design and production and the plummeting cost of natural gas are likely to fuel adoption of residential gas generators. Emergence of Bluetooth-enabled portable gas generators is one of the key trends that would gain traction in the market during the next few years. Bluetooth connectivity enables operators to monitor generators from remote locations. Additionally, it provides visibility of various parameters such as average energy consumed, total operation hours, and maintenance reminders. Moreover, integration of these portable generators with Bluetooth also aids in checking fuel levels and performance. Such benefits are expected to drive consumer preference for these generators, thereby, driving the market. However, for residential consumers, solutions that use battery power packs or inverter technology are cost-effective and more environment-friendly than generators. Therefore, power packs are ideal for residential applications and are expected to pose a challenge to the global residential gas generator market.
Residential Stationary Gas Generator Segment to Witness Attractive Opportunities: The global residential gas generator market can be segmented in terms of type, power rating, and region Based on type, the market can be divided into: portable and stationary. The stationary segment accounted for significant share in global residential gas generator market in 2018. One of the key factors driving the growth of this market segment is the operational reliability of these generators in addressing high-power requirements. In terms of power rating, the global residential gas generator market can be classified into: up to 100 kW and more than 100 kW. The up to 100kW segment dominated the residential gas generator market in 2018 and this trend is expected to remain the same during the forecast period. Increase in population on a global level is anticipated to increase the demand for power backup, which, in turn, is anticipated to boost the up to 100kW segment during the forecast period.
Asia Pacific Expected to Hold Major Share of Global Residential Gas Generator Market: Based on region, the global residential gas generator market can be classified into: North America, Asia Pacific, Europe, Latin America, and Middle East & Africa Asia Pacific dominated the global residential gas generator market in 2018. This trend is estimated to continue during the forecast period, owing to increase in urbanization in several countries in region such as China, India, Indonesia, and Thailand. China is the most populated country in the world, hence the demand for electricity in the country is very high. China’s fast economic growth and rise in living standards are major factors driving the demand for electricity in the country. In 2017, the number of blackouts across New Zealand increased by 36%, while Australia experienced a 19% rise. In 2017, more than 1.7 million people were affected by power outages in Australia and New Zealand. Thus, sales of generators in Australia and New Zealand are expected to boost during the forecast period. In terms of revenue, North America and Europe are expected to contribute significantly to the global residential gas generator market during the forecast period owing to stringent regulations by EPA regarding emissions In the U.S., most power outages occurred mainly due to the weather and falling trees. For example, a powerful storm that pounded the Northeast U.S. on October 29, 2017 left more than 1.5 million customers in the dark throughout Maine, New Hampshire, and Massachusetts, some for up to three days. The lengthy blackout prompted many communities to cancel trick-or-treating activities, as utility companies brought in crews from other East Coast states to help restore electricity faster. Such factor are likely to drive the residential gas generator market.
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Key Players Operating in the Residential Gas Generator Market:
The global residential gas generator market is highly concentrated with top manufacturers accounting for approximately 40%–45% share of the market. A few key players operating in the global residential gas generator market are: Cummins Inc. Caterpillar Inc. Aggreko PLC Kirloskar Electric Co. Ltd. Himoinsa S.L. G.Wilson Inc. Briggs & Stratton Corporation Generac Power Systems Kohler Co
Global Residential Gas Generator Market: Research Scope
Global Residential Gas Generator Market, by Type Portable Stationary
Global Residential Gas Generator Market, by Power Rating Up to 100 kW More than 100 kW
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