Residential Gas Power Generators Market was valued at USD 1.5 Billion in 2022 and is projected to reach USD 2.8 Billion by 2030, growing at a CAGR of 8.5% from 2024 to 2030.
Looking ahead, the demand for residential gas power generators from 2023 to 2033 is projected to continue its upward trajectory. The global natural gas generator market size was valued at USD 9.74 billion in 2024 and is projected to grow at a CAGR of 11.4% from 2025 to 2030. This anticipated growth is driven by factors such as increasing demand for reliable power supply amidst frequent outages and stringent environmental regulations favoring cleaner energy sources.
In the United States, the natural gas generator market is expected to reach a projected revenue of USD 4.28 billion by 2030, with a CAGR of 10.9% from 2022 to 2030. This growth is indicative of the increasing reliance on natural gas generators for residential power needs.
Several factors contribute to this sustained demand:
Environmental Considerations: Natural gas generators are favored for their lower emissions compared to diesel counterparts, aligning with global environmental regulations and the push for cleaner energy solutions.
Technological Advancements: Innovations in generator technology have enhanced efficiency, reliability, and user-friendliness, making them more appealing to homeowners.
Frequency of Power Outages: The increasing occurrence of power outages due to natural disasters and aging infrastructure has heightened the need for dependable backup power solutions.
Reflecting on personal experiences, the importance of a reliable backup power source cannot be overstated. In regions susceptible to severe weather, having a residential gas generator ensures that essential household functions remain uninterrupted during power outages, providing peace of mind and security.
As the market evolves, consumers are advised to consider factors such as generator capacity, fuel efficiency, and maintenance requirements when selecting a suitable model for their homes. Staying informed about the latest technological advancements and market trends will aid in making well-informed decisions.
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Between 2018 and 2022, the residential gas power generators market experienced notable growth, driven by increasing demand for reliable backup power solutions amid frequent power outages and natural disasters. This period saw a surge in the adoption of gas generators, particularly in regions prone to severe weather conditions.
According to Technavio, the residential gas generator market size was valued at USD 713.53 million in 2022, with a compound annual growth rate (CAGR) of more than 12% during the period 2018-2022. This growth was primarily attributed to the rising need for uninterrupted power supply in residential settings.
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Generac
Honda Power
Briggs and Stratton
KOHLER
Champion
Yamaha
TTI
United Power Technology
Cummins Power Systems
Eaton
Wacker Neuson
Honeywell
Hyundai Power
Sawafuji
Scott's
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Residential Gas Power Generators Market
Less than 4 KW
4- 8 KW
8-17 KW
More than 17 KW
Based on Types the Market is categorized into Below types that held the largest Residential Gas Power Generators market share In 2023.
Portable Generators
Standby Generators
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Residential Gas Power Generators Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Residential Gas Power Generators Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Residential Gas Power Generators Market, By Type
6. Global Residential Gas Power Generators Market, By Application
7. Global Residential Gas Power Generators Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Residential Gas Power Generators Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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