Portland, OR, Sept. 09, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global residential generators market generated $9.5 billion in 2020, and is estimated to reach $15.1 billion by 2030, witnessing a CAGR of 4.7% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Increase in demand for low-cost and diesel-fueled generators, preference for natural gas-fueled generators, and surge in instances of power outages with aging grid infrastructure and unfavorable weather conditions drive the growth of the global residential generators market. However, limited power generation capacity of portable generators hinders the market growth. On the other hand, rise in urbanization, increase in number of commercial projects, and adoption of dual fuel and inverter portable generators create new opportunities in the coming years.
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Covid-19 Scenario:
- Manufacturing activities of residential generators halted due to lockdown measures taken place across many countries. Manufacturing facilities have been closed down partially or temporarily due to supply chain disruptions, unavailability of workforce, and shortage of raw materials.
- The installation activities of new generators and maintenance activities were delayed during the lockdown. However, the operations would get back on track during post-lockdown.
The report offers detailed segmentation of the global residential generators market based on type, fuel type, power rating, and region.
Based on fuel type, the diesel segment held the highest share in 2020, contributing to more than two-thirds of the total share, and is projected to maintain its leadership status during the forecast period. However, the gasoline segment is expected to manifest the highest CAGR of 4.9% from 2021 to 2030.
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Based on type, the portable segment contributed to the highest share in 2020, holding nearly three-fifths of the total share, and is expected to continue its lead position throughout the forecast period. Moreover, this segment is projected to register the largest CAGR of 4.9% from 2021 to 2030. The report also analyzes the stationary segment.
Based on region, Asia-Pacific held the highest share in 2020, accounting for around two-fifths of the total share, and is estimated to continue its dominant share in terms of revenue by 2030. Moreover, this region is expected to portray the fastest CAGR of 4.9% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
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Leading players of the global residential generators market analyzed in the research include Atlas Copco AB, Caterpillar Inc., Briggs & Stratton Corporation, Cummins Inc., Champion Power Equipment, Inc., Generac Holdings Inc., Eaton Corporation PLC, Kohler Co., Honda Motor Co Ltd., and Scott's Emergency Lighting.
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