Gasoline Generator Market: Residential End Use Sector to Lead in Terms of Market Share During the Forecast Period: Global Industry Analysis 2012 - 2016 and Opportunity Assessment 2017 - 2027
- Rep Id : XPLREP1553
- Published On : September, 2017
- No. of Pages : 291
- Category : Industrial Automation
- Publisher : Future Market Insights
Product innovations lead to limitless opportunities for gasoline generators
The global gasoline generator market is brutally competitive and small players struggle to make their mark. Continuous innovation is a necessity and companies must adopt it as a key strategy to remain competitive as new technologies can provide huge opportunities in the gasoline generator market. Weight and noise reduction in portable gasoline generators and ever-more affordable products can result in massive penetration in the residential sector. Furthermore, improvement in overall efficiency can allow regional and global manufacturers in the gasoline generator market to strike when the iron is hot.
Advanced features strike a chord in the residential and commercial sectors
Gasoline generators find widespread application in the commercial and residential end user sectors of the gasoline generator market for standby backup power in the event of grid failure. Gasoline generators are compact and can easily be shifted from one location to another with ease, assisting their acceptance in the residential sector. In case of a rolling blackout, residential end users have a number of electronic appliances that need to be used.
Residential sector critical in the gasoline generator market
The residential sector accounts for 60% share of the gasoline generator market by end use and is expected to grow to 62% by the end of the forecast period in 2027. The segment is predicted to gain a massive 150 BPS by that time at the expense of all other end users in the gasoline generator market. Gasoline generators are preferred over their diesel counterparts by residential users because of their lower cost.
In addition to this, gasoline generators are compact and air cooled, beneficial and useful in the residential sector of the gasoline generator market. The residential sector has the maximum market attractiveness index of 5.0 and is projected to have a value of more than half a billion dollars in 2027.
Booming global construction industry requires gasoline generators
The construction industry is important across the world and is particularly prominent in the U.S. and China. There has been substantial growth in the former in the last few years. The U.S. Census Bureau states that non-residential construction spending has increased immensely and it is on track to witness a robust CAGR over the course of the forecast period. The construction industry should demand more portable generators that should boost the profile of the global gasoline generator market.
Since the year 2010, there has been a continuous rise in the U.S. non-residential construction spending and key stakeholders in the gasoline generator market are advised to take this into account while devising their business strategies. The North America gasoline generator market Others segment that includes construction is predicted to be worth approx. US$ 13 million in 2017 alone.
Frequent blackouts fuel the growth of the gasoline generator market
National grids of emerging economies can rarely cope with the surge in demand and capacity from their newly affluent citizens. The yawning chasm between the demand and supply causes power outages and rolling blackouts leading to millions of citizens being without power for hours if not days. Therefore, the gasoline generator market can be considered a saving grace for these people. For e.g. – The spare capacity of the U.K. national grid was 15% in 2010 and this has dropped to only 4% recently.