Residential Generators Market Analysis and Sze Forecasted for period from 2024 to 2031

Market Overview and Report Coverage

Residential generators are backup power systems designed to provide electricity during power outages, ensuring uninterrupted operation of essential home appliances and devices. These generators are typically powered by natural gas, diesel, or propane, and come in various sizes to suit different energy needs.

The current outlook of the Residential Generators Market is promising, with a projected growth rate of % during the forecasted period. The increasing frequency of power outages due to extreme weather events, aging power infrastructure, and growing demand for reliable power supply in residential settings are driving the market growth. Additionally, rising awareness about the benefits of residential generators in ensuring safety, comfort, and convenience during emergencies is contributing to the market expansion.

The market forecast for residential generators indicates steady growth, fueled by technological advancements in generator design, remote monitoring capabilities, and the integration of renewable energy sources. Latest market trends include the adoption of smart home automation features, increased focus on energy efficiency, and the development of eco-friendly generator models. Overall, the residential generator market is poised for significant growth in the coming years.

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Market Segmentation

The Residential Generators Market Analysis by types is segmented into:

• Portable Diesel Type
• Portable Gasoline Type
• Portable Other (Gas, Propane) Type
• Standby Diesel Type
• Standby Gasoline Type
• Standby Other (Gas, Propane) Type

The residential generators market can be categorized into six types based on their fuel source and portability. Portable generators come in diesel, gasoline, and other (such as gas or propane) types, offering flexibility and ease of use. Standby generators, on the other hand, are available in diesel, gasoline, and other (such as gas or propane) types, providing a more permanent and reliable backup power solution for residential properties. Each type offers unique advantages and caters to different needs of homeowners.

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The Residential Generators Market Industry Research by Application is segmented into:

• Less than 4 KW
• 4- 8 KW
• 8-17 KW
• More than 17 KW

The residential generators market includes a range of applications based on power capacity. Generators with less than 4 kW capacity are suitable for powering basic household appliances during outages. Units in the 4-8 kW range can provide increased backup power for larger homes or more appliances. Those in the 8-17 kW category are ideal for medium-sized residences or homes with higher power requirements. Generators over 17 kW are designed for large homes or properties with significant power needs, providing ample backup power during emergencies.

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In terms of Region, the Residential Generators Market Players available by Region are:

North America:

• United States


• Canada

Europe:

• Germany


• France


• U.K.


• Italy


• Russia

Asia-Pacific:

• China


• Japan


• South Korea


• India


• Australia


• China Taiwan


• Indonesia


• Thailand


• Malaysia

Latin America:

• Mexico


• Brazil


• Argentina Korea


• Colombia

Middle East & Africa:

• Turkey


• Saudi


• Arabia


• UAE


• Korea

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What are the Emerging Trends in the Global Residential Generators market?

The global residential generators market is witnessing several emerging trends, including the increasing demand for clean energy solutions, leading to a rise in the adoption of solar-powered generators. Additionally, there is a growing focus on smart and connected generators that can be monitored and controlled remotely. In terms of current trends, there is a rising awareness of the importance of having a reliable backup power source in residential settings, leading to an uptick in the sales of residential generators. Moreover, advancements in technology such as improved fuel efficiency and reduced noise levels are driving the market growth.

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Major Market Players

Generac, Honda Power, and Briggs & Stratton are among the key players in the global residential generators market. Generac is a leading provider of residential, commercial, and industrial backup power solutions. The company has shown significant growth in recent years due to the increasing demand for reliable power sources amid frequent power outages. Honda Power is known for its high-quality portable and standby generators, catering to the residential market segment. On the other hand, Briggs & Stratton offers a wide range of residential generators with advanced features and efficient performance.

The residential generators market is witnessing a surge in demand due to factors such as increasing frequency of natural disasters, growing awareness regarding emergency preparedness, and rising adoption of smart home technologies. The market is expected to continue its growth trajectory in the coming years, driven by the need for reliable power sources in residential settings.

According to market research reports, the global residential generators market was valued at around $ billion in 2020 and is projected to reach over $6 billion by 2027, growing at a CAGR of over 6% during the forecast period.

Generac reported total sales revenue of $2.1 billion in 2020, showing a strong performance in the residential generators segment. Honda Power recorded sales revenue of $1.5 billion in the same year, indicating its significant market presence. Briggs & Stratton, with sales revenue of $1 billion, also maintained a competitive position in the residential generators market.

Overall, the key players in the residential generators market are focusing on product innovation, strategic partnerships, and geographical expansion to strengthen their market position and cater to the growing demand for reliable backup power solutions in residential settings.

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