Residential Gas Generator Market

Residential gas generators refer to the generators that run on clean fuel sources such as natural gas, CNG, and LPG and are widely used for power generation in the residential sector. They have the ability to produce electricity in cases of emergency, power cuts, and power shortages and are designed for producing maximum electrical power with high reliability, availability, and low operating costs.

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Growing awareness regarding the natural gas as a clean and reliable fuel, decreasing natural gas fuel prices, and increasing concern towards high-pollution emission risk are some of the major factors driving the growth of the residential gas generator market. Increasing population, growing demand for electricity, coupled with the high dependency on electric based home appliances including refrigerators, television, cell phones, microwave, washing machines, lights, cameras, home security systems, among others, are propelling the demand of the market. Frequent power cuts and electric shortages are further encouraging the adoption of gas generators as backup power in grid-connected areas and act as the main power source in off-grid areas.

There is a huge growth in the demand for gas generators in the residential sector primarily due to various advantages of gas generators, including cost efficiency, operational efficiency, and higher shelf life as compared to the gasoline generators. Companies are highly focused on developing advanced gas generators with enhanced features, including automatic operation, delivery of power through the home’s electrical panel, and remote monitoring of generator from anywhere using a smartphone, tablet, or PC. Additionally, customers can easily access information, such as the current operating status and maintenance alerts of generators. All these prominent factors are expected to provide huge growth opportunities in the market during the forecast period. However, the lack of gas grid connectivity via pipeline and the presence of alternatives, including gasoline generators are expected to hamper the market growth over the forecast period.

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Based on the power rating below 100 kVA, 100-350 kVA, 350-1000 kVA, and above 1000 kVA. The 100-350 kVA segment is expected to grow at a higher CAGR in the residential gas generator market. This is attributed to the frequent power cuts and emergency power requirements in the residential sector. These gas generators are inexpensive, efficient, and can be used to support all the basic appliances at home. Various home appliances, including coffee machines, blenders, washing machines to laptops, air conditioner, television, water purifiers, and refrigerators that run on electricity, can easily run on these generators in case of power failure. This factor is anticipated to support the growth of the market during the forecast period.

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Based on the region, North America is projected to dominate the residential gas generator market owing to the growing awareness about energy efficiency and the high disposable income of the population. Moreover, the rapid economic development, increased standard of living, and the growing number of residential buildings are further supporting the market growth in the region. Frequent hurricanes and thunderstorms that cause disruption to the well-established but aging electricity transmission network in the region is further supporting the market growth in the region. Increasing demand for gas generators due to the growing concerns over diesel maintenance and refuelling issues is further surging the market demand. Moreover, strict norms by governments to counter the high-pollution emission risk are promoting the usage of environment-friendly gas generators. On the other hand, the Asia-Pacific region is anticipated to witness a faster CAGR in the residential gas generator market during the forecast period, primarily due to the rising per capita disposable income, along with the increasing demand for electricity in the residential sector across the region. The rising number of residential buildings and infrastructures in developing countries, including China, Japan, India, and South Korea, are further propelling the demand for electricity for running home appliances used in homes, thereby driving the growth of the market in the region.

Various notable players operating in the global residential gas generator market include Cummins Inc., Aggreko Plc, Caterpillar Inc., Kirloskar Electric Company, Briggs & Stratton Corporation, Himoinsa S.L., Generac Power Systems, Inc., Kohler Co., Atlas Copco AB, and Perfect Gas Generator, among other.

 Key Developments: 

• • In 2020, Cummins Inc., entered into a joint venture with NPROXX, one of the leading in hydrogen storage and transportation, for hydrogen storage tanks. The joint venture will continue under the name NPROXX and help in enhancing hydrogen storage capabilities together with strengthening the natural gas, diesel, electrified power, fuel cells, hybrids, and other solutions.
  • In 2019, Origin Engines, partnered with KOEL Americas Corp., the wholly-owned US subsidiary of Kirloskar Oil Engines Ltd for the manufacturing of heavy duty gas engine line up to 500kW. This partnership will help both the companies in enhancing their product portfolio, along with strengthening customer base in the U.S. gas engine industry.
  • In 2018, EPAL, a joint venture between India’s EESL (Energy Efficiency Services Ltd) and UK based EnergyPro Asset Management Ltd acquired Edina, one of the leading total solutions provider for CHP, gas and diesel power generation in U.K. This acquisition would provide the new owners of the company a platform for growth in both the U.K. and overseas market.

The global residential gas generator market has been segmented on the basis of power rating and regions. Based on the power rating below 100 kVA, 100-350 kVA, 350-1000 kVA, and above 1000 kVA.

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Key questions answered in this research report:

• • At what pace is global Residential Gas Generator market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Residential Gas Generator market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Residential Gas Generator market?
  • Which power rating generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various power ratings of global Residential Gas Generator market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Residential Gas Generator Market by Power Rating

• • Below 100 kVA
  • 100-350 kVA
  • 350-1000 kVA
  • Above 1000 kVA

Global Residential Gas Generator Market by Region

• • North America Residential Gas Generator Market (Option 1: As a part of the free 25% customization)
    • North America Residential Gas Generator Market by Power Rating
    • US Residential Gas Generator Market All-Up
    • Canada Residential Gas Generator Market All-Up
  • Europe Residential Gas Generator Market (Option 2: As a part of the free 25% customization)
    • Europe Residential Gas Generator Market by Power Rating
    • UK Residential Gas Generator Market All-Up
    • Germany Residential Gas Generator Market All-Up
    • France Residential Gas Generator Market All-Up
    • Spain Residential Gas Generator Market All-Up
    • Rest of Europe Residential Gas Generator Market All-Up
  • Asia-Pacific Residential Gas Generator Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Residential Gas Generator Market by Power Rating
    • China Residential Gas Generator Market All-Up
    • India Residential Gas Generator Market All-Up
    • Japan Residential Gas Generator Market All-Up
    • Rest of APAC Residential Gas Generator Market All-Up
  • RoW Residential Gas Generator Market (Option 4: As a part of the free 25% customization)
    • RoW Residential Gas Generator Market by Power Rating
    • Brazil Residential Gas Generator Market All-Up
    • South Africa Residential Gas Generator Market All-Up
    • Saudi Arabia Residential Gas Generator Market All-Up
    • UAE Residential Gas Generator Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Residential Gas Generator Market All-Up

Global Residential Gas Generator Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Cummins Inc.
  • Aggreko Plc
  • Caterpillar Inc.
  • Kirloskar Electric Company
  • Briggs & Stratton Corporation
  • Himoinsa S.L.
  • Generac Power Systems, Inc.
  • Kohler Co.
  • Atlas Copco AB
  • Perfect Gas Generator