Gasoline Generator Sets Market Size, Share, Growth, and Industry Analysis, By Type (Single-phase and Three-phase), By Application (Mobile and Stationary), Regional Forecast To 2031

Updated On: 22 April 2024

Gasoline Generator Sets Market REPORT OVERVIEW

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global gasoline generator sets market size was USD 931.1 million in 2023 and market is projected to touch 1344.5 million by 2031, exhibiting a CAGR of 4.7% during the forecast period.

Gasoline generator sets, also known as petrol generator sets, are portable or stationary power generation devices that run on gasoline (petrol) fuel. These generator sets are widely used to provide electrical power in various situations, especially during power outages or in remote locations where a reliable power supply is not readily available.

The engine is the core component that runs on gasoline and converts its chemical energy into mechanical energy. It drives the generator to produce electricity. The alternator, also known as the generator head, is responsible for converting the mechanical energy from the engine into electrical energy. It generates alternating current (AC) electricity. Gasoline generator sets have an integrated fuel tank to store the gasoline fuel needed to power the engine. A voltage regulator ensures a stable and consistent output voltage, which is crucial for sensitive electronic devices. Gasoline engines produce exhaust gases during operation, and a muffler or exhaust system helps to reduce noise and direct the exhaust fumes away from the user.

COVID-19 IMPACT: Impact on Industrial and Construction Sectors resulted in Recession of the Market

COVID-19 had a life changing impact globally. The Gasoline generator sets market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected.

Covid-19 affected various industries, including construction and manufacturing. These sectors are significant users of gasoline generator sets, and disruptions in these industries could have impacted the demand for generators. The pandemic led to widespread lockdowns, reduced economic activity, and uncertainty, affecting consumer spending. Many businesses and individuals postponed non-essential purchases, including power generators, which impacted the demand for gasoline generator sets.

The pandemic prompted increased awareness of health and safety concerns, which may have led to stricter regulations or guidelines for the safe use and maintenance of generator sets. While demand for generators initially surged due to concerns over potential power grid disruptions and increased preparedness, this trend may have been temporary and subject to regional variations. As the pandemic evolved and lockdown measures eased, demand dynamics might have changed. The market is anticipated to boost the gasoline generator sets market share following the pandemic.

LATEST TRENDS

"Inverter Technology to Broaden Market Growth"

Inverter technology has been gaining popularity in gasoline generator sets. Inverter generators provide a more stable and consistent power output, making them suitable for sensitive electronic devices like laptops, smartphones, and other electronics. With a growing emphasis on environmental concerns and fuel efficiency, manufacturers are focusing on developing gasoline generator sets that meet stricter emission standards and consume fuel more efficiently. Noise reduction features have become a focal point for generator manufacturers. Quieter operation is desirable, especially in residential areas or during camping and outdoor activities.

Some gasoline generator sets now come with smart features that allow remote monitoring, control, and scheduling via mobile apps. These features provide convenience and allow users to manage their generators more efficiently. As with many industries, the sales of gasoline generator sets have seen a shift towards online channels. E-commerce platforms have become essential distribution channels for generator manufacturers and retailers. These latest developments are anticipated to boost the gasoline generator sets market share.

Gasoline Generator Sets Market SEGMENTATION

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• By Type

Based on type, the market is divided into single-phase and three-phase.

• By Application

Based on application, market is segmented into mobile and stationary.

DRIVING FACTORS

"Increased Demand for Residential Backup Power to Boost Market Share"

With the growing frequency of extreme weather events and the need for reliable power supply at homes, there has been an increased demand for gasoline generator sets as backup power solutions for residential use. There is an increasing demand for compact and lightweight gasoline generator sets, especially in applications like camping, outdoor events, and mobile power solutions. Given the periodic need for backup power in certain regions or during specific events, rental services for gasoline generator sets have gained popularity, providing cost-effective solutions for short-term power requirements.

"Technological Advancements to Boost Market Size"

Combining gasoline generator sets with energy storage technologies, such as batteries, can enhance power stability and efficiency, especially in hybrid energy systems. Hybrid generators that can operate on multiple fuels (e.g., gasoline and propane) or in combination with renewable energy sources are gaining popularity, offering flexibility and potential cost savings. The integration of smart technology into gasoline generator sets allows for remote monitoring, control, and automation. These features enhance user convenience and help with maintenance and troubleshooting. These factors are anticipated to drive the gasoline generator sets market share.

RESTRAINING FACTORS

"Environmental Impact to Hamper Market Share"

Gasoline generator sets emit greenhouse gases and other pollutants during operation, contributing to air pollution and environmental degradation. Increasing environmental awareness and regulations may restrain the market growth as consumers and industries seek more eco-friendly power generation alternatives. With the growing emphasis on renewable energy and sustainable power generation, there is an increasing shift towards alternative fuels and cleaner technologies, such as solar, wind, and battery storage. This transition can potentially limit the market growth for gasoline generator sets in certain applications. The market may experience a shift towards hybrid and dual-fuel generator solutions, where gasoline generators can operate in conjunction with other fuels or renewable energy sources, potentially reducing the reliance on gasoline-only units. The factors are anticipated to hinder the growth of the gasoline generator sets market share.

Gasoline Generator Sets Market REGIONAL INSIGHTS

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"Asia-Pacific Holds the Major Share of the Global Market"

The Asia-Pacific region is home to some of the world's most populous countries, including China and India. Rapid population growth, along with expanding economies, has led to increased industrialization, urbanization, and infrastructure development, all of which drive the demand for gasoline generator sets. The rapid urbanization in many Asia-Pacific countries has led to increased demand for reliable power sources, both in urban centres and in areas transitioning from rural to urban landscapes. North America is the second major shareholder if the market.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• BELTRAME CSE [Italy]
• Black & Decker [U.S.]
• BRIGGS and STRATTON [U.S.]
• Bruno generators [Italy]
• Campeon [Mexico]
• China Lutian Machinery Co., Ltd [China]
• Coelmo spa [Italy]
• Fujian Mindong Electric Co., Ltd [China]
• GENMAC SRL [Italy]
• Honda Power Equipment [Japan]
• Inmesol [Spain]
• JCB Power Products Ltd [U.K.]
• MOSA [Italy]
• Power Tech Mobile Generators [U.S.]
• SDMO [France]
• Westerbeke [U.S.]
• Worms Entreprises [France]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.