North America Gasoline Gensets Market size is anticipated to grow at a significant CAGR between 2021 and 2027 owing to rising construction activities across the region along with a growing requirement for reliable & constant power supply. A gasoline based genset is gasoline fueled unit serving the purpose of electricity production which is likely to be compared with portable gensets. These systems are commonly installed for supplying backup power to construction sites, households, and outdoor recreational activities. In addition, reducing commodity prices coupled with accessibility to fuel availability will influence the market expansion.
North America Market, By Power Rating
Surging investments in the expansion of residential facilities along with the lack of microgrids across remote areas will drive the < 2.5 kVA-based gasoline gensets market in North America. Reducing electricity per unit cost and rising high-capacity products will sustain product adoption across the region. High efficiency, reliability, and smooth operational performance combined with quick power supply for applications including back up power and construction activities will augment the market landscape.
North America Market, By Engine Class
Class I engines are expected to rise substantially till 2027, on account of growing investments in the real estate sector for power back up and technological enhancements combined with their low maintenance, one-time investment, and flexibility to operate in varying load & voltage ranges. Moreover, extreme weather events, such as the 2021 Texas power outrage, lead to an upsurge in the demand for gasoline gensets across the state.
North America Market, By End-use
The residential-based gasoline gensets market is projected to surge exponentially through 2027, due to rising product installations along with increasing electricity bills. Continuous enhancements for an efficient diesel cycle to compensate initial stroke requirements will further stimulate product deployment. Furthermore, constant supply, 24 hours availability, and higher cycle output will foster market demand across the region.
North America Market, By Country
Rising demand for reliable power supply in power generation applications across the industrial sectors in line with the growing economy will boost product penetration across Canada. Shifting government focus on rapid backup supply requirements will further fuel the market revenue. For instance, the state utility, Yukon Energy rented 17 portable diesel units for approximately USD 4.1 million for October 2020 winters.
Competitive Industry Landscape
Key players in the North America gasoline gensets market include Cummins Inc., Kirloskar, Lifan Power USA, A-iPower Corp., SUMEC Machinery & Electric Co., Ltd., Champion Power Equipment, Caterpillar Inc., Deere & Company, Atlas Copco North America LLC, Wacker Neuson SE, and Generac Power Systems, Inc., among others.