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North American Gasoline Genset Market revenue to rise substantially through 2027
Published Date: 2021-11-19
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North American Gasoline Genset Market size is projected to show healthy growth till 2027, according to a latest forecast report by Graphical Research.
The North America market growth is on account of ongoing expansion in the mining industry and ongoing power outages across the region. Reduction in the reliability of conventional grid networks coupled with soaring electricity prices will further positively influence the business scenario. In addition, rapid adoption of smart features in the product along with rising consumer disposable income will augment the industry landscape.
Surging investments in refurbishment & expansion of existing residential complexes along with flourishing urbanization will fuel the 5 kVA-6.5 kVA gasoline gensets industry growth. In addition, the soaring demand for a reliable electricity supply across industrial sectors to efficiently run operations will, in turn, augment product deployment. Moreover, favorable government norms and policies on the enhancement of health infrastructure will accelerate the market growth.
The Class II engines segment will gain remarkable momentum during the forecast timeline due to the rapid industrialization coupled with increasing investments in the development of commercial & residential establishments. Sustainable on-site generation technologies in line with smart control distribution programs will further complement product adoption. Additionally, favorable commodity prices along with low-cost installations will augment the industry outlook.
Browse detailed statistical insights from the report, “North America Gasoline Gensets Market Forecast 2027 By Engine Class (Handheld Engines, Class I Engines, Class II Engines), By Power Rating (<2 kVA, 2 kVA - 3.5 kVA, 3.5 kVA - 5 kVA, 5 kVA - 6.5 kVA, 6.5 kVA - 8 kVA, 8 kVA - 15 kVA, 15 kVA - 20 kVA), By End-use (Residential, Commercial, Construction), Research Report, Country Outlook (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The construction-based segment is expected to grow at a significant CAGR from 2021 to 2027 owing to increasing regulatory inclination toward the replacement of conventional power generating systems with reliable long-term energy sources. Growing demand for affordable and efficient backup electricity supply will further augment product deployment. Moreover, the ability of low transmission losses, quick start up-start down, and low heat generation will stimulate the industry scenario.
The U.S. gasoline genset industry is set to witness a lucrative growth over the projected timeframe attributed to regulatory norms on the integration of safe & reliable power supply infrastructure and the booming real estate sector. The ongoing expansion in the mining industry including the offshore oil & gas industry coupled with rising demand for variable voltage infrastructures will accelerate the industry landscape. For instance, in 2020, the U.S. was hit by the hurricane, Zeta causing significant power outages in over 2.6 million houses. This factor increased the country's dependence on gensets as an emergency preparation measure for similar future events.
The North American gasoline genset market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
North America Market, By Power Rating
- < 2 kVA
- 2 kVA - 3.5 kVA
- 3.5 kVA - 5 kVA
- 5 kVA - 6.5 kVA
- 6.5 kVA - 8 kVA
- 8 kVA - 15 kVA
North America Market, By Phase
- Single Phase
- Three Phase
North America Market, By End Use
The above information has been provided for the following countries:
- North America