The report provides The global market for residential generators is forecast to reach US$11.2 billion by 2024 driven by the growing popularity of backup power to energize a house especially against the backdrop of rising number of smart connected homes and buildings where uninterrupted energy supply is almost a sacrosanct need. Rising electricity consumption supported by growing population and rapid industrialization juxtaposed with aging power supply and distribution infrastructure is creating a world of unstable electricity supply and distribution. Governments, industries and individual homeowners, under this scenario are increasingly focusing on creating and ensuring a more secure electricity supply. Aging energy infrastructure in developed economies and poor quality infrastructure in developing countries represent the single largest threat to energy security and the biggest growth driver for residential generators. Stressed electric grids and power delivery networks amplify the risk of blackouts, a scenario which can be least afforded in the current era of digitalization and electronification. Europe represents the largest market worldwide. Other major factors influencing growth include recovery in home prices and property value and growth in residential construction activity; growing importance of residential energy management and the ensuing demand for standby generators; rising popularity of portable residential generators backed by benefits such as easy portability, low installation costs and cheap maintenance; effervescent technology innovation; and focus on reducing carbon footprint and the resulting emphasis placed on noise-free, ecologically friendly generators with advanced high efficiency internal combustion engines. Europe and Asia remain equally large markets worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 5.5% over the analysis period, led by factors such as growing population and government focus on smart cities and homes for sustainable living; widespread engineered electrical power shutdown and rolling blackouts in developing economies as a means to cope with electricity demand in excess of utility network capability; growing base of affluent middle class population with an insatiable appetite for electronic living and entertainment and the resulting increase in digital home networks hardwired for pervasive intelligence, ubiquitous connectivity and uninterrupted power supply.
Download Free Sample Pages of this report
Company and Industry News & Stories
- Honda Introduces New EU2200i Portable Inverter Generator, the Perfect Portable Generator for Work, Home or Play
- Caterpillar Introduces New Cat INV2000 and Cat RP12000E Generators as a Part of its Home and Outdoor Power Line
- Briggs & Stratton Launches Q6500 QuietPower™ Series Inverter Generator Designed to Deliver Big Power in a Quiet and Small Package
- Briggs & Stratton Announces the First Bluetooth-Enabled Portable Generator for Making it Easy and Convenient for Operators to Monitor the Generator from the Comfort of Their Home or Office
Product Definition & Scope
- A residential generator is an engine-powered generator that converts mechanical energy into electrical energy for generating electricity through electromagnetic induction. They serve electricity household lighting, cooling, refrigeration, heating and other electronic appliances/devices even during power outages. An electric generator is categorized as AC (alternating current) generators or DC (direct current) generators. Gasoline-powered electric generators are the most common type of residential generators.
Timeline for Analysis
- Market Estimates and Forecasts for 2016-2024
- Historic Review 2011-2015
Geographic Markets Analyzed
- US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World
- Atlas Copco AB
- Caterpillar Inc.
- Champion Power Equipment, Inc.
- Generac Power Systems, Inc.
- Honeywell International Inc.
- Kohler Co.
- Siemens Corporation
- Westinghouse Electric Corporation
How Can You Benefit?
This research project broadly covers analysis of all market trends, drivers, challenges and other macro market scenarios you need to know to improve your strategic planning and remain informed and competitive. The study also provides reliable ready facts and exclusive statistical data insights in addition to expert and highly accurate market size forecasts and projections to help you identify new markets and opportunities for revenue growth and sustainability. The extensive reportage of industry, company and product news and stories together with coverage of all major and niche players provided in the report helps you build a 360 degree perspective on your markets and gain unsurpassed insights needed to devise plans and strategies to maximize business growth.separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Annual estimates and forecasts are provided for the period 2016 through 2024. Also, a five-year historic analysis is provided for these markets.
Market data and analytics are derived from primary and secondary research. Company profiles are primarily based on public domain information including company URLs.
The report profiles 32 companies including many key and niche players such as -
American Honda Motor Co., Inc.
Briggs and Stratton Corp.
Champion Power Equipment, Inc.