Press release
Residential Generators Market Reliable Backup Power for Homes 2023 to 2030 | Generac, Honda Power, Briggs & Stratton, KOHLER
The Worldwide Residential Generators Market size was valued at $9.5 billion in 2020, and is projected to reach $15.1 billion by 2030, growing at a CAGR of 4.7% from 2021 to 2030. Residential generators are utilized to provide temporary power when there is a power outage in a distant place.
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The Key companies profiled in the Residential Generators Market:
The study examines the Residential Generators Market's competitive landscape and includes data on Generac, Honda Power, Briggs & Stratton, KOHLER, Champion, Yamaha, TTI, United Power Technology, Cummins Power Systems, Eaton, Wacker Neuson, Honeywell, Hyundai Power, Sawafuji, Scott's, Pramac, HGI, Mi-T-M & Others.
The residential generators market has experienced significant growth due to the expanding customer base and heightened awareness of the importance of uninterrupted power supply. Rapid urbanization, particularly in developing countries, and the increasing adoption of smart homes have also contributed to market expansion. Moreover, advancements in generator technology, including improved efficiency, reduced emissions, and enhanced automation, have opened up new opportunities for manufacturers and suppliers.
Global Residential Generators Market Segment by Type & Applications:
This report segments the Residential Generators Market on the basis of Types:
Portable Diesel Type
Portable Gasoline Type
Portable Other (Gas, Propane) Type
Standby Diesel Type
Standby Gasoline Type
Standby Other (Gas, Propane) Type
On the basis of Application, the Residential Generators Market is segmented into:
Less than 4 KW
4- 8 KW
8-17 KW
More than 17 KW
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Regions are covered by the Residential Generators Market Report 2023 to 2030
North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
Key Benefits of Residential Generators:
Power Security: Residential generators ensure continuous electricity supply during blackouts, reducing disruptions to daily life and safeguarding critical appliances and systems.
Flexibility: Homeowners can choose from a variety of generator types and sizes based on their specific power needs and budget.
Value Addition: Installing a residential generator can increase the overall value of the property, making it an attractive feature for potential buyers.
Peace of Mind: Knowing that a reliable backup power source is in place brings peace of mind to homeowners, especially during inclement weather or other emergencies.
Research Methodology: The research methodology employed for studying the residential generators market includes data collection from primary sources like industry experts, manufacturers, and customers through interviews and surveys. Additionally, secondary sources like industry reports, market studies, and government publications are leveraged to gather relevant data and insights. The collected information is analyzed, and trends, market dynamics, growth prospects, and challenges are identified. A comprehensive approach ensures the accuracy and reliability of the market analysis, providing valuable guidance for market participants and stakeholders.
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Trends & Demand Drivers in the Residential Generators Market:
Integration of Smart Technology: Increasing integration of smart technology allows for remote monitoring and control of residential generators through smartphones and other devices, enhancing user convenience and accessibility.
Eco-Friendly Solutions: There is a growing demand for environmentally friendly and energy-efficient generators, leading to the rise of solar-powered and hybrid residential generators.
Resilience against Climate Change: Rising instances of severe storms and extreme weather events drive the need for residential generators as a precautionary measure against prolonged power outages.
Energy Storage Integration: The integration of residential generators with energy storage systems, such as batteries, is gaining traction, enabling better load management and enhanced grid interaction.
Challenges & Risks in the Residential Generators Market:
High Initial Costs: The initial investment for purchasing and installing a residential generator can be a deterrent for some homeowners.
Noise and Emissions Concerns: Traditional generators may produce noise and emissions, raising environmental and regulatory challenges.
Competition from Alternative Energy Sources: The increasing popularity of solar panels and renewable energy sources for residential applications may pose a competitive threat to conventional generators.
Maintenance and Fuel Requirements: Regular maintenance and fuel availability can be logistical challenges for homeowners, affecting the overall performance and reliability of generators.
Major Points from Table of Contents:
Chapter 1: Residential Generators Market Overview
Chapter 2: Company Profiles
Chapter 3: Residential Generators Market Competition, by Players
Chapter 4: Residential Generators Market Size Segment by Type
Chapter 5: Residential Generators Market Size Segment by Application
Chapter 6: North America by Country, by Type, and by Application
Chapter 7: Europe by Country, by Type, and by Application
Chapter 8: Asia-Pacific by Region, by Type, and by Application
Chapter 9: South America by Country, by Type, and by Application
Chapter 10: Middle East & Africa by Country, by Type, and by Application
Chapter 11: Research Findings and Conclusion
Chapter 12: Appendix...
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