North America Gasoline Gensets Market worth $1.8 billion by 2027, Says Global Market Insights Inc.

North America gasoline gensets market value is set to cross USD 1.8 billion by 2027 as reported in the latest study by Global Market Insights Inc. The increasing severity of weather-related disasters followed by prolonged electric outages along with growing consumer reliance on power backup solutions will augment the market statistics. Chronic power outages and aging electric grid coupled with rising end-user preferences for emergency readiness will offer substantial impetus to the market expansion.
The 2 kVA – 3.5 kVA rated gensets segment is poised to surpass an annual installation of 600 thousand units by 2027. Shifting consumer trends toward compact units with smaller power ratings to adequately cater to their power requirements will ensure increased product deployment. Some of the key parameters accelerating product adoption are lightweight, compact design, and operational suitability. The increasing dependency of small businesses on gensets to provide continuous and uninterrupted power supply will positively impact the industry statistics.
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Some key findings of the North America gasoline gensets market report include:
Browse key industry insights spread across 165 pages with 109 market data tables & 27 figures & charts from the report, “North America Gasoline Gensets Market Statistics 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), Engine Class (Handheld Engines, Class I Engines, Class II Engines), End-Use (Residential, Commercial, Construction), Industry Analysis Report, Regional Outlook, Application Potential, COVID-19 Impact Analysis, Price Trend, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
The surging power demand driven by the booming medical tourism industry along with the availability of advanced healthcare equipment and numerous COVID-19 vaccines will positively influence unit utilization across commercial establishments. The growing electricity demand from residential establishments due to the implementation of nationwide curfews to curb the virus spread will propel the North America gasoline gensets market forecasts.
Canada gasoline gensets market is anticipated to exceed USD 150 million by 2027. The incapability of utility grids to counterbalance the burgeoning electricity demand, and its inability to provide consistent power supply to offshore areas, will constantly demand the extensive utilization of these gensets. Rising intensity of winter storms, which lead to massive blackouts and damaged distribution & transmission networks will increase the deployment of gensets.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Source: Global Market Insights Inc.