Research Nester published a report titled “United States (U.S.) Generator Market: Demand Analysis & Opportunity Outlook 2025” which delivers detailed overview of the United States (U.S.) generator market in terms of market segmentation by power capacity, fuel type, application, end-use industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The United States (U.S.) generator market is anticipated to grow with a CAGR of 4.0% over the forecast period, i.e., 2021 – 2025. The market is segmented by end-use industry into residential, commercial, industrial, healthcare facilities, agriculture & food processing, infrastructure/transportation, retail K-12 education, higher education & research, military, municipality, and others, out of which, the residential segment registered the highest market share in the year 2018 and is further expected to retain this position by the end of 2025, and further attain a revenue of USD 1270.1 Million by the end of 2025.
The United States (U.S.) generator market is estimated to garner a revenue of USD 7216.5 Million by the end of 2025. Further, the market registered a revenue of USD 6021.6 Million in the year 2020. Increasing economical activities in the country, followed by the growing construction in commercial and residential sectors, and the surge in power outages, along with the rising demand for reliable power sources are some of the major factors anticipated to drive the market growth in the coming years.
The United States (U.S.) generator market is segmented by states into Alaska, Hawaii, Washington, Oregon, California, and the Rest of U.S., out of which, the market in California is expected to garner the second-largest market revenue of USD 1804.1 Million by the end of 2025, up from a revenue of USD 1561.3 Million in the year 2020. One of the major factors expected to contribute to the market growth in the state is the increasing consumption of electricity in several counties, such as Los Angeles, Santa Clara, Alameda, and others.
Increasing Economical Activities in the U.S. to Create Opportunities for Market Growth
The GDP (in current Dollars) in California, New York, and Texas, according to the statistics by the Bureau of Economic Analysis of the Government of the United States, touched USD 3091871.5 Million, USD 1699044.7 Million, and USD 1759734.4 Million respectively in the year 2020, up from USD 1973511.9 Million, USD 1212485.1 Million, and USD 1237304.0 Million respectively in the year 2010.
Backed by the rising economical activities in the country, especially in commercial, residential and industrial sectors, the demand for reliable power sources is expected to increase significantly. Moreover, with the increasing consumption of electricity and the surge in power outages, the demand for standby power sources is projected to grow massively, and in turn drive the growth of the United States (U.S.) generator market.
However, the stringent norms regarding emissions from generators is expected to operate as key restraint to the growth of United States (U.S.) generator market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the United States (U.S.) generator market which includes company profiling of Cummins Inc., AKSA POWER GENERATION, DEUTZ AG, Siemens AG, Caterpillar Inc., Briggs & Stratton, LLC, Generac Power Systems, Inc., Rolls-Royce plc, Kohler Co., Mitsubishi Heavy Industries, Ltd., Taylor Power Systems, Inc., Gillette Generators, WINCO, Multiquip Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the United States (U.S.) generator market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.