Rise in cases of power outages is boosting the U.S. residential generators market value. The demand for residential generators in the U.S. during power outages has grown significantly due to extreme temperatures and severe thunderstorms.
Growth in demand for clean power backup solutions is also fueling the U.S. residential generators market dynamics. Concerns regarding environmental pollution and carbon emissions are propelling the demand for natural gas generators in the U.S.
The residential sector growth in the country is slowing due to the rise in mortgage rates and inflation. Labor shortages and supply chain issues are also adversely impacting the sector. These factors are estimated to limit the demand for residential generators to a certain extent.
R&D of affordable and automatic generators is likely to offer lucrative U.S. residential generators market opportunities to vendors. Manufacturers are offering standby generators that are significantly quieter than portable generators.
Residential generators are used in the residential sector as backup power or even primary power. These generators can power various home appliances including air conditioners, water heaters, and kitchen appliances. They provide power during an outage and can be suitable for remote areas.
Stationary and portable are the two types of home generators. Stationary generators, also known as standby generators, are permanently installed outside the home. They facilitate backup power as soon as there is an outage. They have high fuel capacity and can usually operate for days or even weeks.
The base fuel tank capacity of these generators can be around 400-600 liters. They can be complemented with additional off-the-shelf or bespoke free-standing fuel tanks to further increase their operational hours. Stationary generators are considered a reliable standby power solution in the case of an emergency. However, their cost is higher than portable generators.
Portable generators are compact and easy to move. These models can be stored in a garage, basement, or shed. They usually run on gas or propane. Portable generators are suitable for short-term power outages as they produce lower power than their standby counterparts.
Inverter generators, another type of home generator, are gaining traction in the U.S. residential generators market landscape as a power backup solution for charging electronic devices such as mobile phones and laptops.
| Attribute | Detail |
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| Drivers |
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Many states in the U.S. are facing a power disconnection crisis amid rising heat. Alabama and Florida are particularly experiencing high disconnection rates. Dothan’s municipal utility has disconnected an average of 5% of its customers whereas the city of Tallahassee has a disconnection rate of over 4%.
In May 2024, Virginia declared a state of emergency for a few impacted counties due to severe thunderstorms that brought high winds, downed trees, and power outages. Hot weather places significant demand on the electricity system.
This demand has increased over recent decades with the growth in the use of air conditioners in homes and businesses. Thus, increase in cases of power outages owing to extreme temperatures and severe thunderstorms is augmenting the U.S. residential generators market demand.
Diesel generators are gaining traction among the populace due to their reliability and durability. These generators are less likely to fail or break down compared to other types of generators, making them a popular choice for backup power in emergency situations. However, increase in concerns regarding pollution is likely to limit the demand for diesel generators in the near future.
Natural gas generators are a cleaner source of power than their diesel counterparts. Major residential generator manufacturers are offering air-cooled and liquid-cooled whole-house natural gas backup generators with variable power capacities.
Surge in demand for clean power backup solutions is boosting the demand for natural gas generators, thereby contributing to the U.S. residential generators market growth.
According to the U.S. Census Bureau, in 2023, residential construction in the U.S. decreased for the second consecutive year. 1.41 million new houses were built last year, down 9% on 2022. This trend is estimated to continue for the year 2024.
According to the National Association of Home Builders (NAHB), total housing starts are expected to decrease 3.4% to 1.37 million units, with single-family starts rising 4.7% but multifamily starts decreasing 19.7% from 2023. Hence, decline in the residential sector is likely to limit the U.S. residential generators market revenue during the forecast period.
Key players operating in the U.S. residential generators market are offering rental services to expand their customer base. Generator rental services can be ideal during emergencies, especially for critical applications and remote areas with no grid connectivity.
Vendors are also offering a wide range of products and services, including diesel, gas, and propane generators, along with installation, maintenance, and refueling services.
Generac Power Systems, Inc., Cummins Inc., Caterpillar, HIMOINSA, Kohler Co., Atlas Copco AB, Siemens, Honeywell International Inc., Yamaha Generators, Honda Motor Co., Ltd., and Briggs & Stratton are major players operating in the U.S. residential generators industry.
These companies have been profiled in the U.S. residential generators market report based on various parameters including company overview, business segments, product portfolio, recent developments, business strategies, and financial overview.
| Attribute | Detail |
|---|---|
| Market Size in 2023 | US$ 1.1 Bn |
| Market Forecast (Value) in 2034 | US$ 1.8 Bn |
| Growth Rate (CAGR) | 4.5% |
| Forecast Period | 2024-2034 |
| Historical Data Available for | 2020-2022 |
| Quantitative Units | US$ Bn for Value and Units for Volume |
| Market Analysis | It includes segment analysis. Furthermore, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces Analysis, value chain analysis, and key trend analysis. |
| Competition Landscape |
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| Format | Electronic (PDF) + Excel |
| Market Segmentation |
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| Companies Profiled |
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| Customization Scope | Available upon request |
| Pricing | Available upon request |
It was valued at US$ 1.1 Bn in 2023
It is anticipated to grow at a CAGR of 4.5% from 2024 to 2034
It is expected to reach US$ 1.8 Bn by the end of 2034
Rise in cases of power outages and growth in demand for clean power backup solutions
Generac Power Systems, Inc., Cummins Inc., Caterpillar, HIMOINSA, Kohler Co., Atlas Copco AB, Siemens, Honeywell International Inc., Yamaha Generators, Honda Motor Co., Ltd., and Briggs & Stratton
1. Executive Summary
1.1. U.S. Market Outlook
1.2. Demand Side Trends
1.3. Key Facts and Figures
1.4. Trends Impacting Market
1.5. TMR’s Growth Opportunity Wheel
2. Market Overview
2.1. Market Segmentation
2.2. Key Developments
2.3. Market Definitions
2.4. Key Market Trends
2.5. Market Dynamics
2.5.1. Drivers
2.5.2. Restraints
2.5.3. Opportunities
2.6. U.S. Residential Generators Market Analysis and Forecast, 2020-2034
2.6.1. U.S. Residential Generators Market Volume (Units)
2.6.2. U.S. Residential Generators Market Revenue (US$ Bn)
2.7. Porter’s Five Forces Analysis
2.8. Regulatory Landscape
2.9. Value Chain Analysis
2.9.1. List of Manufacturers
2.9.2. List of Dealers/Distributors
2.9.3. List of Potential Customers
2.10. Product Specification Analysis
2.11. Production Overview
2.12. Cost Structure Analysis
3. Economic Recovery Analysis Post COVID-19 Impact
3.1. Impact on Supply Chain of Residential Generators
3.2. Recovery in Demand for Residential Generators -Post Crisis
4. Impact of Current Geopolitical Scenario on Market
5. Price Trend Analysis and Forecast (US$/Units), 2020-2034
5.1. Price Comparison Analysis by Type
5.2. Price Comparison Analysis by Region
6. U.S. Residential Generators Market Analysis and Forecast, by Type, 2020-2034
6.1. Introduction and Definitions
6.2. U.S. Residential Generators Market Volume (Units) and Value (US$ Bn) Forecast, by Type, 2020-2034
6.2.1. Stationary
6.2.2. Portable
6.3. U.S. Residential Generators Market Attractiveness, by Type
7. U.S. Residential Generators Market Analysis and Forecast, by Fuel, 2020-2034
7.1. Introduction and Definitions
7.2. U.S. Residential Generators Market Volume (Units) and Value (US$ Bn) Forecast, by Fuel, 2020-2034
7.2.1. Gasoline
7.2.2. Diesel
7.2.3. Gas
7.2.4. Others
7.3. U.S. Residential Generators Market Attractiveness, by Fuel
8. U.S. Residential Generators Market Analysis and Forecast, by Power Rating, 2020-2034
8.1. Introduction and Definitions
8.2. U.S. Residential Generators Market Volume (Units) and Value (US$ Bn) Forecast, by Power Rating, 2020-2034
8.2.1. Less than 20 kVA
8.2.2. 20 kVA - 50 kVA
8.2.3. 50 kVA - 100 kVA
8.2.4. More than 100 kVA
8.3. U.S. Residential Generators Market Attractiveness, by Power Rating
9. U.S. Residential Generators Market Analysis and Forecast, by Application, 2020-2034
9.1. Introduction and Definitions
9.2. U.S. Residential Generators Market Volume (Units) and Value (US$ Bn) Forecast, by Application, 2020-2034
9.2.1. Prime Mover
9.2.2. Standby
9.3. U.S. Residential Generators Market Attractiveness, by Application
10. Competition Landscape
10.1. Market Players - Competition Matrix (by Tier and Size of Companies)
10.2. Market Share Analysis, 2023
10.3. Market Footprint Analysis
10.3.1. By Type
10.3.2. By Application
10.4. Company Profiles
10.4.1. Generac Power Systems, Inc.
10.4.1.1. Company Revenue
10.4.1.2. Business Overview
10.4.1.3. Product Segments
10.4.1.4. Geographic Footprint
10.4.1.5. Production Capacity/Plant Details, etc. (*As Applicable)
10.4.1.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
10.4.2. Cummins Inc.
10.4.2.1. Company Revenue
10.4.2.2. Business Overview
10.4.2.3. Product Segments
10.4.2.4. Geographic Footprint
10.4.2.5. Production Capacity/Plant Details, etc. (*As Applicable)
10.4.2.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
10.4.3. Caterpillar
10.4.3.1. Company Revenue
10.4.3.2. Business Overview
10.4.3.3. Product Segments
10.4.3.4. Geographic Footprint
10.4.3.5. Production Capacity/Plant Details, etc. (*As Applicable)
10.4.3.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
10.4.4. HIMOINSA
10.4.4.1. Company Revenue
10.4.4.2. Business Overview
10.4.4.3. Product Segments
10.4.4.4. Geographic Footprint
10.4.4.5. Production Capacity/Plant Details, etc. (*As Applicable)
10.4.4.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
10.4.5. Kohler Co.
10.4.5.1. Company Revenue
10.4.5.2. Business Overview
10.4.5.3. Product Segments
10.4.5.4. Geographic Footprint
10.4.5.5. Production Capacity/Plant Details, etc. (*As Applicable)
10.4.5.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
10.4.6. Atlas Copco AB
10.4.6.1. Company Revenue
10.4.6.2. Business Overview
10.4.6.3. Product Segments
10.4.6.4. Geographic Footprint
10.4.6.5. Production Capacity/Plant Details, etc. (*As Applicable)
10.4.6.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
10.4.7. Siemens
10.4.7.1. Company Revenue
10.4.7.2. Business Overview
10.4.7.3. Product Segments
10.4.7.4. Geographic Footprint
10.4.7.5. Production Capacity/Plant Details, etc. (*As Applicable)
10.4.7.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
10.4.8. Honeywell International Inc.
10.4.8.1. Company Revenue
10.4.8.2. Business Overview
10.4.8.3. Product Segments
10.4.8.4. Geographic Footprint
10.4.8.5. Production Capacity/Plant Details, etc. (*As Applicable)
10.4.8.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
10.4.9. Yamaha Generators
10.4.9.1. Company Revenue
10.4.9.2. Business Overview
10.4.9.3. Product Segments
10.4.9.4. Geographic Footprint
10.4.9.5. Production Capacity/Plant Details, etc. (*As Applicable)
10.4.9.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
10.4.10. Honda Motor Co., Ltd.
10.4.10.1. Company Revenue
10.4.10.2. Business Overview
10.4.10.3. Product Segments
10.4.10.4. Geographic Footprint
10.4.10.5. Production Capacity/Plant Details, etc. (*As Applicable)
10.4.10.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
10.4.11. Briggs & Stratton
10.4.11.1. Company Revenue
10.4.11.2. Business Overview
10.4.11.3. Product Segments
10.4.11.4. Geographic Footprint
10.4.11.5. Production Capacity/Plant Details, etc. (*As Applicable)
10.4.11.6. Strategic Partnership, Capacity Expansion, New Product Innovation, etc.
11. Primary Research: Key Insights
12. Appendix
List of Tables
Table 01: U.S. Residential Generators Market Volume (Units) Forecast, by Type, 2020-2034
Table 02: U.S. Residential Generators Market Value (US$ Bn) Forecast, by Type, 2020-2034
Table 03: U.S. Residential Generators Market Volume (Units) Forecast, by Fuel, 2020-2034
Table 04: U.S. Residential Generators Market Value (US$ Bn) Forecast, by Fuel, 2020-2034
Table 05: U.S. Residential Generators Market Volume (Units) Forecast, by Power Rating, 2020-2034
Table 06: U.S. Residential Generators Market Value (US$ Bn) Forecast, by Power Rating, 2020-2034
Table 07: U.S. Residential Generators Market Volume (Units) Forecast, by Application, 2020-2034
Table 08: U.S. Residential Generators Market Value (US$ Bn) Forecast, by Application, 2020-2034
List of Figures
Figure 01: U.S. Residential Generators Market Volume Share Analysis, by Type, 2023, 2025, and 2034
Figure 02: U.S. Residential Generators Market Attractiveness, by Type
Figure 03: U.S. Residential Generators Market Volume Share Analysis, by Fuel, 2023, 2025, and 2034
Figure 04: U.S. Residential Generators Market Attractiveness, by Fuel
Figure 05: U.S. Residential Generators Market Volume Share Analysis, by Power Rating, 2023, 2025, and 2034
Figure 06: U.S. Residential Generators Market Attractiveness, by Power Rating
Figure 07: U.S. Residential Generators Market Volume Share Analysis, by Application, 2023, 2025, and 2034
Figure 08: U.S. Residential Generators Market Attractiveness, by Application
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