Global Residential Generators Market Size By Type (Portable Diesel Type, Portable Gasoline Type), By Application (Less than 4 KW, 4- 8 KW), By Region, And Segment Forecasts, 2023 to 2032

The Global Residential Generators Market was valued at USD 4.8 billion in 2023 and is expected to reach approximately USD 7.6 billion by 2031, growing at a CAGR of 5.9% over the forecast period of 2023 to 2031. This market growth is primarily driven by rising concerns over power reliability, an increase in weather-related power outages, and advancements in generator technology for residential settings. Residential generators are essential for households needing continuous power during outages, ensuring seamless power supply for essential home appliances and electronic devices.

Drivers

Increase in Power Outages: Extreme weather events and aging infrastructure have led to frequent power outages, particularly in regions prone to storms and hurricanes, driving demand for backup power solutions.

Advancements in Generator Technology: Innovations such as quieter, more fuel-efficient, and eco-friendly models make residential generators more attractive and feasible for home use.

Growing Awareness of Energy Resilience: With an increasing focus on energy reliability, homeowners are investing in generators to ensure uninterrupted power for essential appliances during blackouts.

Restraints

High Initial Investment and Maintenance Costs: The upfront costs of purchasing and installing a residential generator, along with ongoing maintenance, can be a significant barrier for some households.

Environmental Concerns: Traditional fuel-based generators contribute to carbon emissions, which could pose a challenge as regulations tighten and consumers seek greener solutions.

Opportunity

Integration of Renewable and Hybrid Generators: The adoption of hybrid systems that integrate solar or battery backups with traditional generators offers an opportunity to reduce environmental impact and meet sustainability goals.

Expansion in Emerging Markets: Rapid urbanization and growing energy needs in emerging economies present a lucrative opportunity for the residential generator market, particularly as these regions face infrastructure challenges.

Market by System Type Insights

In terms of system type, Standby Generators held the largest market share in 2023, owing to their automatic operation and suitability for households requiring continuous power during extended outages. Portable generators are also witnessing growth due to their affordability and flexibility, especially in areas experiencing occasional power disruptions.

Market by End-Use Insights

The Single-Family Homes segment emerged as the primary revenue contributor, representing more than 60% of the market in 2023. With increased remote work and higher energy demand in residential settings, the need for reliable power in single-family homes continues to drive demand. Multi-family housing units are also increasingly adopting portable and standby generators as backup solutions.

Market by Regional Insights

North America leads the market, driven by the frequency of natural disasters and power outages, coupled with high household awareness of backup power solutions. Asia-Pacific is projected to witness the highest growth rate due to rapid urbanization and a growing demand for energy security across residential sectors in emerging economies like India and China.

Competitive Scenario

Key players in the Global Residential Generators Market include Generac Holdings Inc., Kohler Co., Briggs & Stratton Corporation, Cummins Inc., Honda Motor Co., Ltd., Caterpillar Inc., and Atlas Copco. These companies are focusing on product innovation, partnerships, and expanding their market reach to cater to the growing demand. Notable developments include:

Generac’s launch of hybrid solar and battery-powered generators in 2023 targeting eco-conscious consumers.

Honda’s collaboration with residential developers in 2024 to integrate backup power systems in new housing projects.

Scope of Work – Global Residential Generators Market

Key Market Developments

2023: Generac Holdings Inc. launched a hybrid generator combining solar power with battery storage, emphasizing sustainable backup solutions for residential consumers.

2024: Kohler Co. introduced a new line of ultra-quiet residential generators designed to minimize noise pollution, meeting stringent regulations in urban areas.

2025: Briggs & Stratton Corporation expanded its manufacturing capabilities to meet growing demand in North America and Europe, particularly in standby generator systems.

FAQs

What is the current market size of the Global Residential Generators Market?

As of 2023, the Global Residential Generators Market is valued at USD 4.8 billion.

What is the major growth driver of the Global Residential Generators Market?

The primary growth driver is the increasing frequency of power outages due to extreme weather events and aging infrastructure.

Which is the largest region during the forecast period in the Global Residential Generators Market?

North America is anticipated to hold the largest market share throughout the forecast period, driven by high awareness and frequent power outages.

Which segment accounted for the largest market share in the Global Residential Generators Market?

The Standby Generators segment accounted for the largest market share due to its automatic functionality and suitability for prolonged outages.

Who are the key market players in the Global Residential Generators Market?

Major players include Generac Holdings Inc., Kohler Co., Briggs & Stratton Corporation, Cummins Inc., Honda Motor Co., Ltd., and Caterpillar Inc.