Global Residential Generators Market to Reach US$13.3 Billion by 2030

The global market for Residential Generators estimated at US$10.0 Billion in the year 2023, is expected to reach US$13.3 Billion by 2030, growing at a CAGR of 4.1% over the analysis period 2023-2030. Portable, one of the segments analyzed in the report, is expected to record a 4.4% CAGR and reach US$8.2 Billion by the end of the analysis period. Growth in the Stationary segment is estimated at 3.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.7 Billion While China is Forecast to Grow at 7.0% CAGR

The Residential Generators market in the U.S. is estimated at US$2.7 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.8 Billion by the year 2030 trailing a CAGR of 7.0% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.2% and 3.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.7% CAGR.

Global Residential Generator Market - Key Trends and Drivers Summarized

Home generators are essential for maintaining electrical power during outages, ensuring crucial systems such as lighting and heating continue functioning. They convert mechanical energy, often fueled by gasoline, diesel, natural gas, or propane, into electrical energy. The rising demand for uninterrupted energy supply during emergencies and increased home automation has led to significant market growth. Households now prioritize energy resilience, making residential generators vital, particularly in regions experiencing frequent adverse weather. Additionally, new construction often includes backup generators to enhance property value, with portable generators favored for affordability and standby generators for convenience.

Technological advancements are enhancing the efficiency, sustainability, and functionality of generators. Eco-friendly models are increasingly popular, with a shift from diesel to natural gas and solar integration. Inverter generators offer cleaner energy for sensitive electronics, and hybrid power plants combining solar, wind, and gas with energy storage provide adaptable, reliable power. Innovations in gas turbines, wave energy converters, and geothermal generators are also emerging, aiming to provide cleaner energy and reduce emissions.

The integration of the Internet of Things (IoT) allows for smarter, more connected home energy systems that homeowners can monitor and control remotely. Artificial Intelligence (AI) is used to optimize energy use, predict maintenance needs, and ensure energy systems operate at peak efficiency. Smart technology is revolutionizing portable generators with features such as remote monitoring, real-time performance tracking, and integration with smart home systems.  These trends demonstrate how advanced technologies are reshaping the market, offering more reliable, efficient, and user-friendly backup power solutions.