Research Nester has released a report titled “United States (U.S.) Generator Market: Demand Analysis & Opportunity Outlook 2025” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
In the year 2020, the GDP (in current Dollars) in California, New York, and Texas, touched USD 3091871.5 Million, USD 1699044.7 Million, and USD 1759734.4 Million respectively, according to the statistics by the Bureau of Economic Analysis of the Government of the United States. This was an increase from USD 1973511.9 Million, USD 1212485.1 Million, and USD 1237304.0 Million respectively in the year 2010.
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The statistics portray the growing economical activities in several states of the country, which is contributing to the growing GDP in these states. The surge in economical activities is expected to also raise the consumption of electricity, as well as the demand for reliable power sources. Additionally, the surge in power outages in the country is expected to drive the need to adopt standby power sources, and in turn, drive the growth of the United States (U.S.) generator 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 estimated to garner a revenue of USD 7216.5 Million by the end of 2025, up from USD 6021.6 Million in the year 2020. 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. By the end of 2025, the residential segment is anticipated to garner the largest revenue of USD 1270.1 Million, and also hold the highest market share during the forecast period.
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The United States (U.S.) generator market is segmented by states into Alaska, Hawaii, Washington, Oregon, California, and the Rest of U.S. In the year 2020, the market in California generated the second-largest revenue of USD 1561.3 Million, and this is further anticipated to touch USD 1804.1 Million by the end of 2025, backed by the surge in the electricity consumption in Los Angeles, Santa Clara, Alameda, and other counties in the state.
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 comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “United States (U.S.) Generator Market: Demand Analysis & Opportunity Outlook 2025”, analyses the overall United States (U.S.) generator industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the United States (U.S.) generator market in the near future.
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