According to Cognitive Market Research, the global residential generators market size will be USD 10542.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 4216.9 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3162.7 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2424.7 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 527.1 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 210.8 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
The 50 kVA - 100 kVA power rating category is the fastest-growing segment of the residential generators industry.
