Portable Generators Market Size 2019: Industry Analysis by Potential Application, Growth Strategy and Development Approach of Top Manufacturers till 2025
Burgeoning electricity demand in consort with uncontrolled population expansion, most notably in emerging nations will bolster portable generators market growth. Several South African countries experience power outages, lasting for hours, on a daily basis, owing to the federal government’s failure to generate enough electricity to meet the region’s power needs.
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APAC portable generators market size will expand considerably in the coming years. Large-scale power consumption and rapid economic growth in nations like China and India is further expanding Asia Pacific portable generators market. According to the U.S. Energy Information Administration, the industrial sector in China consumed 71 quadrillion Btu (British Thermal Units) in 2015, while by the year 2040, this value is projected to reach over 80 quadrillion Btu. This will impel APAC portable genset market further.
Construction activities such as drilling, lifting, and cutting rely heavily on seamless power supply. Rapid industrialization and expansion of the construction industry will drive North America portable generator industry size. The introduction of rebates, incentives, and tax credits, from the federal governments of the U.S. and Canada has encouraged architects and infrastructure development firms to indulge in energy efficient construction practices.
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Leading events such as The Carnival of Venice, La Tomatina Festival, St. Patrick’s Day, Carnava, Maslenitsa, Oktoberfest, Cannes Film Festival, The Carnival of Ivrea, and Klapa Music Festival, organized in Europe, the cultural powerhouse of the Western world, will drive the regional portable gensets market share. Event organizers establish temporary power centers to ensure an optimum supply of power throughout the event, thereby offering countless growth prospects to portable generator manufacturers.
Africa, Asia-Pacific, North America, and Europe would remain consistent regional contributors to portable generators industry in the coming years. Africa, which faces maximum blackouts globally, holds a significant fragment of the worldwide portable genset market share.
Partial Table of Contents (ToC) of the report:
Chapter 4 Global Portable Generators Market, By Power Rating
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