Residential Generators are power systems designed to provide emergency electricity in the event of a power outage. They are typically used in homes, but can also be used in small businesses and industrial settings. They are powered by either natural gas, diesel, or propane, and provide a steady source of electricity for a variety of applications.
The main usage of residential generators is to provide backup power in case of a power outage. Generators can be used to power appliances, lights, HVAC systems, and other electrical systems in a home. They can also be used to provide a steady source of power for medical equipment, security systems, and other critical equipment.
On a global scale, residential generators are becoming increasingly popular as a reliable source of backup power. In areas where power outages are frequent, a generator can provide peace of mind for homeowners and businesses. Generators are also becoming more popular in countries that are experiencing rapid population growth, where power outages are becoming increasingly common. The global market for residential generators is expected to grow at a compound annual growth rate of over 5% from 2020 to 2027.
The global Residential Generators market was valued at US$ 2755.6 million in 2022 and is anticipated to reach US$ 4391 million by 2029, witnessing a CAGR of 6.8% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
A detailed market research report on Global Residential Generators Market available at: https://www.themarketreports.com/report/global-residential-generators-market-research-report
This report aims to provide a comprehensive presentation of the global market for Residential Generators, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Residential Generators.
The major global companies of Residential Generators include Generac, Honda Power, Briggs & Stratton, KOHLER, Champion, Yamaha, TTI, United Power Technology, Cummins Power Systems, Eaton, Wacker Neuson, Honeywell, Hyundai Power, Sawafuji, Scott’s etc. In 2021, the world’s top three vendors accounted for approximately % of the revenue.
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