Residential Generators Market Expected to Reach $15.1 Billion by 2030

The Residential Generators Market

There’s a report from a company called Allied Market Research about something called the Residential Generators Market. It talks about two types of generators, one that stays in one place and one that can be moved around. These generators can use different kinds of fuel like gasoline or diesel, and they come in different sizes, from small to really big.

The global residential generators market size was valued at $9.5 billion in 2020 and is projected to reach $15.1 billion by 2030, growing at a CAGR of 4.7% from 2021 to 2030.

Residential generators are machines that make electricity. People use them for different things like having power when they go camping, lighting up a party, or having electricity in emergencies. Some of these generators are small and can be taken anywhere, while others are big and stay in one place. They can run on different fuels like diesel, gasoline, and natural gas.

Laws about the environment in North and Latin America are making more people want generators that use natural gas. But because more people are living in the world, there’s also a bigger need for backup power. This means more people will want generators, too.

This market for generators is divided into different parts based on the fuel they use, the type of generator, how much power they can make, and where they’re sold. Diesel generators were the most popular in 2020, but gasoline generators are expected to become more popular in the future

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Amar Shinde is a writer and researcher specializing in the intersection of culture, technology, and society. In their free time, they enjoy playing chess.