Yahoo Finance North America Gasoline Gensets Market worth $1.8 billion by 2027, Says Global Market Insights Inc.
North America Gasoline Gensets Industry is set to register around 5% CAGR between 2021 and 2027 owing to surging investments in constructional activities along with rising consumer awareness of contingency preparedness.
North America Gasoline Gensets Industry Forecasts 2021-2027
North America Gasoline Gensets Industry Forecasts 2021-2027
SELBYVILLE, Del., Sept. 21, 2021 (GLOBE NEWSWIRE) -- North America gasoline gensets market value is set to cross USD 1.8 billion by 2027 as reported in the latest study by Global Market Insights Inc. The increasing severity of weather-related disasters followed by prolonged electric outages along with growing consumer reliance on power backup solutions will augment the market statistics. Chronic power outages and aging electric grid coupled with rising end-user preferences for emergency readiness will offer substantial impetus to the market expansion.
The 2 kVA - 3.5 kVA rated gensets segment is poised to surpass an annual installation of 600 thousand units by 2027. Shifting consumer trends toward compact units with smaller power ratings to adequately cater to their power requirements will ensure increased product deployment. Some of the key parameters accelerating product adoption are lightweight, compact design, and operational suitability. The increasing dependency of small businesses on gensets to provide continuous and uninterrupted power supply will positively impact the industry statistics.
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Some key findings of the North America gasoline gensets market report include:
Surging electricity demand due to the thriving student & immigrant population growth across the region will fuel product demand.
The escalating project funding by both international and national organizations comprising the World Bank and IMF along with increasing refurbishment activities to encourage sustainable development will enhance the industry outlook.
The infiltration of cleaner fuel units coupled with a paradigm shift toward renewable alternates may hamper the industry growth.
Prime manufacturers operating across the North America gasoline gensets industry comprises Honda, Cummins, Kohler, Briggs & Stratton, and Atlas Copco.
Ample availability of fuel driven by large-scale adoption of O&G exploration and C&D projects will complement the business scenario.
Browse key industry insights spread across 165 pages with 109 market data tables & 27 figures & charts from the report, "North America Gasoline Gensets Market Statistics By Power Rating (<2 kVA, 2 kVA - 3.5 kVA, 3.5 kVA - 5 kVA, 5 kVA - 6.5 kVA, 6.5 kVA - 8 kVA, 8 kVA - 15 kVA, 15 kVA - 20 kVA), Engine Class (Handheld Engines, Class I Engines, Class II Engines), End-Use (Residential, Commercial, Construction), Industry Analysis Report, Regional Outlook, Application Potential, COVID-19 Impact Analysis, Price Trend, Competitive Market Share & Forecast, 2021 - 2027" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/north-america-gasoline-genset-market
The surging power demand driven by the booming medical tourism industry along with the availability of advanced healthcare equipment and numerous COVID-19 vaccines will positively influence unit utilization across commercial establishments. The growing electricity demand from residential establishments due to the implementation of nationwide curfews to curb the virus spread will propel the North America gasoline gensets market forecasts.
Canada gasoline gensets market is anticipated to exceed USD 150 million by 2027. The incapability of utility grids to counterbalance the burgeoning electricity demand, and its inability to provide consistent power supply to offshore areas, will constantly demand the extensive utilization of these gensets. Rising intensity of winter storms, which lead to massive blackouts and damaged distribution & transmission networks will increase the deployment of gensets.
Browse the ToC of this report @ https://www.gminsights.com/toc/detail/north-america-gasoline-genset-market
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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