What are the Key Growth Drivers of Portable Generators Market – Exclusive Report by Fact.MR

Posted By : reshmafactmr on 2022-06-13   12:21:42    United States
  Portable Generators Market Global Portable Generators Market Portable Generators Market Revenue sales of portable generators Demand for Portable Generators Sales of Renewable Portable Generators Demand for 1 KW Portable Generators Sales of 3-5KW Portable Generators Sales of Commercial Portable Generators Residential Portable Generators Sales Demand for Industrial Portable Generators Agricultural Portable Generators Sales Manufacturers of Portable Generators Portable Generators Market Trends Portable Generators Market Size

Description

Portable generators are used to generate electricity in a variety of applications, including residential, commercial, and industrial. The study looks at uses such as generating electricity for live commercial events, powering machines on building sites, and providing backup power during a power outage, among others.

Impact of COVID-19 on Portable Generator Market

Because countries were required to impose lockdowns during the first half of 2020 as a result of COVID-19, the portable generator market has stalled. Governments and municipal governments established strict restrictions, and all non-essential activity were halted. Because end users' operations were halted, this had a negative impact on the portable generator business.

Furthermore, during the second quarter, manufacturing and supply chain delays were seen, posing a challenge to the portable generator market, as end-user industries were still not functioning at full capacity.

Driver: Power outages are becoming more common as a result of ageing grid infrastructure and extreme weather events.

Because energy transmission and distribution infrastructure is the backbone of any country's power industry, ageing grid infrastructure is more sensitive to power outages. Transmission systems that have not been properly modernised will not be able to handle the additional load and, in some situations, will fail, resulting in a power outage. Transmission and distribution networks in wealthy countries were built a long time ago, and even with regular maintenance, the infrastructure is expected to deteriorate beyond a certain age. Coal, gas, and nuclear power facilities can last for about 40 years, according to the National Association of Regulatory Utility Commissioners in the United States. These power generation sources are nearing the end of their useful lives due to a variety of factors.

Furthermore, harsh weather conditions are expected to increase demand for portable generators. The electrical system in the United States is prone to unpredictably frequent power outages. As a result, rising expenditures in backup power solutions, as well as expanding consumer awareness of disaster preparedness, will support market expansion. According to the Department of Energy (DOE) and the North American Electric Reliability Corporation (NERC), uninterrupted power can only be maintained by a system that can handle sudden power spikes and drops. The United States experiences more blackouts than any other developed country, with power outages lasting more than an hour on average, and the number has gradually climbed in recent years. The cost of these blackouts to American firms is estimated to be around USD 150 billion per year.

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About Author

reshmafactmr Rockville United States
Fact.MR is an independent, pure play market intelligence company with the mission of delivering high-quality, tailored market analysis solutions that enable our customers to enter the market effectively, armed with actionable insights that can influence key business decisions. Our laser-like emphasis on delivering fact-based solutions is based on insights gathered from more than 100 million data points, carefully compiled over the last decade and consolidated across a wide range of sectors of the industry.

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