The USA Generator Sales Market is expected to reach size of more than USD 6.7 Billion by 2028, driven by technological advancements.
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The remarkable development in the technological advancements in generator technologies has led to growth in the market. The rapid-paced industrialization and urbanization activities have served the demand for constant electric supply, leading to power backups as a vital development element. The increasing utilization of generators coupled with the growing technologies has led to an increase in the demand for generators. Hybrid generators combine traditional generator sets with another controllable electric source like fuel cell to generate a fuel-efficient, noise reduced, and environment friendly of generators. An inverter generator uses advanced electronic circuits and high-tech magnets to invert the current type form input to output. Several manufacturers are adopting bi-fuel generators to address the carbon emissions and high operational costs. This factor is expected to create an opportunity for the players in the united market for generator sales. Furthermore, the United States Department of Energy, in April 2021, announced its support for President Biden's goal of net-zero carbon emissions by 2050. The increased consumer conscience and obligation towards sustainable development give rise to the growth in hybrid and bi-fuel generators. This growth is expected to create significant opportunities for this market in the United States. In addition, The US energy information administration, US energy production and consumption grew by nearly 6 % in 2019. This has led the United States to quickly invest in the exploration and production of natural gas and crude oil from onshore and offshore location. The utilization of generators as a power source in oilfield and mining activities for all operation makes it a vital component in the sector. The growing energy production in the country is indirectly affecting the growth of the market in the country.
According to the research report "USA Generator Sales Market Overview, 2028," published by Bonafide Research, the USA Generator Sales Market is expected to reach size of more than USD 6.7 Billion by 2028. The exponential increase in the power demand and the building of new power generation, transmission and distribution station to serve the growing needs are projected to drive the market pace. Additionally, mounting expenditure in construction, manufacturing sector, mining, commercial and many other end-user sectors has led various public and private authorities to increase their efforts to meet consumer demand during peak hours. Furthermore, faults in transmission and distribution lines, weather problems, and other factors affect the power supply across the US. Regulatory bodies and adopting measures to reduce the power cut duration to enable continual operation. Unexpected power outages have significantly increased consumers demand for reliable backup power sources in residential and commercial sector propelling the market growth in the US. The United States has experienced several extreme weather events in recent years, such as hurricanes, winter storms, and wildfires. These events have led to power outages, which have increased the demand for generators.
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