Growing Popularity of Automatic, Intelligent & Smart Generators to Address Frequent Power Outages Drives the Residential Generators Market
The global market for Residential Generators is forecast to exceed US$11.5 billion by 2024 , driven by growing prominence of smart generators integrated with smart technologies and connectivity enabling accessible, efficient, and affordable backup power for the powerless. Given the changing lifestyles, continued penetration of household electronic appliances, and growing reliance on smartphones and mobile communication and information technology devices, there has been and will always be huge demand for uninterrupted electricity that can power these devices and enable them run even during prolonged power outages. As machines designed to provide temporary electrical power to households during utility power supply outages, residential generators have become highly popular over the years and currently represent a multi-billion dollar market. The need for uninterrupted power supply is essentially crucial for certain critical applications such as home-based medical equipment, home heater...