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The residential gas generator market size is forecast to increase by USD 599.9 billion at a CAGR of 7.08% between 2023 and 2028. The market is experiencing significant growth due to the increasing demand for constant power sources among residential consumers in the face of unstable power supplies from the power grid. Gas generators, specifically those fueled by natural gas, offer an environmentally friendlier alternative to traditional backup power sources like oil and diesel-powered electrical gensets. These generators emit fewer greenhouse gases, such as CO2, nitrogen, and sulphur, compared to their fossil fuel counterparts. Moreover, the telecom and hospital sectors are major contributors to the market's growth, as they require uninterrupted power supply for their critical operations. Gas generators offer a reliable backup power solution for these industries, ensuring business continuity during power outages. The availability of various sizes and types of gas generators catering to different power requirements further boosts market growth. Overall, the market is expected to witness steady expansion in the coming years as more residential consumers seek out eco-friendly and dependable backup power solutions.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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