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With rapid urbanization and industrialization, the shortage of power and energy has become predominant, which has further led to the increased demand for power generators to provide uninterrupted power supply during the times of power outage. Consequently, residential users are rapidly adopting the use of stationary generators to confirm continuous supply of electricity.
Technavio’s market analysts expect the global residential stationary generator market to grow tremendously, posting a CAGR of close to 7% during the forecast period. Among residential users, countries such as US, China, India, and Brazil show immense growth potential for the adoption of these generators. Vendors are advancing into developing countries where the demand for these generators is witnessing a healthy growth.
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