The Latin America, Middle East and Africa Portable Generator Market would witness market growth of 7.7% CAGR during the forecast period (2023-2030).
The market is expanding as an outcome of rising urbanization rates and an increase in power grid breakdowns. The capacity of a nation to operate financially relies on its access to electricity. Yet, many developing nations lack appropriate grid infrastructure, resulting in insufficient power supplies that make operating commercial and residential buildings difficult. During an outage, portable generators can help provide a steady electricity supply for residential use and a reliable power source. Growing concerns about power instability in the residential sector as a result of natural disasters and disrupted operations are another factor driving the market.
Improved portable generators have arrived because of the emergence of new technology & commercial improvements. Portable generators with inverters are in high demand. Inverter generators use sophisticated electronic circuits & designs, including additional elements like magnets and resistors. Compared to conventional generators, inverter generators offer pure alternating current (AC) power and are typically used to run current-sensitive appliances. In demand for small-scale domestic generators, inverter generators are becoming more popular. Additionally, the overall market is expected to rise for computer-controlled portable generators due to increased oil & gas exploration and development operations &outdated electric infrastructure, driven by the Internet of Things (IoT) and technological innovation.
Sub-Saharan Africa (SSA) has 596 million individuals who do not have access to electricity. Even in cities where most reside, only one-third of people have access to energy. Additionally, this shortage of power is inhibiting advancements in health, education, and the economy. However, there are several obstacles to connecting African cities, towns, and villages, and poor infrastructure makes it impossible for many nations to extend grid networks both financially and logistically. Mini-grid systems and stand-alone have been the primary objective of electrification efforts in various SSA nations due to the great distance between electrical grids and low-demand areas in remote and rural areas and urban slums. Despite the rise in off-grid electrical solutions, more people now live without access to electricity than ten years ago. As a result, the region's requirement for reliable off-grid electricity options will increase demand in the upcoming years.
The Brazil market dominated the LAMEA Portable Generator Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $55.8 million by 2030. The Argentina market is anticipated to grow at a CAGR of 8.3% during (2023 - 2030). Additionally, The UAE market would showcase a CAGR of 7.4% during (2023 - 2030).
Free Valuable Insights: The Worldwide Portable Generator Market is Projected to reach USD 3.4 Billion by 2030, at a CAGR of 6.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, Generac Holdings, Inc., Atlas Copco AB, Honeywell International, Inc., Caterpillar, Inc., Wacker Neuson SE, Honda Motor Co. Ltd., Yamaha Motor Co., Ltd., Kohler Co., and Briggs & Stratton, LLC (KPS Capital Partners)
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