The North America Air-Cooled Generators Market would witness market growth of 5.2% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 398.98 thousand units, showcasing a growth of 4.8% (2019-2022).
Portable generators are compact and lightweight, making them easy to transport and deploy in various settings. They are particularly popular for outdoor activities such as camping, tailgating, and outdoor events, where access to electrical power may be limited. Additionally, portable generators are widely used in emergency situations, providing backup power during power outages caused by natural disasters or other unforeseen circumstances. Therefore, the US Market consumed 284.94 thousand units portable generators in 2022.
The US market dominated the North America Air-Cooled Generators Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $851.3 Million by 2030. The Canada market is experiencing a CAGR of 7.6% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.7% during (2023 - 2030).
Air-cooled generators have become increasingly prominent in power generation, providing versatile and dependable solutions for various applications spanning multiple industries, commercial establishments, and residential settings. These generators, known for their air-cooling systems, offer unique benefits such as portability and simplicity. The adoption of these has steadily increased across various sectors and industries due to several factors driving demand for reliable backup power solutions.
Air-cooled generators are typically compact and lightweight compared to liquid-cooled models, making them easier to install in various locations. Their smaller footprint and simpler installation requirements reduce the time and effort needed to set up the generator, making them ideal for temporary or mobile applications such as construction sites, outdoor events, and emergency response operations.
The influx of urban dwellers fuels demand for residential properties, including apartments, condominiums, townhouses, and single-family homes. As per the data from Statistics Canada, investment in building construction rose 1.7% to $19.8 billion in November 2023. The residential sector grew 2.2% to $13.7 billion, while non-residential sector investment increased 0.4% to $6.0 billion. Hence, rising residential construction and expansion of the region's manufacturing sector are driving the market's growth.
Free Valuable Insights: The Air-Cooled Generators Market is Predict to reach USD 5.6 Billion by 2030, at a CAGR of 5.5%
Based on Type, the market is segmented into Portable and Stationary. Based on System, the market is segmented into Enclosed System and Open Ventilated System. Based on End User, the market is segmented into Residential, Industrial, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Type (Volume, Thousand Units, USD Billion, 2019-2030)
By System (Volume, Thousand Units, USD Billion, 2019-2030)
By End User (Volume, Thousand Units, USD Billion, 2019-2030)
By Country (Volume, Thousand Units, USD Billion, 2019-2030)
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