Residential Generators Market Showing Impressive Growth during Forecast Period 2020 – 2030

 Residential generators are electrical equipment that generates power for a variety of applications, including outdoor activities, lighting during social events, power backup in emergency scenarios, and power generation in remote construction sites, and temporary camps. Small and mid-sized generators are included in the portable generators’ scope, and they can be used both indoors and outdoors. These generators run on a variety of fuels, including diesel, gasoline, natural gas, and others. Multiple product developments have resulted from changes in lifestyle and an increased need for user-friendly items. The global residential generators market size was valued at $9.5 billion in 2020 and is projected to reach $15.1 billion by 2030, growing at a CAGR of 4.7% from 2021 to 2030.

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Environmental regulations imposed by the EPA in North America and Latin America are likely to boost the demand for household gas generators. However, the rise in worldwide population is expected to surge the demand for power backup, which is expected to fuel the demand throughout the projection period.

The residential generator market is segmented into fuel type, type, power rating, and region. By fuel type, the residential generators market is divided into gasoline, diesel, and others. The diesel segment accounted for the largest share in 2020, while the gasoline segment is projected to grow at the highest CAGR of 4.9%.

By type, the market is classified into stationary and portable. In 2020, the portable fuel type held the largest share of the market, while the stationary segment is projected to grow at the highest CAGR of 4.6%.

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By power rating, the 4- 8 KW segment accounted for the largest share in 2020, while the 8-17 KW segment is projected to grow at the highest CAGR of 4.9%.

By region, the Asia-Pacific region is expected to witness robust growth. Advancements in industrial development along with construction sites are expected to boost the demand for portable generators.

The major companies profiled in this report include Atlas Copco AB, Briggs & Stratton Corporation, Caterpillar Inc., Champion Power Equipment, Inc., Cummins Inc., Eaton Corporation PLC, Generac Holdings Inc., Honda Motor Co Ltd, Kohler Co., and Scott’s Emergency Lighting. The players in the market have adopted several strategies, such as product launches and business expansion, to sustain the market competition.

Key Findings Of The Study:

• By region, Asia-Pacific is projected to grow at the highest CAGR of nearly 4.9%, in terms of revenue, during the forecast period.
• By type, the portable segment accounted for the largest market share in 2020.
• By fuel type, the diesel segment garnered the largest market share in 2020.
• By power rating, the 4- 8 KW segment garnered the largest market share in 2020.

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Impact Of Covid-19 On The Residential Generators Market

• Coronavirus has eased the development of the residential generator market, as nations had to carry out lockdowns during the first half of 2020. Severe rules were given by governments and neighborhood specialists, and all minor tasks were ended. This antagonistically influenced the residential generator market inferable from the suspension of activities of end users.
• In addition, production and supply chain delays were also witnessed during the second quarter which posed a challenge to the portable generator market, since end-user industries were still not operating at their full capacity.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Clean Hydrogen Market Reflects Impressive Growth Rate During 2032

 Clean hydrogen is the form of hydrogen that is produced through processes that result in lower carbon emissions (through carbon capture, storage, and utilization (CCUS)) or zero carbon emissions. Climate change and net-zero commitments are major reasons for the shift from fossil fuels to alternatives such as synthetic fuels, renewables, nuclear fusion energy, clean hydrogen, and others. Several advanced hydrogen technologies are being developed and countries are positioning themselves to become hydrogen superpowers. The clean hydrogen market was valued at $3.8 billion in 2022 and is estimated to reach $18.3 billion by 2032, growing at a CAGR of 14.8% from 2023 to 2032.

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Hydrogen is not a direct substitute for coal, oil, and natural gas, but it can help to decarbonize parts of the economy. Clean hydrogen is expected to be the major contributor to the clean energy economy. The net-zero targets to bring down the temperature increase from 2 degrees Celsius to 1.5 degrees Celsius are fueling the growth in alternative fuels. The commitment to bring down carbon footprint through energy transition by reducing primary energy dependence on fossil fuels and non-renewable sources has been a major driver for clean hydrogen market growth. In addition, lower to zero carbon-emitting fuels are being sought for reducing carbon footprint which also adds to market growth.

However, the higher cost and volatile nature of the product restrain the market growth for clean hydrogen. Moreover, lacking policy frameworks and a complex value chain of the product discourages the clean hydrogen industry growth. Meanwhile, government policy and company strategies will offer lucrative opportunities for market growth. Clean hydrogen production can be done through electrolyzers and carbon capture technologies. flexibility in producing clean hydrogen offers lucrative opportunities for the clean hydrogen industry growth.

The clean hydrogen market size is studied based on type, method, application, and region. By type, the clean hydrogen market is bifurcated into blue hydrogen and green hydrogen. Blue hydrogen dominated the clean hydrogen market share in 2022. Blue hydrogen is a relatively new concept and can refer to hydrogen made either through steam methane reforming or natural gas.

Blue hydrogen production is far less costly than green hydrogen as the source of electricity for green hydrogen cannot be purely renewable in many instances. However, green hydrogen is expected to grow at a significant rate during the projection years. The development of new green hydrogen plants and commitment to the decarbonizing economy, and the development of new efficient technologies encourage the market growth for clean hydrogen

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Depending on the method, the market is further classified into electrolysis and carbon capture. The electrolysis segment is further divided into alkaline electrolyzers, polymer electrolyte membrane electrolyzers (PEM), and solid oxide electrolyzers (SOE). The carbon capture segment dominated the market share and is expected to grow at a higher CAGR during the clean hydrogen market forecast period. This is owed to the fact that CCUS technology is cheaper than electrolyzers as the installation and maintenance costs for electrolyzers are quite high. 

By application, the market is divided into industrial, transportation, power, and others. The industrial segment garnered the highest market share for 2021 followed by the transportation segment and is expected to grow at a higher CAGR during the projection period. Hydrogen is used in several industrial processes for metallurgy, chemical feedstock, glass, food & beverages sectors and thus acts as a driving factor for the industrial segment.

However, the transportation segment is expected to follow the industrial segment during the projection period as reducing carbon footprint through synthetic fuels and electric vehicles encourages hydrogen demand which further adds to the increased demand for clean hydrogen.

By region, the clean hydrogen market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa). North America dominated the clean hydrogen market share for 2021, and the same is expected to grow at a higher CAGR during the forecast period. This is owed to several clean hydrogen projects being planned and enforced in countries like the U.S. and Canada. 

Asia-Pacific is a large consumer of electric vehicles, which drives the demand for hydrogen fuel cells. China dominated the world hydrogen market being the largest producer as well as consumer of the product. China consumes around 24 million tons of hydrogen annually. In 2017, Japan became the first country to formulate a national hydrogen strategy as part of its ambition to become the world’s first “hydrogen society” by adopting the fuel across all sectors

The major players operating in the clean hydrogen industry are Saudi ARAMCO, Iberdrola, S.A., China Petroleum & Chemical Corporation (Sinopec), Linde plc, Exxon Mobil Corporation, FuelCell Energy, Inc., Air Products and Chemicals, Inc., Plug Power Inc., Orsted A/S, and Enel Green Power Spa. The other market players are NEL ASA, Air Liquide SA, Siemens Energy, Oil & Natural Gas Corporation, and Adani Green Energy.

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Key findings of the study

• By type, green hydrogen is projected to grow at the highest CAGR of approximately 15.2%, in terms of during the clean hydrogen market forecast period
• By the method, the carbon capture segment dominated the clean hydrogen market share by over 70% in 2021
• By application, the industrial segment is projected to grow at the highest CAGR of approximately 15.0%, in terms of during the clean hydrogen market forecast period.
• By region, North America dominated the clean hydrogen market and is expected to grow at a CAGR of 15.1% during the forecast period

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

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Photocell Market Strategic Plan for Positive Growth 2031

 Photocells are semiconductor devices used to transform light into electric current. P-type and n-type semiconductor materials can be deposited onto a silicon base or other substrate to formulate photocell (e.g., gallium arsenide, indium antimonide). Photocell or photoresistor is a sensor that changes its resistance when light shines on it. This technique generates current in a direct relationship with incident light intensity. It is widely used in gadgets, toys, and other electronic components. The photocell market size was valued at $2.3 billion in 2021, and is estimated to reach $3.6 billion by 2031, growing at a CAGR of 4.9% from 2022 to 2031.

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Photocells are used in automatic lights, automatic doors, aviation, meteorology, burglar alarm, smoke alarms, safety switch, light meters, and others, has fueled the demand for photocell market during the forecast period.

The automatic lights segment is expected to grow progressively with increase in highways & smarts cities and home automation demand from residential & commercial consumers across the globe. In addition, increase in demand for photocell from developing economies such as India, China, and Japan, has boosted the growth of market. In addition, presence of manufacturing facilities in the region fuels the growth of the market, globally.

However, poor economic performance, price-sensitive nature of consumers, and conventional practices in the material & equipment handling industry is anticipated to restrain the market. Inaccuracy of devices, affected by dust, smoke, & fog, entry of significant number of market participants, and rise in penetration of less power efficient sensors limit the growth of the global market.

On the contrary, the increased focus on integrating sensor solutions for applications and surge in R&D investments on advanced photocell technology across various industries are expected to offer major opportunities for the photocell market growth during the forecast period.

Depending on the type, the photoconductive cell segment registered the highest market share of about 43.3% in 2021, and is expected to maintain its dominance during the forecast period. This is attributed to a rise in demand for photoconductive cells from applications including automatic lights, automatic doors, burglar alarms, smoke alarms, and light meters. In addition, the rise in adoption of photo conductive cells used as they are small in size, however inexpensive and durable and as they are safe for the environment, which is further anticipated to boost the demand for photo conductive cells in the coming years.

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By material used, the crystalline silicon segment holds the largest share in terms of revenue and is expected to grow at a CAGR of 7.1% during the forecast period. This is attributed to the rise in demand for photocells from various types of applications, including automatic lights & automatic doors used in residential, commercial, and industrial settings. In addition, benefits associated with photocells such as high efficiency, high reliability, easy installation, easy availability, very low cost, and advanced creative systems are anticipated to fuel the growth of the photocell market from 2022 to 2031.

On the basis of application, the automatic light and aviation segment holds the largest share, in terms of revenue, and is expected to grow at a CAGR of 7.2% during the forecast period. Rise in demand for highly efficient resistor is expected to drive the growth of this segment in the photocell market during the forecast period. In addition, advantages such as longer lifespan, utility cost saving, sustainability, lower operational cost, are anticipated to fuel the growth of the photocell market for automatic light and aviation segment and hence is expected to contribute toward the overall photocell market growth in the coming years.

Region-wise, the photocell market forecast is analyzed across four major regions, namely, North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garnered a dominant share in 2021, and is anticipated to maintain this dominance in the photocell market during the forecast period. This is attributed to presence of key players and huge consumer base in the region. In addition, rapid growth of the smart cities, rise in demand for power in remote operations, rise in awareness, and R&D toward detection and measurement light are the key factors expected to drive the growth of the photocell market in Asia-Pacific in the coming years.

The key players operating and profiled in the photocell market analysis include ABB, Ltd., Autonics Corporation, Banner Engineering Corp., Goodman Electric, Green Energy Technologies, Pepperl+Fuchs SE, REC Solar Holdings AS, Shenzhen Enbon Optoelectronic Co., Ltd., SICK AG, SELCO Solar Light Private Limited, Solarworld, TDC Power Products Co., Ltd., Unitech Combustion, Walnut Innovations, and Westire Technology Ltd.

Impact of COVID-19 outbreak on the market

The outbreak of COVID-19 has negatively impacted various industries and countries across the globe. Decrease in growth rate of the industries such as building & construction, transportation, manufacturing, and energy sectors has been witnessed, owing to the lockdown imposed, globally. The COVID-19 outbreak has affected the demand as well as manufacturing for global. Moreover, the upstream and downstream channels have been affected due to restrictions on movement, which lead to increase in the number of inventories. The COVID-19 pandemic has impacted delivery times for electric vehicle projects, which is consequently hindering the demand for batteries. The delay in projects is owing to labor shortages.

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Key findings

• By type, the photo voltaic cell segment accounted for about 43.3% of the share in the global photocell market in 2021, and is expected to maintain its dominance during the forecast period.
• By material used, the crystalline silicon segment accounted for 42.3% photocell market share in 2021, and is anticipated to grow at a rate of 5.3% in terms of revenue, increasing the global photocell market share
• By application, the aviation segment is the fastest-growing application segment in the global photocell market and is expected to grow at a CAGR of 5.3% during 2022–2031.
• Asia-Pacific is expected to grow at the fastest rate, registering a CAGR of 5.5%, during the forecast period.
• In 2021, Asia-Pacific dominated the photocell market with more than 39.1% of the share, in terms of revenue.

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll-Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
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Fax: +1(855)550-5975
help@alliedmarketresearch.com
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