Market Trends of South America Portable Generator Industry
This section covers the major market trends shaping the South America Portable Generator Market according to our research experts:
Residential Segment Expected to Dominate the Market
- Because of the prevalent installation of gensets across households to ensure the availability of emergency power supply, the residential segment of the portable generators market is predicted to expand and drive the market.
- Further, South America has an increasing demand for residential energy. According to the Empresa de Pesquisa Energética (Brazil's Energy Research Office), in 2021, residential energy consumption increased from 124.91 terawatt-hours in 2013 to about 149.8 terawatt-hours. However, the region has poor power quality, which could drive the market for portable generators.
- In January 2022, Argentina's capital, Buenos Aires, witnessed a power outage that left 700,000 households without electricity amid a heat wave with temperatures above 40 degrees Celsius.
- Overall, South America's increasing residential power demand and poor power quality would aid the portable generator market.
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Brazil Expected to Dominate the Market
- Brazil, one of South America's largest countries, is among the fastest-growing economies. Furthermore, Brazil's national electricity reliability is challenged because it largely depends on hydropower.
- As of 2021, hydro energy constituted around 55% (362.8TWh) of the total generated power. The long-distance between hydropower generation and demand centers causes power issues which drives the portable generator market.
- The Brazilian government is also increasing private investment in infrastructure to meet the country's demand, especially in railways, ports, highways, and airports. The increasing infrastructure growth widens the power supply and demand gap, which aids the studied market.
- In 2021, Brazil witnessed the worst drought. The drought threatened the nation's electricity supply since the country is dependent on hydropower. Such instances positively affect the portable generator market, as it supports essential businesses and industries during such times.
- Overall, the country's dependence on hydropower and the widening gap between electricity generation and demand aid the portable generator market.
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