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NEW YORK, NY / ACCESSWIRE / January 18, 2021 / The demand for generators is significantly high in rural areas and regions witnessing frequent power fluctuations and outages, a trend which is expected to continue well through 2030. Fact MR. in a new study has forecast the global market to ride on increasing power demand worldwide. As per its study, the market will exhibit positive growth through 2021 and beyond. Surging investment to boost production of hydrocarbons from bulk conventional and unconventional resources will continue favoring the expansion of the market over the forecast period.
The BP Statistical Review of Energy 2020 revealed that the total primary consumption of energy reached 583.9 exajoules in 2019, increasing from 576.23 exajoules in 2018, exhibiting a year-on-year increment over 1.3%. This is indicative of surging power demand in developed and developing countries alike, which will give tailwinds to the growth of the generator market in the coming years.
Generator Sales to Grow at over 5% in 2021 as Manufacturers Refocus on Innovations: Fact MR Study yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.