Market Insights: A Selection From The Report
Global Electric Power Demand Trends
Driven by population and income growth, increasing urbanization and electrification and an increasing dependence on electrical appliances and devices, global residential electric consumption is expected to continue to grow. World consumption of electricity by households is anticipated to increase 2.9% a year from 4,255 terawatt hours in 2005 to 5,679 terawatt hours in 2015.
Consumers are more dependent than ever upon electric powered devices for daily living. Electric appliances and devices are used in nearly every aspect of daily household life.
Residents leverage these items to provide basic modern conveniences such as heating, cooling, refrigeration, food preparation and cooking, communications and entertainment.
Increasing dependency on electric appliances and devices is not limited to the world’s developed economies. In the developing countries, strong economic growth translates to growing demand for electricity. Rural electrification is enabling increasing numbers of households around the world to leverage basic electric appliances for lighting, heating, cooling and refrigeration.
Economic prosperity is further driving higher standards of living in many developing nations around the world. These increases in household and disposable income are driving greater demand for convenience appliances such as dishwashers, washer/dryers and small kitchen electrics as well as for consumer electronic devices for entertainment and communications.Since 2004, the growth of household electricity consumption by small electrical and electronic devices has been the most rapid of all appliance categories globally. Ownership levels of ICTs and consumer electronics in both developed and developing countries has been rapidly rising. As a result, these products now account for approximately 15% of global residential electricity consumption
In the News
Increasing Demand for Electricity Reveals BrightFuture for Residential Generators Market
New York, December 18 2009 - Driven by population and income growth, increasing urbanization and electrification and an increasing dependence on electrical appliances and devices, global residential electric consumption is growing at an electrifying rate; 40% since 2000 in developing nations. However, the generation and supply of electricity in many of these nations has not kept pace with many of these countries experiencing long-term energy shortages as a result of governments’ failure to plan for increased levels of electric demand, limitations of investment capital to increase electric generating capacity, and limited fuel availability to power generating plants.
The threat of power outages will unveil a strong and bright future for the residential generators market, according to the latest market research study from SBI, Residential Generators, 2nd Edition - U.S. Market and World Data. The global market is expected to grow 7% per year from 2010 to 2014 ultimately reaching $9 billion in 2014. Furthermore, worldwide residential engine-generator unit sales will approach nearly 13 million units in 2014.
“Global residential electricity consumption continues to grow in all parts of the world as the number and size of the energy-using appliances in the average household increases,” notes Shelley Carr, Publisher of SBI Energy. “Economically developed nations accounted for 64% of the world’s residential electricity consumption in 2009. However, residential electricity consumption in the world’s developing nations has increased at twice the rate of the developed nations in the past nine years.”
Residential Generators, 2nd Edition - U.S. Market and World Data provides a discussion of residential generator products and technologies as well as technologies which compete with traditional combustion engine-driven gensets. Global market demand for residential generators is quantified and projections for growth in demand are provided, along with the key factors influencing this growth. The report also provides profiles of 10 residential generator manufacturers.
About SBI Energy
SBI Energy, a division of MarketResearch.com, publishes research reports in the industrial, energy, building/construction, automotive/transportation and packaging markets. SBI Energy also offers a full range of custom research services.