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Sales of Function Generators to Increase by 1.6x by 2032; U.S. to Vanguard the Sales

Fact.MR's recent analysis on the function generators market provides a comprehensive outlook of challenges, opportunities, latest trends, and growth drivers prevailing in the industry. In addition, the report delivers compelling insights into segments of the market in terms of type, current, and end user across five regions.

NEW YORK , June 15, 2022 /PRNewswire/ -- The global function generators market size is poised to expand at a CAGR of 4.6% over the forecast period of 2022 and 2032. Increasing investments in the automotive sector, especially for the development of electric vehicles are anticipated to bode well for the global market.

Concerns regarding the harmful effects of emissions on the environment is increasing across aerospace and defense industries. This is encouraging the leading industry players to adopt power-efficient and high-performance devices such as function generators.

As per Fact.MR, the global function generators market is set to reach US$ 1.53 Bn in 2022 and exceed US$ 2.4 Bn by 2032. Growth is attributed to the introduction of new targets to deploy green energy technologies, such as solar, wind, and hydro, in emerging economies.

Moreover, increasing demand for military equipment coupled with rising investment by government bodies for modernization of defense capabilities is expected to propel demand. Growing security concerns and uncertainties of the international security environment will also boost the market.

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As per the Stockholm International Peace Research Institute (SIPRI), in 2021, the U.S. military spending was US$ 801 Bn , whereas funding for military research and development in the country surged by 24% between 2012 and 2021. The trend is projected to continue throughout the forthcoming years, thereby pushing sales of function generators.

In addition to that, demand for up to 50 MHz function generators is likely to grow at a rapid pace stoked by their increasing utilization in the wireless communication & infrastructure, energy, and automotive industries. Automotive in-car entertainment, such as head units and speakers also require function generators with an output frequency of up-to 50 MHz.

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Leading players in the global function generators market are increasingly focusing on mergers and acquisitions with domestic and start-up companies to conduct exhaustive research and development activities, as well as come up with innovative products for customers.

Meanwhile, a few other companies are focusing on partnerships and collaborations with international players to expand their business networks. A few of the key players are also engaging in new product launches to broaden their portfolios and strengthen their positions in the global market.

Key Companies Profiled by Fact.MR

More Valuable Insights on Function Generators Market

In the latest study, Fact.MR offers a detailed study on global function generators market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of function generators through detailed segmentation as follows:

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Key Questions Covered in the Function Generators Market Report

Explore Fact.MR's Coverage on the Industrial Goods Domain

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Portable Inverter Generator Market: Fact.MR mentions that the global portable inverter generator market size is expected to surpass USD 7.7 Bn in the forecast period from 2022 to 2032 and exhibit a CAGR of 9.7% by 2032. Minimal noise & vibration levels, high quality outputs, and ease of carrying are anticipated to propel the demand for portable inverter generators over conventional generators.

Electric Generators Market: The electric generators market research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. 

Wind Turbine Generator Market: According to the latest analysis by Fact.MR, a market research and competitive intelligence provider, utilization of wind turbine generators witnessed a growth rate of 15.1% over the past half-decade. This was due to increasing demand from the end-use industry owing to favorable government regulations.

Diesel Generators Market: The global diesel generator market is anticipated to witness a considerable growth rate, run by the shortage of reliable grid infrastructure, particularly in developing economies. The demand in European countries is also gaining pace at a robust rate.

Mobile Generators Market: In the past few years, the demand for mobile generators has increased considerably and is likely to grow in the coming years. Owing to increase in the need of power backup facility in commercial, residential and industrial sectors. The demand for mobile generators is also fueled by the inclining consumer preferences.

Gas Generator Market: The global gas generator market is anticipated to witness a gradual growth rate over the forecast period, prominently supported by shortage of reliable grid infrastructure, particularly in developing economies. Rapid industrialization is one of the key growth driving factors that has fueled the demand for global gas generator market.

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