Portable Generators Market Projected to Accelerate At 5.1% CAGR by 2022

Posted by Arslan on June 19th, 2019

The purpose of this comprehensive forecast report presented by FactMR is to elaborate the various market projections impacting the global portable generators market size during the period through 2017-2022. This assessment delivers high-end statistics concerning market size, growth in trends and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about market growth trends along with upcoming opportunities that are expected to reshape the overall structure of the portable generators market during the forecast period.

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Ensuring uninterrupted supply of electric power, portable generators run on gas or diesel. The portable generators include an engine that turns a small turbine, generating electricity. The key measurement in portable generators is total wattage. Portable generator with higher wattage means more power for higher wattage appliances and tools. Being compact in size, portable generators are mostly used by residents and businesses. Different types of portable generators are available based on applications and needs such as camping generators, mine spec generators, inverter generators, etc.

Players in the portable generators market are offering various types of generators such as diesel generators, gas generators, bi-fuel and tri-fuel generators. However, due to stringent regulations on toxic emissions in various countries, portable generators market players are shifting their focus toward developing gas generators as they are more environmentally friendly than diesel generators. Bi-fuel is also one of the focus areas of companies in the portable generators market, as it leads to significant fuel saving and also offers flexibility to the end user to choose the fuel type. Leading companies in the portable generators market are also investing in research and development of methods and technologies to minimize carbon monoxide emission from portable generators.  

According to a study by FactMR, the global portable generators market is expected to experience above-average growth, reaching US$ 797.2 million revenues between 2017 and 2022. Participants in the portable generator market are focusing on providing eco-friendly portable generators to the users. Growth of the portable generators market is significantly influenced by increasing number of residents and businesses that use portable generators owing to the need of power supply in emergency situatiops and during power cut due to harsh weather conditions.

Residential Portable Generators to Witness Maximum Usage

Portable generators are expected to be largely used by residential sector. By the end of 2017, the residential sector is projected to account for nearly three-fifth of the revenue share of portable generators market. Meanwhile, portable generators in the commercial sector are estimated to create an opportunity of more than US$ 40 million between 2017 and 2022.

Standby Backup Power Portable Generators to Account for Maximum Revenue Share

Standby backup power portable generators are estimated to exceed US$ 750 million revenues towards the end of 2022. By the end of 2017, it is projected to gain more than three-fourth of the revenue share of portable generators market.