Portable Generator Market Share, Trends, Business Opportunities, Forecast 2023
Posted by mrfr123 on March 20th, 2020
Portable Generator Market Highlights
The global portable generator market is estimated to grow at 4.15% CAGR during the forecast period. Growing demand for data centers and IT facilities is the major factor driving the portable generator market. A portable generator is primarily used when temporary power is needed. Growth in the construction sector across the globe, driving thePortable Generator Market Share. The governments across the globe is spending more on physical and social infrastructure.
These generators are used in several construction activities, which include cutting, drilling, lifting, and others. Moreover, growing demand for uninterrupted and reliable power supply is fuelling the growth of the market. Portable generators produce carbon monoxide (CO), which is an odorless, colorless and very harmful to people. Hence, stringent regulation is set by various governments on emissions by diesel engines. This factor may act as a restraining factor for the market
Global portable generator market Segmentation
Global portable generator market has been segmented based on fuel type, rated power, application, end-user, and region.
Based on fuel type, the market has been segmented into diesel, gas, and others. The gasoline segment accounted largest market share in 2016 and is expected to grow at the highest CAGR during the forecast period, mainly due to gasoline fuels being more compatible with small capacity engines. Besides compatibility, the availability of fuel and clean operation are also the key factors for the growth of gasoline portable generators. Furthermore, stringent environmental norms to control the emission of hazardous gasses from diesel generators boost the growth of the gasoline portable generators.
Based on end-user, the market has been segmented into industrial, commercial, and residential. The residential segment accounted for the largest market share in 2016. Increase in awareness among consumers regarding in-house power backup is ultimately increasing the demand for portable generators in the residential sector. The ease to start and portability are the key factors increasing the popularity of the portable generators in the residential sector. Portable generators are used to run necessary appliances, such as lights, refrigerators, and fans. The industrial segment is estimated to be the fastest growing end-user segment of the portable generator market.
On the basis of region, North America is the largest market for portable generator. Asia Pacific is expected to grow at the highest CAGR during the forecast period.
The North America region has the largest market for portable generator. Growing demand from the industrial sector and ageing infrastructure result in power blackouts, driving the growth of the market in the region. Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The market in Asia Pacific is mainly driven by the increasing demand for reliable power supply, rising power generation capacity, and growth of manufacturing industries in the region. Prominent countries such as China, Japan and India are driving the portable generator market in the Asia Pacific region. China was the largest country level market for portable generator in the APAC region, followed by India and Japan.
The key players of global Portable Generator market are Honda Motor Co., Ltd (Japan), Briggs & Stratton Corporation (U.S.), Generac Power Systems, Inc. (U.S.), Yamaha Motor Corporation (Japan), Caterpillar Inc. (U.S.), Cummins, Inc. (U.S.), Kohler Co. (U.S.), Eaton Corporation Plc (Ireland), Champion Power Equipment, Inc. (U.S.), Siemens AG (Germany), MTU Onsite Energy (U.S.), Honeywell International Inc. (U.S.), Wacker Neuson Group (Germany), SmarterTools Inc. (U.S.), and Atlas Copco (Sweden).
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