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What is the Global Portable Generators Market Size? | Grand View Research, Inc

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What is the Global Portable Generators Market Size? | Grand View Research, Inc

March 12
08:38 2020
What is the Global Portable Generators Market Size? | Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting
On the basis of power range, the portable generator market has been segmented into low power (8 – 20 KW), medium power (21 – 370 KW), and high power (371 – 450KW). The low power segment dominated the market in 2018 as these product variants are widely used for residential and commercial purposes for powering air conditioners, water pumps, and refrigerators.

The global portable generator market size is expected to reach USD 5.2 billion by 2025, registering a CAGR of 5.2% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. The market has witnessed considerable growth owing to the growing need for temporary mobile Alternative Current (AC) generators to offer uninterrupted power supply during power shortage. Increase in awareness about the use of mobile backup power solutions for homes in order to cope with power cuts is expected to drive product demand in the residential segment over the forecast period.

Mobile generators are operated by fuels such as diesel or gas and are available in various models such as low-end and high-end. High-end models are used to operate all the appliances while low-end models are used to operate appliances that require low power. Portable generators are mostly used on a temporary basis for new construction sites, where usage of a power grid is difficult.

Factors such as aging electrical infrastructure and increasing oil and gas exploration activities are leading to growing demand for power. Technological advancements in IoT have enabled the development of computer-controlled portable generators, which are expected to drive the portable generator market.

Surging demand for energy owing to the growth of small- and medium-sized enterprises is expected to propel demand for mobile power generators over the next few years. Additionally, the introduction of favorable initiatives of governments in Asia Pacific for the development of green buildings is expected to drive demand for temporary power supply. For instance, the Ministry of New and Renewable Energy of the Government of India introduced the Green Rating for Integrated Habitat Assessment in 2017, which rewards contractors constructing green buildings.

Major players are making massive investments in research and development programs for developing portable generators equipped with value-added features. Companies are focusing on developing products with features such as Bluetooth connectivity and CO guard carbon monoxide technology. In April 2019, Briggs & Stratton Corporation developed a portable generator that featured the CO guard carbon monoxide shutdown technology. This technology was designed to shut down generators when the levels of carbon emission cross the threshold value in the operating area.

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U.S. portable generator market

Further key findings from the report suggest:

  • The U.S. Environmental Protection Agency (EPA) is focusing on implementing cleaner standards and regulations primarily for diesel fuel-powered engines

  • Rapid infrastructural development in countries such as China, India, Singapore, and South Korea has led to a rise in the number of multistory residential buildings, where portable generators are used to keep elevators continuously powered

  • The gasoline segment is anticipated to register the highest CAGR over the forecast period owing to factors such as low environmental pollution, cost-effectiveness, and durability

  • The construction end-use segment is expected to exhibit the highest CAGR between 2019 and 2025 owing to increasing demand for mobile generators for construction projects such as hotels, shopping malls, and commercial parking facilities

  • The portable generator market is highly competitive with the main players including Generac Power Systems Inc.; Kohler Co.; Cummins, Inc.; Multiquip, Inc.; WINCO; Harrington Generators International Ltd.; Briggs & Stratton Corporation; Wacker Neuson SE.; Honda Siel Power Products Ltd.; and Caterpillar Inc.

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Europe portable generator market

 

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Grand View Research has segmented the global portable generator market on the basis of product, power range, end use, and region:

Portable Generator Product Outlook (Revenue, USD Million, 2014 – 2025)

  • Diesel

  • Gaseous

Portable Generator Power Range Outlook (Revenue, USD Million, 2014 – 2025)

  • Low Power (8 – 20KW)

  • Medium Power (21 – 370KW)

  • High Power (371 – 450KW)

Portable Generator End-use Outlook (Revenue, USD Million, 2014 – 2025)

  • Commercial

  • Residential

  • Industrial

    • Construction

    • Mining

    • Oil & Gas

    • Others

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 26 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 426 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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