Selbyville, Delaware, July 19, 2021 (GLOBE NEWSWIRE) --
The portable generators market is anticipated to surpass an annual deployment of over 12 million units by 2027, according to a new research report by Global Market Insights Inc. Rising end user awareness toward smart technological upgrades and emergency readiness coupled with escalating power consumption will completement the industry growth. Growing government initiatives to boost adoption of energy efficient units coupled with industry inclination toward the integration of units with advanced technology will augment the market share.
Conventional portable genets accounted for over 73% share of the global market in 2020. These systems are majorly installed for contingency power backup in small scale industries, residential flats, and offer constant power during weather calamities, grid network failures and brownouts. Easy accessibility to different fuel options, quick response time to power shutdowns, small surface footprint, and cost efficiency are a few features propelling the unit demand.
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Diesel portable generators market is anticipated to witness substantial growth owing to surging power demand from healthcare and off-grid spaces. Factors including application area, safety considerations, ease of storage, fuel economy & availability are the underlying parameters driving the market statistics. Swelling demand for power from residential areas on account of increased dependency on various electrical appliances will further propagate the industry dynamics.
Some major findings of the portable generators market report include:
- Heightened power demand followed by rising population & urbanization rate is set to stimulate the business scenario.
- Increasing demand for portable systems as a result of its capability to offer constant & reliable electricity supply.
- Introduction of stringent energy efficiency norms are encouraging the inverter portable gensets demand.
- Key players operating across the industry include Yamaha, Honda, Generac, Cummins, and Atlas Copco.
- Growing living standards following the rise in disposable income is set to stimulate augment the industry potential.
Browse key industry insights spread across 576 pages with 1197 market data tables & 38 figures & charts from the report, “Portable Generators Market Forecasts By Product (Conventional Portable Generator, Inverter Portable Generator), Fuel & Power Rating (Diesel {<20 kW, 20-50 kW, >50-100 kW}, Gasoline {<2 kW, 2-5 kW, 6-8 kW, >8-15 kW}), Phase (Single Phase, Three Phase), By End-Use (Residential, Commercial, Construction), Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2021 – 2027’’ in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/portable-generators-market
Outspread of COVID- 19 has resulted in staggering growth across manufacturing industry on account of delayed production processes coupled with stalemate of several mega construction projects. However, various countries including France, Germany, and the U.S. have taken this opportunity to shift their focus toward renewable resources. The shifting industry preference towards units operating on gas or other non-polluting fuels on account of their compliance with low emission norms is anticipated to enhance the product installation.
Middle East portable generators market will experience growth owing to ample availability of gasoline and diesel driven by the adoption of large-scale CGD and O&G exploration projects. Favourable government initiatives including Saudi Arabia Vision 2030, with an aim to promote development of public spaces including infrastructure, health, education, tourism and recreation is set to augment the market demand.
Prominent companies are targeting towards product innovation due to increasing focus for technological upgradations, aesthetics and competitive product pricing. Ongoing research and development expenses coupled with technological partnerships by market participants will enhance the industry outlook.
Browse the Toc of this report @ https://www.gminsights.com/toc/detail/portable-generators-market
Browse Related Report:
U.S. Portable Generators Market Forecasts, By Power Rating (<2 kW, 2-3.5 kW, 3.5-5 kW, 5-6.5 kW, 6.5-8 kW, 8-15 kW), Engine Class (Handheld Engines, Class I Engines, Class II Engines), End-Use (Residential, Commercial, Construction), Fuel (Gasoline, Others) Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast to 2024
https://www.gminsights.com/industry-analysis/us-portable-generators-market
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.