Dublin, Feb. 16, 2023 (GLOBE NEWSWIRE) -- The "Global Portable Generator Market" report has been added to ResearchAndMarkets.com's offering.
The Portable generators market is expected to grow at a CAGR of 6.0% during the forecast period, from an estimated USD 2.2 Billion in 2022 to USD 2.9 Billion in 2027.
The growth of portable generators is mainly driven by the increasing number of weather-related & nonweather-related power outages, and aging grid infrastructure.
5 -10 kW is expected to emerge as the fastest segment based on power rating
The 5-10 kW portable generators are majorly used in camping and recreational applications as an emergency power source. For instance, in North America the camping activities was seen to be following increasing trend from past few years, according to KOA which is expected to rise the usage of portable generators as a backup sources. This rise in these outdoor activities are some of the factors contributing to the growth of this market segment.
Conventional Generator: The largest segment for the portable generators market, by product type
Conventional generators maintain their speed in order to produce electricity. Some have an idle mode that will save fuel when nothing is drawing electricity. The demand for electricity increases as the usage of the machine tools in work shops or turning on a light bulb is needed. The amount of fuel required increases and so does the noise because the generator engine is working harder.
North America is expected to be the second largest market during the forecast period
The countries included are the US, Canada, and Mexico. North America is one of the leading manufacturers and consumers of electricity. The massive industrial sector of North America lies in the territory of US and Canada thus both of them contributed the largest share in electricity generation.
The largest consumers of energy are US and Canada countries in the region level and global level as well which are contributing to the largest share of the portable generator market. Environmental distress, power shortages, and new exploration activities for natural gas fuel, and peak time electricity costs are expected to push the portable generator market in this region.
Competitive landscape
The portable generators market is dominated by a few major players that have a significant regional presence. The leading players in the portable generators market are. Honda (Japan), Generac (US), Yamaha (Japan), Cummins (US), Atlas Copco (Sweden).
Key Metrics
| Report Attribute | Details |
| No. of Pages | 189 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $2.2 Billion |
| Forecasted Market Value (USD) by 2027 | $2.9 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
Premium Insights
- Rising Demand for Backup Power Sources During Power Outages
- Asia-Pacific to Register Highest CAGR in Market During Forecast Period
- Residential Segment and US Dominated North American Market in 2021
- Residential Segment to Dominate Market in 2027
- Gasoline Segment to Dominate Market in 2027
- Emergency Segment to Dominate Market in 2027
- 5-10 kW Segment to Dominate Market in 2027
- Conventional Generator Segment to Dominate Market in 2027
Market Dynamics
Drivers
- Rising Instances of Power Outages
- Growing Construction Activities
Restraints
- Stringent Government Regulations Pertaining to Emissions from Generators
- Suitability of Portable Generators for Low-Power Applications
Opportunities
- Technological Advancements Such as Dual-Fuel and Inverter Portable Generators
- Increase in Power Demand with Growing Urbanization
Challenges
- Increasing Adoption of Renewable Energy Solutions
- Noise and Exhaust Issues Associated with Portable Generators
Value Chain Analysis
- Raw Material Providers/Suppliers
- Component Manufacturers
- Manufacturers/Assemblers
- End-users
- Post-Sales Service Providers
Case Study Analysis
- PR Power Supplies Its Portable Diesel Generator to Salvation Army for Emergency Services
- Honda Power Equipment Launched Co-Minder System
Company Profiles
Key Players
- Atlas Copco
- Briggs & Stratton
- Generac
- Honda
- Yamaha
- Caterpillar Inc.
- Cummins
- Honeywell International Inc.
- Siemens
- Rato Europe
- Kohler
- Inmesol
- Himoinsa
- Duromax
- Loncin
Other Players
- Champion Power Equipment
- Wen
- Pulsar Products
- Westinghouse
- Wacker Neuson
For more information about this report visit https://www.researchandmarkets.com/r/xqgsa8-portable?w=12
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