The global portable generator market is poised to garner growth at a CAGR of 5.34% throughout forecast period and to reach value around US$ 7.01 billion by 2030.
OTTAWA, Feb. 04, 2021 (GLOBE NEWSWIRE) -- The global portable generator market size estimated at US$ 4.21 billion in 2020. The growth of portable generator market is driven by increasing concerns over power stability for uninterrupted business operations during natural calamities.
An electrical generator is a device that operates on the principle of EMI or electromagnetic induction to produce electrical energy from mechanical energy. For instance, turbine rotation with the help of force created by falling water, hand crank, wind turbine, an internal combustion engine, solar energy, or any other comparable source. Generators are classified into portable and stationary generators. Portable units are not intended for permanent fitting instead are meant to momentarily energize a limited critical application thru external cords. Further, they operate with stand-alone applications. Portable residential generators find usage to supply vital home power requirements during power-outages, for running cabin appliances, or for power tools requiredthroughout projects. Recreational generators are transportable and are lighter and make less sound. Furthermore, these units are frequently traded to outdoor enthusiasts. Several models of portable units can be fueled by means of one or more of explicit energy sources such as diesel, gasoline, bio-diesel, propane or natural gas. Maximum portable units are air-cooled and henceforth ought to be functioned in the open for attaining air ventilation.
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Growth Factors
Cumulative acceptance of portable generators due to a rapidly expanding construction sector is fueling growth of portable generator market. Portable units are typically used when backup power requirements are low or only momentary. These assist as handy accessories in residential applications tooffer energy for sump pumps, lighting, particular essential appliances such as refrigerators and air conditioners, and vital medical equipment. Furthermore, portable generators are used infarms, construction sites, motor homes, camping trips and recreation vehicles among others. These generators usually find application in trailers where there is need for small power output. Due to compact and lightweight features, they can be accessibly stored in the backside of a tow vehicle or the trailer compartment. Increasing digital revolution owed to technological advancement in IT area followed by virus outstretched has caused in unexpected increase in industry automation.
Growing responsiveness of global warming has occasioned in rising need for portable generators based on a sustainable energy source such as biofuel. Biofuel has chemical appearances comparable to that of petroleum-based fuels and henceforth, it can be employed as a direct alternative for diesel fuel. Additionally, biofuel proposes energy independence to nations such as Italy and Japan who import natural gas and petroleum from other nations. Biofuel is produced from sources such as canola, soybean, corn, animal fats and used cooking oil. Increasing requirement for biofuel powered generators is expected to offer lucrative opportunity to market participants during years to come.
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Report Highlights
- Geographically, Asia Pacific seized major cut of the global portable generator market in 2020.
- The residential end-user segment is predicted to be the potential market for global portable generators during impending years
- Presently, portable diesel generators are the most prevalent type of generators as they are more effective, reliable and robust compared with natural gas and petroleum generators.
Regional Snapshots
Portable generators are utilized in small shops throughout several outdoor functions and events and in Asia Pacific. APAC is predicted to grasp majority of the market share and expected to uphold this dominance during years to come. After Asia Pacific, North America accounted for considerable stake in the portable generators market. Upsurge in natural calamities in this region in the form of hurricanes are hindering power usage. This in turn flourishes the sale of portable generators across this region. Furthermore, portable generators find application in mining sites and drilling sitesLatin America and in Middle East & Africa due to the less obtain ability of power supply.
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Key Players & Strategies
Global portable generators market is fragmented in nature due to presence of large numbers of well-established and domestic players. The topmarket vendors are emphasizing on development tactics such as product launch. Further in order to accomplish foremost portable generators market stake and differentiate the service and product offering and withstand intense competition, players are focusing on various strategies. In addition, players have also implemented collaboration strategies for employment of novel technologies, upgrading of operational performance, innovation and market expansion.
Few notable market players include Briggs & Stratton Corp., Atlas Copco AB, Cummins Inc., Caterpillar Inc., Generac Power Systems Inc., Eaton Corp. Plc, Kohler Co., Honda Motor Co. Ltd., Yamaha Motor and ViacomCBS Inc among others. Influences such as untrustworthy power grid infrastructure in emerging nations will provide enormous growth prospects. Yet, developing alternatives may obstruct the growth of the market. In order to make most of these openings, players operating in the generator’s marketplacemust focus on development prospects in the fast-growing segments, while upholding their places in the slow-growing sectors.
Market Segmentation
By Type
- Diesel
- Gaseous
By Application
- Commercial
- Industrial
- Residential
By Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- United Kingdom
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
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