The Portable Generator Market is projected to be USD 1.91 Billion in 2017 and is expected to grow at a CAGR of 3.66%, during the forecast period, to reach a market size of USD 2.28 Billion by 2022. The increasing number of weather-related power outages and the growing demand for uninterrupted and reliable power supply in developed and developing nations are expected to drive the global portable generator market during the forecast period.
The portable generator market has been segmented, by end-user, into residential, commercial, and industrial. The residential end-user segment led the portable generator market in 2016. Portable generators are mainly used to run the small-sized and medium loads, including household appliances, small-sized to medium industrial machineries such as air compressors, drills, vibrators, and agricultural applications. The increasing number of weather-related and non-weather-related (aging grid) power outages are creating problems for small and medium scale businesses. Frequent power outages due to weather-related and aging grids are the main drivers for the portable generator market.
The report segments the portable generator market on the basis of fuel type, into gasoline (petrol), diesel, natural gas, and others which includes LPG, propane, and bio-diesel. The others segment is the fastest growing segment of the portable generator market. The increased focus on environment-friendly technologies around the world is driving the market for LPG-, propane-, and bio-diesel fuel-based portable generators.
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On the basis of power rating, the portable generator market has been segmented into < 5 kW, 5 to 10 kW, and 10 to 20 kW. The 5 to 10 kW segment is expected to be the fastest growing segment during the forecast period. 5 to 10 kW generators find applications in air compressors, drills, high-pressure washers, and industrial motors and these portable generators can handle a huge amount of load.
On the basis of application, the portable generator market has been segmented into emergency and prime/continuous power. The prime/continuous power segment is expected to be the fastest growing segment during the forecast period. Increasing construction activities in countries such as China, India, the US, the UAE, and Saudi Arabia are expected to create the demand for portable generators for prime/continuous power applications.
In this report, the portable generator market has been analyzed with respect to five regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East and Africa. Asia Pacific is expected to be the fastest-growing market for portable generators during the forecast period. Asia Pacific is the home to two of the fastest-growing economies, India and China. The building and construction market is on the rise in India and China, due to current government initiatives such as smart cities and green building initiatives, which are expected to create the demand for portable generators during the forecast period.
Some of the major players in the portable generator market are Honda Motor (Japan), Briggs & Stratton (US), Co. (US), Generac (US), and Yamaha (Japan). These players have adopted growth strategies such as new product launches, contracts & agreements, mergers & acquisitions, and expansions to capture a larger share of the portable generator market.
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Global Portable Generator Market - 2023 Key Manufacturers Analysis and Review Report
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