The Global report on “Portable Generator Market” delivering key insights and providing a competitive advantage to clients through a detailed report. The report also details the information about the global market status, growth rate, future trends, market drivers, challenges, opportunities and porter’s forces analysis with respect to these elements. An exclusive data offered in this report is collected by research and industry experts team.
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The portable generator market is projected to reach USD 2.5 billion by 2024, at a CAGR of 4.1% from 2019 to 2024
The global portable generator market size is estimated to be USD 2.0 billion in 2019 and projected to reach USD 2.5 billion by 2024, at a CAGR of 4.1% from 2019 to 2024. The increasing demand for uninterrupted and reliable power supply and business continuity during natural calamities are the driving factors for the growth of the portable generator industry.
Developing nations are increasing the investments for infrastructure developments for an economic boost. The industrial and manufacturing sectors require a continuous and reliable power supply, and the growth of these sectors is expected to shape the future dynamics. Thus, the growing need for an uninterrupted power supply is expected to drive the portable generator market during the forecast period. The increasing adoption of energy storage technologies and the rising demand for fuel cell generators can act as restraints for the market development.
The prime/continuous segment is projected to dominate the portable generator market during the forecast period
Prime/continuous portable generators are expected to constitute the highest growing market, accounting for the maximum share. Increasing investments and developments in the construction sector require an uninterrupted power supply for operations.
The residential segment is projected to dominate the portable generator market during the forecast period
Portable generators are used in residences for running a range of appliances, such as lights, refrigerators, sump pumps, heaters, TVs, water purifiers, and air-conditioners in emergencies. The number of blackouts in countries such as the US and Mexico is very high. For instance, in September 2017, 1.5 million people were affected in Puerto Rico due to electricity loss caused by Hurricane Maria. There is a need for continuous power supply in emergencies, which is expected to boost the demand for portable generators in the residential segment.
Asia Pacific is expected to grow at the highest CAGR from 2019 to 2024
The Asia Pacific region is currently the largest market for portable generators, followed by North America and the Middle East & Africa. China accounted for the maximum share in Asia Pacific in 2018 and is projected to grow at the highest CAGR from 2019 to 2024.
The increase in demand for portable generators in Asia Pacific is due to the tremendous need for uninterrupted and reliable power supply. The growing investments for infrastructure development are likely to contribute to the growth of the portable generator market.
Breakdown of Primaries:
In-depth interviews were conducted with key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information as well as to assess future market prospects.
The distribution of primary interviews is as follows:
- By Company Type: Tier I–60%, Tier II–27%, and Tier III–13%
- By Designation: C-level–55%, Managers–30%, and Others*–15%
- By Region: North America–35%, Europe–24%, Asia Pacific–21%, South America–11%,Middle East & Africa–9%
*Others include sales managers, marketing managers, product managers, and product engineers.
Note: The tier of the companies is defined on the basis of their total revenue as of 2018;Tier 1: USD 1 billion, Tier 2: from USD 1 billion to USD 500 million, and Tier 3: < USD 500 million.
The portable generator market is dominated by a few major players that have an extensive regional presence. The leading players include the Honda (Japan), Briggs & Stratton (US), Atlas Copco (Sweden), Generac (US), and Yamaha (Japan).
The report defines, describes, and forecasts the portable generator market based on end-user, application, power rating, fuel, and region. It also offers detailed qualitative and quantitative analyses of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include the analysis of the competitive landscape, market dynamics, future trends, and market estimates, in terms of value, in the portable generator industry.
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