The emergence of natural fuel sources is expected to provide opportunities for the portable generator market growth
The global portable generator market size is projected to reach nearly USD 2.9 billion by 2028. In addition, the market is forecasted to grow a CAGR of above 4% over the forecast period of 2020-2028. Rapid industrialization around the globe is projected to boost the demand along with the growing need of portable products from the consumers. The high growth of the commercial sector across the rapidly growing economies, including China, Indonesia, South Korea and India, is expected to fuel demand in the industry. Car generators run on fuels such as diesel or petrol, and are available in different versions such as low-end and high-end products. High-end application products are used to run both the appliances while low-end application products are used to run only low-power appliances. New building projects use portable generators as a temporary product in replacement after the power cut off.
The report also outlines the various characteristics of the global portable generator industry by assessing the market from value chain analysis. Moreover, the portable generator market report comprises various qualitative parts of the portable generator industry in market restraints, essential industry drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.
The portable generator market has huge competition amongst the already well-known and new market players. Also, the portable generator industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence. The growing demand for portable alternative current generators to provide continuous supply of power has provided a significant demand in the global industry. The efficient features for the use of portable power backup solutions to fulfill the needs during power cuts is expected to fuel demand for the commodity in the residential sector over the coming years.
Diesel fuel type, in terms of volume, is expected to report the highest CAGR between 2020 and 2028. Car generators operate on fuels like petrol and diesel, and are available in various models such as low-end and high-end variants. Moreover, the economical price of the gasoline fuels anticipates the major demand for the generators in the global industry. The use of fuel type provides a longer life to the product and its capacity to generate heavy outputs, Diesel portable generators are largely used in the construction, mining, gas and oil industries.
The residential segment in the portable generator industry is expected to be the fastest-growing end-use market. The products are in high demand from the small machinery industries in use for the local manufacturing products. The commercial applications for the products from the industries are generally in the production of machineries such as agricultural, drills, air compressors and vibrators.
The Asia-Pacific region is projected to accumulate the highest growth during the forecast years. The Asia Pacific market for portable generators is expected to contribute significant market revenue shares, which can be attributed to increased adoption of new technologies and growing manufacturing and construction activities in the regional sector. China is expected to lead the Asia-Pacific market by increasing infrastructure projects, widening the demand-supply gap in power, expanding manufacturing facilities nationwide, and increasing commercial office spaces. The country benefits from low cost and high efficiency of the portable generators with improved living standards boosting demand for power back-up devices.
The major players of the global portable generator market are Yamaha, Atlas Copco, Honda, Generac, Briggs & Stratton. Moreover, the market comprises several other prominent players in the portable generator market as Kubota, Cummins, Kohler, Siemens, Caterpillar, Wacker Neuson, Eaton and Honeywell. The portable generator market comprises well established local as well as global players. In addition, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.
Segment Overview of Global Portable Generator Market
Fuel Type Overview, 2018-2028 (USD Billion, Million Units)
- Gasoline (Petrol)
- Natural Gas
Application Overview, 2018-2028 (USD Billion, Million Units)
End User Overview, 2018-2028 (USD Billion, Million Units)
Regional Overview, 2018-2028 (USD Billion, Million Units)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America