The global portable generator market size is anticipated to touch USD 5.2 billion by the end of 2025 and is projected to grow at a CAGR of 5.2% during the forecast period 2019 to 2025, according to the new report by Million Insights. The increasing demand for temporary mobile alternating current (AC) generator that provides uninterrupted power supply (UPS) in case of power shortage is boosting the market growth. Additionally, the rising demand for backup power solution for mobile is contributing to market growth.
Low & high-end models of mobile generators are fueled by diesel and gas. High-end models are suitable for all appliances. Portable generators are widely used at construction sites wherein there are difficulties in power grid supply.
Furthermore, growing oil & gas exploration activities and aging electrical infrastructure are leading to high demand for portable generators. Additionally, the technological developments in IoT and computer-controlled portable generator are driving the market growth.
Increasing energy demand across small & medium enterprises is surging the need for mobile-powered generators. Moreover, supportive government initiatives along with the development of green buildings are boosting the portable generatorsmarket growth. For example, in 2017, the Ministry of new & renewable energy in India has introduced Green Rating for integrated habitat assessment for construction of buildings.
Key players in the industry invest in research & development activities to develop high-quality portable generators. Companies are introducing various added features CO guard carbon monoxide and Bluetooth connectivity technology. All these factors are anticipated to bolster the market growth.
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Further key findings from the report suggest:
• Environmental Protection Agency (EPA) in the U.S. focus on regulations & standards regarding diesel based engines.
• Infrastructural development across the countries such as India, South Korea, China, and Singapore has led to rise in the number of residential buildings, which is boosting the usage of portable generators in powering applications.
• Gaseous segment is expected to expand at the fastest CAGR during the forecast period, due to its high durability and cost-effectiveness.
• Depending on end use, construction segment is projected to grow at the fastest CAGR from 2019 to 2025.
• Key players include, Kohler Co.; Generac Power Systems Inc.; Cummins, Inc.; WINCO; Harrington Generators International Ltd.; Multiquip, Inc.; Briggs & Stratton Corporation; and Caterpillar Inc.
Million Insights has segmented the global portable generator market based on product, power range, end use and region:
Portable Generator Product Outlook (Revenue, USD Billion, 2014 - 2025)
Portable Generator Power Range Outlook (Revenue, USD Billion, 2014 - 2025)
• Low Power (8 - 20KW)
• Medium Power (21 - 370 KW)
• High Power (371 - 450 KW)
Portable Generator End-use Outlook (Revenue, USD Billion, 2014 - 2025)
• Oil & Gas
Portable Generator Regional Outlook (Revenue, USD Billion, 2014 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa