Research Nester released a report titled “Portable Generator Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global portable generator market in terms of market segmentation by fuel type, end user, application, power, and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global portable generator market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2022-2030. The growing urbanization coupled with the increasing frequency of power grid failures has led consumers to opt for portable generators, particularly for residential applications, to ensure an uninterrupted electricity supply. Growing demand for uninterrupted power supply, backed by booming construction sector is also anticipated to contribute to the market growth. Rapid industrialization and infrastructure development is expected to positively affected market growth. Owing to various government initiatives residential sector is going to increase globally, for instance, in India, the central government is planning to build 20 million affordable houses in urban areas across the country under the program Pradhan Mantri Awas Yojana. This is expected to fuel the market development. In addition to this, increasing intensity and frequency of weather-related outages further fuel the demand for portable generators, which is estimated to boost the market growth.
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Market is divided on the basis of application into prime/continuous, and emergency. The emergency segment is estimated to hold the largest share throughout the forecast period owing to the demand for generators for emergencies, caused by random power cuts. Inadequate power generation infrastructure and poor grid networks in developing countries have forced small-scale manufacturers and businesses to rely on emergency portable generators, which is estimated to boost the growth of the segment. On the basis of end-user, the market is segmented into commercial, industrial and residential. The residential segment is estimated to hold the highest share over the forecast period, owing to the boost in construction of new residential areas to accommodate the growing population.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to rising industrialization, urbanization, and technological advancement. Market growth can also be attributed to factors such as rising concerns overpower stability for uninterrupted business operations during natural calamities. Moreover, aging grid infrastructure and rising power cuts are further expected to boost the market growth within the region.
Technological Advancement to Drive Market Growth
Honda Motors Co. Ltd. introduced a Bluetooth app which allow operators to remotely monitor critical operations of Honda portable generators on a smartphone.
Growing electricity demand, caused by industrial development and failure of power grids to fulfill the growing power demand are the major factors driving the market growth. As aging power grids are not able to take the load, this leads to frequent power cuts, which in turn, results in people moving towards technologically advanced portable generator.
However, some generators cause noise and air pollution and have limited running time, which can hamper the market growth in the near future.
This report also provides the existing competitive scenario of some of the key players of the global portable generator market which includes company profiling of Briggs & Stratton, LLC, Honda Motor Co., Ltd., Yamaha Motor Co., Ltd., Caterpillar, Eaton Corporation plc, Honeywell International, Inc., Siemens AG, KUBOTA Corporation, Wacker Neuson SE and Himoinsa S.L. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global portable generator market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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