Press release
Portable Generators Market to Witness a Stunning 5.1% CAGR through 2017 to 2022
Manufacturers are offering better options including lighter and more compact designs. Undergoing technological advancements, smart portable generators are also being developed with advanced features. Residential sector being the largest user of portable generators is facing the problem of deadly carbon monoxide emissions from portable gasoline-powered generators. Hence, this is resulting in the development of technology or method by manufacturers to reduce carbon monoxide emissions from portable generators.
According to the latest report by Fact.MR, the global portable generators marketis expected to witness steady growth, registering 5.1% CAGR during 2017-2022. Owing to the low-cost and providing power supply in an emergency, portable generators are gaining popularity among residents and businesses. Meanwhile, manufacturers are also focusing on various technologies to develop eco-friendly generators and to save fuel cost.
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5 Forecast Highlights on Global Portable Generators Market
North America is expected to remain dominant in the global portable generators market. North America is projected to reach close to US$ 300 million by the end of 2022. North America portable generator market is witnessing a growth, due to increasing number of residents opting for portable generators to keep essential appliances at home working during power cut owing to the bad weather conditions.
Japan portable generators market is expected to experience moderate growth during the forecast period, 2017-2022.
Portable generators with a power output of 1.0 to 3.0 KW are expected to experience above-average growth during the forecast period. Towards the end of 2022, 1.0 to 3.0 KW portable generators are estimated to reach just above US$ 450 million revenues. Meanwhile, 3.0 to 5.0 KW portable generators are expected to gain more than one-fourth of the revenue share by 2017 end.
Residents are expected to emerge as the largest users of portable generators during 2017-2022. By the end of 2017, the residential sector is projected to account for nearly three-fifth of the revenue share on global revenues. Meanwhile, the commercial sector will show moderate growth during the forecast period.
Portable generators offering standby backup power are expected to witness above-average growth. Accounting for more than three-fourth of the revenue share by 2017 end, the standby backup power application is projected to surpass US$ 750 million revenue by the end of 2022.
Report Analysis@ https://www.factmr.com/report/275/portable-generators-market
The report has also profiled leading players in the global market for portable generators, which will remain active through 2022. These include companies such as Briggs & Stratton Corp, Champion Power Equipment, Generac Power Systems, Inc., Honeywell International Inc., Kohler Co. Inc., NIDEC Corp, STEPHILL GENERATORS LTD, and Yamaha Motor Co., Ltd.
About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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