Press release
Portable Generator Market Overview and Global Industry Analysis by Top Leading companies- Honda Motor Co., Ltd, Briggs & Stratton Corporation, Generac Power Systems, Inc., Caterpillar Inc.
Market Highlights
Portable generators are used to supply electricity for the operation of small electrical appliances in the event of a power outage. Rapid increase in the demand-supply gap of electric power in developing economies is driving the growth of the market. Similarly, increasing number of live commercial events is fuelling the growth of the market. The major players in the market are hugely investing in R&D and coming up with technologically advanced products, which is positively influencing the growth of the market. However, growing adoption of energy storage technologies and stringent emission regulations for diesel engines are the factors that may hamper the growth of the market.
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Global Portable Generator market is expected to grow at 4.15% CAGR during the forecast period.
Market Research Analysis
Global portable generator market has been segmented based on fuel type, rated power, application, end-user, and region. Based on fuel type, the market has been segmented into diesel, gas, and others. The gasoline segment accounted largest market share in 2016 and is expected to grow at the highest CAGR during the forecast period, mainly due to gasoline fuels being more compatible with small capacity engines. Besides compatibility, the availability of fuel and clean operation are also the key factors for the growth of gasoline portable generators. Furthermore, stringent environmental norms to control the emission of hazardous gasses from diesel generators boost the growth of the gasoline portable generators.
Based on end-user, the market has been segmented into industrial, commercial, and residential. The residential segment accounted for the largest market share in 2016. Increase in awareness among consumers regarding in-house power backup is ultimately increasing the demand for portable generators in the residential sector. The ease to start and portability are the key factors increasing the popularity of the portable generators in the residential sector. Portable generators are used to run necessary appliances, such as lights, refrigerators, and fans. The industrial segment is estimated to be the fastest growing end-user segment of the portable generator market. The industrial segment includes power station, oil & gas, mining, chemical, and manufacturing. The growth of the industrial sector in Asia Pacific, South America, and the Middle East & Africa is likely to drive the portable generator market. Oil & gas sector is one of the major end-users of the portable generator market. This sector utilizes generators for temporary power requirements in onshore and offshore fields. Most of the drilling sites and oil rigs are located in remote areas, where access to grid power is limited or non-existent.
On the basis of region, North America is the largest market for portable generator. Asia Pacific is expected to grow at the highest CAGR during the forecast period.
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Key Players
The key players in the global portable generator market are Honda Motor Co., Ltd (Japan), Briggs & Stratton Corporation (U.S.), Generac Power Systems, Inc. (U.S.), Yamaha Motor Corporation (Japan), Caterpillar Inc. (U.S.), Cummins, Inc. (U.S.), Kohler Co. (U.S.), Eaton Corporation Plc (Ireland), Champion Power Equipment, Inc. (U.S.), Siemens AG (Germany), MTU Onsite Energy (U.S.), Honeywell International Inc. (U.S.), Wacker Neuson Group (Germany), SmarterTools Inc. (U.S.), and Atlas Copco (Sweden).
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