Portable Generator Market to grow at a good CAGR between 2019 and 2024Market- Forecasts From 2019 to 2024” studies the various factors affecting the demand for portable generators across the globe. The report has been segmented by power rating (less than 5 kW, 5-10 kW, more than 10 kW), application (emergency, continuous), fuel (gasoline, natural gas, diesel, others), and end user (commercial, industrial, residential).
Growing cases of power outage due to unfavourable climatic conditions is one of the major drivers of the portable generator market. Rising demand for uninterrupted and reliable power supply across different regions is also fuelling the growth of the portable generator market. Increase in the number of retail and commercial outlets is further driving the demand for portable generators, thus positively impacting the market growth. Growing awareness about low-cost portable generators across the residential sector will continue to bolster the growth of the portable generator market during the forecast period.
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Commercial segment holds significant market share
The commercial segment accounted for a significant market share in 2018 as restaurants, grocery stores, and gas stations are increasingly using portable generators in case of power outage due to any natural calamity. The use of reliable and efficient portable generators allows businesses to save time, money, and aggravation, thus positively impacting the growth of commercial portable generator market.
APAC witnessing the fastest regional market growth
Geographically, Portable Generator market is segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific (APAC). APAC will witness significant CAGR growth during the projected period on account of the rapid rise in electricity demand and rising cases of power outages in different APAC countries. Growing building and construction activities in countries like India and China due to supportive government initiatives is also escalating the demand for portable generators across this region.
This report also includes a study of strategies and product portfolios of some of the leading companies in the portable generator market. It consists of company profiles of the leading companies- Generac Power Systems, Inc., Briggs & Stratton, Caterpillar, Yamaha Motor Co., Ltd., Smarter Tools, Inc., Eaton, Kohler Co., Champion Power Equipment, Atlas Copco, WINCO, and Mase Generators spa.
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