Portable Generators Market – Valuable Growth Prospects and Future Insights till 2022 || Key Players - Champion Power Equipment, Briggs & Stratton Corp, Generac Power Systems Inc., Kohler Co. Inc., Honeywell International Inc.
Ensuring uninterrupted supply of electric power, portable generators run on gas or diesel. The portable generators include an engine that turns a small turbine, generating electricity. The key measurement in portable generators is total wattage. Portable generator with higher wattage means more power for higher wattage appliances and tools. Being compact in size, portable generators are mostly used by residents and businesses. Different types of portable generators are available based on applications and needs such as camping generators, mine spec generators, inverter generators, etc.
Players in the portable generators market are offering various types of generators such as diesel generators, gas generators, bi-fuel and tri-fuel generators. However, due to stringent regulations on toxic emissions in various countries, portable generators market players are shifting their focus toward developing gas generators as they are more environmentally friendly than diesel generators. Bi-fuel is also one of the focus areas of companies in the portable generators market, as it leads to significant fuel saving and also offers flexibility to the end user to choose the fuel type. Leading companies in the portable generators market are also investing in research and development of methods and technologies to minimize carbon monoxide emission from portable generators.
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Accounting for more than half of the revenue share by 2017 end, portable generators with 1.0 to 3.0 KW power output are estimated to surpass US$ 400 million revenues by the end of 2022. Meanwhile, portable generators with the power output of 3.0 to 5.0 KW are also expected to witness moderate growth.
Portable generators are expected to be largely used by residential sector. By the end of 2017, the residential sector is projected to account for nearly three-fifth of the revenue share of portable generators market. Meanwhile, portable generators in the commercial sector are estimated to create an opportunity of more than US$ 40 million between 2017 and 2022.
Standby Backup Power Portable Generators to Account for Maximum Revenue Share
Standby backup power portable generators are estimated to exceed US$ 750 million revenues towards the end of 2022. By the end of 2017, it is projected to gain more than three-fourth of the revenue share of portable generators market.
The report also profiles companies that are expected to remain active in the expansion of global portable generators market through 2022, which include Champion Power Equipment, Briggs & Stratton Corp, Generac Power Systems, Inc., Kohler Co. Inc., Honeywell International Inc., NIDEC Corp, Yamaha Motor Co., Ltd, and STEPHILL GENERATORS LTD.
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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.
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