Press release
How Portable Generator Market will Grow at Highest CAGR
Portable Generator Market
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As per the report, North America was leading the global portable generator market in 2017. North America held a significant share in the global market in 2017. The region is anticipated to witness impressive growth during the forecast period 2018-2025, owing to increasing industrialization in nations such as the U.S. and Canada. However, the portable generator market in Asia Pacific is anticipated to increase at a relatively higher CAGR. Growth witnessed is attributable to the presence of some of the fastest-growing economies such as India, Indonesia, and China. Additionally, in a lot of nations, there is a lack of proper infrastructure. This provides ample opportunities for the growth of the portable generator market in emerging nations.
“Himoinsa in Collaboration with Chengdu to Strengthen its Market Position”
Key players operating in the global portable generator market are collaborating and partnering with other players to gain a higher share in the market. For instance, Himoinsa collaborated with a local distributor Chengdu Transcend Power in 2019 to install 31 diesel-powered generators at the Xiaomo highway. The project was implemented by China’s public and road infrastructure industry. Such initiatives are anticipated to enable growth in the global portable generator market. Some of the key companies operating in the global market are Honda Motor Co. Ltd., Cummins Inc., Atlas Copco, Caterpillar Inc., Kohler SDMO., Aggreko, FG Wilson, Generac Power Systems, Briggs and Stratton, Himoinsa S.L., Kirloskar Electric Co. Ltd., Manlift Group, and Yamaha.
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The number of offshore activities being conducted in the Middle East and Africa is very high. However, the supply of electricity is not as satisfactory in certain areas of the region. This is anticipated to enable growth and increase demand for a portable generator in the region. Besides this, government initiative such as the launch of a smart city program is anticipated to fuel the demand for a 24/7 electricity supply and further enable growth in the global market.
“Key market players are likely to focus more on undeveloped and developing nations to capitalize on their unmet needs. The need and demand for electricity in such nations is very high. This is anticipated to increase the demand for a portable generator.” Said a lead analyst at Fortune Business Insights.
“Rising Investment towards Improving Infrastructure to Enable Growth in the Global Market”
Some of the factors expected to drive the global portable generator market during the forecast period 2018-2025 are the lack of proper infrastructure and lack of availability of electricity in a lot of areas. Additionally, the rising standard of living and increasing construction activities is anticipated to fuel the demand in the global market.
On the contrary, a high amount of pollution emission from a portable generator and high prices of fuel to power the generator are a few factors that may restrain the global portable generator market. Moreover, the introduction of inverter and batteries is replacing the conventional generator and may hamper the growth in the global market.
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Governments have implemented stringent emission control policies to curb pollution. Such as European Emission Standards used in new non-road machinery are structured in a rigid manner to gain strong control over pollution. This may slow the growth rate in the global portable generator market.
Contact:
Name: Ashwin Arora
Email: sales@fortunebusinessinsights.com
Phone: US +1 424 253 0390 / UK +44 2071 939123 / APAC: +91 744 740 1245
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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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