Portable Generators Market Forecast, Trend Analysis & Competition Tracking – Global Review 2017 to 2022
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Portable generator manufacturers 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, manufacturers are shifting their focus on developing gas generators as they are more environmentally friendly than diesel generators. Bi-fuel is also one of the focus areas of portable generator manufacturers, as it leads to significant fuel saving and also offers flexibility to the end user to choose the fuel type. Manufacturers are also investing in research and development of methods and technologies to minimize carbon monoxide emission from portable generators.
According to a study by Fact.MR, the global portable generators market is expected to experience above-average growth, reaching US$ 797.2 million revenues between 2017 and 2022. Portable generator manufacturers are focusing on providing eco-friendly portable generators to the users. Meanwhile, increasing number of residents and businesses are using portable generators owing to the need of power supply in emergency situations and during power cut due to harsh weather conditions.
Portable Generators with 1.0 to 3.0 KW power output to Experience Above-Average Growth
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.
Residential Portable Generators to Witness Maximum Usage
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. 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.
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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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