The global Portable Generators market size is projected to reach USD 4359.7 Million by 2026, from USD 2872.7 Million in 2020, at a CAGR of 7.2% during 2021-2026.
Major factors driving the growth of Portable Generators market size are the increasing number of weather-related power outages and the growing demand for uninterrupted and reliable power supply in developed and developing nations. In addition, the high demand for portable generators in countries such as the US, Mexico, and Puerto Rico is also expected to fuel the portable generator market size.
This report focuses on Portable Generators' volume and value at the global, regional, and company levels. This report represents the overall Portable Generators market size by analyzing historical data and future prospects from a global perspective. Regionally, this report focuses on several key regions: North America, Europe, Japan, China, Southeast Asia, India, etc.
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Trends Influencing The Portable Generators Market Size
Natural gas-fueled generators are gaining momentum with the development of strict environmental regulations to regulate the embossing of hazardous gas from diesel generators in developed regions. In addition, many developing nations, such as India, Singapore, and Russia, use natural energy sources in generators, thus providing a lucrative growth opportunity for the portable generator market.
Portable generators are primarily used for small and medium-sized loads, including domestic appliances and industrial equipment, such as air compressors, drills, vibrators, and agricultural applications. The growing number of weather-related power outages creates problems for small and medium-sized enterprises, which are considered to be the key drivers for the growth of portable generator market size.
Increased adoption of portable generators in the rapidly growing construction industry is fueling the portable generators market size. Power tools, such as drills, drives, compressors, and air hammers, are commonly used in the construction industry. Portable generators are primarily used for new construction projects, where much of the work is carried out at night and in conditions where electricity from power grids is not available.
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PORTABLE GENERATORS MARKET SHARE ANALYSIS
Based on the region, North America is expected to hold the largest portable generators market share during the forecast period. North America's dominance in the portable generator market is attributed to the increased need for power backup facilities, rising demand for low-cost and diesel-fueled generators, growing preference for natural gas-fueled generators in the region.
The Asia Pacific is projected to be the fastest-growing market for portable generators. The Asia Pacific is home to two of the fastest-growing economies – India and China. The construction industry is on the rise in India and China due to current government initiatives such as smart cities and green building initiatives, which are expected to drive the growth of portable generators market size during the forecast period.
Based on type, the Gasoline segment is expected to hold the largest portable generators market share during the forecast period. Gasoline portable generators have advantages such as availability of fuel stations and low-cost when compared to Gas type. They are relatively cheaper when used for a shorter time to power portable generators, which is likely to increase their demand.
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Segment by Type
- Diesel Type
- Gasoline Type
- Gas Type.
Segment by Application
- Commercial
- Residential
Segment by Region
The report offers in-depth assessment of the growth and other aspects of the Portable Generators market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
Key Players
The major players in the market include Briggs & Stratton, Honda Power, Generac, Yamaha, KOHLER, Techtronic Industries, Eaton, Champion, Scott's, Wacker Neuson, Honeywell, Hyundai Power, Sawafuji, Pramac, HGI, Perkins, Mi-T-M, Winco, etc.
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