The global portable generators market is projected to expand at a healthy CAGR over the forecast period. Portable generators are designed to provide Alternate Current (AC) power for stand-alone and non-hardwired applications. Power outage is expected to be the most significant growth-driving factor for the industry over the next nine years. Power outages can cause damage in electrical equipment and machinery. Industrial sectors are more prone to planned outages than unplanned ones. Halt in industrial activities and routine maintenance can lead to loss in productivity and increase idle time of machines. This, in turn, is projected to boost the product demand. Rapid commercial and industrial infrastructure development is also anticipated to drive the global market.
In addition, rapidly growing small- and medium-sized industries in various sectors around the globe is expected to drive the market further. The need for regular supply of electricity for efficient business operations is likely to result in market growth over the next few years. Rapid urbanization and demand for power along with a rising frequency of power grid failures have resulted in an increased adoption of portable generators over the past few years. Its usage in the residential application has witnessed a fast growth. These generators are also used in the construction sites for operating saws, power tools, and drills. On the other hand, the product is characterized by critical disadvantages, such as high levels of carbon monoxide emissions, which can hamper the industry growth.
As per the survey conducted by the U.S. Consumer Product Safety Commission (CPSC), operating portable generators in enclosed and partially-closed spaces is very dangerous and has resulted in many deaths over the past few years. Thus, the industry is highly regulated wherein the manufacturing and installation techniques have been documented by institutes, such as the National Institute of Standards and Technology (NIST). The global market is segmented on the basis of energy source, power rating, and applications. On the basis of energy source, the market can be divided into gas, gasoline, and diesel. Among these sources, gasoline is anticipated to be the leading segment over the next few years. However, it faces stiff competition from UPS systems that offer seamless power supply in case of outage.
Battery-based energy storage systems supply power for few hours as compared to fuel-based generators. Technological breakthrough needed for battery systems to provide equivalent power supply is expected to raise the overall costs of these systems. Hence, generators are cost-effective power solution for residential, as well as commercial, sectors. Different categories of portable generators are available on the basis of load requirements. By power rating, the market can be categorized into up to 5 kW, 5 kW – 10 kW, 10 kW – 15 kW, and above 15 kW. On the basis of applications, the market can be segmented into residential, commercial, and industrial applications.
10 kW – 15 kW generators find maximum demand from the commercial and residential applications, as they are an economical option for these sectors. Portable generators with power rating above 15 kW are primarily used in construction activities and other large-scale end-use applications. Geographically, Asia Pacific is anticipated to be the largest regional market for portable generators. Rapid infrastructure development across various countries including China, India, Singapore, and South Korea is the major factor augmenting the region’s growth. The global portable generators market is highly consolidated with few industry participants holding major market share. Some of the key companies include Siemens AG; Kohler Co.; Wacker Neuson SE; Caterpillar, Inc.; and Atlas Copco.
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