Portable Generators Market to reach $7.4 billion by 2026, says Global Market Insights, Inc.
Portable Generators Industry is set to register around 7% CAGR between 2020 and 2026, owing to escalating demand for power supply driven by surging population growth.
SELBYVILLE, Del., October 19, 2020 (Newswire.com) - Global portable generators market revenue is projected to cross $7.4 billion by 2026, as reported in the latest study by Global Market Insights, Inc. Rising consumer awareness toward smart technical updates and emergency preparedness along with surging electricity consumption is set to drive the product deployment over the forecast timeframe. Shifting industry focus toward systems integrated with high-end technology coupled with government initiatives comprising adoption energy efficient units will enhance market growth.
Conventional portable generators accounted for over 65% of the global market share in 2019. These units are primarily deployed for emergency power backup in residential flats, small-scale construction industries and recreational activities to provide continuous power during brownouts, weather-related calamities or other grid failures. Availability of fuel options, small surface footprint, quick response times to blackouts and cost efficiency are some of the salient features strengthening the product demand.
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< 20 kW diesel units will witness growth on account of rising deployment across off-grid military and healthcare establishments as a result of escalated medical tourism. Surging demand for electricity from residential spaces owing to heightened dependency on electrical appliances is further set to propagate the business scenario.
Some major findings of the portable generators market report include:
- Escalated power demand driven by growing population and urbanization rate will fuel the industry statistics.
- Surging requirement for portable units owing to its ability to facilitate continuous and reliable power supply.
- Introduction of strict energy efficiency norms will encourage the inverter portable generators demand.
- Eminent players operating across the portable generators market include Honda, Yamaha, Cummins, Generac and Atlas Copco.
- Rising living standards driven by increased disposable income will augment the industry landscape.
Browse key industry insights spread across 550 pages with 1,193 market data tables & 39 figures & charts from the report, “Portable Generators Market Forecasts By Fuel & Power Rating (Diesel {<20 kW, 20-50 kW, >50-100 kW}, Gasoline {<2 kW, 2-5 kW, 6-8 kW, >8-15 kW}, Others), Products (Conventional Portable Generator, Inverter Portable Generator), Phase (Single Phase, Three Phase), End-Use (Residential, Commercial, Construction), Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/portable-generators-market
For Latin America, the Brazil portable generators market is anticipated to grow on account of increasing cases of Covid-19 infected people followed by surging necessity to cater to the electricity demand from healthcare establishments. Escalating power demand in conjunction with the unavailability of 24*7 electricity supply coupled with rising awareness toward the availability of backup emergency units will further propel the industry trends.
The Middle East portable gensets industry is projected to grow on account of easy availability of diesel & gasoline driven by large scale adoption of O&G exploration and CGD projects. A recent drop in oil prices has led the respective authorities to focus on reducing their dependency on oil. However, favorable government initiatives including Saudi Arabia Vision 2030, following which the nation aims to develop public sectors including health, infrastructure, education, recreation and tourism, are set to fuel the portable generator business landscape.
Major industry participants are focusing on product differentiation driven by aesthetics, technological upgradations and competitive product pricing. Ongoing R&D investments along with technological collaborations by prime market participants is set to positively influence the industry potential. Further, manufacturers are adopting strategies comprising capacity expansions, new product launches and backward & forward integration to maintain competitive advantage.
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Browse Related Report:
Generator Sets Market By Fuel (Diesel, Gas, Hybrid), Power Rating (<75 kVA, 75-375 kVA, 375-750 kVA, >750 kVA), End-Use (Residential, Commercial {Telecom, Healthcare, Data Centers, Educational Institutions, Government Centers, Hospitality, Retail Sales, Agriculture, Aquaculture), Industrial {Oil & Gas, Manufacturing, Construction, Electric Utilities, Mining, Transport & Logistics), Application (Standby, Peak Shaving, Prime/Continuous), Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2030
https://www.gminsights.com/industry-analysis/generator-sets-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Source: Global Market Insights, Inc.
