Dublin, Dec. 19, 2019 (GLOBE NEWSWIRE) -- The "Portable Generator Market by Fuel (Gasoline, Diesel, Gas), Application (Emergency, Prime/Continuous), Power Rating (below 5 kW, 5-10 kW, 10-20 kW), End-User (Residential, Commercial, Industrial), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global portable generator market size is estimated to be USD 2 billion in 2019 and projected to reach USD 2.5 billion by 2024, at a CAGR of 4.1% from 2019 to 2024.
The increasing demand for uninterrupted and reliable power supply and business continuity during natural calamities are the driving factors for the growth of the portable generator industry.
Developing nations are increasing the investments for infrastructure developments for an economic boost. The industrial and manufacturing sectors require a continuous and reliable power supply, and the growth of these sectors is expected to shape the future dynamics. Thus, the growing need for an uninterrupted power supply is expected to drive the portable generator market during the forecast period. The increasing adoption of energy storage technologies and the rising demand for fuel cell generators can act as restraints for the market development.
The portable generator market is dominated by a few major players that have an extensive regional presence. The leading players include the Honda (Japan), Briggs & Stratton (US), Atlas Copco (Sweden), Generac (US), and Yamaha (Japan).
The prime/continuous segment is projected to dominate the portable generator market during the forecast period
Prime/continuous portable generators are expected to constitute the highest growing market, accounting for the maximum share. Increasing investments and developments in the construction sector require an uninterrupted power supply for operations.
The residential segment is projected to dominate the portable generator market during the forecast period
Portable generators are used in residences for running a range of appliances, such as lights, refrigerators, sump pumps, heaters, TVs, water purifiers, and air-conditioners in emergencies. The number of blackouts in countries such as the US and Mexico is very high. For instance, in September 2017, 1.5 million people were affected in Puerto Rico due to electricity loss caused by Hurricane Maria. There is a need for continuous power supply in emergencies, which is expected to boost the demand for portable generators in the residential segment.
Asia Pacific is expected to grow at the highest CAGR from 2019 to 2024
The Asia Pacific region is currently the largest market for portable generators, followed by North America and the Middle East & Africa. China accounted for the maximum share in Asia Pacific in 2018 and is projected to grow at the highest CAGR from 2019 to 2024.
The increase in demand for portable generators in Asia Pacific is due to the tremendous need for uninterrupted and reliable power supply. The growing investments for infrastructure development are likely to contribute to the growth of the portable generator market.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1. Market Dynamics
6 Portable Generator Market, By End-User (USD Million - 2017, 2018, 2019-E, 2024-F)
7 Portable Generator Market, By Power Rating (USD Million - 2017, 2018, 2019-E, 2024-F)
7.2. Less Than 5 kW
7.3. 5 kW-10 kW
7.4. 10 kW-20 kW
8 Portable Generator Market, By Fuel (USD Million - 2017, 2018, 2019-E, 2024-F)
8.2. Gasoline (Petrol)
8.4. Natural Gas
8.5. Other (Propane, Lpg, and Biodiesel)
9 Portable Generator Market, Application (USD Million - 2017, 2018, 2019-E, 2024-F)
10 Portable Generator Market, By Region (USD Million - 2017, 2018, 2019-E, 2024-F)
10.2. North America
10.3. Asia Pacific
10.4. South America
10.6. Middle East & Africa
11 Competitive Landscape
11.2. Market Share Analysis
11.3. Competitive Scenario
11.4. Competitive Leadership Mapping
12 Company Profiles
12.1. Briggs & Straton
12.1.1. Business Overview
12.1.2. Products Offered
12.1.3. Recent Developments
12.9. Atlas Copco
12.13. Wacker Neuson
12.17. Pulsar Products
12.19. Wen Products
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