Acumen Research and Consulting, Recently Published Report On “Mobile Generators Market Size, Share, Growth Opportunity, Sales and Forecast, 2019 - 2026”
LOS ANGELES, Dec. 04, 2019 (GLOBE NEWSWIRE) -- The global mobile generators market is expected to reach around US$ 1,723 million by 2026 and is expected to register a CAGR of above 4% over the forecast period 2019 to 2026.
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Mobile generators are the alternate power source that provides a dependable gaseous and diesel power solution in remote construction sites and public events. This equipment assists in completing the construction process faster and easier. They are built to withstand harsh environment and provide a long run power supply during the prime time and also for standby applications. They are used for variety of industrial and commercial applications.
The global mobile generator market in bifurcated into vehicle type and region.
In 2018, the regional share contribution of North America segment is expected to be high, owing to increasing construction and reconstruction activities, along with availability of alternative power source in order to carry out work during the night. In addition, rapid technological advancements in mechanical industry, rising demand from hospitals and event management firms for low cost-diesel generators in order to support the activities or event during power cuts are some factors expected to support the growth of the target market in this region.
The regional segment of the global market is further divided into North America, Europe, Asia Pacific, Latin America and Middle East.
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The market in Asia Pacific is anticipated to witness noticeable growth in terms of revenue in the next few years, owing to rising industrial development activities due to low cost labor and easy availability of raw material. According to Brand Equity Foundation, in 2018, 9,829 km of highways were constructed in India. In addition, increasing infrastructure growth activities in developing countries such as India and China, and rising projects related to housing and highway expansion is expected to create demand for mobile generators that support the work during night hours in outskirts of the city is expected to further support the market growth in this region.
Rapid industrialization in developed and developing countries and rising demand for mobile generators from various industrial verticals are factors expected to drive the growth the global mobile generators market. In addition, increasing construction and reconstruction activities in developing countries and contractors approach towards adoption of alternate power source in order to carry out the work are among other factors supporting the growth of the target market.
Moreover, increasing demand from hospitals for mobile generators in case of any emergency or during the power cut is expected to drive the market growth. In addition, infrastructure development activities in rural areas are increasing and portable generator serves as power source during the absence of power grid which is expected to further augment the demand for mobile generator.
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However, high cost of product and stringent government regulations related to carbon emission are factors expected to hamper the growth of the global mobile generators market.
Manufacturers approach towards development of advanced products that consume low fuel and provide high output is expected to create new revenue opportunities for players operating in the target market over the forecast period. In addition, strategic business expansion activities in order to increase customer base and enhance product portfolio is another factor expected to support the revenue growth of the global market.
The target market is segmented into product and end use. The product segment is further bifurcated into gasoline generator, diesel generator, and gas generator. The diesel generator segment accounts for the high revenue share in 2018 as compared to other segments. This can be attributed to easy availability of diesel and high service life as compare to other products.
Players operating in the global mobile generators market are Briggs and Stratton, Honda Power, Generac, Techtronic Industries, Kohler, Yamaha, Champion, Cummins, Honeywell International, Eaton, and Mi-T-M. The market players are introducing new innovative products in order to attract more customer base and enhance product portfolio.
The global mobile generators market was valued at around US$ 1,199 Mn in 2018. Among the product type segment the diesel generator is expected to contribute significant revenue shares in the market globally.
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