The global portable generator market to reach US$ 6.7 Billion by 2027, exhibiting a CAGR of 6.49% during 2022-2027.
SHERIDAN, WYOMING, UNITED STATES, July 1, 2022 /EINPresswire.com/ — The global portable generator market size reached US$ 4.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 6.7 Billion by 2027, exhibiting a CAGR of 6.49% during 2022-2027.
Year Considered to Estimate the Market Size:
Base Year of the Analysis: 2021
Historical Period: 2016-2021
Forecast Period: 2022-2027
What is Portable Generator ?
A portable generator is an engine-driven generator that provides alternating current (AC) for non-hardwired and standalone applications. It consists of various components, such as a fuel tank, alternator, starter, and internal combustion engine, which are mounted together in an electric generation unit. The portable generator can be moved from one place to another if required. It provides electricity for temporary purposes and in situations of emergency power outages. It is generally powered by gas or diesel and can directly power electrical appliances like freezers, televisions, and refrigerators.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Portable Generator Market Trends:
The global portable generator market is primarily driven by the expanding construction industry. Portable generators are used to operate power tools, including drills, drives, compressors, and air hammers. They are also employed in new construction projects to ensure an uninterrupted power supply due to the increasing population and the lack of dependable grid infrastructure worldwide. Besides this, frequent occurrences of power outages have led to the adoption of standby power sources that meet the requirements of reliable and regular electricity supply. Furthermore, the increasing environmental concerns have resulted in the introduction of portable generators that can be powered by biofuels and other sustainable energy sources. Market players are also introducing variants with improved flexibility, high cost-efficiency, easy installation process, and enhanced durability.
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On the basis of the fuel type, the market has been classified into portable gas generators, portable diesel generators, and others. Among these, portable diesel generators represent the most preferred fuel type.
Based on the application, the market has been segregated into the residential, commercial, industrial, and infrastructure sectors. Currently, the residential sector holds the largest market share.
On the basis of the power output, portable generators with less than 3 kW output account for the majority of the overall market share. Other segments include 3-10kW and more than 10kW.
Region-wise, the market has been divided into Asia Pacific, North America, Middle East and Africa, Europe, and Latin America. Amongst these, Asia Pacific holds the leading position in the market.
Top key players of the portable generator market
The competitive landscape of the market has been examined, with some of the key players being Cummins Inc., Eaton Corporation PLC, Briggs & Stratton Corporation, Generac Power Systems, Inc., and Honda Motor Co., Ltd.
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