PORTLAND, Oregon and PUNE, India, May 31, 2018 /PRNewswire/ --
According to, a new report by Allied Market Research, titled, "Portable Generators Market by Fuel Type, Power Output, and Application: Global Opportunity and Forecast, 2014-2022", the global portable generators market size was valued at $3,146 million in 2015, and is projected to reach $4,913 million by 2022, growing at a CAGR of 6.6% from 2016 to 2022.
The 3-10 kW generators are on high demand in commercial applications, which include college tailgate events, concerts, live shows, and many others. In addition, major players offer several generators in this product category make it a potential market in power output segment.
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North America was the largest market in portable generators industry for 2015. Owing to growth in need of in-house power backup, Canada and Mexico are expected to grow with a significant growth rate. Other fuel sources including bio-diesel, propane, and other natural gas are on high demand in environment stringent countries, such as UK, Germany, France, U.S., Canada, and others.
Industrial application segment is expected to grow at the highest CAGR during the forecast period, owing to elevated industrial and development projects in the emerging economies, which include China, India, Japan, Russia, Brazil, and South Africa. In several constructions sites which lay beyond regular power supply areas and remote places, requirement of portable power generators are considered vital to power machines and electric tools.
Based on the geography, the portable generators industry is segmented into four major regions, namely, North America, Europe, Asia-Pacific, and LAMEA. North America was the highest revenue contributor in 2014, accounting for around 35.5% share of the overall portable generators market size. The Asia-Pacific market is projected to grow at the highest CAGR of 8.0% during the forecast period, driven by the adoption of diesel fueled portable generators for commercial and industrial applications.
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The report features a competitive scenario of the portable generators industry and provides comprehensive analysis of key growth strategies adopted by major players. Key players profiled in the study are Generac Power Systems, Inc., Cummins Inc., Briggs & Stratton Corporation, Honda Motor Co., Ltd., Caterpillar, Inc., Eaton Corporation Plc, Kohler Co., Yamaha Motor Corporation, Champion Power Equipment, Inc., and Smarter Tools, Inc. All these players are involved in competitive strategies including new product launch, business expansion, and collaboration to augment growth of the global portable generators market.
Key Findings of the Portable Generators Market:
- Diesel segment accounted for the highest share of the portable generators market in 2015, growing at a CAGR of 6.4%.
- North America generated the highest revenue in 2015, valued at $1,109 million.
- Asia-Pacific dominated the market in terms of growth during the forecast period.
- The U.S. was leading in terms of expenditure on portable generators market in 2014. In addition, India, China, and other emerging markets are projected to provide significant opportunities for major players.
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SOURCE Allied Market Research