The portable generator market is estimated to reach USD 1.91 billion in 2017, which is projected to reach USD 2.28 billion by 2022, at a CAGR of 3.66% from 2017 to 2022
NEW YORK, Jan. 18, 2018 /PRNewswire/ -- The portable generator market is projected to grow at a CAGR of 3.66% from 2017 to 2022
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The portable generator market is estimated to reach USD 1.91 billion in 2017, which is projected to reach USD 2.28 billion by 2022, at a CAGR of 3.66% from 2017 to 2022. The increase in demand for uninterrupted and reliable power supply and business continuity during natural calamities are the driving factors for the portable generator market.
Developing nations are increasing the investments for infrastructure developments for an economic boost. The growth in the industrial sector and manufacturing sectors requires a continuous and reliable power supply. Thus, the growing need for uninterrupted power supply is expected to drive the portable generator market during the forecast period.
The increasing adoption of energy storage technologies and the growing demand for fuel cell generators can act as restraints for the portable generator market
The prime/continuous segment is expected to grow at the highest CAGR from 2017 to 2022
Prime/continuous portable generators are expected to constitute the highest growing market, accounting the maximum share of the market. Growing investments and developments in the construction sector require an uninterrupted power supply for operations
The natural gas fuel segment is expected to be the largest segment during the forecast period
The natural gas fuel segment is projected to be the largest segment during the forecast period. As natural gas is considered as the cleanest burning fuel and can be stored for longer periods, natural gas portable generators have less operational costs and are mostly used for residential purposes during frequent blackouts or in an area prone to natural disaster.
The easy availability of natural gas fuels and other advantages are likely to increase the demand for portable generators
Asia Pacific is expected to grow at the highest CAGR from 2017 to 2022
The Asia Pacific region is currently the largest market for portable generators, followed by North America and the Middle East and Africa. China accounted for the maximum share in Asia Pacific in 2016 and is projected to grow at the highest CAGR from 2017 to 2022. The increase in demand for portable generators in Asia Pacific is due to the demand for uninterrupted and reliable power supply in the region. The growing investments for infrastructure development are likely to attribute the growth of the portable generator market.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.
The distribution of primary interviews is as follows:
By Company Type: Tier 1- 50%, Tier 2- 32%, Tier 3- 18%
By Designation: C-Level- 40%, Manager Level- 30%, Others- 30%
By Region: North America-35%, Asia Pacific- 24%, Europe-21%, Middle East and Africa-11%, South America-9%
Note: The tier of the companies has been defined based on their total revenue, as of 2016: Tier 1 = >USD 5 billion, Tier 2 = > USD 0.5 billion to USD 1 billion, and Tier 3 =
Source: Industry Experts and MarketsandMarkets Analysis
Leading players in this industry have been profiled with their recent developments and other strategic activities. These include Honda (Japan), Briggs & Stratton (US), Kohler (US), and Generac (US), among others.
Research Coverage:
From an insight perspective, this research report has focused on various levels of analysis, namely industry analysis (industry trends), market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the portable generator market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on products and integrated solutions and services offered by the top players in the global portable generator market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the portable generator market.
• Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for portable generators across regions
• Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global portable generator market
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