The "Portable Generator Market by Fuel (Gasoline, Diesel, Natural Gas, Others), 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 2026" report has been added to ResearchAndMarkets.com's offering.
The portable generator market is projected to reach USD 2.5 billion by 2026 from an estimated USD 1.8 billion in 2021, at a CAGR of 6.7% during the forecast period.
Frequent power outages due to weather and aging grids are the main drivers for the portable generator market. Increasing adoption of dual fuel and inverter portable generators are expected to offer lucrative opportunities for the portable generator market during the forecast period. However, limited power generation capacity of portable generators acts as a restraint for the product.
The prime/continuous, by application, is expected to be the fastest-growing market from 2021 to 2026.
The prime/continuous segment is projected to grow at the highest CAGR from 2021-2026. The growth of this segment is driven by increasing demand for reliable power. Prime power generators are accessible for a limited number of hours in non-variable load situations, whereas continuous power generators are used in applications at a constant 100% load for an unlimited number of hours. Prime generators can accommodate varying loads on an unlimited basis throughout the year. However, the average load factor cannot exceed 70% of the prime rating, whereas the average output of a continuous power genset is 70-100% of the rating and is designed to provide 100% power for every operating hour during the year.
The gasoline (petrol) segment, by fuel, is expected to be the largest market from 2021 to 2026.
The report segments the portable generator market, by fuel, into gasoline (petrol), diesel, natural gas, and others. The market for gasoline (petrol) is expected to hold the highest market share during the forecast period. Gasoline portable generators have a major advantage as gasoline fuel stations are available everywhere and are comparatively less expensive if used for running portable generators for a shorter period of time, which is likely to increase their demand in the portable generator market globally. Gasoline portable generators are majorly used for temporary, intermittent, or low-load applications.
Asia Pacific: The fastest growing region in the portable generator market.
Asia Pacific is expected to grow at the highest CAGR during the forecast period. Asia Pacific region has been segmented, by country, into China, India, Japan, South Korea, Australia, and Rest of Asia Pacific. Rest of Asia Pacific includes Indonesia, Singapore, Malaysia, Taiwan, and Thailand. China dominated the portable generator market in Asia Pacific followed by India during the forecast period. According to the Asian Development Bank (ADB), the region's share of global energy consumption is expected to increase to 56% by 2035 from 34% in 2010. The industrial sector in China contributed more than 37% of its GDP in 2020. The growth of the industrial sector has tremendously increased power production and consumption in China. These factors have made China one of the most lucrative markets for the power industry.
In India, Government initiatives such as foreign direct investments in many sectors and the Make in India project are expected to create growth opportunities for the industrial sector. Furthermore, growing population and increasing per capita income are the key drivers behind the growing demand for energy in the Asia Pacific region. All these factors are creating a demand for power in the country, consequently resulting in the demand for portable generators.
Growing Demand for Continuous and Reliable Power Supply During Blackouts
Increasing Instances of Power Outages Owing to Aging Grid Infrastructure and Extreme Weather Conditions
Limited Power Generation Capacity of Portable Generators
Increasing Adoption of Dual Fuel and Inverter Portable Generators
Stringent Government Regulations Pertaining to Emissions from Diesel Engines
Adoption of Energy Storage Technologies Due to Price Drop
Impact of COVID-19 on Portable Generator Market
Revenue Shift & New Revenue Pockets for Portable Generator Manufacturers
Briggs & Stratton
Fujian Epos Electric Machinery
Mesa Natural Gas Solutions
For more information about this report visit https://www.researchandmarkets.com/r/d0kr7c
View source version on businesswire.com: https://www.businesswire.com/news/home/20210419005487/en/
Laura Wood, Senior Press Manager
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