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Portable Generator Market to Register 5.4% CAGR till 2026; Growing Energy Demand in Developing Countries to Boost the Market

March 25, 2020 | Energy & Power

The global portable generator market size is set to touch USD 5.87 billion by 2026 as countries strengthen their grid infrastructure to meet national power demands. This information is contained in the recent Fortune Business Insights™ report, titled “Portable Generator Market Size, Share and Global Trend by Fuel (Diesel, Gas, and Others), Power Rating (Below 5kVA, 5-15kVA, 15-45kVA, 45-75kVA), By Application (Residential, Commercial, and Others), and Regional Forecast, 2019 to 2026”. The report further states that the value of this market stood at USD 3.88 billion in 2018 and is expected to exhibit a CAGR of 5.4% from 2019 to 2026.


HIMOINSA Establishes New Subsidiary in Australia, Deepens Its Presence in APAC


In December 2019, HIMOINSA, a leading genset manufacturer, announced that it would be setting up its 13th global subsidiary through a definitive partnership with the Australia-based company Generator Power. HIMOINSA established the new unit with the intent to capture the flourishing mining, hospitality, and service sectors in Australia. The most promising sector, as per the company’s analysis, will be mining as the global demand for iron ore has escalated in the past few years. Combined, these sectors have propelled Australia’s position in the APAC region and HIMOINSA hopes to ride this wave. Thus, operational expansion with a view to strengthen global foothold is likely to emerge as one of the leading portable generator market trends.


To Get the detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/portable-generator-market-100155


Increasing Urbanization Worldwide to Favor Market Expansion


Rural to urban migration is occurring at a furious pace in emerging economies, accelerating the pace of urbanization in these countries. As per the UN Department of Economic and Social Affairs (DESA) estimates, 68% of the world’s population will be living in urban areas by 2050; presently, 55% of the global population is housed in urban areas. More importantly, Asia and Africa will account for roughly 90% of this rise. According to the DESA, urban dwellers in China, Nigeria, and India will be numbered at 255 million, 189 million, and 416 million, respectively, by 2050. Urban areas in developing nations typically have high power demands and also require uninterrupted and efficient power supply to function smoothly and productively. This bodes well for the portable generator market outlook as the uptake of these machines is likely to skyrocket in these countries in the near future.


Growth in Manufacturing Sector to Open New Opportunities for Market Players


Key players in this market are slated make long-term gains as the global manufacturing sector is displaying steady growth, according to the portable generator market report. Manufacturing units require stable and reliable power supply and small and medium enterprises (SMEs) are increasingly inclining towards portable gensets to fulfill their power needs. Many major companies in this market are innovating and collaborating to cater to this burgeoning market, the portable genset market analysis states.


Industry Development:



  • January 2017: Briggs & Stratton Corporation launched the Elite Series Portable Generator, the first Bluetooth-enabled portable generator in the market. Powered by the StatStation® Wireless, the generator packs 8000 Watts of power and is available for purchase on Amazon and HomeDepot.


List of Prominent Players Profiled in the Report:



  • PRAMAC (Italy)

  • Champion Power Equipment (United States)

  •  Yamaha Motor Corporation, USA (United States)

  • Aggreko (United Kingdom)

  • Kohler-SDMO (France)

  • Kirloskar Electric Co. Ltd (India)

  •  Himoinsa (Spain)

  • Cummins Inc. (United States)

  • Wacker Neuson (Germany)

  • John Deere (United States)

  • Manlift Group (United Arab Emirates)

  •  Briggs & Stratton (United States)

  • American Honda Motor Company, Inc. (United States)

  • Ingersoll Rand (Ireland)

  • Atlas Copco (Sweden)


Further Report Findings:



  • The market size in Asia-Pacific stood at USD 1.33 billion in 2018 and the region is anticipated to lead the portable generator market share in the forthcoming years. Promising economic development in India and China will drive the market in the region as these countries are investing in their energy and power sectors.

  • In the Middle East and Africa, the portable generator market growth is premised on high utilization of portable generators in the Gulf countries for continuous power supply for oil and gas extraction and production operations.

  • By application, the residential segment is expected to dominate the market share on account of increasing intensity of urbanization across the globe. Furthermore, the segment held a share of 71.3% in 2018 and is slated to continue its dominance during the forecast period.  


Table of Segmentation:














































SEGMENTATION


  DETAILS

Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD Billion)



By Fuel




  • Diesel

  • Gas

  • Others



By Power Rating




  • Below 5KVA

  • 5-15kVA

  • 15-45kVA

  • 45-75kVA



By Application




  • Residential

  • Commercial

  • Others



By Region




  • North America (U.S. and Canada)

  • Europe (UK, Germany, France, Italy, Russia, and Rest of Europe)

  • Asia-Pacific (China, India, Japan, Australia, Southeast Asia, and Rest of Asia-Pacific)

  • Middle East & Africa (GCC, South Africa, and Rest of the Middle East & Africa)

  • Latin America (Brazil, Mexico, and Rest of Latin America)


Portable Generator Market
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  • 2015-2017
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