Market Highlights
Portable generators are used
to supply electricity for the operation of small electrical appliances in the
event of a power outage. Rapid increase in the demand-supply gap of electric
power in developing economies is driving the growth of the market. Similarly,
increasing number of live commercial events is fuelling the growth of the
market. The major players in the market are hugely investing in R&D and
coming up with technologically advanced products, which is positively
influencing the growth of the market. However, growing adoption of energy storage
technologies and stringent emission regulations for diesel engines are the
factors that may hamper the growth of the market. The global portable generator
market is expected to grow at 4.15% CAGR during the forecast period.
Industry Overview
Growing demand for data centers
and IT facilities is the major factor driving the portable generator market. A
portable generator is primarily used when temporary power is needed. Growth in
the construction sector across the globe, driving the growth of the market. The
governments across the globe is spending more on physical and social
infrastructure. These generators are used in several construction activities,
which include cutting, drilling, lifting, and others. Moreover, growing demand
for uninterrupted and reliable power supply is fuelling the growth of the
market. Portable generators produce carbon monoxide (CO), which is an odorless,
colorless and very harmful to people. Hence, stringent regulation is set by
various governments on emissions by diesel engines. This factor may act as a
restraining factor for the market.
Competitive Dashboard
The key players of global
Portable Generator market are Honda Motor Co., Ltd (Japan), Briggs &
Stratton Corporation (U.S.), Generac Power Systems, Inc. (U.S.), Yamaha Motor
Corporation (Japan), Caterpillar Inc. (U.S.), Cummins, Inc. (U.S.), Kohler Co.
(U.S.), Eaton Corporation Plc (Ireland), Champion Power Equipment, Inc. (U.S.),
Siemens AG (Germany), MTU Onsite Energy (U.S.), Honeywell International Inc.
(U.S.), Wacker Neuson Group (Germany), SmarterTools Inc. (U.S.), and Atlas
Copco (Sweden).
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Industry Segmentation
Global portable generator
market has been segmented based on fuel type, rated power, application,
end-user, and region. Based on fuel type, the market has been segmented into
diesel, gas, and others. The gasoline segment accounted largest market share in
2016 and is expected to grow at the highest CAGR during the forecast period,
mainly due to gasoline fuels being more compatible with small capacity engines.
Besides compatibility, the availability of fuel and clean operation are also
the key factors for the growth of gasoline portable generators. Furthermore,
stringent environmental norms to control the emission of hazardous gasses from
diesel generators boost the growth of the gasoline portable generators.
Based on end-user, the market
has been segmented into industrial, commercial, and residential. The
residential segment accounted for the largest market share in 2016. Increase in
awareness among consumers regarding in-house power backup is ultimately
increasing the demand for portable generators in the residential sector. The
ease to start and portability are the key factors increasing the popularity of
the portable generators in the residential sector. Portable generators are used
to run necessary appliances, such as lights, refrigerators, and fans. The
industrial segment is estimated to be the fastest growing end-user segment of
the portable generator market. The industrial segment includes power station,
oil & gas, mining, chemical, and manufacturing. The growth of the
industrial sector in Asia Pacific, South America, and the Middle East &
Africa is likely to drive the portable generator market. Oil & gas sector
is one of the major end-users of the portable generator market. This sector
utilizes generators for temporary power requirements in onshore and offshore
fields. Most of the drilling sites and oil rigs are located in remote areas,
where access to grid power is limited or non-existent.
On the basis of region, North
America is the largest market for portable generator. Asia Pacific is expected
to grow at the highest CAGR during the forecast period.
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