CHICAGO, May 27, 2022 (GLOBE NEWSWIRE) – According to a new market research report released by MarketsandMarkets™, “portable generator market By Fuel (Petrol, Diesel, Natural Gas, etc.), Application (Emergency, Main/Continuous), Power Rating (<5 kW, 5-10 kW, 10-20 kW), End User (Residential, commercial, industrial), and region - global outlook to 2026", is expected to reach $2.5 billion by 2026 from an estimated $1.8 billion in 2021, at a compound annual growth rate of 6.7% over the forecast period. Increasing incidences of power outages due to aging network infrastructure and extreme weather conditions are the main factors driving the growth of the portable generator market. Increased adoption of dual fuel and inverter portable generators is expected to provide profitable opportunities for portable generator market during the forecast period.
The Asia Pacific region is expected to grow at the highest compound annual growth rate (CAGR) during the forecast period. The Asia Pacific region has been divided, by country, into China, India, Japan, South Korea, Australia, and the rest of Asia Pacific. The rest of the Asia Pacific countries include Indonesia, Singapore, Malaysia, Taiwan and Thailand. The region is the most densely populated region in the world and is expected to become the largest energy consuming region globally. It includes many developing countries and requires more energy for its development. 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. China’s industrial sector has contributed more than 37% of GDP in 2020. Growth From the industrial sector has greatly increased energy production and consumption in China. These factors have made China one of the most lucrative markets for the energy industry. Thus, the increase in power demand is likely to provide growth opportunities for the portable generator market during the forecast period.
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Portable Generators Market, by Application, is segmented into Emergency and Main/Continuous. The emergency segment, as per application, is expected to hold the highest market share during the forecast period. The growth of this sector is attributable to increased weather-related power outages and aging power generation and distribution networks. Furthermore, using portable generators during emergency backups can prevent food from spoiling, keep lighting, and help with other daily requirements.
The report segments the portable fuel generators market into gasoline (petrol), diesel, natural gas, and others. Others include LPG, propane, and biodiesel. The gasoline (petrol) market is expected to hold the highest market share during the forecast period. It is mainly used for temporary, intermittent or low-load applications. Gasoline is a common source of fuel and the easiest to obtain. It is mostly used to run portable generators for a shorter period of time, which is likely to increase its demand in the global portable generator market.
On the basis of rated power, less than 5 kW, 5-10 kW, and 10-20 kW. The gasoline (petrol) market is expected to hold the highest market share during the forecast period. The 5-10 kW portable generator, depending on power rating, is expected to occupy the highest market share during the period from 2021 to 2026. The market for these generators is expected to grow due to the increased awareness of internal power reserve and the demand for portable power systems in outdoor leisure activities.
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Portable generators market, by end user, in residential, commercial and industrial areas. The residential segment is expected to hold the highest market share during the forecast period. The increasing number of frequent power outages and inadequate power supply in some parts of Africa and South America are expected to increase the demand for residential portable generators.
Few of the major players who have a wide regional presence and dominate the portable generator market. The leaders in the portable generator market include Honda (Japan), Generac (US), Caterpillar (US), Atlas Copco (Sweden) and Yamaha (Japan).
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Generators market sales by fuel type (diesel, gas), power rating (up to 50 kW, 51-280 kW, 281-500 kW, 501-2000 kW, 2001-3500 kW, above 3500 kW), application (standby , continuous), end user, design, sales channel, region – global outlook to 2027
Asia Pacific Generators Market, by Fuel Type (Diesel, Gas), Power Classification (<100kVA, 100-350kVA, 350-1000-2500kVA, 2500-5000kVA, >5000 kVA), Application (Standby, Continuous, Peak Shaving), End User, Country – Forecast to 2025