Sales of portable generators grow 1.8 times as electrical grids fail to meet the growing need for energy: a fact.

New YorkAnd the November 3, 2021 /PRNewswire/- Fact.MR – Market Research and Competitive Intelligence Provider: According to a detailed survey conducted by Fact.MR, the global portable generator market is set to total 1.5 billion US dollars by 2031. Increased incidence of blackouts due to aging electrical grid infrastructure, particularly across developing economies such as IndiaAnd the China Increase sales of portable generators.

Energy consumption is expected to rise significantly in the coming years due to rapid industrialization and urbanization. According to the International Energy Agency (IEA), worldwide energy consumption is estimated to rise from 19% in 2018 to 24% in 2040.

As legacy electrical grids fail to meet the growing demand for power, it is estimated that portable generators will see profitable sales opportunities in the coming years. In response, the market is expected to expand at a 6.5% CAGR during the forecast period 2021-2031.

Portable generators are gaining in popularity across construction, mining, and oil and gas exploration activities to provide electricity for power tools such as drills, pneumatic hammers, compressors, and more. With this in mind, portable generator sales are expected to reach 850 million US dollars In 2021, a 1.8-fold increase from 2021 to 2031.

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According to Fact.MR, standby backup generators are expected to emerge as the most lucrative application segment, creating an absolute dollar opportunity 500 million US dollars Until the year 2031. The high reliability and continuous power supply of standby standby generators are the factors that help the growth in this sector.

“Leading manufacturers are emphasizing on developing innovative products such as diesel hybrid photovoltaic (PV) generators to counter growing concerns about pollution from the generators. This is expected to accelerate market growth in the coming years,” Says Fact.MR Analyst.

Main takeaway from portable generators market study

  • The United States is expected to remain the dominant market in North Amaricashowing a 7% compound annual growth rate (CAGR) over the evaluation period.
  • India It is expected to represent a significant revenue share in South Asia Market, showing sales at a compound annual growth rate of 7.5% through 2031.
  • China It is expected to emerge as the fastest growing market for portable generators in East Asiaat a compound annual growth rate of 8% from 2021 to 2031.
  • Depending on the application, standby generators are estimated to dominate the segment, accounting for nearly a third of total sales by the end of 2031.
  • In terms of power output, 1.0 to 3.0 kW portable power output is expected to emerge as a very profitable market, reaching up to 300 million US dollars Until 2031.

Main Motives

  • Increased demand for electricity due to the increasing trend of electrification and automation across the automotive, industrial, construction and mining industries is driving the demand for portable generators.
  • Rising blackouts and rising rush hour energy costs across countries like the United States, GermanyAnd the ChinaAnd the India Stimulates sales of portable generators across the industrial and commercial end use segment.

Key Constraints

  • The limited power generation capacity of portable generators and the inability to provide the power source in the long term are some of the factors hindering growth in the market.
  • Implementation of strict regulations on greenhouse gas emissions and the increasing cost of fuels such as diesel and gasoline are hampering sales of portable generators.

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Competitive scene

According to Fact.MR, the major players in the global portable generator market are Briggs & Stratton Corp and Generac Power Systems, Inc. and Kohler Co. Inc. and Honeywell International Inc. in 2021.

Leading players focus on adopting strategies such as product diversification, acquisition, agreement, marketing strategy development, and brand awareness to enhance their market position while reducing business risk. for example,

  • in March 2021Jackery, the manufacturer of rechargeable battery-powered generators, has announced the launch of two new generators, the Jackery Solar Generator 1500 and Jackery Solar Generator 2000, featuring higher wattage, large battery capacity, lower noise emissions, ease of use and clean technology. The generators are equipped with the latest Solarpeak technology, which delivers smarter and more efficient charging with a maximum power of 800W.
  • in April 2019Generac, the manufacturer of standby power generation products, has announced its acquisition of the manufacturer of residential energy storage systems, Pika Energy Inc. The acquisition will help the company modernize the way electricity is generated, stored and used across residential environments.

Some of the major players in the market described by Fact.MR are:

  • Briggs & Stratton Corporation.
  • power equipment champion
  • Generac Power Systems, Inc.
  • Honeywell International Corporation
  • Kohler Company Limited.
  • NIDEC Corporation.
  • Stanley Black & Decker, Inc.
  • Stifel Generators Ltd.
  • Tektronic Industries Co., Ltd.
  • Yamaha Motor Co., Ltd.

More valuable insights about portable generators Market

Fact.MR, in its new report, provides a detailed analysis of the global Portable Generators market, forecasting statistics analysis for the 2021-2031 assessment period. The study reveals the growth outlook of the Portable Generators Market with detailed segmentation:

  • According to the power output
    • Portable Generators Less Than 1 KW
    • 1-3. Portable Generators KW
    • 3-5KW Portable Generators
    • More than 5 KW Portable Generators
  • According to the end use
    • portable commercial generator
    • Residential Portable Generators
    • portable industrial generators
    • portable agricultural generator
    • Aharon
  • According to the application
    • Standby Backup Power Generators
    • Portable Continuous Power Generators

Key questions addressed in the Portable Generators Market report

  • The market survey also highlights the expected sales growth of the portable generator market between 2021 and 2031
  • The report provides an insight into the demand outlook for portable generators for the period 2021-2031
  • Analyzing the Portable Generators market share of key industry companies and covering strategies such as mergers and acquisitions, collaborations or partnerships, and others
  • The Portable Generators Market analysis identifies the key growth drivers, restraints, and other forces influencing the prevailing trends, and evaluates the current market size, forecast, and technological advancement within the industry.

Discover Fact.MR’s coverage of industrial goods –

Portable Inverter Generators MarketThe increasing frequency of power outages has increased the demand for portable inverter generators. As electrical grids in both industrialized and developing countries have been shut down due to circuit faults, businesses and individuals have incurred huge losses totaling millions of dollars. Regular power supply is still a problem in poor areas of the world, and these countries are emerging as major buyers of portable inverter generators. Fuels such as diesel and gasoline are readily available in such locations, but an adequate supply of electricity remains a distant dream.

electric generators marketOver the past few years, electrical networks in different regions of the world have faced many problems. In order to meet energy demand, aging power transmission infrastructure and increasing global demand for electricity have boosted generator sales. Urbanization has put pressure on existing infrastructure, prompting governments and private companies to increase blackouts. Thus, city dwellers are expected to adopt residential electric generators. The generator market is expected to grow at a high rate in the near future.

diesel generator marketRapid industrialization is one of the primary growth drivers that has driven the demand for diesel generators worldwide. Heavy generators are required for a variety of industrial applications, including marine, mining, rail, and oil and gas exploration. Other factors driving the demand for diesel generators in the market include the relatively low cost of installing diesel generators compared to alternative energy sources, which is expected to drive up demand for diesel generators during the forecast period.

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