The global portable generator market value is estimated to reach around USD 5 billion by 2026 and growing at CAGR above 4.8 % over the forecast time frame 2019 to 2026.
The market has witnessed considerable growth owing to the growing need for temporary mobile Alternative Current (AC) generators to offer uninterrupted power supply during power shortage. Increase in awareness about the use of mobile backup power solutions for homes in order to cope with power cuts is expected to drive product demand in the residential segment over the forecast period.
Mobile generators are operated by fuels such as diesel or gas and are available in various models such as low-end and high-end. High-end models are used to operate all the appliances while low-end models are used to operate appliances that require low power. Portable generators are mostly used on a temporary basis for new construction sites, where usage of a power grid is difficult.
Factors such as aging electrical infrastructure and increasing oil and gas exploration activities are leading to growing demand for power. Technological advancements in IoT have enabled the development of computer-controlled portable generators, which are expected to drive the portable generator market.
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Major players are making massive investments in research and development programs for developing portable generators equipped with value-added features. Companies are focusing on developing products with features such as Bluetooth connectivity and CO guard carbon monoxide technology. In April 2019, Briggs & Stratton Corporation developed a portable generator that featured the CO guard carbon monoxide shutdown technology. This technology was designed to shut down generators when the levels of carbon emission cross the threshold value in the operating area.
Key players in the market include Wacker Neuson SE.; Generac Power Systems Inc.; Harrington Generators International Ltd.; Kohler Co.; WINCO; Cummins, Inc.; Multiquip, Inc.; Caterpillar Inc.; Briggs & Stratton Corporation; and Honda Siel Power Products Ltd. Players participate in the growth by R&D programs of innovative generators. They develop sophisticated goods such as IoT connectivity and emission detection technologies.
The establishment of a big number of production facilities has taken place in India and China, including by some of the leading automobile and consumer electronics companies such as Apple, Inc.; Volkswagen and Sony.
They also aim to expand their location and manufacturing through the acquisition of smaller businesses. For instance, Kohler, Co. has taken over from Clarke Energy, a UK gasoline and diesel generator manufacturer. In order to increase its production ability, Multiquip Inc. has set up a new plant at Carson for the manufacture of mobile generators.
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Further key findings from the report suggest:
- The U.S. Environmental Protection Agency (EPA) is focusing on implementing cleaner standards and regulations primarily for diesel fuel-powered engines
- Rapid infrastructural development in countries such as China, India, Singapore, and South Korea has led to a rise in the number of multistory residential buildings, where portable generators are used to keep elevators continuously powered
- The largest income in Asia Pacific in 2018 was USD 1.2 billion, China accounted in 2016 for the highest electric power consumption of 5,129 terawatt hours, followed by the US for 3,867 terawatt hours, for residential purposes
- The gasoline segment is anticipated to register the highest CAGR over the forecast period owing to factors such as low environmental pollution, cost-effectiveness, and durability
- The construction end-use segment is expected to exhibit the highest CAGR between 2019 and 2026 owing to increasing demand for mobile generators for construction projects such as hotels, shopping malls, and commercial parking facilities
is a freelancer, a graduate of the University of Pennsylvania with a BA in English, he studied accounting at the Wharton School of Business, and currently lives in Staten Island has been covering business and technology for a variety of publications since 1989. He worked for Red Herring, Beyond Computing & Accounting Technolgy. He covers accounting, taxes, finance, government news & technology for the site