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Portable Generators Global Market Report 2023
Major players in the portable generators market are Yamaha Motor Company Limited., Kohler Co., General Electric Company, Caterpillar Inc., Cummins Inc., Honeywell international Inc., Generac Power Systems Inc.
New York, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Portable Generators Global Market Report 2023" - https://www.reportlinker.com/p06285602/?utm_source=GNW
, Eaton, Briggs & Stratton Corporation, Atlas Copco (India) Ltd., WackerNeuson SE., Champion, WINCO, Harrington Generators International Ltd., Multiquip Inc., Kirloskar Electric co. Ltd., Stanley Black & Decker Inc., STEPHILL GENERATORS Ltd., and Techtronic Industries Co. Ltd.
The global portable generators market grew from $5.09 billion in 2022 to $5.64 billion in 2023 at a compound annual growth rate (CAGR) of 10.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The portable generators market is expected to grow to $8.47 billion in 2027 at a CAGR of 10.7%.
The portable generator market consists of sales of air cooled generator set, PTO generator, electric start generator, digital inverter generator.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The portable generator provide electrical power where electricity is unavailable or required for temporary purposes.A portable generator is a gas- or diesel-powered device designed typically to be an electrical generator that measures power in hours of use instead of days.
Portable generators provide electricity by running a gas-powered engine that turns an on-board alternator, which generate electrical power. These generators provide temporary, easily transportable electric power, and are very commonly found in daily operation on all work and leisure sites.
Asia-Pacific was the largest region in the portable generators market in 2022.North America was the second largest region in the electrical and electronics market.
The regions covered in portable generator report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of portable generators are conventional portable generator and inverter portable generator.Inverter portable generators have varying speeds depending on the power required for a task; the more power required the faster the engine runs, making them more fuel-efficient.
Some of these generators also have fixed speed set points, which helps with loads changing too frequently as small loads turn on and off. The fuels used in portable generators are diesel, gas, and others and these generators are used by residential, commercial, and industrial end users.
The growing rate of urbanization coupled with the increasing frequency of power grid failures is propelling the growth of the portable generators market.Electricity is key to the economic progress of a nation but many countries in the world do not have proper grid infrastructure due to which there is an inadequate power supply which hampers operations of residential and industrial spaces.
Portable generators help provide a reliable power supply during a blackout and ensure continuous electricity supply for residential applications, as well.Moreover, rising concerns about power instability in the residential sector due to natural calamity, and uninterrupted operations are also driving the portable generator market.
For instance, in October 2022, The World Bank, an a US-based international financial institution, 4.4 billion people, or 56% of the world’s population, reside in urban areas. By 2050, approximately 7 out of 10 people will live in cities, with the urban population predicted to more than double from its current level. This surge in urbanization leads to an increase in the demand for portable generators.
The use of bi-fuel portable generators is a key trend gaining popularity in the portable generators market.Portable generator manufacturers have been working on technological advancements to help develop bi-fuel technology.
Bi-fuel portable generators provide fuel efficiency by making use of two fuel types, generally utilizing both diesel and natural gas, providing extended running times and significant reliability.These generators are scalable and reduce the costs of storing and managing large quantities of diesel fuel.
Furthermore, governments are implementing strict regulations primarily for diesel fuel-powered engines.Bi-fuel portable generators are more environmentally friendly emitting far less NOx and particulate matter than a standard diesel generator.
For instance, Generac’s Bi-Fuel™ are EPA certified and emit about 30% fewer nitrogen oxides and 50% less particulate matter than comparable diesel-only units.
In September 2021, SimpliPhi Power, a US-based company operating in distributed battery energy storage provider acquired Briggs & Stratton for an undisclosed amount.Through this acquisition, SimpliPhi Power aims to strengthen its product portfolio in portable generator.
Briggs & Stratton Corporation is a US-based gasoline engines and portable generators.
The countries covered in the portable generators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The portable generator market research report is one of a series of new reports that provides portable generator market statistics, including portable generator industry global market size, regional shares, competitors with a portable generator market share, detailed portable generator market segments, market trends and opportunities, and any further data you may need to thrive in the portable generator industry. This portable generator market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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