Portable generator sales to increase 1.8 times as power grids fail to meet growing energy needs: Fact.MR
– Emergency backup generators to create absolute opportunity US $ 500 million in the portable generator market until 2031
– Latest Portable Generator Market Study released by Fact.MR reveals factors driving demand in various segments based on power output, end use and application. It also profiles some of the major players in the market and examines the impact of their strategies.
NEW YORK, November 3, 2021 / PRNewswire / – Fact.MR – A supplier of market research and competitive intelligence: According to a detailed survey conducted by Fact.MR, the global portable generator market is expected to total US $ 1.5 billion by 2031. Increased cases of power outages due to aging power grid infrastructure, especially in developing economies such as India, and China increase sales of portable generator sets.
A substantial increase in energy consumption is expected to be observed in the coming years, due to rapid industrialization and urbanization. According to the International Energy Agency (IEA), the world’s energy consumption is expected to increase from 19% in 2018 to 24% in 2040.
As old power grids fail to meet the growing demand for energy, portable generators are expected to experience lucrative sales opportunities in the years to come. In response to this, the market is expected to grow at a CAGR of 6.5% during the forecast period 2021-2031.
Portable generators are gaining popularity in construction, mining, oil and gas exploration activities to provide electricity to power tools such as drills, air hammers, compressors and others. Driven by this, sales of portable generator sets are expected to reach 850 million US dollars in 2021, multiplied by 1.8 from 2021 to 2031.
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According to Fact.MR, back-up backup generators are expected to become the highest paying application segment, creating an absolute dollar opportunity of US $ 500 million until 2031. The attributes of high reliability and continuous power supply of standby backup generators are the factors driving growth in the segment.
âLeading manufacturers are emphasizing the development of innovative products such as hybrid diesel photovoltaic (PV) generators to address growing concerns about pollution caused by generators. This should accelerate the growth of the market in the coming years. “ says a Fact.MR analyst.
Key takeaways from Portable generators Market research
The United States is expected to remain the dominant market in North America, showing a 7% CAGR growth during the evaluation period.
India should represent a substantial share of income in South Asia market, showing sales at a CAGR of 7.5% through 2031.
China is expected to become the fastest growing market for portable generators in East Asia, with a CAGR of 8% from 2021 to 2031.
Based on applications, standby backup generators are estimated to dominate the segment, accounting for nearly 3/4 of overall revenue by the end of 2031.
In terms of power, portable generators from 1.0 to 3.0 kW are expected to become a very lucrative market, reaching US $ 300 million until 2031.
The growing demand for electricity due to the growing trend towards electrification and automation in the automotive, industrial, construction and mining sectors is driving the demand for portable generators.
Rising instances of power outages and skyrocketing energy costs during peak hours in countries such as the United States, Germany, China, and India drive sales of portable generators in industrial and commercial end-use segments.
The limited power generation capacity of portable generators and the inability to provide long-term power supply are the factors hampering the growth of the market.
The implementation of strict regulations for greenhouse gas emissions and the rising cost of fuels such as diesel and gasoline are hampering sales of portable generators.
To learn more about Portable generators Market, you can contact our Analyst at
According to Fact.MR, the leading companies in the global portable generator market are Briggs & Stratton Corp, Generac Power Systems, Inc., Kohler Co. Inc. and Honeywell International Inc. These companies are estimated to account for over 40% of sales. in 2021.
The main players are focused on adopting strategies such as product diversification, acquisition, agreement, development of marketing strategies and brand awareness to strengthen their position in the market while reducing business risks . For example,
In March 2021, Jackery, a manufacturer of rechargeable battery powered generators, announced the launch of two new generators, the Jackery Solar Generator 1500 and the Jackery Solar Generator 2000, offering higher wattage, large battery capacity, lower noise emissions , easy to use and clean technology. The generators are equipped with the latest Solarpeak technology, which offers smarter and more efficient charging with a maximum power of 800 W.
In April 2019, Generac, a manufacturer of standby power generation products, announced the acquisition of a manufacturer of residential energy storage systems, Pika Energy Inc. The acquisition will help the company modernize the way it produces , storage and use of electricity in residential environments.
Some of the major market players presented by Fact.MR are:
Briggs & Stratton Corp.
Champion’s Power Gear
Generac Power Systems, Inc.
Honeywell International Inc.
Kohler Co. Inc.
Stanley Black & Decker, Inc.
STEPHILL LTD GENERATORS
Techtronic Industries Co. Ltd.
Yamaha Motor Co. Ltd.
More valuable information on Portable generators Marlet
Fact.MR in its new report offers a detailed analysis of the global portable generators market, analyzing the forecast statistics for the assessment period 2021-2031. The study reveals growth projections on the portable generator market with detailed segmentation:
By output power
By end use
Key Questions Answered In The Portable Generators Market Report
The market research also highlights the expected sales growth of the portable generators market between 2021 and 2031.
The report provides insight into the demand outlook for portable generators for 2021-2031
Analysis of the portable generator market share of key companies in the industry and coverage of strategies such as mergers and acquisitions, collaborations or partnerships, etc.
The analysis of the portable generator market identifies key growth drivers, restraints, and other forces impacting the prevailing trends and evaluating the current market size and forecast and technological advancements within the market. ‘industry
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Portable Inverter Generator Market– The increasing frequency of power outages has fueled the demand for portable inverter generators. Because power grids in industrialized and developing countries have shut down due to circuit failures, businesses and individuals have suffered massive losses totaling millions of dollars. Regulating the power supply remains a problem in poor parts of the world, and these countries are emerging as the major buyers of portable inverter generators. Fuels such as diesel and gasoline are readily available in such places, but a good supply of electricity remains a distant dream.
Electric Generator Market– In recent years, the power grids in various parts of the world have faced many problems. In order to meet the demand for electricity, aging power transmission infrastructure and growing global demand for electricity have boosted sales of electric generators. Urbanization has put a strain on existing infrastructure, forcing governments and private companies to increase blackouts. Therefore, the population of cities should adopt residential electric generators. The market for electric generators is expected to grow at a high rate in the near future.
Diesel Generator Market– Rapid industrialization is one of the main growth engines that has propelled the demand for diesel generators around the world. Heavy-duty generators are needed for a variety of industrial applications, including marine, mining, railroads, and oil and gas exploration. Other factors driving the demand for diesel generators in the market include the relatively low installation cost of diesel generators compared to alternative energy sources, which is expected to further increase the demand for diesel generators during the period. forecast.
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