According to a new report by Market Research Future (MRFR), the market for portable generator is projected to showcase 4.15 % growth rate throughout the forecasted period (2017-2023). Portable generators offer a reliable backup during severe weather conditions such as wind or ice storms and electrical power outages. They are usually internal combustion engines used in generating electricity in commercial, domestic, and industrial applications. Portable generators are extensively used as backup in construction sites, live commercial events, and additional source of power during power cuts.
Designed to offer temporary AC power for stand-alone, non-hardwired applications, portable generators are backup devices which work by using supplied fluids such as gas or diesel. While low-end models support a few basic home appliances, the high-end models provide power backup to the entire house. Owing to easy installation and low cost, commercial and infrastructure sectors also employ portable generators.
Global Portable Generator Market Segmentation:-
The portable generator market has been segmented into power-rating, fuel type, end-user, application, and region.
The market has been segmented into peak shaving, baseload, and standby power based on application. Among these, the standby power is a crucial segment of the market which signifies an electrical power generation facility that operates only during power disruptions from the distribution system. Due to energy-intensive industries, the peak shaving segment is anticipated to contribute significantly to the market. The peak shaving power generator is preferred among industries who want to steer clear of power suspension during non-peak and peak hours.
The market has been segmented into diesel gas, gasoline, and others based on fuel type. The gasoline segment has been accounted to hold the largest market share and anticipated to grow at the highest CAGR over the forecasted period, owing to the strict environmental norms by the government to control emission of hazardous gases emitted from diesel generators. Besides, the increasing focus on environment-friendly technologies across the globe is expanding the market for LPG, biodiesel and propane.
The market has been segmented into commercial, industrial, and residential based on end-user segment. The residential segment has accounted for the largest market share due to rising demand for in-house power backup.
The market has also been segmented into less than 3 kW, 3 kW-10 kW, and above 10 kW based on power rating. Among these, less than 3 kW portable generators are likely to show a significant growth rate over the forecasted period. Generators with more than 10 kW power rating are usually used in industrial sector due to greater power requirement to run industrial tools and machines.
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The prominent players operating in the global market for portable generator are Briggs & Stratton Corporation (U.S.), Yamaha Motor Corporation (Japan), Generac Power Systems, Inc. (U.S.), Caterpillar Inc. (U.S.), Honda Motor Co. Ltd (Japan), and more.
Larson Electronics has released its 9000-Watt air-cooled gas powered portable generator with an electric start to offer standalone power for equipment and lights where line power is not available. The unit allows up to 9 hours of run time on a single tank of fuel.
Larson Electronics also released air cooled 9000-Watt generator with 15 horsepower which is powered by gasoline and operates on 120/240 volts AC with optional 12 volts DC. This portable generator is equipped with 7 outlets including 2 twist locks, 1 charger, and four 3-prong outlets. It has been mounted on a wheeled base for easy movement.
Drivers and Restraints:-
Owing to rapid industrialization and expansion in the construction industry such as drilling, cutting, and lifting, the market is sure to witness an expansion. Growing urbanization coupled with shortage of power supply has led the consumers opting for portable generators to ensure uninterrupted power supply. This has, in turn, contributed to the market growth.
Meanwhile, strict environmental mandates levied by the government towards emission of hazardous gases act as a major restraint to the growth of the portable generator market globally.
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Regional Segmentation Analysis:-
Geographically, the market for portable generator has been segmented into Europe, North America, Asia Pacific and Rest-of-the-World (RoW).
North America has been projected to dominate the global market for portable generator. Natural calamities and aging grid structure causes frequent power cut. Also, growing demand from the industry sector is fuelling the growth of the market in North American region. U.S. is the largest contributor not only in North America but also across the globe.
Asia Pacific is anticipated to show the highest CAGR during the forecast period, owing to some major factors like the continuous growth of developmental and constructional activities. Japan, China, Thailand, and India are the prominent contributors to the Asia Pacific market, where China accounts for the highest market share due to the rapid urbanization and industrialization.
Latin America is expected to contribute significantly to the market over the forecast period. High growth in construction activities and easy availability of fossil fuels is impacting the growth of the market positively.
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