The global portable generator market is currently valued at almost USD 6 billion and is expected to reach almost USD 8 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global portable generator market, under its engineering tools portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Briggs & Stratton, Cummins, Eaton, Generac Holdings, Honda Motor, Kohler, and Yamaha Motor.
According to Anju Ajaykumar, a lead analyst for engineering tools research at Technavio, “The global demand for portable generators is likely to grow in tandem with the global construction industry. For operating necessary construction equipment and tools, the industry needs access to electric power, which is not easily accessible in many places where construction takes place. This creates the need for backup power generators for an electric power source for operation of tools and equipment.”
The tremendous growth of the construction industry is likely to be concentrated in three countries — China, the US, and India. The projected rise in investments in construction activities will directly contribute to the growth of the low and medium gas generator market as these generators are widely used in construction sites.
Stringent emission regulations for diesel engines
The US EPA is implementing cleaner standards and regulations primarily for diesel fuel-powered engines that focus on the emission control of nitrogen oxides, carbon monoxide, particulate matter, and non-methane hydrocarbon. The implementation of such norms is prompting generator manufacturers to shift their focus on developing gas generators. Gas generators are more environment-friendly, as they are compliant with all emission standards and emit very less amount of pollutants compared with diesel generators.
Growing popularity of gas generators
The global market is currently witnessing a gradual shift toward the adoption of gas-fueled generators rather than diesel generators due to the benefits that gas as a fuel offers. Instead of investing in diesel generators, end-users are slowly opting for these type of generators, as they help end-users by avoiding the hassle of refilling fuel in the generator during a power outage.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Portable Generators Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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