global portable generator market
19 Jan
2020
Press Release

According to the latest report by IMARC Group, titled “Portable Generator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global portable generator market size reached US$ 4.3 Billion in 2018. A portable generator, also known as an engine-generator, is an internal combustion engine that is used for providing electricity during power shortages. It runs on a fuel-powered engine that turns an on-board alternator to generate power. With the advancements in technology, generators have undergone numerous transformations over the past several years. They now offer high cost-efficiency, enhanced durability, better flexibility, and provide excellent power backup with easy installation. Also, portable generators ensure the continuous functioning of essential devices at homes, corporate buildings, industrial projects and construction sites, owing to which they are widely being adopted by the masses.

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Global Portable Generator Market Trends:

The growing population, along with rapid urbanization and industrialization, has led to an increase in power consumption around the world. Consequently, this has contributed to frequent grid failures, leading to blackouts and power shortage issues. As a result, there has been a boost in the sales of portable generators to provide an uninterrupted and reliable power supply. Apart from this, the flourishing construction industry extensively utilizes portable generators for operating power tools such as air compressors, drills, air hammers, drives, cranes, paint sprayers and saws. Moreover, rising environmental concerns have prompted the leading manufacturers to introduce biofuel-based portable generators, which aid in reducing carbon footprints. In addition to this, several governmental agencies, such as the US Environmental Protection Agency (EPA) and the Central Pollution Control Board (CPCB) of India, have launched various schemes for promoting the use of these generators. Some of the other factors providing a positive impact on the industry are continuous industrial and economic development, coupled with the rising frequency of natural calamities, such as hurricanes, floods, tsunamis, and other adverse weather conditions that can lead to power outages. Looking forward, the market value is projected to reach US$ 6.3 Billion by 2024, expanding at a CAGR of 6.7% during 2019-2024.

Explore full report with table of contents: https://www.imarcgroup.com/portable-generator-market

Insights on Market Segmentation:

Market Breakup by Fuel Type:

1. Portable Diesel Generators

2. Portable Gas Generators

3. Other Types

Based on the fuel type, the market has been categorized into portable diesel generators, portable gas generators and others.

Market Breakup By Application:

1. Residential

2. Commercial

3. Industrial

4. Infrastructure

On the basis of the application, the market has been bifurcated into residential, commercial, infrastructure and industrial sectors.

Market Breakup by Power Output:

1. Less than 3 kW

2. 3-10kW

3. More than 10kW

The market has been divided based on the power output into less than 3kW, 3-10kW and more than 20kW.

Market Breakup by Region:

1. Asia Pacific

2. Europe

3. North America

4. Middle East and Africa

5. Latin America

Region-wise, the market has been segmented into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America.

Competitive Landscape:

The competitive landscape of the market has also been examined, with some of the key players being Briggs & Stratton Corporation, Cummins, Inc., Honda Motor Co., Ltd., Eaton Corporation PLC, Generac Power Systems, Inc.

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This post was originally published on Stock Markets News

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imarcgroup
https://www.imarcgroup.com/
[email protected]

IMARC Group is a leading market research company that provides market and business research intelligence across the globe. We partner with clients in all regions and industry verticals to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. We make an effort to fulfill specific and niche requirements of the industry while balancing the quantum of quality with stipulated time and trace major trends at both the domestic and global levels. The information products and services provided by IMARC cover major technological, scientific and economic developments in industrial, pharmaceutical and high technology organizations.