August 07, 2019
Global portable generators market is projected to surpass 8 million units by the year 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2019-2025.
While the demand for uninterrupted electricity is increasing, there is inadequacy in power supply, inclining the consumer towards adopting portable generators for supporting their daily chores. Longer power outages due to adverse weather conditions along with growing infrastructural expansion will propel the portable generators market growth.
As cited in the report, the consumers expect better power reliability along with zero downtime which encourages the adoption of portable gensets. The dependency on electricity has increased owing to the soaring use of electrical appliances to carry out several everyday operations. Powering lights, heating systems, and other electrical devices using portable generators in case of an outage has amplified product demand.
Taking into consideration the easier portability and smaller surface area of 3.5 to 5 kVA portable gensets, the product market will witness demand growth across the residential consumers. The factors promoting demand include operational suitability, compactness, and light weight. Moreover, commercial end-use segment is projected to hold a market share of 4% over the forecast period. The ease of installing portable generators to manage sudden blackouts, backyard parties, camping trips, and other such outdoor recreational activities will boost the market growth, cites the report.
According to the research, Nigeria portable generator market is expected to exceed USD 40 million by 2025, driven by poor power transmission & distribution, high power costs, and rapid population growth.
Based on the phase type of portable generators, three-phase generators are presumed to witness robust growth owing to lower weight, simple machinery, and easier installation with minimum external circuitry. Other features driving the product demand are effective power supply and optimal material efficiency. Additionally, adoption of gasoline based portable generator by varied end-users attributed to lower price and multi-use capacity along with simpler operation, fuel availability and portability of the product.
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In terms of regional contribution, the portable generator market in Asia Pacific is projected to accrue significant proceeds owing to increased disposable income and growing awareness about the emergency power backup solutions. Moreover, Southeast countries are witnessing more and more construction project owing to partnership between public & private organisations, infrastructural investment, and real estate development, which will in turn boost the installation of portable generators and foster regional market growth.
The key players contributing to the growth of portable generator market include Cummins, Briggs & Stratton, Siemens, Kirloskar Oil Engines Limited, Champion Power Equipment, Yamaha, Atlas Copco, Kohler, Honda, Caterpillar, Firman Power, and Generac.