September 26, 2023 11:00 ET | Source: The Brainy Insights The Brainy Insights
Newark, Sept. 26, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 6.0 billion portable generator market will reach USD 10.2 billion by 2032. During a power outage, portable generators serve as a backup power source. The generator assists in keeping lights and appliances operational until services are restored. Portable generators have high power quality, low noise in operation, cost-effectiveness, and smooth and effective electrical signal delivery, fueling market expansion. The market's major driving factors include rising demand for uninterrupted and dependable power supply, industrialisation, growing urbanisation, and a developing economy. Portable generator designers and manufacturers are eager to build highly efficient and environmentally friendly systems, which is another element positively boosting market growth. Electrical Load Break Switch
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Asia Pacific to account for the largest market size during the forecast period.
Asia Pacific is expected to have the essential portable generator market share. Due to its rapid industrialisation, increased infrastructural development, and increasing demand for reliable power solutions in the region. China, India, Japan, and South Korea are experiencing rapid economic growth, increasing energy demand in urban and rural areas. Portable generators provide critical backup power in locations with unreliable or inadequate power systems, assisting numerous industries, building sites, and disaster preparedness. Furthermore, the region's vulnerability to natural catastrophes like typhoons and earthquakes increases the demand for portable generators to ensure the continuity of key services and relief activities during emergencies. The increase in outdoor leisure activities and tourism in Asia Pacific also drives demand for portable generators to offer power in remote regions.
The portable gas generators segment dominated the market with the most significant revenue of USD 2.34 billion.
The portable gas generators segment dominated the market with the most significant revenue of USD 2.34 billion. Portable gas generators are a driving force in the industry, appealing to commercial and residential consumers seeking dependable and strong on-the-go power solutions due to their high performance and wide range of applications.
The residential segment dominated the market with the most significant revenue of USD 2.58 billion.
The residential segment dominated the market with the most significant revenue of USD 2.58 billion. Because of the growing demand for backup power solutions in households, residential applications are driving the portable generator market. With the increased frequency of extreme weather events, natural disasters, and power outages, households seek dependable and convenient power sources to keep crucial electricity running during emergencies. When the main power supply is disrupted, portable generators provide a practical alternative by allowing homeowners to power crucial appliances, lighting, warmth, and communication equipment. Because of their adaptability, portability, and ease of use, they are popular for home customers, providing peace of mind and comfort in unexpected situations. Furthermore, the growing trend of remote working and digital lives emphasises the significance of continuous power supply, which increases the use of portable generators in residential settings.
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The fast expansion of construction and infrastructure development projects worldwide necessitates using dependable power sources on job sites. Portable generators meet this demand by powering construction tools, equipment, and illumination, allowing continuous activity in remote or temporary areas. These generators are critical in sustaining productivity and efficiency and meeting construction timetables without relying primarily on traditional power systems. As urbanisation and infrastructure projects expand, the portable generator market remains buoyant, meeting the construction industry's demand for diverse and accessible power solutions in various difficult environments.
However, rigorous environmental regulations to lower carbon emissions are the main factors limiting market expansion.
As public awareness of global warming has grown, so have portable generators fueled by biofuel, a sustainable energy source. Biofuel can be used as a direct replacement for diesel fuel due to its chemical similarities to petroleum-based fuels. Furthermore, biofuel provides energy independence to countries such as Japan and Italy, which rely on imported natural gas and petroleum. Biofuels can be made from canola, soybean, corn, residual cooking oil, and animal fats. As a result, participants in the portable generator market would gain from the increased demand for biofuel-powered generators.
The portable generators market needs to be improved by limited power supply duration and rigorous environmental laws regarding the emission of harmful gases from diesel generators.
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Some of the major players operating in the portable generator market are:
● Briggs & Stratton Corporation ● Champion Power Equipment ● Caterpillar, Inc. ● Cummins Inc. ● Generac Power Systems, Inc. ● Kohler Co. ● Multiquip Inc. ● WINCO ● Yamaha Motor Corporation ● Duromax Power Equipment
Key Segments cover in the market:
● Portable Diesel Generators ● Portable Gas Generators ● Others
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The global portable generator market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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