Portable Gensets Market size to exceed $7.4bn by 2026

Portable Gensets Market size is anticipated to surpass $7.4 billion by 2026, as reported in the latest study by Global Market Insights, Inc.
 

Escalated dependency on electrical appliances to perform daily-life operations while catering to a wider range of end-users is set to drive the portable generators industry share. Mounting urgency to counter the increasing power demand as a result of population growth, primarily across emerging economies will complement the market scenario.

 

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Shifting consumer preference toward zero downtime and availability of continuous power supply along with its ability to be transported easily will stimulate the product deployment. Moreover, growing trend of Recreational Vehicles (RVs) driven by increasing travel and open-air fun activities is anticipated to stimulate the gensets adoption.
 

Gasoline portable gensets market is projected to witness a substantial growth owing to easy availability of fuel driven by implementation of mega O&G exploration projects

Gasoline segment will witness a substantial upsurge owing to easy availability of fuel in consequence of increased adoption of oil & gas exploration projects. The ability of these units to efficiently serve the purpose on account of its mobility, light weight and compact size is set to propel the industry statistics. Further, rising frequency of prolonged power outages as a result of grid failures caused by weather adversities will necessitate the product deployment.
 

Shifting end user preference toward portable systems with aesthetic product designs and minimal surface footprint is set to drive the 6-8 kW portable generators market share. The ability to effectually cater to power requirements on the consumer end, chiefly across residential applications will favor the incursion of gasoline gensets in the industry.
 

Commercial application is projected to experience growth owing to rising inclination toward recreational activities

Commercial portable gensets market is set to register over 6% CAGR from 2020 to 2026. Rising participation in open-air recreational applications owing to increased consumer disposable income along with ongoing product innovation and technological advancements is set to drive the industry outlook. These gensets are lightweight, compact and are primarily installed for outdoor recreational activities including backyard parties, sudden blackouts, RV installations and camping trips.
 

Growing adoption of small-scale construction projects along with the mounting pressure to provide uninterrupted electricity supply to the mobile towers installed at remote locations will favor the product adoption. Further, insurgent industry demand for dependable and consistent power supply in order to ensure continuous functioning of onsite equipment will boost the product deployment.
 

Browse key industry insights spread across 550 pages with 1,193 market data tables & 39 figures & charts from the report, “Portable Generators Market Analysis By Product (Conventional Portable Generator, Inverter Portable Generator), By Fuel & Power Rating (Diesel {<20 kW, 20-50 kW, >50-100 kW}, Gasoline {<2 kW, 2-5 kW, 6-8 kW, >8-15 kW}, Others), By Phase (Single Phase, Three Phase), By End-Use (Residential, Commercial, Construction), Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/portable-generators-market
 

Ongoing refurbishment activities across Europe will enhance the market statistics

For Europe, UK is set to drive the market growth owing to the rapid commercialization and expansion of residential infrastructure. Government initiatives including refurbishment of conventional establishments along with rising adoption of energy efficient systems with an aim to limit carbon emissions will boost the gensets deployment.
 

Nigeria, in 2019, accounted for over 15% of the Africa portable gensets market share. Rapid population growth coupled with escalated electricity prices and faulty grid network will continue to strengthen the product adoption. Leading manufacturers are fixating their focus on forming strategic partnerships, joint ventures and mergers and acquisitions to provide competitive pricing selections, thereby encouraging the market share.
 

Prominent industry players operating across portable gensets market include Cummins, John Deere, Kohler, Briggs & Stratton, Yamaha Motor, Generac, Caterpillar, Honda, Westinghouse Electric Corporation, Champion, Siemens, Atlas Copco, Firman, Wacker Neuson, Honeywell, DuroMax, Kirloskar and WEN Products. The key participants are aiming at providing integrated & updated technology in order to sustain their market share.

 

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