Northbrook, IL -- (SBWIRE) -- 09/17/2019 -- According to the market report published by MarketsandMarkets™ "Portable Generator Market by Fuel Type (Gasoline, Diesel, Gas), Application (Emergency, Continuous), Power Rating (<5 kW, 5–10 kW, > 10 kW), End-User (Residential, Commercial, Industrial), and Region - Global Forecast to 2022", the global portable generator market is expected to grow at a CAGR of 3.66%, from 2017 to2022, to reach a market size of USD 2.28 billion by 2022. The increasing number of weather-related power outages and the increased demand for uninterrupted and reliable power supply in developed and developing nations are expected to drive the global portable generator market during the forecast period.
The other fuel segment which includes propane, LPG, and bio-diesel is expected to be the fastest growing fuel segment of the portable generator market, from 2017 to 2022. Countries around the world have set the emission and are working toward achieving these targets, which has resulted in the increased share of environment-friendly fuel for power production. Countries such as the US, Brazil, Canada, Germany, France, and the UK are expected to increase their focus on environment-friendly technologies, driving the market for propane, LPG, and bio-diesel powered portable generators during the forecast period.
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In the end-user segment, the residential segment is expected to be the fastest-growing segment of the portable generator market during the forecast period. Unreliable power supply due to weather-related power outages is expected to drive the residential end-user segment market during the forecast period. High purchasing power in countries such as the US, Canada, the UAE, and Saudi Arabia is also fueling the growth of the portable generator market in the residential end-user segment.
The 5 to 10 kW power rating segment is expected to be the fastest-growing segment of the portable generator market during the forecast period. 5 to 10 kW portable generators are mainly used for large residential and commercial end-users. These generators find applications in air compressors, drills, high-pressure washers, and industrial motors. 5 to 10 kW portable generators can handle a wide range of load and due to this, the 5 to 10 kW portable generator market is expected to be the fastest growing market during the forecast period.
The prime/continuous segment is expected to be the fastest-growing segment of the portable generator market, from 2017 to 2022. Increasing construction activities in countries such as China, India, the US, the UAE, and Saudi Arabia are expected to create the demand for portable generators for prime/continuous power applications.
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Asia Pacific is expected to be the fastest-growing region for portable generators, from 2017 to 2022, followed by North America and the Middle East and Africa. Countries such as the US, China, Canada, Russia, and India are the largest markets for portable generators. The growth of the construction sector in the BRICS nation is the main driver for the growth of the portable generator market in the region. The building and construction market is on the rise in India and China due to current government initiatives such as smart cities and green building initiatives, which are expected to create the demand for portable generators during the forecast period.
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