Global Portable Generator Market 2019-2023
About this market
Dual fuel generator technology to drive growth in the market. With the help of technological advances, vendors design dual fuel systems that enable a diesel engine to run on CNG as well, without incorporating any prominent permanent changes in the engine. Technavio’s analysts have predicted that the portable generator market will register a CAGR of almost 8% by 2023.
Unreliable power grid infrastructure in developing countries
To overcome power outage in developing regions, consumers are increasingly adopting portable generators for backup power supply.
For residential consumers, alternative backup solutions that use battery power packs or inverter technology are cost effective and more environment friendly than generators.
For the detailed list of factors that will drive and challenge the growth of the portable generator market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including Yamaha Motor and YANMAR the competitive environment is quite intense. Factors such as the unreliable power grid infrastructure in developing countries and the dual fuel generator technology, will provide considerable growth opportunities to portable generator manufactures. Briggs & Stratton, Caterpillar, Generac Power Systems, Honda Motor, Kohler, Yamaha Motor, and YANMAR are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Portable Generator Market 2019-2023
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the dual fuel generator technology.”
According to the report, one of the major drivers for this market is the unreliable power grid infrastructure in developing countries.
Further, the report states that one of the major factors hindering the growth of this market is the energy alternatives.
Briggs & Stratton
Generac Power Systems