The global portable generator market is expected to grow at a CAGR of 6.0% during the forecast period, from an estimated USD 2.2 billion in 2022 to USD 2.9 billion in 2027. Construction activities needs electric power to operate the various equipments and machinery used at working sites where construction is taking place. These sites are not accessible to grid supply as they are often in remote areas where grid supply does not reach. This is where the power generation industry comes into play by providing generators to supply the much-needed electric power. Portable generators in these activities can carry out their operations and be carried out from one site to another. Portability of the generators ensures that all construction sites have the required power necessary to run smooth operations. It would be challenging to share power from a centralized location to power different plants in without these generators. Despite whether you are operating a large or medium-sized construction, a portable generator should always be there and ready for use.
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North America accounted for a 34.7% share of the portable generator market in 2021. The countries included are the US, Canada, and Mexico. North America is one of the leading manufacturers and consumer of electricity. Environmental distress, power outages, the developments in the natural gas exploration activities, and peak time electricity costs are expected to drive the portable generator market in this region.
There are many global market players. For instance, companies such as Honda, Yamaha, Generac, Caterpillar, and Atlas Copco are more or less of the same size and exhibit similarities in terms of financial strength, technological advancements, and geographical reach. Meanwhile, players are adopting different strategies to promote their growth. This contributes to the increasing rivalry among firms to gain maximum market share. In addition, product differentiation in the market is low. Product differentiation refers to some differentiation in physical attributes or some features. In the case of portable generators, there is very little differentiation that an existing market player exhibits. Considering these factors, the intensity of rivalry is considered to be moderate in this market
Honda Power Equipment has launched CO-MINDER, a new advanced carbon monoxide (CO) detection system designed to help and protect users from injury or death from accidental carbon monoxide poisoning. The Honda CO-MINDER carbon monoxide detection system is a robust, fast-reacting sensor that continuously monitors carbon monoxide in the air near the generators. If the CO level exceeds 800 parts per million (ppm) at a given time, or an average of 400 ppm for 10 minutes (per Portable Generators Manufacturers’ Association [PGMA] G300-2018 standards), it makes the generator to shut down automatically. It also notifies the user that excess carbon monoxide has caused the shutdown of the generator.
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Generac is one of the leading manufacturers of power management equipment. The company provides energy-efficient solutions since 60 years. Founded in 1959 it was the first manufacturer of standby generators for home backup. Generac manufacturers the widest range of products in the market for portable, residential, commercial and industrial.
It is a leading energy technology company which provides backup and prime power systems for Industrial and home applications, solar + battery storage solutions, smart home energy management devices and energy services, advanced power grid software platforms and engine- and battery-powered tools and equipment.
