Portable generators are used to generate electricity in a variety of applications, including residential, commercial, and industrial. The study looks at uses such as generating electricity for live commercial events, powering machines on building sites, and providing backup power during a power outage, among others.
Impact of COVID-19 on Portable Generator Market
Because countries were required to impose lockdowns during the first half of 2020 as a result of COVID-19, the portable generator market has stalled. Governments and municipal governments established strict restrictions, and all non-essential activity were halted. Because end users' operations were halted, this had a negative impact on the portable generator business.
Furthermore, during the second quarter, manufacturing and supply chain delays were seen, posing a challenge to the portable generator market, as end-user industries were still not functioning at full capacity.
Driver: Power outages are becoming more common as a result of ageing grid infrastructure and extreme weather events.
Because energy transmission and distribution infrastructure is the backbone of any country's power industry, ageing grid infrastructure is more sensitive to power outages. Transmission systems that have not been properly modernised will not be able to handle the additional load and, in some situations, will fail, resulting in a power outage. Transmission and distribution networks in wealthy countries were built a long time ago, and even with regular maintenance, the infrastructure is expected to deteriorate beyond a certain age. Coal, gas, and nuclear power facilities can last for about 40 years, according to the National Association of Regulatory Utility Commissioners in the United States. These power generation sources are nearing the end of their useful lives due to a variety of factors.
Furthermore, harsh weather conditions are expected to increase demand for portable generators. The electrical system in the United States is prone to unpredictably frequent power outages. As a result, rising expenditures in backup power solutions, as well as expanding consumer awareness of disaster preparedness, will support market expansion. According to the Department of Energy (DOE) and the North American Electric Reliability Corporation (NERC), uninterrupted power can only be maintained by a system that can handle sudden power spikes and drops. The United States experiences more blackouts than any other developed country, with power outages lasting more than an hour on average, and the number has gradually climbed in recent years. The cost of these blackouts to American firms is estimated to be around USD 150 billion per year.
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