The Global Portable Generator Market Size was Worth USD 4.69 billion in 2022 and is Estimated to Grow to USD 7.30 billion by 2030, with a CAGR of Approximately 5.7% Over the Forecast Years From 2023 To 2030.
Portable Generator Market Overview
A gas-powered engine within portable generators produces electricity through an onboard alternator. The unit’s electrical outlets may accommodate extension cables, electric-powered equipment, and similar appliances. A country’s ability to advance economically depends on its access to electricity, yet many nations need more grid infrastructure. Small and medium-sized businesses (SMEs) and commercial areas need to be improved by an adequate power supply. Portable gensets support the growth of the portable genset market by guaranteeing a continuous energy supply and a dependable power source in the case of a blackout. However, the market’s expansion is hampered by strict environmental laws regarding the emission of dangerous gases from generators, including carbon monoxide, carbon dioxide, nitrous oxide, and others.
Grid infrastructure in emerging economies needs to be improved to support growth. Due to a lack of grid infrastructure, millions worldwide need access to power. A combination of rapid population expansion increased energy demand, and inadequate energy infrastructure mostly affects emerging nations. The use of portable generators for dependable power supply by housing societies, flats, businesses, and SMEs has improved the outlook for the portable generator industry.
Government and international authority initiatives to increase access to electricity to restrain growth. Developing nations are seriously noting the frequent power outages and insufficient electricity supply. The market’s potential is anticipated to be constrained by local governments’ growing desire to upgrade the grid infrastructure to satisfy consumer demand. Additionally, growing worries about greenhouse gas emissions and changing tendencies toward clean energy technologies are expected to restrain market expansion.
The global portable generator market has been segmented into fuel, power rating, end-user, and applications.
- Based on fuel, the market is segmented into gasoline (petrol), diesel, natural gas, and others (LPG, propane, and biodiesel). The diesel generators category had the highest growth in 2021. Due to its benefits, including better efficiency, being more affordable than gasoline, and being durable, diesel is primarily utilized as Fuel in household generators. Diesel generators are driving the portable generator market trends since they are extremely dependable and can handle huge loads for an extended period. For the segment below 5kVA, the residential market is projected to present sizable opportunities. These portable, adaptable generators save lives by providing constant electricity during natural disasters. Dependable equipment can reduce frequent power outages and prevent blackouts in the case of a grid breakdown.
- Based on application, the market is segmented into emergency and prime/continuous. The prime/continuous segment accounted for the largest share of the global portable generator market in 2021. Prime power generators are accessible for a limited number of hours in non-variable load situations. In contrast, continuous power generators are used in applications at a constant 100% load for unlimited hours.
- In 2021, Asia-Pacific is predicted to lead the global portable generator market share and substantially contribute to the home generator industry. Emerging economies like China and India, making significant investments in the energy and power industry, are credited with the development. Millions of people in this region still lack access to power, which might fuel the expansion of the portable genset, despite government investments in grid infrastructure. Portable generators are frequently utilized in several industries in this region to give backup or continuous power supply for public events or in case of a natural tragedy. Additionally, this area has great potential for economic growth, and several global corporations are investing in various industrial verticals. Therefore, a portable generator is the best alternative for providing power supply in distant areas and preventing frequent power outages.
Portable Generator Market: Competitive Landscape
- Some of the main competitors dominating the global Portable Generator market include Honda (Japan), Generac (US), Yamaha (Japan), Cummins (US), Atlas Copco (Sweden), Briggs and Stratton (US), Generac (US), Caterpillar Inc. (US), Honeywell International Inc. (US), Siemens (Germany), Waucker Neuson (Germany), Rato Europe (Italy), Kohler (US), Champion Power Equipment (US), Inmesol (Spain), Himoonsa (Spain), Duromax (California), Wen portable generators (US)
- January 2021: The QES portable generator range from Atlas Copco has been increased to 500 kVA. In addition to operating continuously for up to 500 hours in both extremely hot and low temperatures, this enables the generators.
- March 2021: According to Generac Power Systems, Powermate portable generators have undergone a thorough makeover. Ten portable generator modules make up the new lineup, almost entirely satisfying demand and making life easier for homeowners.
On the market for portable generators worldwide, COVID-19 made a significant impact. The global market for portable generators has stopped due to the nation’s authorities imposing severe lockdowns and regulations. Governments and local governments imposed tight limitations. The end users’ everyday operations were halted, and all non-essential activities were terminated; this affected the portable generator industry. Unexpected growth in industrial automation has resulted from the rising digital revolution caused by technical improvement in the IT sector that viral outbreaks have overshadowed.
The global Portable Generator market is segmented as follows:
Portable Generator Market by Application Outlook (Revenue, USD Million, 2017 – 2030)
Portable Generator Market by Fuel Outlook (Revenue, USD Million, 2017 – 2030)
- Gasoline (Petrol)
- Natural Gas
- Others (LPG, Propane, and Biodiesel)
Portable Generator Market by Power Rating Outlook (Revenue, USD Million, 2017 – 2030)
- Below 5 kW
- 5-10 kW
Portable Generator Market by End User Outlook (Revenue, USD Million, 2017 – 2030)
Portable Generator Market by Region Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- The UK
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
|Portable Generator Market Report Scope
|Market Size Value in 2022
||USD 4.69 billion
|Revenue Forecast in 2030
||USD 7.30 billion
||CAGR of 5.7 % from 2023 to 2030
|Base Year for Estimation
||2017 – 2022
||2023 – 2030
||Revenue in USD million and CAGR from 2023 to 2030
||Revenue forecast, company ranking, Trends
competitive landscape, and growth factors
||Application, Fuel Type, Power Rating, End User, and Region
||North America; Europe; Asia Pacific; Latin America; Middle East & Africa
||U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others
|Key Companies Profiled
||Honda (Japan), Generac (US), Yamaha (Japan), Cummins (US), Atlas Copco (Sweden), Briggs and Stratton (US), Generac (US), Caterpillar Inc. (US), Honeywell International Inc. (US), Siemens (Germany), Waucker Neuson (Germany), Rato Europe (Italy), Kohler (US), Champion Power Equipment (US), Inmesol (Spain), Himoonsa (Spain), Duromax (California), Wen portable generators (US)