The Global Portable Generators Market size was worth US$ 2.14 billion in 2022 and is anticipated to have a value of US$ 3.02 billion by 2028 and to reach the register a CAGR of 6.20% during 2023-2028.
Market Overview:
A portable generator is an electrical device that often burns gas or diesel and calculates power in hours rather than days. It is composed of a miniature turbine that an engine turns, creating useable electricity up to a predetermined wattage. Users can access the generator by directly inserting electrical equipment or appliances into the sockets on the generator, or it can be properly connected to the sub-panel of a residence. It has enough power to run a television, a freezer, a refrigerator, and a few lights.
The market for portable generators is expected to develop as demand for power backup facilities, low-cost, diesel-fueled generators, natural gas-fueled generators, and increased consumer awareness of portable generators all increase. However, due to the short duration of power supply and strict environmental laws regarding the emission of harmful gases from diesel generators, the market growth for portable generators is constrained.
Market Drivers:
The primary factor that is propelling the global portable generators market growth is the increasing number of power outages caused by severe weather and inadequate grid infrastructure. Transmission and distribution of electricity form the backbone of any nation's power sector, therefore as grid infrastructure ages, it becomes more prone to power outages. Increased power needs cannot be supported by outdated transmission networks, which in some cases may even fail and cause a power outage. Transmission and distribution networks were established in developed nations quite some time ago, and despite normal maintenance, the infrastructure will inevitably deteriorate over time. Furthermore, a rise in demand for portable generators is anticipated due to extreme weather. The US electrical grid is vulnerable to frequent and unforeseen power disruptions. As a result, greater consumer interest in backup power solutions and increased consumer awareness of disaster preparedness will both contribute to the global portable generators market expansion.
On the other hand, increasing usage of inverter portable generators further propels the global portable generators market growth in the upcoming years. The majority of OEMs provide hybrid generators, which are typically internal combustion engines with batteries. These hybrid generators directly power the engine when the load is high; when the load is low, the battery powers the engine. They are superior to conventional generators in a variety of ways, including reduced running time, fuel consumption, and noise. They are also anticipated to gain traction in the market for mobile generators, which are mainly used on construction sites and in homes.
Market Restraints:
While generators can produce power, they can only be utilized temporarily or in an emergency and cannot take the place of a utility's regular power supply. Generators can only support a certain amount of load, which further restricts the global portable generators market growth during the forecast period.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2022 – 2028 |
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Base Year |
2022 |
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Forecast Period |
2023 - 2028 |
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CAGR |
6.20% |
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Segments Covered |
By Fuel Type, Power Output, Application, and Region. |
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Various Analyses Covered |
Global, Regional and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Caterpillar, Inc., Cummins, Inc., Yamaha Motor Co., Ltd., Honda Siel Power Products Limited, Kohler Co, Atlas Copco, Briggs & Stratton, Generac, Eaton, Honeywell, and Others. |
Market Segmentation:
Based on fuel type, gasoline holds the largest portable generators market share during the forecast period. Short-term, irregular, or low-load applications are where portable gasoline generators are most frequently used. Gasoline is the most extensively used and practical fuel, yet it is exceedingly combustible and risky to store in large quantities. Additionally, gasoline costs are rather expensive, and it often uses the least amount of fuel to power a generator, at least for extended periods of time.
The market for power ratings of 3-10kW is anticipated to expand rapidly between 2022 and 2027, with a CAGR of xx%. A few examples of equipment that can be powered by portable generators between 3 and 10 kW are pumps, air conditioners, drills, high-pressure washers, and industrial motors. More electricity is required for these devices to function. They mostly run on diesel, natural gas, and propane as fuels. The market for these generators is anticipated to grow due to increased awareness of indoor power backup and the rising need for portable powering systems for outdoor recreational activities.
The residential end-user category is anticipated to expand quickly between 2022 and 2027, with a CAGR of xx%. The expansion of the residential end-user segment is attributable to the unreliability of electrical networks. The demand for portable generators in the residential end-user segment is also fueled by areas that are susceptible to natural disasters and unexpected power disruptions. With a 6 kW maximum power output, portable generators are frequently used by residential end users. These generators are used in emergency situations to power a variety of appliances in houses, including lights, refrigerators, sump pumps, heaters, TVs, and air conditioners. Camping trips and tailgating parties are two more occasions when portable generators are used.
Market Regional Analysis:
The Global Portable Generators Market Report includes the segmentation of Regions:
During the forecast period of 2022–2027, the North American region is anticipated to lead the portable generator market. By 2027, it is anticipated that North America will have the biggest market share, or xx%. Natural disasters and aging grid infrastructure both contribute to frequent power outages, and the industrial sector's constant demand growth is growing the region's market. North America's and the world's portable generator markets are dominated by the United States.
The Asia Pacific region is anticipated to experience strong growth from 2022 to 2027 at a CAGR of xx%. This is brought on by a number of elements, notably the expansion of the building and development industries. China, India, Japan, and Thailand are the largest markets in the Asia Pacific area. China has the greatest market share in the region as a result of its expanding industrialization and urbanization.
Market Key Players:
Market Recent Developments:
Frequently Asked Questions
The Portable Generators Market size was worth US$ 2.14 billion in 2022 and is anticipated to have a value of US$ 3.02 billion by 2028
The North American region is expected to have the largest market share of the global Portable Generators Market.
Generac, Eaton, and Honeywell are the global Portable Generators Market key players.
Due to the short duration of power supply and strict environmental laws regarding the emission of harmful gases from diesel generators, the market growth for portable generators is constrained.
The primary factor that is propelling the global portable generators market growth is the increasing number of power outages caused by severe weather and inadequate grid infrastructure.
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