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The portable generator market size is forecast to increase by USD 2.20 billion between 2022 and 2027, accelerating at a CAGR of 6.14%. In 2017, China held the largest market share, projecting an annual revenue of USD 0.83 billion.The report includes a comprehensive outlook on the Portable Generator Market, offering forecasts for the industry segmented by Type , which comprises Diesel and Gas. Additionally, it categorizes End-user into Residential, Commercial, and Industrial and infrastructure and covers geographical regions, including APAC, Europe, North America, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2017 to 2021, and future projections, all presented in terms of value in (USD Billion/billion) for each of the mentioned segments..
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Growing instances of power grid failure is a key factor boosting market growth. The global use of portable generators is on the rise due to increased power grid failures. In today's world, electricity is vital for various applications, from transportation and computers to everyday household devices. Rapid urbanization in developing countries has led to higher power consumption, straining older infrastructure and causing grid overloads, resulting in blackouts.
To counter these issues, industrial consumers are increasingly turning to portable generators for backup power during outages. These generators support smooth operations across various applications. The rising occurrence of power grid failures is expected to drive growth in the global portable generator market in the forecast period.
The diesel segment will account for a major share of the market's growth during the forecast period and was valued at USD 3,304.54 Billion in 2017. Portable generators powered by diesel offer the best performance in power fluctuations due to their high-torque performance characteristic. Diesel is the most commonly used fuel in portable generators because it is cost-effective and readily available. It can be stored in containers up to a certain time. Natural gas is supplied through pipeline infrastructure and cannot be stored like diesel. The increasing stringency of regulations regarding fuel emissions, particularly from diesel, has resulted in end-users switching to gas generators or other power supply alternatives, such as UPS. However, due to the cost-effectiveness and availability of diesel and the ease of use of portable diesel generators, the portable diesel generators type segment is expected to show growth and boost the growth of the market in focus during the forecast period.
APAC is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Developing countries in APAC, such as India, China, and South Korea, are showing rapid industrialization and urbanization. The population in this region is rising at a higher rate compared to the developed countries. Electricity demand is rising due to the ever-rising population. Poor power infrastructure in Asian countries causes power outages, which increases the demand for portable generators for power backup. The growth of the portable generator market in APAC can be shown due to the rising demand from the residential, commercial, and several small-scale industries. Owing to power shortages and lack of access to the grid, backup power sources have become a necessity in the region. The market in focus in the region is expected to register significant growth during the forecast period. z
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The Portable Generator Market is fragmented in nature. Some significant players include Caterpillar and Atlas Copco AB,
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Briggs and Stratton LLC, Caterpillar Inc., Cummins Inc., Deere and Co., Doosan Corp., Eaton Corp. Plc, Generac Holdings Inc., H.S. ENGINEERS, Himalayan Power Machines Co., Honda Motor Co. Ltd., Honeywell International Inc., ITOCHU Corp., KAZANCI HOLDING, Kirloskar Oil Engines Ltd., Siemens AG, Skyline Power Solutions, Wacker Neuson SE, Yamaha Motor Co. Ltd., and Yanmar Holdings Co. Ltd.
The portable generator market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2027.
Portable Generator Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.14% |
Market growth 2023-2027 |
USD 2.20 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.21 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 43% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Atlas Copco AB, Briggs and Stratton LLC, Caterpillar Inc., Cummins Inc., Deere and Co., Doosan Corp., Eaton Corp. Plc, Generac Holdings Inc., H.S. ENGINEERS, Himalayan Power Machines Co., Honda Motor Co. Ltd., Honeywell International Inc., ITOCHU Corp., KAZANCI HOLDING, Kirloskar Oil Engines Ltd., Siemens AG, Skyline Power Solutions, Wacker Neuson SE, Yamaha Motor Co. Ltd., and Yanmar Holdings Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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