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The portable generator market size is forecast to increase by USD 2.16 billion between 2023 and 2028, accelerating at a CAGR of 5.79%. The market experiences significant growth due to the challenges posed by power infrastructure in coping with urbanization and industrialization. The inadequacy of power grids to meet increasing energy demands results in frequent power outages. Moreover, the escalating occurrences of power grid failures and natural calamities exacerbate the issue. Portable generators offer a reliable solution, providing uninterrupted power supply during power outages and emergency situations. Their compact size and mobility make them an essential backup power source for both residential and commercial applications. The market's growth is further fueled by advancements in generator technology, ensuring improved efficiency, reliability, and safety.
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In the face of power grid vulnerabilities and the looming threat of blackouts, portable generators offer a dependable source of power for residential activities, small and medium enterprises, and multinational companies alike. Their efficient fuel capacity and eco-friendly fuel options mitigate concerns over carbon monoxide and particulate matter emissions, aligning with emission reduction targets and advancing clean energy technology. The market landscape depends on Storms, Fog, Regular power supply, Tailgating, Recreational Vehicles, blackout, business parks, housing societies, apartments, tsunamis. As electricity bills soar and the need for emergency preparedness grows, portable generators cater to a wide spectrum of users, from outdoor event organizers to recreational vehicle enthusiasts, ensuring resilience in the face of harsh weather conditions and natural disasters. With innovations in battery energy storage systems and solar-powered solutions, the market continues to evolve, empowering individuals and businesses to navigate power outages with confidence.
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 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 3.36 Billion in 2018. 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 44% 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.
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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 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.
The Market is fragmented in nature. Some significant players include Caterpillar and Atlas Copco AB,
Briggs and Stratton LLC: The company offers engines for outdoor power equipment.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
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 market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
The Market is witnessing unprecedented growth fueled by the increasing demand for emergency backup power solutions in various scenarios such as natural disasters, outdoor events, and construction sites. With grid infrastructure vulnerabilities becoming apparent, dependable backup power solutions are essential for ensuring continuity in power delivery. Amidst the uncertainties of natural catastrophes and extreme weather events, the Market stands as a beacon of reliability, ensuring uninterrupted power supply in times of need. With traditional power supply often vulnerable to disruptions, portable generators offer essential backup power supply solutions for a wide array of applications. From powering emergency services and critical medical equipment to facilitating outdoor leisure activities and job sites, portable generators harness mechanical energy through engine-driven alternators to provide crucial electrical energy. They cater to diverse needs, from battery charging for electronic gadgets during camping excursions to illuminating off-highway vehicles and events organized in remote locations.
From camping enthusiasts seeking reliable power during outdoor excursions to small businesses and farms in rural areas, portable generators offer a lifeline during power outages caused by extreme weather occurrences like hurricanes, earthquakes, and wildfires. These generators, powered by diverse fuel sources including gasoline, propane, and natural gas, provide versatile solutions for a wide range of applications.The market is witnessing a shift towards cleaner standby power sources such as gaseous-based generators and hybrid generators, driven by concerns over carbon emissions and environmental impact. Battery storage systems are also gaining traction, offering efficient and eco-friendly alternatives to traditional fuel-based generators. In residential settings, commercial spaces, and construction activities, portable generators play a crucial role in ensuring uninterrupted power supply, especially in areas prone to blackouts and metro cities where the grid infrastructure may be strained.As energy storage technology advances and renewable energy options become more accessible, the market is poised for further innovation, catering to the evolving needs of residential and commercial sectors alike. With a focus on emission reduction and energy efficiency, portable generators are set to become indispensable assets in the quest for sustainable power solutions.
Market Scope |
|
Report Coverage |
Details |
Page number |
180 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.79% |
Market growth 2024-2028 |
USD 2.17 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.39 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 44% |
Key countries |
China, US, Germany, Japan, 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 analysis, market research and growth, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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