The Portable Generator market is expected to grow at a CAGR of 5.34% to reach USD 7.01 billion in 2030.
Portable generators are made to provide alternating current for standalone and non-hardwired applications. The rising power outages due to changing weather conditions has resulted in a number of uninterrupted power supply. This is a key factor driving demand for the power generators in the global industry. As a result of an increasingly rising building and construction industry, the high use of portable generators also propels the business growth. Power tools of all types are commonly used in the construction sector, such as compressors, drills, air hammers and motors. Portable generators are primarily used for new construction and building projects especially at night and when electricity is not accessible from the power grid station.
The global portable generator market revenue is projected to reach close to USD 2.9 billion by 2028. The growing developments from the market is due to the increasing demand from countries like the United States, Puerto Rico and Mexico. Additionally, highly increasing power outages in developed and developing nations for stable and uninterrupted power supply are projected to push the global portable generator industry over the coming years.
Electricity consumption in sectors such as automotive, defence and gas & oil, IT and telecommunications, aerospace, and agriculture has increased significantly from the last few years. Global electricity demand is projected to rise by 57 per cent from 2018 to 2050 due to increased adoption of electric vehicles. The high demand for continuous power supply is thus forecasted to increase the market growth over the coming years.
Portable Generator Market Scope
|Revenue forecast in 2030
|USD 7.01 billion
|CAGR of 5.34% during 2020-2030
|Fuel, Application, Power Rating, End User, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Honda, Yamaha, Atlas Copco, Generac, and Briggs & Stratton. Moreover, the market comprises several other prominent players in the portable generator market as Kubota, Honeywell, Cummins, Kohler, Siemens, Caterpillar, Wacker Neuson, Eaton.
Key Segment Of The Portable Generator Market
By Application,(USD Billion)
By Based on Fuel,(USD Billion)
• Gasoline (Petrol)
• Natural Gas
• Others (LPG, Propane, and Biodiesel)
By Power Rating,(USD Billion)
• Below 5 kW
• 5–10 kW
• 10–20 kW
By End User,(USD Billion)
Regional Overview, (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
Growing awareness of global warming has resulted in increasing demand for biofuel powered portable generators as a renewable source of energy. Biofuel has same type of features in comparison to the petroleum-based fuels, and can be used in replacement for diesel fuels. Biofuel brings energy conservation to countries like Japan and Italy that import oil and natural gas from other nations. Biofuels can be extracted from canola, recycled cooking oil, soya, animal fats and wheat. Growing demand for generators driven by biofuel would provide industry leaders with a strategy for new developments in the industry. Strict environmental legislation to reduce carbon emissions are essential factors that restricts development in the industry. Mobile generators are subject to federal, national, and local pollution regulations. Environmental bodies such as India 's Central Emission Control Board (CPCB), the US Environmental Protection Agency (EPA), and the Europe Environmental Agency monitor the volume of carbon released by generators into the atmosphere. Moreover, a Form Approval Certificate for each generator is provided for any manufacturer, assembler and importer of portable generators.
Based on the fuel type, the market is segmented into gasoline (petrol), natural gas, diesel, and others. The gasoline (petrol) type leads the market growth in 2019 and it is anticipated to hold its CAGR during the forecast years. The gasoline fuels for the portable generators can be easily purchased from the market due to a number of stations available in the market. Moreover, the economical price of the gasoline fuels anticipates the major demand for the generators in the global industry. The use of fuel type provides a longer life to the product and its capacity to generate heavy outputs, Gasoline portable generators are largely used in the construction, mining, gas and oil industries.
In terms of the application segment, the market is segmented into emergency and prime/continuous. In 2019, the prime/continuous segment accumulated the fastest growth rate and is expected to continue the CAGR trend over the forecast years. Increasing construction activities are expected to create demand for portable generators for prime and continuous power applications in countries such as India, the UAE, China, Saudi Arabia and the US. However, the continuous need of power supply in the heavy machinery equipment industries in all over the globe has anticipated the demand for the prime portable generators in the market.
End Use Segment
In terms of the end use segment, the market is segmented into industrial, residential, and commercial. In 2019, the residential segment accumulated the major market share and is expected to continue the trend over the forecast years. The products are in high demand from the small machinery industries in use for the local manufacturing products. The commercial applications for the products from the industries are generally in the production of machineries such as agricultural, drills, air compressors and vibrators.
The Asia Pacific region dominated the overall market growth with a CAGR of more than 5.5% in 2019 and it is projected to keep its position during the forecast years 2018-2028. The factors such as demographic growth and increasing urbanization throughout the country are expected to boost market development over the coming years. Asia Pacific has one some of the fastest growing economies in the world as China and India. The growing initiatives form the government as green building and smart cities has witnessed a rise in the number of construction activities. This provides a reasonable demand and growth for the portable generators in the regional industry.
A large number of manufacturing facilities in the region from the producers such as Apple Inc., Sony Corporation and Volkswagen as the consumer electronics and automotive manufacturers has provided a high demand in the industry. However, the growing use of portable generators in small shops and for outdoor activities is projected to further boost demand development in the industry. Growing number of building projects in Middle East and Asia Pacific regions is a primary driving force of the global sector. Moreover, the large building and construction companies in the region are focused on acquiring smart and bio-based projects and the factor further drives the demand for portable generators. China and India, with a large number of manufacturing sectors is expected to have a fastest growth for the portable generators in the Asia Pacific market.
The major players of the global portable generator market are Honda, Yamaha, Atlas Copco, Generac, and Briggs & Stratton. Moreover, the market comprises several other prominent players in the portable generator market as Kubota, Honeywell, Cummins, Kohler, Siemens, Caterpillar, Wacker Neuson, Eaton. The portable generator market consists of well-established global as well as local players. Additionally, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.