Portable Generator Market Size & Share, by Fuel Type (Gasoline, Diesel, Natural Gas); Application (Emergency, Prime/Continuous); Power (Below 5 kW, 5-10 kW, 10-20 kW); End-user (Residential, Commercial, Industrial) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3236
  • Published Date: Mar 06, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Portable Generator Market size is expected to cross USD 7 Billion by the end of 2035, growing at a CAGR of 6% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of portable generator was USD  5 Billion. In the case of power blackouts that are typically caused by gear drives not being properly updated and maintained, this industry is expected to develop. In view of the fact that power grids are not able to handle the load and cause frequent blackouts, rising electricity consumption has a positive impact on the market. The IEA expects the world's energy use to increase by 4 % in 2018 and reach more than 23,000 TWh.

A number of factors like increasing investments in alternative energy solutions, as well as increased consumer awareness on the importance of disaster preparedness, are also expected to have an impact on the portable generator market. New problems in the supply of electricity, combined with existing issues, caused catastrophic blackouts affecting more than four percent of the global population or at least 350 million people by 2021.


Portable Generator Market
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Portable Generator Sector: Growth Drivers and Challenges

Growth Drivers

  • Ageing Infrastructure of Electricity Grid- The need for generators would undoubtedly increase, given that power grids are outdated and unable to meet the world's energy needs. A solution to this problem has also been achieved through the inclusion of smart grid networks. Nearly 70 % of transmission and distribution networks across the USA had exceeded their anticipated lifetimes by more than 50 years.
  • Rising Awareness of Global Warming- Many portable generators use biofuel, which is less demanding on the earth's environment. Small households can be powered by electric generators with high bioethanol as a biofuel production. According to NOAA's 2021 Annual Climate Report, the combined land and ocean temperature has increased at an average pace of 0.14º F every ten years since 1880. However, the average growth rate since 1981 has been 0.32º F each decade, which is more than twice as fast.
  • Rising Construction Activities- Portable generators are the source of power for a wide range of tools used often in the construction sector, including drives, drills, air hammers, and compressors. In 2021, France had more residential buildings than any other nation in Europe, with over 471,000 homes being built. Germany came in second with 310,000 homes being built.

Challenges

  • Release of Toxic Gases into the Atmosphere- Portable generators (PG) emit the hazardous gas carbon monoxide (CO). CO is an invisible gas that is colorless and odorless and has an instantaneous lethality. It sickens countless more people while also taking hundreds of lives every year. They cannot be used inside homes or garages, even with windows and doors open, due to high carbon monoxide emissions. Therefore, it is anticipated that the risk to human health will impede the expansion of the portable generator business.
  • Loud Noises are Often Connected to Generators
  • Generators with Limited Operating Times

Portable Generator Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~ 6%

Base Year Market Size (2022)

 ~ USD 5 Billion

Forecast Year Market Size (2035)

 ~ USD 7 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Portable Generator Segmentation

Application (Emergency, Prime/Continuous)

The emergency segment is estimated to hold about 65% share of the portable generator market by the end of 2035. The segment's expansion can be linked to the trend towards longer power outages, which was followed by an increase in portable generators' running capacities. When natural disasters like heat waves, storms, and torrential rains damage the distribution system and transmission, emergency portable generators are typically deployed. For instance, a massive power outage in Bangladesh occurred in 2022 as a result of an unknown grid failure. The greatest blackout in history, affecting 140 million people in Bangladesh, occurred there.

Fuel Type (Gasoline, Diesel, Natural Gas)

The gasoline segment is expected to have the largest share of about 45% in the portable generator market. The segment is predicted to develop since petrol is easily accessible, has a longer range, produces less noise, and they are more consumed by people. About 135 billion gallons of gasoline were consumed by Americans in 2021, including 134.83 billion gallons of finished motor gasoline, or 369 million gallons per day.

Our in-depth analysis of the global market includes the following segments:

        Fuel Type

  • Gasoline
  • Diesel
  • Natural Gas

        Application

  • Emergency
  • Prime/Continuous

          Power

  • Below 5 kW
  • 5-10 kW
  • 10-20 kW

          End User

  • Residential
  • Commercial
  • Industrial

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Portable Generator Industry - Regional Synopsis

APAC Market Forecast

The Asia Pacific portable generator market is projected to hold the largest share of about 32% during the forecast period. The market's expansion may be largely due to the increase in urbanization, and industrialization. Additionally, it is predicted that a number of government initiatives to expand the residential sector in nations like China and India will accelerate market expansion. For instance, the federal government of India plans to construct 20 million inexpensive homes in urban areas around the nation as part of the Pradhan Mantri Awaas Yojana.

North America Market Statistics

The North America region is projected to hold the significant revenue share of about 26% by the end of 2035. The region's market is predicted to rise as a result of an increase in power outages, which would increase demand for generators. In 11 upstate counties, there was an emergency due to the snowfall that affected New Yorkers. Additionally, a number of catastrophic weather events in 2021 put pressure on the electricity grids in the United States. An average of seven hours and 20 minutes without power were experienced by households; more than five of those hours and 20 minutes, or roughly 72% of them, were brought on by extreme weather events like hurricanes, wildfires, and snowstorms.

Research Nester
Portable Generator Market Size
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Companies Dominating the Portable Generator Landscape

top-features-companies
    • Atlas Copco
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Eaton Corporation plc
    • Siemens AG
    • Caterpillar
    • Himoinsa S.L.
    • KUBOTA Corporation
    • Yanmar Holdings Co., Ltd.
    • Wacker Neuson SE
    • Honeywell International Inc.
    • Briggs & Stratton, LLC

In the News

  • Cummins Inc. launched two new invertor-generator QG 2800i and 2500i that make 60% lesser noise. They work on gasoline and liquid propane, made primarily for Class B and truck campers.
  • Atlas Copco has expanded its QES portable generator range up to 500 kVA. This enables the generators to perform continuously for up to 500 hours and in extreme high and low temperatures.

 

Author Credits:  Dhruv Bhatia


  • Report ID: 3236
  • Published Date: Mar 06, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The rise in issues of power cuts, increasing industrialization and urbanization and the need to reduce the stress caused by global warming are the major factors driving the market growth

The market size of portable generator is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Eaton Corporation plc, Siemens AG, Caterpillar, Himoinsa S.L., KUBOTA Corporation, Wacker Neuson SE, Honeywell International Inc., Briggs & Stratton, LLC, Honda Motor Co., Ltd., and others.

The emergency segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Portable Generator Market Report Scope
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