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 around 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.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~ 6% |
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Base Year Market Size (2022) |
~ USD 5 Billion |
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Forecast Year Market Size (2035) |
~ USD 7 Billion |
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Regional Scope |
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Growth Drivers
Challenges
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:
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Fuel Type |
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Application |
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Power |
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End User |
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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.
Author Credits: Payel Roy, Dhruv Bhatia
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