Portable Generator Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Portable Generator Market is segmented by Power Rating (Below 5 kW, 5-10 kW, and Above 10 kW), Fuel Type (Gas, Diesel, and Other Fuel Types), End User (Industrial, Commercial, and Residential), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Portable Generator Industry Overview

Portable Generator Market Summary
Study Period: 2019 - 2028
Fastest Growing Market: Asia-Pacific
Largest Market: Asia-Pacific
CAGR: > 4.2 %

Major Players

Portable Generator Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Portable Generator Market Analysis

The global portable generator market is expected to record a CAGR of more than 4.2% during the forecast period. The outbreak of COVID-19 in 2020 led to the increase in demand for portable power to supply power needs for utility outages or temporary testing and treatment sites, which led to the growth in demand for portable generators worldwide. Factors such as the ever-increasing demand for power, lack of reliable grid infrastructure, the need for emergency backup power solutions, and the demand for steady power supply are driving the portable generator market. Moreover, power outages have led to the adoption of standby power sources and portable generators, which can meet the requirements for reliable and regular electricity supply and can also be transported easily. However, increasing demand for battery storage systems and other cleaner sources of standby power is expected to restrain the growth of the portable generators market.

· The residential end-user segment is expected to be a major market for portable generators during the forecast period. It accounts for 20% of the power demand globally due to population growth, urbanization, and several other factors.

· The commercial and industrial sectors of emerging economies, the residential sector of developed economies, and the increasing need for power in defense operations are expected to create significant opportunities for market participants in the near future.

· Asia-Pacific accounted for the largest share of the market in 2020, with the majority of the demand coming from countries such as China and India.

Portable Generator Industry Segments

The portable generator market report includes:

Power Rating
Below 5 kW
5-10 kW
Above 10 kW
Fuel Type
Gas
Diesel
Other Fuel Types
End User
Industrial
Commercial
Residential
Geography
North America
Europe
Asia-Pacific
South America
Middle-East and Africa

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Portable Generator Market Trends

This section covers the major market trends shaping the Portable Generator Market according to our research experts:

Residential Sector to be a Significant Market Segment

· The residential segment of the portable generators market is predicted to expand and drive the market, majorly driven by the prevalent installation of gensets across households to ensure the availability of emergency power supply in the event of a blackout or grid failure.

· According to the Energy Information Administration (EIA), about 70% of the increase in residential energy consumption is occurring in Asia-Pacific, led by China and India, as standards of living increase and as demand for lighting and energy-using appliances and equipment increases. For instance, in 2020, residential power consumption reached 1,090 Terrawatt Hours (TWh), representing a growth of 69% Y-o-Y from 2019.

· India is expected to experience the fastest relative growth in per person residential energy use because of increased access to energy sources, so the increasing number of power outages in the residential sector is expected to boost the demand for portable generators over the forecast period.

· Therefore, rising concerns about power instability in the residential sector due to events such as natural calamities and the need for uninterrupted operations are driving the portable generator market.

Portable Generator Market: Revenue Share (%), by End-User, Global, 2020

Asia-Pacific to Dominate the Market

· The portable generator market in the Asia-Pacific region was valued the highest in 2020 and is expected to dominate the market over the forecast period.

· China is expected to lead the market in the Asia-Pacific region owing to increasing infrastructure projects, widening power demand-supply gap, expansion of manufacturing facilities across the nation, and increasing commercial office spaces. The country benefits from the cost and effectiveness of portable generators, with improved living standards increasing the demand for power backup devices.

· In India, the government had made a provision of INR 3 trillion for the Micro Units Development and Refinance Agency (MUDRA) scheme. Under the scheme, micro-units can avail up to INR 10 lakhs and an additional INR 3,794 crore for Micro, Small, and Medium Enterprises (MSMEs) for credit, capital support, interest subsidy, and promotion of innovations. Such initiatives are expected to drive the growth of small- to mid-size industries, which are expected to provide a significant boost to the portable generators market.

· The development of infrastructure and industrial growth coupled with rising disposable incomes in the region has led to a surge in demand for electricity. Further, the population growth has led to increased urbanization in the region, which has led to a surge in the demand for electricity, which, in turn, has led to growth in the requirements for standby power sources.

Portable Generator Market - Growth Rate by Region, 2022-2027

Portable Generator Market Competitor Analysis

The portable generator market is moderately fragmented. Some of the key players in this market include Generac Holdings Inc., Caterpillar Inc., Kohler Power Systems, Honda Siel Power Products Limited, and Briggs & Stratton Corporation.

Portable Generator Market Top Players

  1. Generac Holdings Inc.

  2. Caterpillar Inc.

  3. Honda Siel Power Products Limited

  4. Briggs & Stratton Corporation

  5. Kohler Power Systems

*Disclaimer: Major Players sorted in no particular order

Portable Generator Market Concentration

Portable Generator Market Recent Developments

· In January 2022, Honda announced plans to begin sales of its new EU32i portable generator equipped with a newly designed dedicated engine (with a maximum output of 3.2kVA). The company also revealed that sales would begin in the European region in March 2022, followed by the expansion of sales to other regions globally.

· In June 2021, Generac Holdings Inc. announced that the company had acquired Deep Sea Electronics Limited, an advanced controls designer and manufacturer. Deep Sea Electronics provides a diverse suite of controller products that provide flexible solutions for multiple applications, including generators, automatic transfer switches, battery charging, and off-highway vehicles.

Portable Generator Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 4.3 Recent Trends and Developments

    4. 4.4 Government Policies and Regulations

    5. 4.5 Market Dynamics

      1. 4.5.1 Drivers

      2. 4.5.2 Restraints

    6. 4.6 Supply Chain Analysis

    7. 4.7 Porter's Five Forces Analysis

      1. 4.7.1 Bargaining Power of Suppliers

      2. 4.7.2 Bargaining Power of Consumers

      3. 4.7.3 Threat of New Entrants

      4. 4.7.4 Threat of Substitutes Products and Services

      5. 4.7.5 Intensity of Competitive Rivalry

    8. 4.8 Assessment of the COVID-19 Impact on the Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 Power Rating

      1. 5.1.1 Below 5 kW

      2. 5.1.2 5-10 kW

      3. 5.1.3 Above 10 kW

    2. 5.2 Fuel Type

      1. 5.2.1 Gas

      2. 5.2.2 Diesel

      3. 5.2.3 Other Fuel Types

    3. 5.3 End User

      1. 5.3.1 Industrial

      2. 5.3.2 Commercial

      3. 5.3.3 Residential

    4. 5.4 Geography

      1. 5.4.1 North America

      2. 5.4.2 Europe

      3. 5.4.3 Asia-Pacific

      4. 5.4.4 South America

      5. 5.4.5 Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Generac Holdings Inc.

      2. 6.3.2 Caterpillar Inc.

      3. 6.3.3 Honda Siel Power Products Ltd

      4. 6.3.4 Briggs & Stratton Corporation

      5. 6.3.5 Kohler Power Systems

      6. 6.3.6 Wacker Neuson SE

      7. 6.3.7 Atlas Copco AB

      8. 6.3.8 Eaton Corporation PLC

      9. 6.3.9 Yamaha Motor Co. Ltd

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Portable Generator Market Research FAQs

The Portable Generator Market is studied from 2019 - 2028.

The Portable Generator Market is growing at a CAGR of >4.2% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2019 - 2028.

Asia-Pacific holds highest share in 2021.

Generac Holdings Inc., Caterpillar Inc., Honda Siel Power Products Limited , Briggs & Stratton Corporation, Kohler Power Systems are the major companies operating in Portable Generator Market.

Portable Generator Industry Reports

In-depth industry statistics and market share insights of the Portable Generator sector for 2020, 2021, and 2022. The Portable Generator research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Portable Generator report PDF.

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