Market Size of Portable Generator Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 5.53 Billion |
| Market Size (2029) | USD 7.35 Billion |
| CAGR (2024 - 2029) | 5.86 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Portable Generator Market Analysis
The Portable Generator Market size is estimated at USD 5.53 billion in 2024, and is expected to reach USD 7.35 billion by 2029, growing at a CAGR of 5.86% during the forecast period (2024-2029).
Over the medium term, 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.
On the other hand, Portable generators face tough competition from battery storage systems. Also, other cleaner sources of standby power are expected to hinder the portable generators market.
Nevertheless, 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.
North America is expected to have a significant market share, with the majority of the demand coming from countries such as the United States and India.
