Portable Generator Market Size Report, Industry Share, Analysis, Growth, 2030

Portable Generator Industry Prospective:

The global portable generator market size was worth around USD 3.9 billion in 2022 and is predicted to grow to around USD 5.9 billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.5% between 2023 and 2030.     

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Portable Generator Market: Overview

When a traditional power source is unavailable or unstable, a portable generator can be used to generate energy. Portable generators are small and adaptable power-producing tools. These generators are frequently portable, lightweight, and useful for a variety of uses, including camping, outdoor gatherings, construction sites, and emergency backup power during blackouts or natural disasters.

There are many different power capabilities and fuel kinds for portable generators, including gasoline, diesel, propane, and natural gas. Through the use of an engine-driven alternator, they work to convert mechanical energy into electrical energy, allowing customers to operate necessary appliances, electronics, and lights while assuring comfort and convenience in a variety of settings.

Key Insights

• As per the analysis shared by our research analyst, the global Portable Generator market is estimated to grow annually at a CAGR of around 5.5% over the forecast period (2023-2030).
• In terms of revenue, the global Portable Generator market size was valued at around USD 3.9 billion in 2022 and is projected to reach USD 5.9 billion, by 2030.
• The increasing demand for portable generators for emergency use is expected to propel the portable generator market growth.
• Based on the product, the gasoline generator segment is expected to capture the largest market share over the forecast period.
• Based on the application, the emergency segment is expected to dominate the market during the forecast period.
• Based on the end-use, the residential segment is expected to grow at the highest CAGR over the forecast period.
• Based on region, the Asia Pacific is expected to dominate the market over the forecast period.

Portable Generator Market: Growth Drivers

Increased frequency of power grid breakdown drives market growth

Due to an increase in power grid breakdowns, portable generator use is expanding globally. Electricity is a necessary component of many modern technologies, including computers, home appliances, and transportation. Blackouts have been caused by increased electricity usage in emerging nations' rapid urbanization, which has put a strain on their aging infrastructure and grid.

Industrial users are increasingly using portable generators as backup power sources during blackouts to address these problems. These generators provide seamless operation across a range of applications. During the projected period, the worldwide portable generator market is anticipated to rise due to the increasing frequency of power grid breakdowns.

Portable Generator Market: Restraints

Stringent environmental regulation limits market expansion

The portable generator market's expansion is hampered by strict environmental laws regarding generator emissions of dangerous gases such as carbon monoxide, carbon dioxide, nitrous oxide, and others. The Central Pollution Control Board (India), the United States Environmental Protection Agency, and other regulatory agencies have established standards to limit dangerous pollutants from diesel generator exhaust systems.

Portable Generator Market: Opportunities

Growing product launches offer a lucrative opportunity for market growth

The growing product launches offer a lucrative opportunity for portable generator industry growth during the forecast period. For instance, in May 2023, to replace its wildly successful Power Solutions Center desktop application, which was utilized for generator size and specification for KOHLER North American industrial goods, Kohler Power Systems released a web-based alternative.

Users have immediate access to technical data on KohlerPower.com, such as product guide specifications, building information modeling (BIM) files, product drawings, and genset performance statistics, by using the free Power Solutions Center (PSC) program. To improve user experience and produce a more effective in-field solution for proper generator sizing and specification, the new web-based Power Solutions Center has been launched.

The National Electric Code requirement for fire pumps has an impact on generator sizing, so new features include automatic software updates when new products are released, a new variable frequency drive (VFD) with a ramp motor starting option, and a Fire Pump bypass selection that can be turned on and off. In addition to other features, this edition provides a simple drag-and-drop load management interface, a built-in one-line diagram and steps report, pre-populated engineering tools, and a direct link to Kohler partners for hassle-free bids and support. Thereby, driving the revenue growth.

Portable Generator Market: Challenges

Emerging alternative power source poses a challenge to market growth

Portable generators are under competition from alternative power sources that are becoming more widely available and used, such as solar panels and battery storage devices. Even though they could have their restrictions, these alternatives provide cleaner and quieter power options. Thus, posing a major challenge to the market growth.  

Portable Generator Market: Segmentation

The global Portable Generator industry is segmented based on product, power range, application, end-use, and region.

Based on the product, the global market is bifurcated into diesel generators, gaseous generators, gasoline generators, and others. The gasoline generator segment is expected to capture the largest market share over the forecast period.

A gasoline generator is a portable power source that enables the use of different equipment, including home appliances, tools for building, and other tools. For residential homes, vacation homes, and commercial buildings, it serves as a dependable backup power supply. Compact power plants offer one more important benefit that makes many homeowners wish to purchase a gasoline generator.

The generator may specifically be utilized in a variety of settings, including construction and domestic use. Also utilized on picnics and research excursions are gasoline generators. Thereby, driving the segment expansion over the forecast period.

Based on the power range, the portable generator industry is bifurcated into Low Power (8-20KW), Medium Power (21-370KW), and High Power (371-450KW).

Based on the application, the global portable generator market is bifurcated into prime/continuous and emergency. The emergency segment is expected to dominate the market during the forecast period. The requirement for dependable backup power during power outages or crises is what essentially drives the need for portable emergency generators.

Emergency generators are frequently utilized in home and business settings since they are primarily intended to supply backup power in the case of an outage or power loss. These generators are often portable and smaller in size, making them simple to install and carry. The need for emergency generators is further fueled by the fact that many locations' outdated power infrastructure has raised the danger of power outages.

Based on the end-use, the global portable generator industry is bifurcated into commercial, residential, and industrial. The residential segment is expected to grow at the highest CAGR over the forecast period. The increase in the frequency of extreme weather conditions, such as hurricanes and snowstorms, which can result in power outages and deprive houses of energy for days or even weeks, is to blame for the sector rise.

To continue powering their important appliances and devices during these outages, many households are turning to portable generators as dependable backup power sources. The rising need for portable generators that are simple to use, small, and portable so that homeowners can take them on camping trips or use them for outdoor activities is also a trend propelling the segment's expansion.

Portable Generator Market: Report Scope

Portable Generator Market: Regional Analysis

Asia Pacific is expected to dominate the market growth over the forecast period

The Asia Pacific is expected to dominate the global portable generator market during the forecast period. The growing need for power backup solutions in residential areas, as well as the growing use of portable generators in the infrastructure and construction industries, are driving the demand for portable generators in this region.

The accessibility of reasonably priced portable generators and the development of the e-commerce industry are also anticipated to support the market's revenue growth in this area. Additionally, the increased frequency of natural disasters like floods and typhoons is predicted to increase the need for portable generators in the region.

On the other hand, North America holds a significant market share over the forecast period. The demand for portable generators in North America is being driven by the need for power backup in the oil & gas and construction sectors as well as a rise in the frequency of natural disasters like hurricanes and wildfires that result in power outages.

Portable Generator Market: Competitive Analysis

The global Portable Generator market is dominated by players like:

• Generac Holdings Inc.
• Briggs and Stratton LLC
• Atlas Copco AB
• Caterpillar Inc.
• KAZANCI HOLDING
• Cummins Inc.
• Deere and Co.
• Doosan Corp.
• Eaton Corp. Plc
• H.S. ENGINEERS
• Himalayan Power Machines Co.
• Honda Motor Co. Ltd.
• Honeywell International Inc.
• ITOCHU Corp.
• Kirloskar Oil Engines Ltd.
• Siemens AG
• Skyline Power Solutions
• Wacker Neuson SE
• Yamaha Motor Co. Ltd.
• Yanmar Holdings Co. Ltd.

The global Portable Generator market is segmented as follows:

By Product

• Diesel Generator
• Gaseous Generator
• Gasoline Generator
• Others

By Power Range

• Low Power (8-20KW)
• Medium Power (21-370KW)
• High Power (371-450KW)

By Application

• Prime/Continuous

• Emergency

By End-Use

• Commercial
• Residential
• Industrial

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa