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Portable Generators Market

Portable Generators Uptake to be High across Commercial Settings, Contributing US$ 50 Mn by 2031, Projects Fact.MR

Published : 27 Oct 2021 Industry: Industrial Goods

Fact.MR establishes that the global portable generators market is expected to be valued at US$ 850 Mn in 2021, reflecting a CAGR of 6.5% over the upcoming decade (2021-2031). Portable generators powered by diesel or gasoline are thought to be significant contributors to CO2 emissions. Diesel generators, for example, are prohibited in many European towns due to excessive levels of pollution.

From 2016 to 2020, sales of portable generators accelerated at a CAGR of 5.5%. During the pandemic crisis, demand somewhat contracted, amid supply constraints in the first half. Eventually, demand accelerated, as stay-at-home directives prompted an increase in electricity consumption levels, for professional and leisurely purposes.

To address the pollution issue without jeopardizing energy supply, market participants have developed hybrid generators that may drastically cut emissions. Photovoltaic (PV) diesel hybrid generators have recently gained popularity. Furthermore, substantial R&D and innovation investment has opened the road for novel hybrid generators, which may be ascribed to shifting customer preferences as well as rigorous environmental rules imposed by government authorities. On the back of these trends, the market is likely to reach US$ 1.5 Bn by 2031.

Key Takeaways from the Market Study

  • 1-3 KW power output generators to generate US$ 300 Mn in revenue by 2031
  • Standby backup generators sales to account for 3/4th of global revenue share
  • Residential usage to contribute around 20% value share to the global market
  • Uptake across commercial settings to rise, yielding an opportunity worth US$ 50 Mn by 2031
  • U.S to experience high uptake, registering a CAGR of 6% from 2021-2031
  • India to be an attractive market across Asia, expanding at 7.5% CAGR
  • China to emerge as the fastest growing market, clocking an 8% value CAGR

“The requirement for minimum electric wiring, simple equipment, and light weight components in contrast to its accessible equivalents is expected to increase the scope of portable generators in the long-run", says a Fact.MR Analyst

Competitive Landscape

Market participants have been investing in R&D to produce new, innovative goods such as hybrid generators. These advancements will propel the portable generators business forward in the medium- to long-term projection period.

  • Pika, a manufacturer of residential energy storage devices, was bought by Generac in May 2019. The acquisition was made in order to integrate Pika's expertise with transportable industrial and commercial generators. The firm provides backup power devices in a variety of places, including Puerto Rico, where recent natural disasters have affected power delivery.
  • Cummins introduced the QG 2800i and 2500i, which are 60% quieter RV inverter generators for the recreational vehicle industry, in January 2021. They are powered by gasoline and liquid propane (LP). The Onan QG 2800i and 2500i are 2.8-kW and 2.5-kW inverter-based generator sets designed primarily for Class B and truck campers, respectively.

More Insights Available

Fact.MR, in its new report, offers an unbiased analysis of the global portable generators market, analyzing historical demand from 2016-2020 and forecast statistics for 2021–2031.

The study reveals growth projections on the portable generators market on the basis of power output (less than 1 KW, 1-3 KW, 3-5 KW and more than 5 KW), end use (commercial, residential, industrial, agricultural and others) and application (standby backup power and continuous power) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).

Fact.MR’s Domain Knowledge in Industrial Goods

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned consumer products team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the industrial goods market across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

For more information, refer to our market research report or contact the PR author.

Yash Pathak

Fact.MR

Sr. Consultant - Consumer Products

E-mail: Yash@factmr.com

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Portable Generators Market

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Portable Generators Market Report By Power Output (Less than 1 KW, 1-3. KW, 3-5KW, More than 5 KW), By End Use (Commercial, Residential, Industrial, Agricultural), By Application (Standby Backup, Continuous Power) - Forecast 2021-2031.