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Portable Generators Market

Portable Generators Market

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), By Region - Global Insights 2021-2031

Portable Generators Market
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Portable Generators Market Outlook (2021-2031)

The global portable generator market expected to be valued at USD 850 million in 2021, and it is projected to reach USD 1.5 billion by 2031, registering a CAGR of 6.5% during the forecast period 2021-2031.

A recently published report by Fact.MR- a market research and competitive intelligence provider- establishes that demand for portable generators will likely augment 1.8x from 2021 to 2031, reaching US$ 1.5 Bn by the end of the said forecast period. Uptake across commercial settings is expected to grow substantially, generating an opportunity worth US$ 50 Mn over the coming decade.

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Key Points Addressed in Portable Generators Industry Analysis

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Portable Generators Market and How to Navigate
  • Recommendation on Key Winning Strategies

Portable Generator Sales from 2016 to 2020 Vs Market Projections 2021-2031

Portable generator sales have risen at a CAGR of about 5.5% over the last half-decade, with an expected value of US$ 850 Mn in 2021. Growth might be attributable to the rising need for backup power during power outages.

Furthermore, energy consumption is expected to climb dramatically in the future decade as a result of rising per capita income and the shift of millions of people into middle-income households. For example, according to the most recent IEA (International Energy Agency) study, the world's energy consumption is predicted to rise by 19%, with twice as much energy required as we already generate.

Moreover, in many developing nations, a lack of access to electricity is boosting the need for portable generators as a backup power source. In Western Africa, for example, total power provided by backup generators is comparable to 40% of total electricity produced by the grid. The aforementioned reasons, together with growing urbanization, are expected to increase demand and sales of portable generators at a CAGR of 6.5% over the forecast period.

An Adaptive Approach to Modern-day Research Needs

Will Renewable Portable Generators Generate Significant Growth Prospects?

As global energy efficiency concerns rise, key end use industries are increasingly transitioning towards renewable energy consumption, including solar, hydel and wind power. Consequently, they are demanding more of portable generators powered by the aforementioned sources of energy, prompting manufacturers to introduce new and efficient product lines.

Among all sources, the popularity of solar powered portable generators is augmenting rapidly. It is estimated that the average annual expenditure per person is US$ 3,052, including transportation and energy. Hence, solar power can reduce or eliminate these costs as soon as they are installed. Therefore, a series of new product launches have occurred in recent times.

In March 2021, for instance, Jackery officially launched the Jackery Solar Generator 2000 and Jackery Solar Generator 1500, featuring a large battery capacity, higher wattage, easy usage, less noise emission and clean technology. The generator is equipped with the Solarpeak Technology, offering smarter and more efficient charging, with a maximum output of 800 W, enabling a charging from 0-80% in 2.5 hours.

What are the Challenges for Portable Generator Providers?

Portable generators are a major source of noise and air pollution, which has contributed to a drop in sales in recent years. Furthermore, strong environmental laws in areas such as the United States and Europe have slowed the development of portable generator sales in these regions.

According to a recent W.H.O research, approximately one million lives are lost in Western Europe each year as a result of pollution exposure. To address these issues, governments are enacting significant legislation that restricts the use of specific diesel generators, making it harder for new players to enter the dynamic market.

Furthermore, hybrid generators with even more increased capabilities are being developed to cut fossil fuel use. These concerns have operated as a stumbling block to the rise in demand for and sales of portable generators.

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What are the Primary Opportunities for Portable Generator Manufacturers?

To minimize carbon emissions and satisfy evolving consumer demands, a number of notable manufacturers are expanding their product lines, including hybrid, fuel cell, and natural gas generators.

Furthermore, an increase in building, mining, and oil and gas operations is expected to drive the market for portable generators even further. For example, according to an Australian Bureau of Statistics study, around US$ 2.3 Billion was spent on mining activities. This 19% rise over the previous year has given the sector an optimistic outlook, which is driving sales.

In addition, increased infrastructure investments in places throughout the world have contributed to the increase in portable generator sales, since constant power supply is required for building operations.

Country Wise Analysis

Why is U.S. considered as a Hotspot for Portable Generators?

After Asia Pacific, North America is the second-largest user and producer of electricity. The portable generator industry is dominated by the United States and Canada, which are among the region's and the world's top customers. Power outages, natural gas network penetration, and high peak-hour energy costs are projected to boost the portable generator market in this area.

Furthermore, according to the U.S Department of Energy, 72.0% of the country's electricity infrastructure is more than 25 years old and nearing the end of its useful life. The nation plans to invest US$ 1 trillion in infrastructure development projects across all industries by 2025.

Positive aspects, such as cheap loan rates, will also boost investments in the region's building industry. Based on these trends, the market for portable generators in the U.S will likely expand at a CAGR of 7% until 2031.

What are the Growth Prospects for India's Portable Generator Manufacturers?

Energy consumption in India is expected to remain high during the next 10 years, owing to rising urbanization and massive infrastructure expenditure by both the government and the private sector.

In India, for example, the government has laid up an ambitious target of INR3Tn for loan and capital support to small and medium firms under the Mudra initiative. Such programmes will help SMEs to expand, increasing demand for portable generators in the long run. A CAGR worth 7.5% is expected for the Indian market.

How Lucrative is the Market for Portable Generators in China?

Due to increased infrastructure projects, a widening power demand-supply imbalance, the growth of manufacturing facilities across the country, and expanding commercial office spaces, China is likely to lead the market in Asia.

The country benefits from the low cost and high efficiency of portable generators, while rising living standards increase demand for power backup equipment. Besides, flourishing automotive and chemical industries are expected to steer growth in a positive direction. A CAGR worth 8% is expected for the market in China.

Portable generators market forecast analysis by Fact.MR

Category-Wise Insights

Generators with a Power Output of 1-3 KW to Remain Dominant?

Because of the high demand and necessity in the residential and commercial sectors, portable generators with power output ranging from 1.0 to 3.0 Kw will account for a large portion of the income. These generators are compatible and simple to operate.

Furthermore, generators with power outputs ranging from 1.0 to 3.0 Kw are expected to exceed a worth of US$ 300 Mn by the end of the projection period. It is also expected that these generators will account for almost half of the global market revenue.

Why are Standby Backup Generators in Such High Demand?

Standby backup generators have seen potential growth in recent years due to their suitability for usage in both home and business settings. Furthermore, recent trends indicate that the category will achieve a sales valuation of US$ 500 Mn by obtaining almost 3/4th of the entire revenue share of portable generators.

Standby generators have a significant development potential in countries such as India and Sub-Saharan Africa. Furthermore, industry participants are developing new hybrid items.

Which End Use Segment is expected to Account for the Majority of Revenue?

The usage of portable generators for residential uses continues to expand at an amazing rate, owing to the requirement for constant power supply. For example, the residential sector is expected to contribute for around one-fifth of overall revenue share throughout the forecast period.

Furthermore, in the middle of all of this, the commercial sector has demonstrated considerable growth, with an added dollar potential of about US$ 50 Mn over the next 10 years.

Competitive Landscape

Increased marketing strategy development, product diversification, economies of scale, and brand awareness are some of the strategic assets used by significant corporations to strengthen their market position while lowering business risks.

  • In April 2019, Generac completed the acquisition of Pika Energy Inc., a maker of residential energy storage systems. The purchase aims to increase the market share of both firms and share their vision of developing groundbreaking technologies that modernize the way electricity is generated, stored and used across residential settings
  • In March 2021, Kohler Power Systems announced a 155,000 square-foot expansion to its existing North American manufacturing facility in Mosel, Wisconsin. This expansion is likely to aid the company enhance its production capacity of large industrial diesel as well as portable generators

Report Scope

Attribute Details
Market Size Value in 2021 USD 850 Million
Market Value Forecast in 2031 USD 1.5 Billion
Growth Rate CAGR of 6.5% from 2021 to 2031
Forecast Period 2021-2031
Historical Data Available for 2016-2020
Market Analysis US$ Mn for Value & ‘000 Units for Volume
Key Regions Covered
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa
Key Countries Covered
  • U.S
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • BENELUX
  • South Africa
  • GCC
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Singapore
  • Australia
  • New Zealand
Key Segments Covered
  • Power Output
  • End Use
  • Application
  • Region
Key Companies Profiled
  • Briggs & Stratton Corp.
  • Champion Power Equipment
  • Generac Power Systems, Inc.
  • Honeywell International Inc.
  • Kohler Co. Inc.
  • NIDEC Corp.
  • Stanley Black & Decker, Inc.
  • STEPHILL GENERATORS LTD
  • Techtronic Industries Co. Ltd.
  • Yamaha Motor Co. Ltd.
Pricing Available upon Request

Key Segments Covered

  • Power Output

    • Less than 1 KW Portable Generators
    • 1-3. KW Portable Generators
    • 3-5KW Portable Generators
    • More than 5 KW Portable Generators
  • End Use

    • Commercial Portable Generators
    • Residential Portable Generators
    • Industrial Portable Generators
    • Agricultural Portable Generators
    • Others
  • Application

    • Standby Backup Power Portable Generators
    • Continuous Power Portable Generators

- FAQs -

The portable generators market is expected to reach US$ 850 Mn by the end of 2021

Fact.MR forecasts a 6.5% CAGR for portable generator sales between 2021 and 2031

By 2031, portable generators value will most likely reach US$ 1.5 Bn, as per Fact.MR

The last 5 year market CAGR was around 5.5% for portable generators, according to Fact.MR

Increased emphasis on renewable powered portable generators, such as solar power, is creating lucrative growth opportunities

Tier-1 businesses such as Briggs & Stratton Corp, Generac Power Systems, Inc., Kohler Co. Inc., and Honeywell International Inc. accounted for over 40% sales in 2020.

According to Fact.MR, portable generators sales in the U.S will likely expand at a CAGR of 7% until 2031

India is expected to clock a CAGR of 7.5% with regard to portable generators demand

China is likely to be the dominant global market for portable generators, registering an 8% CAGR until 2031

Portable generators for commercial use will likely yield an opportunity worth US$ 50 Mn until 2031

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.