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Portable Generators Market

Portable Generators Market

Portable Generators Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031

Portable Generators Market
FACT275MR

Key Questions Answered in Report

  • What is the expected growth rate for the portable generators market through 2031?

    By value, Fact.MR has projected around 6.5% CAGR for portable generator sales during 2021-2031. In 2020, the market reached a valuation of US$ 700 Mn.

  • Which are the most lucrative markets for portable generator manufacturers?

    As per Fact.MR’s projections, the Sub-Saharan Africa region along with China, India, Indonesia, Pakistan, and Bangladesh are markets expanding at high CAGRs. Together, East Asia and South Asia are projected to hold around 1/3 market share through 2031.

  • Who are the prominent portable generator manufacturers?

    Top suppliers of portable generators include tier-1 companies such Briggs & Stratton Corp, Generac Power Systems, Inc., Kohler Co. Inc., and Honeywell International Inc., which together accounted for around 40% share of global revenue in 2020.

Report Also Addresses:

  • 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 and How to Navigate
  • Recommendation on Key Winning Strategies

Sales of Portable Generators from 2016 to 2020 Vs Market Projections for 2021 to 2031

Over the past half-decade, portable generator sales increased at a CAGR of around 5.5%, reaching an estimated US$ 700 Mn in 2020. Growth can be attributed to the high need for power backup during electricity outages.

Additionally, energy consumption is projected to increase in the coming decade significantly attributed to the rise in per capita income and transition of millions of people to middle income household. For instance, according to the latest report by IEA (International Energy Agency) world’s energy consumption is expected to increase by 19% with twice as much energy needed as we produce today.

Moreover, lack of access to electricity supply in various developing countries is driving the demand for portable generators as a backup power source. For instance, in Western Africa total electricity produced by back-up generators is equivalent to 40% of the electricity produced by the grid.

Above stated factors coupled with rapid urbanization is projected to drive the demand and sales of portable generators at a CAGR of ~6.5% over the forecast period (2021-2031).

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What are the Key Opportunities for Manufacturers of Portable Generators?

In order to reduce carbon emissions and meet the changing consumer needs, various prominent manufacturers are diversifying their product line-up such as inclusion of hybrid, fuel cell and natural gas generators.

Additionally, rise in construction, mining and oil & gas activities is projected to further boost the market for portable generators. For instance, according to a report by Australian Bureau of Statistics, around US$ 2.3 billion was spent on mining activities. This 19% increase from the previous year has set out a positive outlook to the industry, thus driving sales.

Moreover, rising infrastructural investments in regions around the world have added to the growth in sales of portable generators as continuous power supply is needed for construction activities.  

What are the Roadblocks for Portable Generator Suppliers?

Portable generators are a source of noise as well as air pollution which has acted as a major factor in the decline of its sales in recent years. Additionally, strict environmental policies in regions like US and Europe have restricted the growth in the sales of portable generators in these regions. 

According to a latest study by WHO nearly one million lives are lost in Western Europe every year owing to the exposure by pollutants. To tackle these problems governments are drafting notable laws restricting the use of certain diesel generators hence making it difficult for new entrants to enter the dynamic market.

Moreover, to reduce the fossil fuel consumption hybrid generators are on the move that comes with even more enhanced capabilities. These factors stated has acted as a road block for the growth in demand and sales of portable generators.    

Will Sales of Hybrid Generators Keep Increasing?

Hybrid generators are expected to provide promising growth owing to the increase in demand for constant supply of electricity coupled with rapid shift towards sustainable manufacturing processes. Various industries are applying sustainable processes in their manufacturing methods to comply with environmental laws hence hybrid generators are set to grow at a rapid pace.

The hybrid generators market in set expand at a CAGR of around 8%, with solar generator hybrid systems accounting for majority of the share in terms of revenue.

Hybrid portable generators are projected to show promising growth in the African region, attributed to low electricity supply in the region along with frequent power outages faced by people.

Portable Generators Market

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Which Region Offers the Largest Opportunity for Sales of Portable Generators?

South Africa is projected to be the most lucrative market in terms of sales of portable generators. This is attributed to the unreliable access to electricity along with inability of all to be connected to the grid. For instance, Sub-Saharan Africa is home to 6.5 million backup generators, accounting for nearly 15% of the total fuel consumption.

Moreover, businesses and residents tends to spend around 1.2 times more on backup generator fuel than in maintaining and expanding the grid.

Thus, these recent trends show that Africa, over the years, has emerged as a prominent region for the sales of portable generators, hence driving the market a steady pace.

How is Growing Consumption of Fossil Fuel in Asia Expected to Drive Demand for Portable Generators?

According to a latest study, six countries including India, Nigeria, Iraq, Pakistan, Bangladesh and Venezuela generates around 50% of the total electricity produced by backup generators. Additionally, in South Asia, backup generator fuel consumption represents 4% of the total electricity cost.

The region is expected to garner an incremental $ opportunity of around US$ 120 Mn, thus making it full of potential in terms of revenue share.

Country-wise Analysis

What is the Growth Prospects for Portable Generator Manufacturers in India?

Energy consumption in India is projected to remain high over the next ten years, attributed to rapid urbanization along with huge infrastructural spending from both government and private players.

For instance, in India, through the Mudra scheme, the government has set out an ambitious plan of INR 3 trillion for credit and capital support to small and medium enterprises. Such schemes will allow the growth of SMEs, thus driving demand for portable generators in the long run.

How is the Portable Generator Market Growth in Nigeria?

Recent surveys have revealed that Nigeria spends around 3X more on backup generators than electricity grids. This is attributed to the lack of grid infrastructure coupled with long hours of power outages. Additionally, total number of backup generators available in Nigeria is highest among all the Sub-Saharan African countries, which shows high penetration of portable generators in the country.

Moreover, seeing the impact of CO2 emission in the country various governmental and international organizations like UN are promoting the use of hybrid generators. With people adapting new ways of electricity generation it becomes important for market players to come up with new and innovative products which can provide electricity without proposing any negative impact on the environment.

These trends have shown that Nigeria holds huge potential in terms of portable generator sales. Also over the next decade with introduction of various hybrid portable generators, the market is only going to grow at a significant pace.

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Category-wise Insights

Which End Use Segment is Expected to Account for Majority Revenue Share?

Portable generators being used for residential purposes continue to grow at an impressive rate, attributed to the need for continuous power supply. For instance, the residential sector is projected to account for around 3/5 of the total revenue share over the projected forecast period.

Moreover, in midst of all this commercial sector has also shown a significant growth by garnering an incremental $ opportunity of around US$ 50 Mn over the next ten years.

These insights show steady growth of portable generators in the residential and commercial segments, thus contributing significantly to total revenue share.

Why are Standby Backup Generators Highly Souygh-after?

Standby backup generators over the past few years has shown promising growth as it is most compatible to be used in residential and commercial areas. Additionally, recent trends shown that the segment will surpass a valuation of US$ 500 Mn in terms of revenue by gaining around 3/4 of the total revenue share of portable generators.

Stand by generators have high potential growth in regions such as India and Sub Saharan Africa. Moreover, market players coming up with new hybrid products  

Which Power Output Portable Generators are Expected to Dominate the Market?

Seeing the demand and need from the residential and commercial sectors, portable generators with power output ranging from 1.0-3.0 Kw will be holding major part of the revenue share. These generators are compatible and easy to use.

Moreover, generators with power output 1.0-3.0 Kw are projected to surpass a valuation of US$ 300 Mn by the end of forecast period. It has also been projected that these generators will be accounting for around 50% of total revenue share.

Competitive Landscape

Fact.MR has profiled the following key portable generator manufacturers in its report:

  • 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

A fore mentioned players are relying on mix of organic and in organic growth strategies such as product launches, capacity expansion, and collaborations.

  • For instance, Genrac completed the acquisition of Pika which is a manufacturer of home energy storage system. The acquisition by combining the capabilities of both the companies is trying to expand their market share.
  • Moreover, Genrac launched portable generators under the brand name XC series that offers power rating ranging from 6.5-8 Kw. The series is designed for commercial and various other purposes.

Similarly, recent developments related to companies manufacturing portable generators have been tracked by the team at Fact.MR, which are available in the full report.

Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value 

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • Japan
  • APEJ
  • MEA

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • BENELUX
  • South Africa
  • GCC Countries
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Singapore
  • Australia
  • New Zealand

Key Segments Covered

  • Power Output
  • End Use 
  • Application
  • End Use
  • 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

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Key Market Segments Covered

  • By Power Output

    • Less than 1.0 KW Portable Generators
    • TO 3.0 KW Portable Generators
    • TO 5.0 KW Portable Generators
    • More than 5.0 KW Portable Generators
  • By End Use

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

    • Standby Backup Power Portable Generators
    • Continuous Power Portable Generators
  • By Region

    • North America
    • Latin America
    • Europe
    • Japan
    • APEJ
    • MEA

Portable Generators Market: Report Scope

Portable generators are powered by diesel or gas, providing temporary electrical power. Manufacturers are focusing more on producing gas generators as diesel generators lead to lot of noise pollution. Along with this, generator manufacturers are also focusing on developing bi-fuel portable generators, as they offer various environmental benefits and lead to significant fuel savings. This report, compiled by Fact.MR, provides in-depth analysis of the global portable generators market for the forecast period 2021-2031, and offers key insights about future market direction.

The scope of Fact.MR’s report is to analyse the global portable generators market for the forecast period 2021-2031, and provide readers an unbiased and accurate analysis. Portable generator manufacturers, stakeholders, and suppliers in the global consumer goods sector can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and journals pertaining to portable generators.

Summary

The report commences with a brief information of the global portable generators market. This executive summary sets the tone for the rest of the report, providing users the scope of the report. The executive summary includes important facts and statistics on the global portable generators market.

Overview

The next section offers an overview of the global portable generators market. This comprises an introduction to the market, along with a standard definition of the product – portable generators. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.

The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.

In order to offer readers with up-to-date information about the latest advancements in the global portable generators market, the report provides updates about market opportunities, which can benefit leading manufacturers of portable generators. With continuous evolution of the consumer goods sector, keeping a record of latest developments and trends is fundamental for portable generators manufacturers to formulate key business strategies. Detailed insights about raw material sourcing, supply chain, pricing analysis, list of distributors, and cost structure are provided in this section.

The Fact.MR report provides an in-depth and segment-wise analysis and forecast on the global portable generators market. The global portable generators market is segmented into power output, end use, application, and region. Through this section, the report provides country-wise forecast on all the major parameters.

The report’s last section comprises of the global portable generators market competitive landscape, to provide readers with the dashboard view of company analysis and market players. This competitive intelligence is based on the providers’ categories across value chain, and their presence in the global portable generators market.

Research Methodology

Fact.MR is committed to offer unbiased and independent market research solutions to its clients. Each market report of Fact.MR is compiled after months of exhaustive research. We bank on a mix of tried-and-tested and innovative research methodologies to offer the most comprehensive and accurate information. Our main sources of research include,

  • Primary research
  • Secondary research
  • Trade research
  • Focused interviews
  • Social media analysis

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Is the market research conducted by Fact.MR?

Yes, the report on the radiation proctitis treatment industry 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.

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