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Portable Generators Market

Portable Generators Market 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 Market Insights 2022 to 2032

Analysis of Portable Generators market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Portable Generators Market Outlook (2022-2032)

The global portable generators market is expected to be valued at around US$ 905.25 Million in 2022. Uptake across commercial settings is expected to grow substantially, generating an opportunity worth US$ 50 Mn over the coming decade.

Demand for portable generators will likely increase 1.8x from 2022 to 2032. Furthermore, Sales of portable generators are projected to accelerate at a CAGR of 6.5% to top US$ 1,699.28 Million by 2032.

Report Attributes

Details

Anticipated Base Year Value (2021)

US$ 850 Million

Expected Market Value (2022)

US$ 905.25 Million

Projected Forecast Value (2032)

US$ 1,699.28 Million

Global Growth Rate (2022-2032)

6.5% CAGR

Expected Market Share of the U.S. Market (2032)

40%

Anticipated Market Value of Asia Pacific (2022-2032)

45%

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.

Demand for autosampler syringes for chromatography is set to increase at a CAGR of 5% across the assessment period of 2022 to 2032. Numerous applications of chromatography in different fields will pave the way for opportunities for manufacturers of portable generators over the next ten years.

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Revenue Analysis of Portable Generators from 2017-2021 Vs Market Projections for 2022 to 2032

As per Fact.MR, a market research and competitive intelligence provider, the global market for portable generators was valued at US$ 850 Million 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.

Portable Generators Market

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Which are Some Prominent Drivers of the Portable Generators Market?

Increased Inclination towards Renewable Energy Consumption to 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.

Increased Infrastructure Investments to Drive the Adoption of Portable Generators

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.

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What are the Challenges Faced by the Portable Generators Market?

Increasing Noise and Air Pollution Restraining market growth

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.

Comparative View of Portable Generators Markets

Portable generators Market :

Attributes

Portable generators Market

CAGR (2022-2032)

6.5%

Market Value (2032)

US$ 1,699.28 Million

Growth Factor

As global energy efficiency concerns rise, key end use industries are increasingly transitioning towards renewable energy consumption, including solar, hydel and wind power.

Opportunity

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.

Portable Inverter Generator Market :

Attributes

Portable Inverter Generator Market

CAGR (2022-2032)

9.7%

Market Value (2032)

US$ 7,700 Million

Growth Factor

Integration of the inverter technology in generators contributes in providing higher quality of maximum power output with minimum surges as compared to that of the traditional generators.

Opportunity

With the implementation of the latest technologies in the advanced portable inverter generators, the majority of the manufacturers across the globe are planning to target a larger consumer base worldwide.

Portable Device Charging Kiosks Market :

Attributes

Portable Device Charging Kiosks Market

CAGR (2022-2032)

5.4%

Market Value (2032)

US$ 267.3 Million

Growth Factor

Increasing usage of portable devices such as tablets, smartphones, and laptops has fuelled the need for portable charging stations at several public establishments, and this is expected to primarily drive portable device charging kiosk demand over the coming years.

Opportunity

Investment in research and development for digitization is largely influencing the market.

Which Regional Market is the Most Profitable for Portable Generators Manufacturers?

Commercial and Industrial Sectors of Emerging Asia Pacific Economies to Hold the Largest Market Share

In terms of revenues, Asia Pacific is projected to remain the largest market for portable generators. 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.

Further, the building & construction market is on the rise in India and China due to current government initiatives such as smart cities and green building initiatives, which are expected to create the demand for portable generators during the forecast period., and in turn, drive the generator set market.

Country-wise Analysis

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

Increasing Power Outages bolstering demand 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 2032.

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

Rising Urbanization increasing sales of portable generators

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?

Product innovations increasing sales of portable generators

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.

Country-wise Forecast CAGRs for the Portable Generators Industry

Country CAGR

China

8%

U.S.

7%

India

7.5%

Category-wise Insights

Which Power Output Generators are projected to remain Dominant?

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 Million by the end of the projection period. It is also expected that these generators will account for almost half of the global market revenue.

Which Application of Generators is in High Demand?

Standby Backup Generators to remain high in 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?

Portable Generators for Residential Uses to Continue to Expand

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 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 Million over the next 10 years.

Competitive Landscape

Key players in the portable generators market are 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., and Yamaha Motor Co. Ltd.

  • 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.
  • In January 2021, Cummins launched QG 2800i and 2500i that are 60% quieter RV inverter generators for the recreational vehicle market. They run on gasoline and liquid propane (LP). The Onan QG 2800i and 2500i are 2.8-kW and 2.5-kW inverter–based generator sets made primarily for Class B and truck campers.

Key Segments Profiled in the Portable Generators Industry Survey

  • By Power Output :

    • Less than 1 KW 
    • 1-3. KW 
    • 3-5KW
    • More than 5 KW 
  • By Application :

    • Standby Backup Power Portable Generators
    • Continuous Power Portable Generators
  • By End User :

    • Commercial
    • Residential
    • Industrial
    • Agricultural
    • Others
  • By Region :

    • North America 
    • Latin America
    • Europe 
    • APEJ 
    • Japan 
    • Middle East & Africa 

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Residential Segment is expected to contribute around one-fifth of overall revenue share throughout the forecast period.

From 2022-2032, Fact.MR expects portable generators revenue to flourish at a 6.5% CAGR.

Autosampler portable generators are expected to increase 2.1X over the next ten years.

In 2032, portable generators market worth is poised to reach US$ 1699.28 Million.

The North American regional market is expected to rise at 7% CAGR by 2032.

China is expected to rise at a 7% CAGR in the portable generators market in 2032.

Fact.MR foresees portable generators demand to reach US$ 905.25 Million in 2022.

As of 2021, the portable generators market was worth US$ 850 Million.

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