Global Portable Generator Market Size, Share & Industry Trends Analysis Report

Global Portable Generator Market Size, Share & Industry Trends Analysis Report By Application, By End User, By Power Rating, By Product Type (Conventional Generator, and Inverter Generator), By Fuel, By Regional Outlook and Forecast, 2023 - 2030

The Global Portable Generator Market size is expected to reach $3.4 billion by 2030, rising at a market growth of 6.1% CAGR during the forecast period.

The construction business is expanding as a result of the rising demand for commercial spaces. The construction sites are more in a need of portable generators for electricity. Hence, the commercial sector registered $633.8 million revenue in the market in 2022. By 2050, 68% of the world’s population, or more than half of total population, will reside in urban areas. According to projections, 2.5 billion more people could live in urban areas by 2050 as a result of urbanization, which is the gradual movement of people from rural to urban areas. Nearly 90% of this increase would occur in Asia and Africa, according to a new United Nations data set released in 2018. With this growing urbanization, there will be a considerable increase in construction activities all over the world.

The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For instance, In July, 2021, Yamaha Motor Corporation, U.S.A. released the EF2200iS inverter generator, the generator exclusively upgraded with CO Sensor technology. The generator is developed for emergency home backup portable power usage, camping power requirements, and RV, as a power source on various DIY home projects. Additionally, In September, 2021, Generac Power Systems rolled out PWRgenerator, a new type of DC generator developed to quickly recharge Generac's PWRcell Battery. The integration delivers system owners the cost-saving advantages of solar power, and also the independence and power resilience offered by home standby generators.

Based on the Analysis presented in the KBV Cardinal matrix; Honeywell International, Inc., Caterpillar, Inc., Siemens AG and Honda Motor Co. Ltd. are the forerunners in the Market. In October, 2022, Honda introduced The Honda My Generator Bluetooth® App, a Bluetooth App for Generators. This app integrates remote generator operation and monitoring with better performance, unmatched convenience, and a host of other advantages developed to provide the highest remote freedom and control to the user. Companies such as Generac Holdings, Inc., Atlas Copco AB and Yamaha Motor Co., Ltd. are some of the key innovators in the Market.

Market Growth Factors

Increase in the number of power delays caused by harsh weather

Any country's power infrastructure is based on the transmission and distribution of electricity. Transmission systems that have not been properly modernized cannot support increased power demands and in extreme situations, can even fail, resulting in a power outage. Transmission and distribution networks were installed quite some time ago in developed countries, and even routine maintenance increased the market demand as they provide good power outages for a long time. The US National Association of Regulatory Utility Commissioners estimates that coal, gas, and nuclear power plants can operate effectively for about 40 years. The scenario is also similar in other nations such as UK, Germany, India and others across the globe which further raise the need for efficient power backup sources.

Developments in technology such as dual fuel and portable inverter generators

To supply consumers with an effective portable solution, several portable generator solution providers are putting increasing efforts into developing dual-fuel-capable portable solutions. Most original equipment manufacturers (OEMs) provide hybrid generators, which are primarily internal combustion engines with batteries. When there is a large load, these hybrid generators directly power the engine, and when there is a low load, the battery performs the same. They are superior to conventional generators in several ways including reduced running time, fuel consumption, and noise. These developments such as portable inverter generators are predicted to support the growth of market during the projection period.

Market Restraining Factors

Drawbacks of diesel generators

Releasing hazardous gases in the environment, such as carbon dioxide, nitrogen oxide, particulate matter, and others is one of the main disadvantages of diesel generators. A natural gas generator might be preferable for those worried about environmental sustainability because it might be less environmentally hazardous than those other fuels. Installing a diesel generator can be more expensive initially compared to other generator types. In light of this, the market is expected to decline because portable diesel generators harm the environment.

Fuel Outlook

On the basis of fuel, the market is segmented into gasoline, diesel, natural gas, and others. The gasoline segment dominated the market with the maximum revenue share in 2022. Using gasoline-powered portable generators is common in residential settings when a power supply is required for emergency and light-duty applications. The advantages of gasoline-powered portable generators include their low cost, adaptability, and convenience. Since gasoline is the most readily available fuel throughout the world, it is more commonly used.

Product Type Outlook

By product type, the market is fragmented into inverter generator, and conventional generator. The inverter generator segment recorded a remarkable revenue share in the market share in 2022. Inverter generators use a rectifier to convert alternating current (AC) power into direct current (DC), then inverted back into AC to supply stable current to appliances. These are extremely helpful for equipment like air conditioners, refrigerators, cars, boats, and recreational vehicles that require voltage & frequency values that inverter generators can supply. They are also lightweight and small, which makes them perfect for certain applications.

Power Rating Outlook

On the basis of power rating, the market is categorized into below 5KW, 5-10 KW, and more than 10 kW. In 2022, the 5-10 KW segment witnesses the largest revenue share in the market. The 5-10 kW portable generators are mostly used for home and outdoor applications since the power household appliances. The demand for this market is driven by the increase in outdoor activities like sports campaigns that need portable backup generators. Additionally, a number of users favor the 5–10 kW portable generators for power backup during frequent power outages in places like Puerto Rico and Mexico.

End user Outlook

Based on end user, the market is segmented into residential, commercial, and industrial. The industrial segment procured a promising growth rate in the market in 2022. The demand for sustainable backup power in sectors like industrial and data centers, that depend on continuous operations, can be credited to the segment's expansion. In the event of a power loss, these procedures can be carried out with the help of portable generators. As a result of the rising demand for renewable energy sources has led to the creation of new portable generators that run on alternative fuels like propane and natural gas and produce fewer emissions than conventional diesel generators.

Application Outlook

Based on application, the market is classified into emergency, and prime/continuous. In 2022, the emergency segment held the highest revenue share in the market. Portable emergency generators are typically utilized when severe weather, such as storms, severe rainfall, and heat waves, impact the transmission & distribution infrastructure. Because of inadequate facilities for power generation and the inferior grid networks in developing countries, small-scale industry and enterprises have been forced to rely on emergency portable generators. The need for portable emergency generators is driven by the necessity for reliable backup power during disruptions or emergencies.

Regional Outlook

Region wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region led the market by generating highest revenue share. The region’s growth can be attributed to the rise in demand for accessible and dependable energy in developing nations like China and India, where grid power is frequently unstable and absent in rural areas. For powering homes, and farms in these places, portable generators offer a dependable and affordable solution.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, Generac Holdings, Inc., Atlas Copco AB, Honeywell International, Inc., Caterpillar, Inc., Wacker Neuson SE, Honda Motor Co. Ltd., Yamaha Motor Co., Ltd., Kohler Co., and Briggs & Stratton, LLC (KPS Capital Partners)

Recent Strategies Deployed in Portable Generator Market

Partnerships, Collaborations and Agreements:

Aug-2022: Honeywell signed an agreement with FLYING WHALES QUEBEC, a French-Canadian company. Under this agreement, both companies would integrate and supply Honeywell's 1-megawatt generator, the power generator for aviation would deliver compact and efficient power aboard the latest hybrid electric airship.

Jun-2022: Yamaha Corporation joined hands with Sumitomo Corporation Power & Mobility Co., Ltd., a Sumitomo Corporation Group company. Under this collaboration, both companies demonstrated a new waste heat recovery system based on thermoelectric generator technology, that generates electrical power through exhaust gas heat and was proven to decrease CO2 emissions at the time of vehicle testing on a chassis dynamometer.

Product Launches and Product Expansions:

May-2023: Generac Power Systems, Inc. introduced the GP15500EFI and GP18000EFI, the latest addition to the GP line of portable generators. The available products are large enough to potentially offer complete home backup power when combined with a Generac HomeLink™ manual transfer switch.

Mar-2023: Kohler unveiled KD700 and KD750, the two new models of industrial generators in the KD Series line. The generator models are equipped with a new KOHLER 18L advanced diesel engine which would also run on Hydrotreated Vegetable Oil as a renewable fuel source.

Feb-2023: Caterpillar Inc. launched Cat XQ330 mobile diesel generator set, a power solution for standby and prime power applications that meets U.S. EPA Tier 4 Final emission standards. The XQ330 is upgraded with the EMCP 4.4 digital control panel, which offers all generator set controls and system indicators in a single interface, as well as a programmable logic controller functionality that enhances flexibility and reliability for enabling transformation in processes or application needs.

Oct-2022: Honda introduced The Honda My Generator Bluetooth® App, a Bluetooth App for Generators. This app integrates remote generator operation and monitoring with better performance, unmatched convenience, and a host of other advantages developed to provide the highest remote freedom and control to the user.

Sep-2022: Generac Power Systems, Inc. announced the launch of the Generac GB1000 and GB2000 Portable Power Stations, the latest Generac Portable Power Station products. This launch would mark the entry of Generac into the portable battery market. This would offer the benefits of clean, emission-free DC or AC power output at the push of a button.

Aug-2022: Caterpillar Inc. announced the launch of the Cat D20, D25, and D30 generator sets, the series of standby diesel generator sets. The products powered by the Cat® C2.2 engine add three latest 60 Hz power nodes from 20 to 30 kW for commercial applications, small industries, and telecommunications, across North America.

May-2022: Generac Power Systems Inc. launched Powermate 4500-Watt Dual Fuel Portable Generator and the Powermate 7500-Watt Dual Fuel Portable Generator. The Powermate 4500-Watt Dual Fuel Portable Generator comes with a starting power of 4,500 watts, allowing it to power small electrical appliances at an outdoor location and The Powermate 7500-Watt Dual Fuel Portable Generator would be suitable for power tools and outdoor events usage.

Sep-2021: Generac Power Systems rolled out PWRgenerator, a new type of DC generator developed to quickly recharge Generac's PWRcell Battery. The integration delivers system owners the cost-saving advantages of solar power, and also the independence and power resilience offered by home standby generators.

Jul-2021: Yamaha Motor Corporation, U.S.A. released the EF2200iS inverter generator, the generator exclusively upgraded with CO Sensor technology. The generator is developed for emergency home backup portable power usage, camping power requirements, and RV, as a power source on various DIY home projects.

Jan-2021: Atlas Copco unveiled the QES 250, QES 325, QES 400, and QES 500, the latest models in QES portable generator range up to 500kvA. The QES generators feature Qc series controllers that deliver power within two clicks and take only six seconds to be completely operational.

Jan-2021: Atlas Copco released The P 2000i and P 3500i models, the two new inverter power generators. The launched power generators provide contractors with a lightweight, efficient, and reliable source of portable power. Additionally, the inverter power generator models are the newest additions to Atlas Copco’s comprehensive suite of portable generators.

Acquisitions and Mergers:

Jan-2022: Kohler took over Heila Technologies, a modular energy platform provider. Through this acquisition, the company aimed to complement its vision of delivering power resiliency solutions by broadening its clean energy management portfolio.

Sep-2021: Briggs & Stratton completed the acquisition of SimpliPhi Power, a manufacturer of energy storage and management systems based in the United States. This acquisition would boost the growth of the company into the energy storage system market, broadening the business to provide a complete range of products that deliver safe, reliable, and affordable energy solutions to a wider group of customers in the emerging market.

Sep-2021: Generac Holdings Inc. took over Off Grid Energy Ltd, a designer, and manufacturer of industrial-grade mobile energy storage systems. Following this acquisition, the integration of energy storage systems combined with the advanced technology of Generac's generators being provided through its global distribution network would boost its growth into the fast-growing distributed energy and microgrid markets.

Mar-2021: Siemens took over C&S Electric Limited. Through this acquisition, the company aimed to reinforce its position as the main provider of low-voltage power circulation and electrical installation technology in one of the world’s rapid-growing economies.

Scope of the Study

Market Segments covered in the Report:

By Application

• Emergency
• Prime/Continuous

By End User

• Residential
• Commercial
• Industrial

By Power Rating

• 5 -10 KW
• Below 5 KW
• More than 10 KW

By Product Type

• Conventional Generator
• Inverter Generator

By Fuel

• Gasoline
• Diesel
• Natural Gas
• Others

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• Siemens AG
• Generac Holdings, Inc.
• Atlas Copco AB
• Honeywell International, Inc.
• Caterpillar, Inc.
• Wacker Neuson SE
• Honda Motor Co. Ltd.
• Yamaha Motor Co., Ltd.
• Kohler Co.
• Briggs & Stratton, LLC (KPS Capital Partners)

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