Portable Generator Market Analysis and Forecast by Size, Share, Growth, Trends 2031

The Portable Generator Market size is projected to reach US$ 7.28 billion by 2031 from US$ 4.85 billion  in 2023. The market is expected to register a CAGR of 5.2% in 2023–2031. Portable generators are primarily utilized at the time of temporary or remote power requirements. Additionally, portable generators are also used to manage the power outrages caused by natural disasters. The growing demand for energy demand is also anticipated to drive the demand for portable generators globally over the forecast period.

Portable Generator Market Analysis

The growing incidents of power outrages owing to natural disasters are one of the prime factors boosting the demand for portable generators globally. Increasing energy demand and lack of power transmission and distribution infrastructure in remote or distant locations are boosting the application of portable generators at the global level. Additionally, the growing need for power backups in commercial and industrial sectors is also acting as a prime driver for the portable generator market. The growing proliferation of battery energy storage systems may act as a major restraining factor for the market. However, the technological advancements in the portable generator market, such as the development of dual fuel portable generators and inverter power portable generators, are projected to offer major growth opportunities for the portable generator market over the forecast period.

Portable Generator Market Overview

Portable generators are stand-alone power devices primarily designed to offer electricity when required, without any permanent or proper power infrastructure. Portable generators are compact and efficient at generating electricity in short-term power outages, making them a suitable option for the residential sector. The portable generator market is classified in terms of fuel type, power rating, application, and end user. Based on the fuel type, the portable generator market is categorized into gasoline, diesel, and others. On the basis of power rating, the market is bifurcated into Below 5 kW, 5-10 kW, 10- 20 kW, and Above 20 kW. Based on application, the market is segmented into emergency/backup power, continuous. Based on the end user, the portable generator market is categorized into commercial, residential, and industrial. Growing energy demand in remote locations and insufficient power grid infrastructure are acting as a major driver for the portable generator market globally.

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Portable Generator Market Drivers and Opportunities

Growing Incidents of Natural Disaster is Expected to be the Prime Driver for the Portable Generator Market

The growing incidents of natural disasters such as tropical cyclones, floods, and earthquakes generally disrupt the power transmission and distribution infrastructure, which primarily boosts the demand for portable generators for continuous power supply. The increasing demand for power backups and the requirement for continuous power supply in time of requirement is also acting as a major driver for the portable generator market. The basic advantage of portable generators is that it does not require proper power infrastructure to be operational. The easy, convenient setup and usability of portable generators is also considered a major driver for portable generators globally.

Growing Proliferation of Dual Fuel Portable Generators

The rising proliferation of dual-fuel portable generators is anticipated to offer major opportunities for the portable generator market globally. The major driver behind the growing demand for dual-fuel portable generators includes rising consumer demand for high-end portable generators, a growing number of portable generator manufacturers in developing nations, and rising application of dual-fuel portable generators in the industrial sector. Rapid industrialization and growing requirements for continuous power supply or backups are fueling the demand for dual-fuel portable generators globally.

Portable Generator Market Report Segmentation Analysis

Key segments that contributed to the derivation of the portable generator market analysis are fuel type, power rating, application, and end user.

• Based on fuel type, the portable generator market has been divided into gasoline, diesel, and others. The gasoline segment held a larger market share in 2023.
• Based on power rating, the portable generator market has been divided Below 5 kW, 5-10 kW, 10- 20 kW, and Above 20 kW. The 5-10 kW power rating segment held a larger market share in 2023.
• In terms of application, the market has been segmented into emergency/backup power, continuous. The emergency segment dominated the market in 2023.
• In terms of end users, the market has been segmented into residential, commercial, and industrial. The residential segment dominated the market in 2023.

Portable Generator Market Share Analysis by Geography

The geographic scope of the Portable Generator Market report is mainly divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Asia Pacific led the portable generator market in 2023. The Asia Pacific region includes China, India, Australia, Japan and South Korea. The high presence of portable generator companies and the developing residential and industrial sectors is acting as a major driver for the portable generator market in Asia Pacific. Increasing incidents of natural disasters and growing demand for emergency power supply in remote locations are also anticipated to propel the demand for portable generators over the forecast period. The rising number of residential complexes and independent houses in the Asia Pacific is boosting the requirement for portable generators for emergency power backups in times of requirement. Additionally, rapid urbanization and the growing number of commercial centers such as shopping malls, departmental stores, multiplexes, and offices are also contributing to the development of the portable generator market in the Asia Pacific. Growing development in the mining and manufacturing sectors is one of the reasons fueling the application of portable generators for emergency power supply needs in the region.

Portable Generator Market Regional Insights

The regional trends and factors influencing the Portable Generator Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Portable Generator Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Portable Generator Market Report Scope

Portable Generator Market Players Density: Understanding Its Impact on Business Dynamics

The Portable Generator Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Portable Generator Market are:

1. Atlas Copco
2. Aggreko
3. General Elecric
4. Cummins Inc.
5. Eaton Corporation
6. Generac Power Systems, Inc.

Disclaimer: The companies listed above are not ranked in any particular order.

Portable Generator Market News and Recent Developments

The Portable Generator Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for portable generator market and strategies:

• On October 2022, Cummins Inc. introduced Onan Power Stations, which is a comprehensive portable power solution. (Source: Cummins Inc., Press Release/Company Website/Newsletter)
• On January 2022, Yamaha Motor Corporation advanced its complete product line of inverters and generators with Carbon Monoxide Sensor technology to fulfil the Portable Generator Manufacturers’ Association’s ANSI/PGMA G300-2021 carbon monoxide emissions standard. (Source: Yamaha, Press Release/Company Website/Newsletter)

Portable Generator Market Report Coverage and Deliverables

The “Portable Generator Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles with SWOT analysis