Portable Generators Market Size By Product (Conventional Portable Generator, Inverter Portable Generator), By Fuel & Power Rating (Diesel {<20 kW, 20-50 kW, >50-100 kW}, Gasoline {<2 kW, 2-5 kW, 6-8 kW, >8-15 kW}, Others), By Phase (Single Phase, Three Phase), By End-Use (Residential, Commercial, Construction), Industry Analysis Report, Regional Analysis, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 – 2026
Published Date: Oct 2020 | Report ID: GMI3384 | Authors: Ankit Gupta, Asmita Semwal
Industry Trends
Portable Generators Market size surpassed USD 5 billion in 2019 and annual installation is anticipated to exceed 10 million units by 2026. Rising peak hour demand coupled with surging need to offset the increased electricity usage across residential and commercial building establishments will accelerate the industry growth.
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Global portable generators industry is anticipated to witness a substantial growth on account of increasing frequency of power supply disruptions leading to prolonged electrical outages. Further, escalated participation in outdoor recreational activities driven by increasing per capita income along with rising end user dependency on power backup solutions to sustain daily operations will entail the product deployment.
The untimely outbreak of COVID-19 (Novel Coronavirus) has resulted in halted industry operations across all regions. Growing digital revolution on account of technological advancement in IT sector followed by virus outspread has resulted in sudden rise in industry automation. Therefore, rising urgency to cater to the heightened electricity demand particularly from residential and commercial sector is set to enhance the portable generators business outlook.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | 5.3 Billion (USD) |
| Historical Data for: | 2015 to 2019 | Forecast Period: | 2020 to 2026 |
| Forecast Period 2020 to 2026 CAGR: | 6.9% | 2026 Value Projection: | 7.4 Billion (USD) |
| Pages: | 550 | Tables, Charts & Figures: | 1232 |
| Geographies covered (35): | U.S., Canada, Russia, UK, Germany, France, Spain, Austria, Italy, China, Australia, India, Japan, Indonesia, Malaysia, Thailand, Philippines, Singapore, South Korea, Vietnam, Saudi Arabia, UAE, Qatar, Turkey, Iran, Oman, Egypt, Nigeria, Algeria, South Africa, Mozambique, Brazil, Mexico, Argentina, Chile | ||
| Segments covered: | Product, Fuel & Power Rating, Phase, End-Use | ||
| Companies covered (18): | Cummins, John Deere, Kohler Power Group, Briggs & Stratton, Yamaha Motor, Generac, Caterpillar, Honda Motor Co., Westinghouse Electric Corporation, Champion Power Equipment, Siemens AG, Atlas Copco, Firman Power Equipment, Wacker Neuson SE, Honeywell International, DuroMax Power Equipment, Kirloskar Oil Engines Limited, WEN Products | ||
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Inverter portable generators market will grow on account of increased adoption of energy efficient systems as a result of stringent government norms
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Chronic power outages and failing grid infrastructure coupled with increasing adoption of energy efficient systems will positively impact the inverter portable generators industry trends. Increased dependency on backup power options to sustain daily operations will encourage the product deployment. The prominence of conventional units can be attributed to their multi-use capacity and lower price index, however, advent of newer technologies including hybrid fuel options and introduction of inverter generators is set to augment the industry statistics.
These products cater to a wide-ranging consumer base from light duty commercial to household applications, recreational activities and construction sites.
Diesel portable generators will witness a rise in its market share on account of easy fuel availability and its ability to cater to a variety of applications
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Diesel portable generators market share grew at a CAGR of over 3.5% from 2016 to 2019. Easy availability of fuel, simpler operations and high portability are some of the underlying factors driving the gensets deployment. Increased implementation of stringent norms aimed at reducing the overall carbon footprint may hamper the market share. However, product innovations coupled with their ability to facilitate varying end-user requirements and multiple usage will positively impact the portable generators industry forecast.
Three Phase market is anticipated to grow on account of operational & functional efficiency
Three-phase portable generators market is anticipated to register over 25% CAGR through 2026. Factors including requirement for minimal wiring along with simpler machinery & lower weight when compared to their available counterparts will enhance the overall business scenario. Moreover, system flexibility, efficient power supply and optimum material necessity are some of the prominent features complementing the product adoption.
Improved living standards followed by rising demand for continuous electricity supply will propel the residential market share
Residential portable generators market is projected to witness significant upsurge owing to dependency on continuous electricity supply along with need for emergency power in case of a grid failure or blackout. Frequent power cuts with an aim to counter the peak load demand coupled with rising consumer awareness toward emergency preparedness will complement the industry statistics.
Robust infrastructural development across emerging economies will boost the gensets adoption across Asia Pacific
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Flourishing tourism sector followed by rapid infrastructural expansion along with need for uninterrupted power supply for onsite equipment will drive the product deployment across Southeast Asia. Inadequate power transmission & distribution grid and higher electricity prices in conjunction with thriving population growth is anticipated to fuel the product penetration.
Moreover, favorable government initiatives toward adoption of energy efficient units coupled with rising end user preference pertaining to continual supply of electricity will strengthen the business scenario.
Surging demand for reliable and continuous electricity, particularly during the peak hours coupled with aging grid infrastructure is set to drive the U.S. portable generators market statistics. Increasing frequency and severity of weather-related catastrophe resulting in power outages for prolonged durations will continue to entail the product deployment.
The fluctuation in consumer electricity demand on annual basis in compliance to the power outages triggered by storms and hurricanes along the Gulf coasts & Atlantic region will further augment the industry landscape.
Competitive Market Share
The manufacturing industry is characterized by dynamic participation of global firms and growing incursion of local players. Robust marketing strategies, economies of scale, product differentiation and brand recognition are few tactical assets which the companies are implementing to reinforce market competitiveness while mitigating business risks.
Eminent industry participants functioning across the portable generators market include KOEL, Kohler, Atlas Copco, Wen Products, Cummins, John Deere, Briggs & Stratton, Honeywell, Westinghouse, Firman, Yamaha, Generac, Honda Motor, Siemens, Caterpillar, and Champion amongst others.
Portable generators market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2015 to 2026, for the following segments:
By Product
- Conventional Portable Generator
- Inverter Portable Generator
By Fuel & Power Rating
- Diesel
- <20 kW
- 20-50 kW
- >50-100 kW
- Gasoline
- <2 kW
- 2-5 kW
- 6-8 kW
- >8-15 kW
- Others
By Phase
- Single Phase
- Three Phase
By End Use
- Residential
- Commercial
- Construction
The above information has been provided for the following regions and country:
- North America
- U.S.
- Canada
- Europe
- Russia
- UK
- Germany
- France
- Spain
- Austria
- Italy
- Asia Pacific
- Australia
- Japan
- China
- India
- Indonesia
- Thailand
- Philippines
- Malaysia
- Singapore
- Vietnam
- South Korea
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- Turkey
- Iran
- Oman
- Egypt
- Nigeria
- Algeria
- South Africa
- Angola
- Kenya
- Mozambique
- Latin America
- Mexico
- Chile
- Argentina
- Brazil
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