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Industry Trends
Portable Generators Market size was valued at over USD 5 billion in 2020 and the annual installation is anticipated to reach over 12 million units by 2027. A portable generator set is defined as an engine driven equipment that converts chemical energy derived from the fuel supplied to the engine into electrical power.
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Chronic outages, inadequate power supply, shifting consumer preferences along with ongoing infrastructural expansion will define the global portable generators market trends in the coming years. Growing consumer dependency on electricity backup solutions in order to sustain everyday operations will boost the product installation.
The sudden outbreak of Novel Coronavirus has attributed to halting of several industry operations across all regions following public curfews and strict ban on labor movement. However, ongoing digital revolution as a result of technological upgrades and upsurge in industry automation will positively impact the market statistics. Therefore, increasing urgency to meet the amplified power demand majorly from commercial and residential sector will further propel the portable generators industry potential.
| Report Coverage | Details |
|---|---|
| Base Year: | 2020 |
| Market Size in 2020: | 5.04 Billion (USD) |
| Forecast Period: | 2021 to 2027 |
| Forecast Period 2021 to 2027 CAGR: | 6.3% |
| 2027 Value Projection: | 8.33 Billion (USD) |
| Historical Data for: | 2017 to 2020 |
| No. of Pages: | 576 |
| Tables, Charts & Figures: | 1,235 |
| Segments covered: | Product, Fuel & Power Rating, Phase, End-Use |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Inverter portable generators market will grow owing to increased installation of energy efficient systems on account of strict administrative norms
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Chronic electricity outages and failure of grid infrastructure along with rising deployment of energy efficient system are set to fuel the inverter portable generators industry trends. Growing dependency on backup electricity options to fulfill the basic day to day operations will further strengthen the product adoption. The importance of conventional systems is primarily accredited to their lower price and multi-use capacity, however, ongoing technologies advancements comprising launch of inverter gensets and hybrid fuel solutions are set to stimulate the industry dynamics.
Diesel portable generators market will witness increased adoption on account of easy fuel availability and their ability to cater to a wide range of applications
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Diesel portable generators market share is set to witness over 4% CAGR from 2021 to 2024. Easy accessibility to fuel, high portability and simpler operations are few underlying features propelling the diesel gensets installation. Increased enforcement of strict norms focused on reducing the carbon footprint might hinder the market expansion. However, continuous product development and rise in innovations along with their capability to enable varying customer requirements will complement the market outlook.
Ability to offer high functional and operational efficiency will result in increased deployment of three phase portable gensets
Three-phase portable generators market is projected to account for over 28% of the global market share in 2027. Need for minimal electric wiring together with simple machinery and low weight component in comparison to its available counterparts is set to boost the overall market scenario. Additionally, efficient electricity supply in combination with optimum material demand are the significant parameters boosting the market growth.
Improved standards of living and increased customer awareness towards emergency preparedness is set to boost the residential portable generators market revenue share
Accelerating demand for uninterrupted power supply along with rising consumer preference towards emergency backup solutions during a power outage will augment the product demand across residential applications. The prominence of portable generators can be significantly attributed to their lower price index and multi-use capacity, which are suitable for varying end-user requirements. Recurrent electricity cuts in order to counter peak hour demand along with surge in end user awareness towards emergency readiness will further complement the business scenario.
Rising focus toward infrastructural expansion, predominantly across the developing nations will fuel the product deployment across Asia Pacific
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Increasing occurrence and severity of weather-related disasters leading to electricity outage for extended durations is set to entail product penetration across the U.S. The potential use of these units has experienced a significant transition from merely being a supplementary power source to an indispensable necessity across a multitude of applications. Additionally, growing fluctuation in end user power demand on yearly basis in line with prolonged power blackout driven by hurricanes and storms primarily along the Atlantic region and Gulf coasts will stimulate the portable generators market forecasts.
Rapid infrastructural development followed by requirement for uninterrupted electricity supply for onsite tools & equipment and thriving population growth will strengthen the product adoption across Asia Pacific. Degrading grid infrastructure and increased power prices in line with rising electricity demand is anticipated to drive up the product demand. Furthermore, favorable administrative initiatives towards adoption of energy efficient systems along with increasing consumer preference relating to continuous power supply will boost the portable generators industry landscape.
Competitive Market Share
Increased development of marketing strategies, product differentiation, along with economies of scale and brand recognition are some strategic assets adopted by the major companies to reinforce their market presence while reducing the business risks. Prominent industry participants operating across the portable generators market comprises of Cummins, Briggs & Stratton, Kirloskar Oil Engines Limited, Kohler, Generac, Honda Motor, Yamaha, Caterpillar, Atlas Copco, Honeywell, Champion, DuroMax, Firman, Westinghouse, Wen Products, A-iPower Mitsubishi Heavy Industries, and HIMOINSA and amongst others.
Portable generators market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2017 to 2027, 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
- Mozambique
- Latin America
- Mexico
- Chile
- Argentina
- Brazil
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