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Portable Generators Market to cross $16 Bn by 2032

  • Published Date: April 24, 2023

Portable Generators Market size is projected to surpass USD 16 billion by 2032, as reported in the latest research study by Global Market Insights Inc.

Rising demand for uninterrupted power supply, and aging grid infrastructure are expected to complement the portable generators industry dynamics. Over the last decade, global electricity and energy demand has increased notably along with the rapid integration of smart networking technologies. Ongoing advancements in grid infrastructures and surging demand for renewable power systems to support cross-border transmission networks will spur the product adoption.

The growing population, lack of access to electricity, and the presence of an unreliable grid infrastructure are accelerating the need for mobile gensets to address the burgeoning energy bills and electricity costs. As per the International Energy Agency (IEA) Access Outlook, more than 600 million people, which amounts to 43% of the population in sub-Saharan Africa, lack access to electricity.

Growing power requirements to propel adoption of diesel portable generators

Portable generators market demand from diesel fuel & power rating segment is projected to exhibit a 4% CAGR from 2023-2032. Diesel-powered portable generators are widely deployed across applications with high-power requirements such as commercial applications, construction sites, and large Recreational Vehicles (RVs).

The growing demand for diesel generators can be credited to the access to less volatile and stable fuel that ensures an efficient and cost-effective solution for applications in remote areas. In February 2023, Caterpillar Inc. unveiled the Ct XQ330 mobile diesel genset, a novel power tool for standby & prime power applications adhering to the U.S. EPA Tier 4 emission standards.

Browse key industry insights spread across 850 pages with 1,788 market data tables & 36 figures & charts from the report, “Portable Generators Market Size By Product (Conventional Portable, Inverter Portable), By Fuel & Power Rating (Diesel {< 20 kW, 20 kW - 50 kW, > 50 kW - 100 kW}, Gasoline {< 2 kW, 2 kW - 5 kW, 6 kW - 8 kW, > 8 kW - 15 kW}), By Phase (Single Phase, Three Phase), By End-Use (Residential, Commercial, Construction), & Forecast, 2023 – 2032, ”, in detail along with the table of contents:

Hefty urban infrastructure investments to boost the deployment of portable generators

The portable generators industry revenue commercial applications reached over USD 3 billion in 2022. The increasing commercial construction of offices, hospitals, restaurants, shops, retail outlets, and schools is fueling the need for continuous power supply, thus fostering the need for portable generators. As per a new World Bank study, India, with its constantly escalating population, requires an investment of USD 840 billion over the next 15 years into the urban infrastructure to support the changing population needs.

Aging grid infrastructure to augment North America business outlook

North America portable generators market is poised to register USD 5.5 during 2023 to 2032. Rapid industrialization and urbanization across the U.S., and Canada are propelling the need for a robust power supply and necessary technologies. The growing demand for electricity in the region due to the rising frequency of power outages as a result of weather-related disasters is necessitating the installation of mobile generators.

Mergers & acquisitions to boost portable generators industry growth

Leading companies in the global portable generators business scenario are Cummins, YANMAR, Kirloskar, Briggs & Stratton, Kohler, Generac Power Systems, Yamaha Motor, Honda India Power Products, Caterpillar, Atlas Copco, Wacker Neuson, Deere & Company, DuroMax Power Equipment, Champion Power Equipment, Firman Power Equipment, Mitsubishi Heavy Industries, Westinghouse Electric Corporation, HIMOINSA, Allmand Bros. and Snapper . These companies are foraying into strategic agreements, mergers, and acquisitions to scale up revenue and establish a strong footprint in the portable generators market.

Authors: Ankit Gupta, Shubham Chaudhary