Global Portable Generator Markets Report 2023: A $2.9 Billion Market by 2027 from $2.2 Billion in 2022 with Honda, Generac, Yamaha, Cummins, & Atlas Copco Dominating

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Feb 16, 2023, 12:30 ET

DUBLIN, Feb. 16, 2023 /PRNewswire/ -- The "Global Portable Generator Market" report has been added to ResearchAndMarkets.com's offering.

The Portable generators market is expected to grow at a CAGR of 6.0% during the forecast period, from an estimated USD 2.2 Billion in 2022 to USD 2.9 Billion in 2027.

The growth of portable generators is mainly driven by the increasing number of weather-related & nonweather-related power outages, and aging grid infrastructure.

5 -10 kW is expected to emerge as the fastest segment based on power rating

The 5-10 kW portable generators are majorly used in camping and recreational applications as an emergency power source. For instance, in North America the camping activities was seen to be following increasing trend from past few years, according to KOA which is expected to rise the usage of portable generators as a backup sources. This rise in these outdoor activities are some of the factors contributing to the growth of this market segment.

Conventional Generator: The largest segment for the portable generators market, by product type

Conventional generators maintain their speed in order to produce electricity. Some have an idle mode that will save fuel when nothing is drawing electricity. The demand for electricity increases as the usage of the machine tools in work shops or turning on a light bulb is needed. The amount of fuel required increases and so does the noise because the generator engine is working harder.

North America is expected to be the second largest market during the forecast period

The countries included are the US, Canada, and Mexico. North America is one of the leading manufacturers and consumers of electricity. The massive industrial sector of North America lies in the territory of US and Canada thus both of them contributed the largest share in electricity generation.

The largest consumers of energy are US and Canada countries in the region level and global level as well which are contributing to the largest share of the portable generator market. Environmental distress, power shortages, and new exploration activities for natural gas fuel, and peak time electricity costs are expected to push the portable generator market in this region.

Competitive landscape

The portable generators market is dominated by a few major players that have a significant regional presence. The leading players in the portable generators market are. Honda (Japan), Generac (US), Yamaha (Japan), Cummins (US), Atlas Copco (Sweden).

Premium Insights

Rising Demand for Backup Power Sources During Power Outages
Asia-Pacific to Register Highest CAGR in Market During Forecast Period
Residential Segment and US Dominated North American Market in 2021
Residential Segment to Dominate Market in 2027
Gasoline Segment to Dominate Market in 2027
Emergency Segment to Dominate Market in 2027
5-10 kW Segment to Dominate Market in 2027
Conventional Generator Segment to Dominate Market in 2027

Market Dynamics

Drivers

Rising Instances of Power Outages
Growing Construction Activities

Restraints

Stringent Government Regulations Pertaining to Emissions from Generators
Suitability of Portable Generators for Low-Power Applications

Opportunities

Technological Advancements Such as Dual-Fuel and Inverter Portable Generators
Increase in Power Demand with Growing Urbanization

Challenges

Increasing Adoption of Renewable Energy Solutions
Noise and Exhaust Issues Associated with Portable Generators

Value Chain Analysis

Raw Material Providers/Suppliers
Component Manufacturers
Manufacturers/Assemblers
End-users
Post-Sales Service Providers

Case Study Analysis

PR Power Supplies Its Portable Diesel Generator to Salvation Army for Emergency Services
Honda Power Equipment Launched Co-Minder System

Company Profiles

Key Players

Atlas Copco
Briggs & Stratton
Generac
Honda
Yamaha
Caterpillar Inc.
Cummins
Honeywell International Inc.
Siemens
Rato Europe
Kohler
Inmesol
Himoinsa
Duromax
Loncin

Other Players

Champion Power Equipment
Wen
Pulsar Products
Westinghouse
Wacker Neuson

For more information about this report visit https://www.researchandmarkets.com/r/f6ikud-portable?w=5

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