USD 4.43 billion
Report ID: SQSG20E2006 | Region: Global | Published Date: August, 2022 | Pages: 165 | Tables: 117 | Figures: 77
Portable Generator Market size was valued at USD 4.43 billion in 2021 and is poised to grow from USD 4.69 billion in 2022 to USD 7.3 billion by 2030, growing at a CAGR of 5.7% in the forecast period (2023-2030).
The market is expanding as a result of the rapidly expanding construction industry's snowballing adoption of portable generators. In the construction sector, a variety of power tools, including drives, drills, air hammers, and compressors, are frequently used. For innovative building projects, where the majority of work is done at night and in locations where power from power grids cannot be reached, portable generators are frequently used.
The market also is expected to expand significantly as a result of the frequent power outages, poor grid infrastructure in distant areas, and negative environmental effects. Increasing demand for continuous power supply, combined with rising infrastructure activities and rapid urbanization, is another factor expected to push the market growth.
US Portable Generator Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 4.43 billion
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The Global Portable Generator Market is segmented based on fuel, application, power rating, end-use, and region. Based on the Fuel, it is categorized into Gasoline, Diesel, and Natural Gas. Based on the application, it is categorized into Emergency, and Prime/Continuous. Based on Power Rating, it is categorized into Less than 5 kW, 5–10 kW, 10–20 kW, and More than 20 kW. Based on End-use, it is categorized into Residential, Commercial, and Industrial. Based on region, it is categorized into North America, Europe, Asia Pacific, The Middle East and Africa, and Latin America.
Portable Generator Market Analysis by Application
On the basis of application, the emergency segment currently dominates the global portable generator market. The emergency sector held the biggest market share for portable generators in 2021. Emergency generators are portable power units that are used briefly during power shortages. With just one tank fill, these generators can run for an average of 10 to 12 hours. Portable emergency generators are typically utilized when severe weather, such as storms, torrential downpours, and heat waves, impair the transmission and distribution network. Small-scale manufacturing and businesses have been compelled to rely on emergency portable generators because of the inadequate infrastructure for power generation and the shoddy grid networks in developing nations.
Portable Generator Market Analysis by Power Rating
On the basis of power rating, the less than 5 kW segment currently dominates the global portable generator market and is expected to grow at the highest CAGR, due to rising awareness of the benefits of indoor power backup and the increased demand for portable powering systems for outdoor recreational activities. On the other hand, the market for portable generators is also anticipated to be driven by the use of generators that provide more than 20kW of power in the industrial sector, due to the requirement for larger power supplies to run machinery and industrial tools.
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Based on the region, the North American and European region currently dominates the global portable generator market with respect to market share and they are expected to exhibit a steady growth mainly driven by rising natural calamities in the regions, during the forecast period.
Apart from this, Asia-Pacific is predicted to lead the portable generator market share and make a substantial contribution to the global portable generator industry. Emerging economies like China and India, who are making significant investments in the energy and power industry, are responsible for this development. Millions of people in this region still lack access to power, which might also fuel the expansion of the portable generator, despite government investments in grid infrastructure.
There is also a considerable growth in demand for portable generators in the Middle East & African region, due to the poor grid infrastructure in this region. Additionally, this area has a great potential for economic growth, and as numerous global corporations are investing in various industrial verticals, portable generators are the best alternative for providing power supply in remote areas and preventing frequent power outages.
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Portable Generator Market Drivers
Portable Generator Market Restraints
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The portable generator market is expected to be dominated by well-known players. Portable generators are frequently used in household settings as well as by several SMEs to prevent power outages and guarantee a steady supply of electricity. Manufacturing firms are constantly trying to use the generators' performance to abide by regulatory board norms and regulations. The portable generators' performance, toughness, power rating, and cost are the main competing factors among industry participants.
Portable Generator Market Top Players Company Profiles
Portable Generator Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the analysis, the global portable generator market is currently led by countries in the North American and European region, due to rising natural calamities, which fuels the demand for portable generators in these regions. Along with this, the emergency segment is currently dominating the global portable generator market, and it is projected to maintain its dominance over the forecast period, due to its high efficiency.
|Market size value in 2021||USD 4.43 billion|
|Market size value in 2030||USD 4.69 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Portable Generator Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Portable Generator Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Portable Generator Market:
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Product ID: SQSG20E2006