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Portable Generator Market size was valued at USD 4.43 billion in 2019 and is poised to grow from USD 4.69 billion in 2023 to USD 7.3 billion by 2031, growing at a CAGR of 5.7% in the forecast period (2024-2031).

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. 'Honda Power Equipment', 'Briggs & Stratton Corporation', 'Cummins Inc.', 'Generac Power Systems', 'Kohler Co.', 'Yamaha Motor Corporation', 'Atlas Copco AB', 'Caterpillar Inc.', 'Champion Power Equipment', 'Doosan Corporation', 'Eaton Corporation', 'GE Energy', 'Honeywell International Inc.', 'Ingersoll-Rand plc', 'Kirloskar Electric Company Limited', 'Mitsubishi Heavy Industries Ltd.', 'Multiquip Inc.', 'Perkins Engines Company Limited', 'Wacker Neuson SE', 'Winco Inc.'

Inadequate grid infrastructure in emerging economies: Due to a lack of grid infrastructure, millions of people around the world do not have access to power. A combination of rapid population growth, increased energy demand, and inadequate energy infrastructure primarily affects emerging economies. In order to obtain dependable power supply, many housing societies, flats, businesses, and SMEs use portable generators, which leads to the growth of the portable generator market.

Electricity is essential for a country's economic development, yet many nations lack the necessary grid infrastructure. Small and medium-sized businesses (SMEs) as well as commercial areas are significantly hampered by an inadequate power supply. Portable gensets support the growth of the portable genset market by guaranteeing continuous electricity supply in addition to a dependable power source in the case of a blackout.

Based on the region, the North American and European region currently dominates the 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.

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Global Portable Generator Market

Product ID: SQMIG20E2066