According to the recent report by IMARC Group, titled “Portable Generator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global portable generator market size reached around US$ 4.6 Billion in 2019. A portable generator, or an engine generator, is an internal combustion generator that runs on a fuel-powered engine to generate electricity during power outages. It is a temporary solution that can be moved from one place to another if required. Over the past several years, the structure and performance of generators have evolved with technological advancements. This has led to the development of portable generators with improved flexibility, high cost-efficiency, easy installation process, and enhanced durability. As portable generators ensure a continuous flow of energy, they are now widely being installed at homes, construction sites, and corporate buildings.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
In recent years, the significant growth in the construction industry has bolstered the growth of the market. Portable generators are widely utilized to operate power tools like paint sprayers, drills, air compressors, cranes, and saws at construction sites to ensure that there is an uninterrupted supply of power. Moreover, rapid urbanization, coupled with the growing population, has led to a surge in electricity consumption around the globe. This has led to an increase in frequent power outages, which have stimulated the demand for portable generators. Furthermore, stringent environmental regulations have led the manufacturers to develop biofuel-based portable generators that help in lowering carbon emissions. Additionally, many governmental agencies, such as the Central Pollution Control Board (CPCB) in India and the US Environmental Protection Agency (EPA), are introducing various schemes to promote the utilization of portable generators. On account of these factors, the market value is expected to reach US$ 6.7 Billion by 2025, at a CAGR of 6.5% during 2020-2025.
- On the basis of the fuel type, the market has been classified into portable gas generators, portable diesel generators, and others. Among these, portable diesel generators represent the most popular fuel type, accounting for the majority of the global share.
- Based on the application, the market has been segregated into the residential, commercial, industrial, and infrastructure sectors. Currently, the residential sector holds the biggest market share.
- On the basis of the power output, portable generators with less than 3kW output account for the largest share. Other segments include 3-10kW and more than 20kW.
- Region-wise, the market has been divided into Asia Pacific, North America, Middle East and Africa, Europe, and Latin America. Amongst these, Asia Pacific represents the largest market, holding the biggest global share.
- The competitive landscape of the market has been analyzed in the report, with some of the key players being Cummins Inc., Eaton Corporation PLC, Briggs & Stratton Corporation, Generac Power Systems, Inc., and Honda Motor Co., Ltd.
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