According to the latest report by IMARC Group, titled “Portable Generator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global portable generator market size reached US$ 4.9 Billion in 2022. A portable generator is a compact, standalone device designed that provides electrical power when a traditional power source is not available or reliable. It is equipped with an internal combustion (IC) engine, which that drives an alternator to generate electricity. It offers a convenient and temporary solution for powering essential appliances, tools, and equipment. It is commonly used during power outages, outdoor events, camping trips, construction sites, and other settings wherein electrical power is needed.
Global Portable Generator Market Trends:
Portable generators are employed in the construction sector for various equipment, such as air compressors, drills, and saws, to provide optimal output with minimal fuel consumption. This, coupled with the increasing construction projects in the residential, commercial, and industrial spaces, represents one of the key factors augmenting the market growth around the world. Moreover, the rising adoption of home appliances, such as televisions, refrigerators, mixers, freezers, dryers, microwaves, and ovens, is catalyzing the demand for portable generators. In addition, the growing electricity consumption and need for power generation worldwide is driving the demand for portable generators to minimize the instances of power failures. This, along with the increasing adoption of alternative power backup systems, such as inverters, UPS systems, solar generators, and solar energy systems, is favoring the growth of the market. Apart from this, rising instances of extreme weather events and natural disasters, including earthquakes, hurricanes, tornadoes, and tsunamis that can cause blackouts are propelling the growth of the market. Looking forward, the market value is projected to reach US$ 7.2 Billion by 2028, expanding at a CAGR of 6.4% during 2023-2028.
- Based on the fuel type, the market has been bifurcated into portable gas generators, portable diesel generators, and others. Presently, portable diesel generators hold the largest market share.
- On the basis of the application, the market has been segregated into residential, commercial, industrial, and infrastructure. Residential currently accounts for the biggest share in the market.
- Based on the power output, the market has been divided into less than 3kW, 3-10kW, and more than 10kW. At present, less than 3kW dominates the market.
- Region-wise, the market has been segmented into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. Amongst these, Asia Pacific enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being Briggs & Stratton Corporation, Cummins Inc., Honda Motor Co., Ltd., Eaton Corporation PLC, and Generac Power Systems, Inc.
|Base Year of the Analysis
||Fuel Type, Application, Power Output, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||Briggs & Stratton Corporation, Cummins, Inc., Honda Motor Co., Ltd., Eaton Corporation PLC and Generac Power Systems, Inc.
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