Portable Generator Market Worth $2.9 billion in 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Feb. 2, 2023 /PRNewswire/ -- Portable Generator Market is projected to reach USD 2.9 billion in 2027 from USD 2.2 billion in 2022 at a CAGR of 6.0% according to a new report by MarketsandMarkets™. The flexibility of portable generators to be used in various applications is pushing the market. These portable generators enable to draw power from a centralized location to power various plants in different areas.

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Portable Generator Market Scope:

The Emergency segment, by application, is expected to be the most significant Portable generators segment during the forecast period.

Emergency portable generators are mainly used when natural calamities such as storms, heavy rains, and heat waves disrupt the transmission & distribution infrastructure. Inadequate power generation infrastructure and poor grid networks in developing countries have forced small-scale manufacturers and businesses to rely on emergency portable generators.

Gasoline is anticipated to be the fastest-growing Portable generators segment, by fuel type, during the forecast period.

Portable generators using gasoline are widely used for the residential purposes where the power supply is needed for emergency and low load applications. Gasoline is the most easily available fuel across the country therefore it is more commonly used. However, gasoline prices are somewhat high and tends to be the least efficient amongst all fuels to run a generator, at least for long periods of time, which is likely to increase its demand in the Portable Generator Market globally. It is used in any emergency, hunting, camping, and other applications.

Asia Pacific is expected to be the fastest-growing segment in the global Portable Generator Market, by region, during the forecast period.

The region is the most populated region in the world and is expected to become the largest energy-consuming region globally. As portable generators provide uninterrupted and stable power supply during natural calamities, grid failure or any industrial disruptions, thus the market for portable generator is encouraged to cater the needs of its customers. The customer base is wide from residential to industrial as portable generators are versatile and easy to operate with multi-fuel technology incorporated with safer mode of energy supply.

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Portable Generator Market Dynamics:

Drivers:

1. Rising instances of power outages
2. Growing construction activities

Restraints:

1. Stringent government regulations pertaining to emissions from generators
2. Suitability of portable generators for low-power applications

Opportunities:

1. Technological advancements such as dual-fuel and inverter portable generators
2. Increase in power demand with growing urbanization

Challenges:

1. Increasing adoption of renewable energy solutions
2. Noise and exhaust issues associated with portable generators

Key Market Players:

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Portable Generator Market. These include Generac (US), Honda (Japan), Yamaha (Japan), Atlas Copco (Sweden), Cummins (US).

Recent Developments:

• In January 2021, Yamaha has updated its full line of inverter and conventional generators with Carbon Monoxide (CO) Sensor.
• In October 2021, Generac launched its new products series Guardian 26kW generator provides 26 kilowatts of peak power, while taking up less space and offering thousands of dollars of savings on purchase and installation compared to competitive home standby generators.
• In September 2019, Honda has launched, Honda My Generator Bluetooth App which allows end users to start (electric start models only), stop, and monitor critical functions of Honda portable generators through a Bluetooth interface on a smartphone.

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Browse Adjacent Markets: Energy and Power Market Research Reports & Consulting

Related Reports:

Generator Sales Market - Global Forecast to 2027

Asia Pacific Generator Sales Market - Global Forecast to 2025

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