Portable Generator Market Size, Share and Global Trend by Fuel (Diesel, Gas, and Others), Power Rating (Below 5kVA, 5-15kVA, 15-45kVA, 45-75kVA), By Application (Residential, Commercial, and Others), and Regional Forecast, 2019 - 2026

The global portable generator market size was USD 3.88 billion in 2018 and is projected to reach USD 5.87 billion in 2026, growing at Compound Annual Growth Rate (CAGR) of 5.4% during the forecast period. The market is set to witness profitable growth due to frequent power outages, inadequate grid infrastructure in remote locations, and adverse environmental effects. The Asia-Pacific portable generator market size was valued at USD 1.33 billion in 2018.

Increasing demand for uninterrupted power supply, coupled with rising infrastructural activity and tremendous growth in urbanization, is likely to propel the industry outlook. For instance, In May 2019, a research carried out by IRENA states that around 840 million people still do not have access to electricity and are falling short of sustainable energy goals.

MARKET TRENDS

Rising Demand for Uninterrupted Power Supply to Boost the Market

Electricity is the key to the economic progress of a nation, but several countries around the world do not have proper grid infrastructure. Inadequate power supply severely hampers operations of small and medium enterprises (SMEs) as well as commercial spaces. Portable gensets not only provide a reliable power supply in the event of a blackout but also ensure continuous electricity supply, augmenting the portable genset market growth.

Sizeable Growth in Urban and Construction Sector to Expand the Market

The United Nations reported in 2018 that around 55% of the world’s population lives in urban areas, which is projected increase to 68% by 2050. Extensive population shifting to metro cities is increasing the demand for electricity. Moreover, enormous construction activities to build commercial spaces, business parks and housing societies set to spike power demand. These factors are creating a gap between production and supply of electricity which eventually provides lucrative opportunities for the growth of the market for portable generators.

MARKET DRIVERS

Inadequate Grid Infrastructure in Emerging Economies to Aid Growth

Millions of people around the world do not have access to electricity owing to lack of grid infrastructure. Emerging economies are mostly affected on account of massive population growth, rising demand for energy, and deficient energy infrastructure. Many housing societies, apartments, commercial spaces, and SMEs opt for portable generators to get reliable power supply, which has brightened the portable generator market outlook.

Rising Natural Calamities and Frequent Power Outage to Drive the Market

The demand for portable generators increases in the event of environmental tragedies such as tsunamis, earthquakes, floods, bushfires, storms, hurricanes, and volcanic eruptions, among others. Certain regions in the world are highly prone to frequent natural disasters that disrupt the national grid infrastructure, causing inconsistent electricity supply. In such events, portable gensets are extensively used to provide electricity in rescue operations.

MARKET RESTRAINT

Initiatives by Governments and International Authorities to Improve Access to Electricity to Hinder Growth

Developing countries are taking serious notes on the frequent power outages and inadequate electricity supply. Growing interest by local governments to expand the grid infrastructure to meet the end-user demand is likely to limit the scope of the market. Moreover, rising concerns over greenhouse gas emissions and shifting trends toward clean energy technology are set to inhibit the growth of the market.

SEGMENTATION

By Fuel Analysis

Diesel Fuel is Projected to Lead the Industry Trends

Portable gensets use various types of fuels, which mainly consist of diesel, gas, and others. Diesel is majorly used fuel in the residential generators on account of its advantages such as higher efficiency, economical than gasoline, and durable. Diesel generators are highly reliable in operations and can run on heavy load for a long duration and are driving the portable generator market trends.

By Power Rating Analysis

Multifold Growth to Below 5kVA Power Rating to Dominate the Market

The residential sector is anticipated to offer a sizeable prospects for the below 5kVA segment. These generators are transferable and flexible and protect lives during natural disasters by maintaining continuous power. It is reliable equipment to mitigate frequent power outages and to counter the blackouts in the event of grid failure. Similarly, other segments are experiencing gradual growth on account of the expansion of commercial spaces and SMEs.

By Application Analysis

Unprecedented Electricity Demand from Residential Sector to Provide Healthy Growth

The world is witnessing exponential urbanization as many people are shifting from villages to cities. Urban areas are responsible for sizeable GDP growth of the world, which attracts investors to expand their businesses that ultimately increase electricity demand. Metro cities deliver varied opportunities in employment, businesses, and leveraging the lives of human beings. The urban sector possesses a high potential for growth, which translating more people shifting to metro cities. Thus, growing population density and expansion of commercial and urban sectors are set to expand the market size.

REGIONAL ANALYSIS

The portable generator industry exhibits appreciable growth in the upcoming years on account of multifold consumption of electricity, and frequent blackout. Asia-Pacific contributes significantly to leveraging the residential generator market and is expected to dominate the portable generator market share. The growth is attributed to emerging economies such as China and India, who are immensely investing in the energy and power sector. Though the government is investing in grid infrastructure, millions of people in this region still do not have access to electricity that might fuel the growth of the portable genset. In contrast, North America and Europe exhibit steady growth mainly driven by rising natural calamities. The Middle East and Africa show considerable demand for residential generators due to poor grid infrastructure in African countries. In many Gulf countries, portable generators are widely used to provide backup or continuous power supply during public events or in case of natural calamity. Also, there is a lot of potential for economic development in this region and many multinational companies are investing in different industry verticals. Therefore, portable generators are the best option to provide power supply in remote locations and avoid frequent power outage.

KEY INDUSTRY PLAYERS 

Prominent Global Players to Dominate the Portable Generator Market

Renowned players in the portable generator industry are set to dominate the market outlook. Portable generators are widely used in residential as well as by different SMEs to avoid power outages and ensure smooth electricity supply. Manufacturing companies are consistently looking to leverage the performance of the generators to comply with the regulatory board rules and regulations. The industry players are competing based on performance, durability, power rating, and price of portable generators.

List of Key Companies Profiled:

• Cummins Inc. (United States)


• Caterpillar Inc. (United States)


• Atlas Copco (Sweden)


• HIMOINSA (Spain)


• Ingersoll Rand (Ireland)


• Kirloskar Electric Co. Ltd (India)


• Inmesol S.L.U (Spain)


• Kohler-SDMO (France)


• American Honda Motor Company, Inc (United States)


• Generac Power Systems (United States)


• FG Wilson (United Kingdom)


• Briggs & Stratton (United States)


• Aggreko (United Kingdom)


• Manlift Group (United Arab Emirates)


• Yamaha Motor Corporation, USA (United States)


• John Deere (United States)


• Champion Power Equipment (United States)


• Wacker Neuson (Germany)


• PRAMAC (Italy)


• WINCO Generators (United States)

KEY INDUSTRY DEVELOPMENTS:

• On January 13, 2021, Atlas Copco has expanded its QES portable generator range up to 500 kVA. This enables the generators to perform continuously for up to 500 hours and in extreme high and low temperatures.


• In July 2020, Honda Power Equipment has launched CO-MIDER and an advanced carbon monoxide (CO) detector system across its entire line-up of a portable generator. This enables the unit to automatically shut down before the CO reaches the dangerous level.


• In July 2020, Duracell Power has announced their PowerSource gasless generator which is integrated with a solar controller and delivers power upon requirement. This has led towards an alternative, simple, and clean energy solution for backup power needs.


• In March 2021, Generac Power Systems has announced their complete redesign of Powermate portable generators. The new line-up consists of ten modules of portable generators to meet nearly all the demand, and make life easier for homeowners.

FUTURE OUTLOOK

Deficient power supply, rising population, and lack of proper grid infrastructure are set to increase the portable generator market. Besides, climate change has greatly affected the weather of the earth resulting in frequent natural calamities such as floods, hurricanes, tornadoes, and earthquake among others. These disasters not only destroy the property but also interrupts energy supplies. In such events, the portable generator industry delivers reliable power supply with ease of operation and flexibility. 

REPORT COVERAGE

The portable generator market report provides detailed information regarding various insights into the market. Some of them are growth drivers, restraints, competitive landscape, regional analysis, and challenges. It further offers an analytical depiction of the portable generator market trends and estimations to illustrate the forthcoming investment pockets. The market is quantitatively analyzed from 2019 to 2026 to provide the financial competency of the market. The information gathered in the report has been taken from several primary and secondary sources.

Along with this, the report provides an elaborative analysis of market dynamics, emerging trends, and competitive landscape. Key insights offered in the report are the adoption trends of residential industry analysis by individual segments, recent industry developments such as partnerships, mergers & acquisitions, consolidated SWOT analysis of key players, Porter’s five forces analysis, and key industry trends.

 Report Scope &Segmentation