The Portable Generators Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Portable Generators Global Market Report 2024, The portable generators market size has grown steadily in recent years. It will grow from $5.14 billion in 2023 to $5.37 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to rise in power outages, construction industry growth, rise in outdoor activities, rise in demand for home power backup, governmnet support.
The portable generators market size is expected to see steady growth in the next few years. It will grow to $6.33 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to rising remote work, aging grid infrastructure, environmental regulations, rising disposable income. Major trends in the forecast period include hybrid and dual-fuel generators, smart generator technology, solar-powered portable generators, eco-friendly generators, integration of lithium-ion batteries.
The growing rate of urbanization coupled with the increasing frequency of power grid failures is propelling the growth of the portable generators market. Electricity is key to the economic progress of a nation but many countries in the world do not have proper grid infrastructure due to which there is an inadequate power supply which hampers operations of residential and industrial spaces. Portable generators help provide a reliable power supply during a blackout and ensure continuous electricity supply for residential applications, as well. Moreover, rising concerns about power instability in the residential sector due to natural calamity, and uninterrupted operations are also driving the portable generator market. For instance, in October 2022, The World Bank, an a US-based international financial institution, 4.4 billion people, or 56% of the world’s population, reside in urban areas. By 2050, approximately 7 out of 10 people will live in cities, with the urban population predicted to more than double from its current level. This surge in urbanization leads to an increase in the demand for portable generators.
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The portable generators market covered in this report is segmented –
1) By Fuel Type: Diesel, Gas, Other Fuel Types
2) By Product Type: Conventional Portable Generator, Inverter Portable Generator
3) By End-User: Residential, Commericial, Industrial
The use of bi-fuel portable generators is a key trend gaining popularity in the portable generators market. Portable generator manufacturers have been working on technological advancements to help develop bi-fuel technology. Bi-fuel portable generators provide fuel efficiency by making use of two fuel types, generally utilizing both diesel and natural gas, providing extended running times and significant reliability. These generators are scalable and reduce the costs of storing and managing large quantities of diesel fuel. Furthermore, governments are implementing strict regulations primarily for diesel fuel-powered engines. Bi-fuel portable generators are more environmentally friendly emitting far less NOx and particulate matter than a standard diesel generator. For instance, Generac’s Bi-Fuel are EPA certified and emit about 30% fewer nitrogen oxides and 50% less particulate matter than comparable diesel-only units.
The portable generators market report table of contents includes:
1. Executive Summary
2. Portable Generators Market Characteristics
3. Portable Generators Market Trends And Strategies
4. Portable Generators Market – Macro Economic Scenario
5. Global Portable Generators Market Size and Growth
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26. South America Portable Generators Market
27. Brazil Portable Generators Market
28. Middle East Portable Generators Market
29. Africa Portable Generators Market
30. Portable Generators Market Competitive Landscape And Company Profiles
Top Major Players:
- YellowScan
- Kohler Co
- General Electric Company
- Caterpillar Inc
- Cummins Inc
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