Market Overview
During the projected 2023–2030, the portable generator market is anticipated to expand by USD 6.26 billion.
A gas-powered engine within portable generators produces electricity via an onboard alternator. The unit's electrical outlets may accommodate extension cords, electric-powered equipment, and similar appliances.
The number of outlet combinations increases with generator power. The market for portable generators is expanding due to rising demand for affordable and diesel-powered units, a preference for natural gas-powered units, and increasing knowledge about portable generators. On the other hand, the short duration of the power supply and severe environmental regulations regulating the emission of dangerous gases from diesel generators are market restraints for portable generators.
Portable generators are now essential for power backup due to the prevalence of power outages. As the world grows more industrialized, it is only anticipated to rise. Portable generators are often used as a power backup in residential areas and homes. Thus, the market for portable generators is expanding due to increased urbanization and industry.
Key Players:
· Honda Motor Corporation (Japan)
· Westinghouse Electric Corporation (US)
· Duromax (US)
· Cummins, Inc (US
· Champion Power Equipment (US)
· WEN Corporation (US)
· Yamaha Motor Corporation (Japan)
· Generac Power Systems Inc (US)
· Harbor Freight Tools (US)
· Wacker Neuson SE (Germany)
· Pulsar Products Inc. (US)
· Energizer Holding Inc. (US)
· Caterpillar Inc. (US)
· Atlas Copco (India) Ltd. (Sweden)
Market Segment
The portable generators market share has been divided into segments based on area, end-user, application, fuel type, and power rating. The market is divided into three categories based on application: base load, standby power, and peak shaving. One of these is standby power, a significant market application sector. A standby power plant is an electrical power-producing facility that only runs when the distribution system's electricity supply is interrupted.
The market has been divided into diesel, gas, and other fuel types. 2016 saw the biggest market share for the fuel category. During the projection period, it is anticipated to grow at the highest CAGR, largely due to strict environmental regulations that limit the release of dangerous gases from diesel generators. Others in terms of fuel include propane, LPG, and biodiesel.
The market has been divided into industrial, commercial, and residential segments based on end-user segments. Due to the rising demand for in-home power backup, the residential segment made up the bulk of the market. The market is divided into three categories based on power ratings: less than 3 KW, 3 KW–10 KW, and above 10 KW. During the forecast period, the less than 3kW portable generators market is anticipated to expand at a high CAGR.
Regional Analysis
According to region, the market has been split into North America, Europe, Asia Pacific, and the Rest of the World. portable generators market size worldwide is dominated by North America. The region's energy market is expanding as a result of the region's aging grid infrastructure, frequent natural disasters, and steadily rising industrial sector demand.
The U.S. dominates both the North American and international markets for portable generators. During the projected period, the Asia Pacific region is anticipated to grow at the highest CAGR, largely due to factors including the ongoing expansion of building and development activities. China, India, Japan, and Thailand are major participants in the Asia Pacific market.
Industry News
The market for portable generators is undergoing a significant shift due to technological advancements. The leading manufacturers of portable generators, including Honda, Ryobi, DeWalt, Ego Power, and Nexus, have introduced the most recent models with reliable and cutting-edge technology.
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