Portable Generator Market: Trends, Challenges, and Opportunities

Portable Generator Industry Overview

 

The global portable generator market size was valued at USD 4.48 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2023 to 2030. The portable generator industry is being driven by a number of factors, including the increasing need for backup power solutions in the event of natural disasters and power outages. With severe weather events becoming more frequent and more intense, consumers are looking for reliable generators that can keep their homes and businesses powered in times of crisis. At the same time, the growing popularity of outdoor activities, such as camping and tailgating, which require portable power sources for appliances and electronic devices is also a significant factor driving the growth of the market.

 

Several portable generator solution providers are increasingly focusing on developing dual-fuel capable portable solutions to offer customers an efficient portable solution. For instance, In May 2022, Generac Power Systems, Inc., an energy technology solution provider, introduced two new dual-fuel capable Powermate portable generators such as the Powermate 7500 Watt Dual Fuel Portable Generator and Powermate 4500 Watt Dual Fuel Portable Generator. Both variants are intended to run on either gasoline or compressed natural gas. The Powermate 4500 Watt Dual Fuel Portable Generator has 4,500 starting watts and 3,600 operating watts (gas), making it powerful enough to power small electrical appliances at any campground or picnic spot while also being versatile enough to power equipment for home-based chores.

 

Gather more insights about the market drivers, restrains and growth of the Portable Generator Market

 

In recent years, there has been a significant rise in the instances of power outages in the U.S. owing to extreme weather conditions. With climate change leading to more frequent and severe weather events, such as hurricanes, tornadoes, and wildfires, power grids are being increasingly challenged to keep up with the demands of a changing climate. For instance, according to the U.S. Energy Information Administration’s annual power industry report of 2021, the average electricity customer was without power for 7 hours and 20 minutes that year, with more than 5 of those hours (72%) attributed to major weather events such as hurricanes, wildfires, and snowstorms. As a result, there is a growing need for backup power solutions, such as portable generators, to help keep homes and businesses powered during outages.

 

Solar-based portable generators are used in emergencies, providing a reliable power source during power outages or other disasters. With climate change becoming an increasing concern, consumers are looking for renewable and sustainable alternatives to traditional gasoline generators, and solar-based portable generators fit the bill perfectly. While they may be more expensive upfront than traditional gasoline generators, solar-based portable generators can save cost over time, as they do not require fuel and have minimal ongoing maintenance costs. Additionally, the increasing popularity of outdoor activities, such as camping and tailgating, has created a demand for portable power solutions that can be used in remote locations where access to traditional power sources may be limited.

 

The demand for portable generators powered by biofuel, a sustainable energy source, has increased as awareness of global warming has increased. Due to its chemical similarities to petroleum-based fuels, biofuel can be used as a straight replacement for diesel fuel. Moreover, biofuel gives nations like Japan and Italy—which buy natural gas and petroleum from other nations—energy independence. Canola, soybean, corn, leftover cooking oil, and animal fats may all be utilized to make biofuels. Hence, the participants in the market for portable generator would benefit from the rising demand for generators that run on biofuel. However, key reasons constraining market expansion are stringent environmental restrictions aimed at reducing carbon emissions.

 

Browse through Grand View Research’s Category Backup Power Solutions Industry Research Reports.

• The global residential gas generator market is expected to grow over the forecast period on account of increasing power cuts, especially in Asia Pacific. A generator is the combination of a fossil-fuel-powered engine mounted together with an electrical gensets. Gensets are among the cost-effective, efficient, most reliable source of backup power.

• The U.S. high capacity power banks market is expected to grow significantly over the forecast period, growing at a CAGR of over 20% from 2015 to 2022. This growth can be attributed to high demand from consumer electronics appliances. Power banks above 20,000 mAh typically fall under this category.

 

Portable Generator Market Segmentation

 

Grand View Research has segmented the portable generator market based on product, power range, application, end use, and region.

 

Portable Generator Product Outlook (Revenue, USD Million, 2017 – 2030)

• Diesel Generator
• Gaseous Generator
• Gasoline Generator
• Others

 

Portable Generator Power Range Outlook (Revenue, USD Million, 2017 – 2030)

• Low Power (8 – 20KW)
• Medium Power (21 – 370KW)
• High Power (371 – 450KW)

 

Portable Generator Application Outlook (Revenue, USD Million, 2017 – 2030)

• Prime/Continuous
• Emergency

 

Portable Generator End-use Outlook (Revenue, USD Million, 2017 – 2030)

• Commercial
• Residential
• Industrial
o Construction
o Mining
o Oil & Gas
o Others

 

Portable Generator Regional Outlook (Revenue, USD Million, 2017 – 2030)

• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
• Asia Pacific
o China
o India
o Japan
• Latin America
o Brazil
o Mexico
• Middle East & Africa (MEA)

 

Order a free sample PDF of the Portable Generator Market Intelligence Study, published by Grand View Research.

 

Key Companies profiled:

• Briggs & Stratton Corporation
• Champion Power Equipment
• Caterpillar, Inc.
• Cummins Inc.
• Generac Power Systems, Inc.
• Kohler Co.
• Multiquip Inc.
• WINCO
• Yamaha Motor Corporation, U.S.A.
• Duromax Power Equipment