Portable Generator Market Size 2021 Growing Rapidly with Modern Trends, Development Status, Investment Opportunities, Share & Forecast to 2026

The portable generator market is projected to reach USD 2.5 billion by 2026 from an estimated USD 1.8 billion in 2021, at a CAGR of 6.7% during the forecast period. Increasing instances of power outages owing to aging grid infrastructure and extreme weather conditions are the key factors driving the growth of the portable generator market. Increasing adoption of dual fuel and inverter portable generators are expected to offer lucrative opportunities for the portable generator market during the forecast period. 

Impact of COVID-19 on portable generator market:

COVID-19 has slowed the growth of the portable generator market, as countries were forced to implement lockdowns during the first half of 2020. Strict guidelines were issued by governments and local authorities, and all non-essential operations were halted. This adversely affected the portable generator market owing to the suspension of activities of end users.

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In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the portable generator market, since end-user industries were still not operating at their full capacity.

Asia Pacific is expected to grow at the highest CAGR during the forecast period. Asia Pacific region has been segmented, by country, into China, India, Japan, South Korea, Australia, and Rest of Asia Pacific. Rest of Asia Pacific includes Indonesia, Singapore, Malaysia, Taiwan, and Thailand. The region is the most populated region in the world and is expected to become the largest energy-consuming region globally. It comprises many developing countries and requires more energy for its development. According to the Asian Development Bank (ADB), the region’s share of global energy consumption is expected to increase to 56% by 2035 from 34% in 2010. The industrial sector in China contributed more than 37% of its GDP in 2020. The growth of the industrial sector has tremendously increased power production and consumption in China. These factors have made China one of the most lucrative markets for the power industry. Thus, increase in demand for power is likely to offer growth opportunities for portable generator market during he forecast period.

The portable generator market, by application, is segmented into emergency and prime/continuous. The emergency segment, by application, is projected to hold the highest market share during the forecast period. The growth of this segment is driven by increasing weather-related power outages and aging power generation & distribution networks. Furthermore, the usage of portable generators during emergency backup can prevent food from spoiling, keep lights on, and help in other day-to-day requirements. 

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The report segments the portable generator market, by fuel, into gasoline (petrol), diesel, natural gas, and others. Others includes LPG, propane, and biodiesel. The market for gasoline (petrol) is expected to hold the highest market share during the forecast period. It is majorly used for temporary, intermittent, or low-load applications. Gasoline is a common source of fuel and the easiest to obtain. It is mostly used for running portable generators for a shorter period of time, which is likely to increase their demand in the portable generator market globally.     

On the basis of power rating, below 5 kW, 5–10 kW, and 10–20 kW. The market for gasoline (petrol) is expected to hold the highest market share during the forecast period. The 5–10-kW portable generator, by power rating, is projected to hold the highest market share during 2021–2026. The market for these generators is projected to grow because of the increase in awareness of in-house power backup and demand for portable powering systems in outdoor recreational activities.

The portable generator market, by end user, into residential, commercial, and industrial. The residential segment is expected to hold the highest market share during the forecast period. The increasing number of frequent blackouts and insufficient power supply in some parts of Africa and South America are expected to boost the demand for residential portable generators. 

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Key Market Players:

Atlas Copco (Sweden), Briggs & Stratton (US), Generac (US), Honda (Japan), Yamaha (Japan), Caterpillar (US), Cummins (US), Eaton (Ireland), Honeywell (US), Siemens (Germany), Wacker Neuson (Germany), Kubota (Japan), Kohler (US), Champion (US), Himoinsa (Spain), Duromax (US), Loncin (China), and others.

Browse Related Reports:

Generator Sales Market by Type (Diesel, Gas), Application (Standby, Peak Shaving, Continuous), Power Rating (<100 KVA, 100-350 KVA, 350-1000-2500 KVA, 2500-5000 KVA, >5000 KVA), Sales Channel (Direct, Indirect), End User, Region - Global Forecast to 2026

https://www.marketsandmarkets.com/Market-Reports/generator-sales-market-47544335.html

Asia Pacific Generator Sales Market by Fuel Type (Diesel, Gas), Power Rating (<100kVA, 100-350kVA, 350-1000-2500kVA, 2500-5000kVA, >5000kVA), Application (Standby, Continuous, Peak Shaving), End-User, Country - Forecast to 2025

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The Global Market for Generator Sales 2018-2023 - The Increasing Demand for Uninterrupted and Reliable Power from All End-Users

According to the new market research report “Generator Sales Market by Type (Diesel, Gas), Application (Standby, Peak Shaving, Continuous Power), Power Rating (<100 kVA, 100–350 kVA, 350–1,000 kVA, >1,000 kVA), End-User (Residential, Commercial, Industrial), and Region - Global forecast to 2023 “, published by MarketsandMarkets™, global generator sales market is projected to reach USD 27.24 billion by 2023, growing at a CAGR of 5.41%, from 2018 to 2023.

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This market growth is primarily driven by the growing demand for uninterrupted and reliable power and rapid urbanization in developing countries in Asia Pacific and the Middle East & Africa. Increased investments in IT infrastructure management and healthcare infrastructure are also expected to fuel the growth of the generator sales market during the forecast period.

Browse and in-depth TOC on “Generator Sales Market “

80 - Tables

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The other fuel segment which includes propane, LPG, and bio-diesel is expected to be the fastest-growing fuel segment of the generator sales market, from 2018 to 2023. Countries around the world have set emission reduction targets and are working toward achieving these targets, which has resulted in the increased share of environmentally friendly fuel for power production. Countries such as the US, Brazil, Canada, Germany, France, and the UK are expected to increase their focus on environmentally friendly technologies, driving the market for propane, LPG, and bio-diesel-powered generators during the forecast period. 

The industrial segment is expected to be the fastest-growing segment of the generator sales market, by end-user, during the forecast period. The industrial end-user segment includes the utility/power generation, oil & gas, and other industries such as mining, marine, chemicals, military, and manufacturing. Growth of the oil & gas sector in China, Mexico, the US, Canada, and African countries is creating a new market for generator sets. Also, growth of the manufacturing sector in Asia Pacific is expected to drive the demand for generators.

The above 1,000 kVA power rating segment is expected to be the fastest-growing segment of the generator sales market during the forecast period. Above 1,000 kVA generators are mainly used for CHP plants, large manufacturing units, power plants, and marine applications. Above 1,000 kVA generators are economical and can be deployed for continuous power applications. The adoption of natural gas and other renewable gases for the above 1,000 kVA generators is the major reason for the fastest growth projection of the segment during the forecast period.

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The standby segment is expected to be the fastest-growing segment of the generator sales market, from 2018 to 2023. Standby power generators are used in applications where regular power supply is necessary to carry out operations. The increasing demand for uninterrupted and reliable power, stringent building codes and safety guidelines for critical infrastructure, and increasing demand for backup power from the residential sector are major factors due to which the standby segment is projected to grow at the highest CAGR during the forecast period. 

Asia Pacific is expected to be the fastest-growing market for generators sales, from 2018 to 2023, followed by the Middle East & Africa. Countries such as the US, China, Canada, Saudi Arabia, Russia, Germany, and India are the largest markets for generator sales. India and China are rapidly developing large economies. Both countries are implementing policies to boost their industrial sectors. Inadequate power transmission and distribution networks in developing countries in Asia Pacific are also expected to create a demand for generator sets. Due to these factors, Asia Pacific is projected to grow at the highest CAGR during the forecast period. 

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