Next 10 Years To See Portable Generators Market Spelling An Organically Planned Growth At A CAGR Of 5.5% : Fact.MR

Fact.MR establishes that the global portable generators market is expected to be valued at US$ 850 Mn in 2021, reflecting a CAGR of 6.5% over the upcoming decade (2021-2031). Portable generators powered by diesel or gasoline are thought to be significant contributors to CO2 emissions. Diesel generators, for example, are prohibited in many European towns due to excessive levels of pollution.

From 2016 to 2020, sales of portable generators accelerated at a CAGR of 5.5%. During the pandemic crisis, demand somewhat contracted, amid supply constraints in the first half. Eventually, demand accelerated, as stay-at-home directives prompted an increase in electricity consumption levels, for professional and leisurely purposes.

To address the pollution issue without jeopardizing energy supply, market participants have developed hybrid generators that may drastically cut emissions. Photovoltaic (PV) diesel hybrid generators have recently gained popularity. Furthermore, substantial R&D and innovation investment has opened the road for novel hybrid generators, which may be ascribed to shifting customer preferences as well as rigorous environmental rules imposed by government authorities. On the back of these trends, the market is likely to reach US$ 1.5 Bn by 2031.

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Key Segments Covered

Power Output
Less than 1 KW Portable Generators
1-3. KW Portable Generators
3-5KW Portable Generators
More than 5 KW Portable Generators

End Use
Commercial Portable Generators
Residential Portable Generators
Industrial Portable Generators
Agricultural Portable Generators
Others

Application
Standby Backup Power Portable Generators
Continuous Power Portable Generators

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Key Takeaways from the Market Study

1-3 KW power output generators to generate US$ 300 Mn in revenue by 2031

Standby backup generators sales to account for 3/4th of global revenue share

Residential usage to contribute around 20% value share to the global market

Uptake across commercial settings to rise, yielding an opportunity worth US$ 50 Mn by 2031

U.S to experience high uptake, registering a CAGR of 6% from 2021-2031

India to be an attractive market across Asia, expanding at 7.5% CAGR

China to emerge as the fastest growing market, clocking an 8% value CAGR

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Competitive Landscape
Market participants have been investing in R&D to produce new, innovative goods such as hybrid generators. These advancements will propel the portable generators business forward in the medium- to long-term projection period.

Pika, a manufacturer of residential energy storage devices, was bought by Generac in May 2019. The acquisition was made in order to integrate Pika's expertise with transportable industrial and commercial generators. The firm provides backup power devices in a variety of places, including Puerto Rico, where recent natural disasters have affected power delivery.

Cummins introduced the QG 2800i and 2500i, which are 60% quieter RV inverter generators for the recreational vehicle industry, in January 2021. They are powered by gasoline and liquid propane (LP). The Onan QG 2800i and 2500i are 2.8-kW and 2.5-kW inverter-based generator sets designed primarily for Class B and truck campers, respectively.

More Insights Available

Fact.MR, in its new report, offers an unbiased analysis of the global portable generators market, analyzing historical demand from 2016-2020 and forecast statistics for 2021-2031.

The study reveals growth projections on the portable generators market on the basis of power output (less than 1 KW, 1-3 KW, 3-5 KW and more than 5 KW), end use (commercial, residential, industrial, agricultural and others) and application (standby backup power and continuous power) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).

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