Portable Generator Market to Witness Huge Growth by Key Players: Honda, Generac, Yamaha, Cummins, Atlas Copco

The Portable Generator Market refers to the sales of portable generators, which are compact and lightweight power sources that can be easily transported to provide temporary electricity supply in outdoor or remote locations. Portable generators are commonly used for emergency backup power, outdoor events, construction sites, and recreational activities. The market for portable generators is driven by factors such as increasing natural disasters, power outages, and rising demand for outdoor recreational activities. Key players in the portable generator market include Honda, Atlas Copco, and Generac Power Systems.

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The Portable generators market is expected to grow at a CAGR of 6.0% during the forecast period, from an estimated USD 2.2 Billion in 2022 to USD 2.9 Billion in 2027. The growth of portable generators is mainly driven by the increasing number of weather-related & nonweather-related power outages, and aging grid infrastructure.

"5 - 10 kW is expected to emerge as the fastest segment based on power rating"
The 5-10 kW portable generators are majorly used in camping and recreational applications as an emergency power source. For instance, in North America the camping activities was seen to be following increasing trend from past few years, according to KOA which is expected to rise the usage of portable generators as a backup sources. This rise in these outdoor activities are some of the factors contributing to the growth of this market segment.

"Conventional Generator: The largest segment for the portable generators market, by product type"
Conventional generators maintain their speed in order to produce electricity. Some have an idle mode that will save fuel when nothing is drawing electricity. The demand for electricity increases as the usage of the machine tools in work shops or turning on a light bulb is needed. The amount of fuel required increases and so does the noise because the generator engine is working harder.

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"North America is expected to be the second largest market during the forecast period."
The countries included are the US, Canada, and Mexico. North America is one of the leading manufacturers and consumer of electricity. The massive industrial sector of North America lies in the territory of US and Canada thus both of them contributed the largest share in electricity generation. The largest consumers of energy are US and Canada countries in the region level and the global level as well which are contributing to the largest share of the portable generator market. Environmental distress, power shortages, and the new exploration activities for the natural gas fuel, and peak time electricity costs are expected to push the portable generator market in this region.

Breakdown of Primaries:
Interviews have been conducted with various key industry, and subject-matter experts, C-level executives of key market players to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
• By Company Type: Tier 1- 35%, Tier 2- 30%and Tier 3- 25%
• By Designation: C-Level- 35%, Directors - 25%, and Others- 40%
• By Region: North America- 25%, Europe- 20%, Asia Pacific- 35%, the Middle East & Africa- 12%, and South America-8%

Note: Others includes product engineers, product specialists, and engineering leads.

Note: The tiers of the companies are defined based on their total revenues as of 2021. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

The portable generators market is dominated by a few major players that have a significant regional presence. The leading players in the portable generators market are. Honda (Japan), Generac (US), Yamaha (Japan), Cummins (US), Atlas Copco (Sweden).

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Research Coverage:
The report defines, describes, and forecasts the global portable generators market, by product type, by fuel, end user, and Application. The report provides a comprehensive review of the market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the portable generators market.

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This release was published on openPR.