Portable Generators Market 2024-2033: Production Analysis, Segmentation, Key Drivers And Top Players

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Portable Generators Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $6.33 billion In 2028 At A CAGR Of 4.2% :

The portable generators market size has grown steadily in recent years. It will grow from $5.14 billion in 2023 to $5.37 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to rise in power outages, construction industry growth, rise in outdoor activities, rise in demand for home power backup, governmnet support.

The portable generators market size is expected to see steady growth in the next few years. It will grow to $6.33 billion in 2028 at a compound annual growth rate (CAGR) of 4.2%. The growth in the forecast period can be attributed to rising remote work, aging grid infrastructure, environmental regulations, rising disposable income. Major trends in the forecast period include hybrid and dual-fuel generators, smart generator technology, solar-powered portable generators, eco-friendly generators, integration of lithium-ion batteries.

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Portable Generators Market Major Segments
The portable generators market covered in this report is segmented -

1) By Fuel Type: Diesel, Gas, Other Fuel Types
2) By Product Type: Conventional Portable Generator, Inverter Portable Generator
3) By End-User: Residential, Commericial, Industrial

Key Driver - Urbanization And Power Grid Failures Drive Growth In The Portable Generators Market

The growing rate of urbanization coupled with the increasing frequency of power grid failures is propelling the growth of the portable generators market. Electricity is key to the economic progress of a nation but many countries in the world do not have proper grid infrastructure due to which there is an inadequate power supply which hampers operations of residential and industrial spaces. Portable generators help provide a reliable power supply during a blackout and ensure continuous electricity supply for residential applications, as well. Moreover, rising concerns about power instability in the residential sector due to natural calamity, and uninterrupted operations are also driving the portable generator market. For instance, in October 2022, The World Bank, an a US-based international financial institution, 4.4 billion people, or 56% of the world's population, reside in urban areas. By 2050, approximately 7 out of 10 people will live in cities, with the urban population predicted to more than double from its current level. This surge in urbanization leads to an increase in the demand for portable generators.

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Prominent Trend - Growth Of Bi-Fuel Portable Generators

The use of bi-fuel portable generators is a key trend gaining popularity in the portable generators market. Portable generator manufacturers have been working on technological advancements to help develop bi-fuel technology. Bi-fuel portable generators provide fuel efficiency by making use of two fuel types, generally utilizing both diesel and natural gas, providing extended running times and significant reliability. These generators are scalable and reduce the costs of storing and managing large quantities of diesel fuel. Furthermore, governments are implementing strict regulations primarily for diesel fuel-powered engines. Bi-fuel portable generators are more environmentally friendly emitting far less NOx and particulate matter than a standard diesel generator. For instance, Generac's Bi-Fuel are EPA certified and emit about 30% fewer nitrogen oxides and 50% less particulate matter than comparable diesel-only units.

Portable Generators Market Players
Major companies operating in the portable generators market include YellowScan, Kohler Co., General Electric Company, Caterpillar Inc., Cummins Inc., Honeywell International Inc., Generac Power Systems Inc., Eaton Plc, Briggs & Stratton Corporation, Atlas Copco (India) Ltd., WackerNeuson SE., WIN Co., Harrington Generators International Ltd., Multiquip Inc., Kirloskar Electric Co. Ltd., Stanley Black & Decker Inc., STEPHILL GENERATORS LTD, Techtronic Industries Co. Ltd., Honda Power Equipment, WEN Products, Westinghouse Electric Corporation, DuroMax Power Equipment, Firman Power Equipment, Doosan Portable Power, Ingersoll Rand, Himoinsa S.L., Pramac Co., Ryobi Limited, DeWalt Inc., Greenworks Tools, ECHO Incorporated, Lifan Power USA, All Power America LLC

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the portable generators market in 2023. North America was the second largest region in the electrical and electronics market. The regions covered in the portable generators market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Portable Generators Market Report Structure
3. Portable Generators Market Trends And Strategies
4. Portable Generators Market - Macro Economic Scenario
5. Portable Generators Market Size And Growth
…..
27. Portable Generators Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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