Portable Generator Market Prospects And Forecast 2031

The Portable Generator Market size is projected to reach US$ 7.28 billion by 2031 from US$ 4.85 billion in 2023. The market is expected to register a CAGR of 5.2% in 2023-2031. Portable generators are primarily utilized at the time of temporary or remote power requirements. Additionally, portable generators are also used to manage the power outrages caused by natural disasters.

The growing incidents of power outrages owing to natural disasters are one of the prime factors boosting the demand for portable generators globally. Increasing energy demand and lack of power transmission and distribution infrastructure in remote or distant locations are boosting the application of portable generators at the global level.

Portable generators are stand-alone power devices primarily designed to offer electricity when required, without any permanent or proper power infrastructure. Portable generators are compact and efficient at generating electricity in short-term power outages, making them a suitable option for the residential sector. The portable generator market is classified in terms of fuel type, power rating, application, and end user.

Key Players of Portable Generator Market
Atlas Copco
Aggreko
General Elecric
Cummins Inc.
Eaton Corporation
Generac Power Systems, Inc.
Honda India Power Products Ltd.
Honeywell
Kohler Co.
Yamaha Motor Co., Ltd.

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The growing incidents of natural disasters such as tropical cyclones, floods, and earthquakes generally disrupt the power transmission and distribution infrastructure, which primarily boosts the demand for portable generators for continuous power supply. The increasing demand for power backups and the requirement for continuous power supply in time of requirement is also acting as a major driver for the portable generator market.

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Portable Generator Market Share Analysis by Geography
Asia Pacific led the portable generator market in 2023. The Asia Pacific region includes China, India, Australia, Japan and South Korea. The high presence of portable generator companies and the developing residential and industrial sectors is acting as a major driver for the portable generator market in Asia Pacific. Increasing incidents of natural disasters and growing demand for emergency power supply in remote locations are also anticipated to propel the demand for portable generators over the forecast period.

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This release was published on openPR.