Portable Generators Global Market Report 2024

A portable generator is a device that provides electrical power in locations where electricity is unavailable or needed temporarily. Typically powered by gas or diesel, it is designed to be easily transportable and measures power in hours of use rather than days. These generators operate by running a gas-powered engine that turns an on-board alternator, generating electrical power. Widely used on work and leisure sites, portable generators offer a convenient source of temporary electric power.

The main types of portable generators are conventional portable generators and inverter portable generators. Inverter portable generators have variable speeds depending on the required power for a task, allowing for increased fuel efficiency. Some models have fixed speed set points to manage frequent load changes as small loads turn on and off. Portable generators use fuels such as diesel, gas, and others, catering to residential, commercial, and industrial end users.

The portable generator market research report is one of a series of new reports that provides portable generator market statistics, including portable generator industry global market size, regional shares, competitors with a portable generator market share, detailed portable generator market segments, market trends and opportunities, and any further data you may need to thrive in the portable generator industry. This portable generator market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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 observed in the historical period can be attributed to factors such as the rise in power outages, growth in the construction industry, increased participation in outdoor activities, a surge in demand for home power backup solutions, and government support initiatives.

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 anticipated growth in the forecast period can be attributed to factors like the increasing prevalence of remote work, aging grid infrastructure, environmental regulations driving the need for reliable power sources, and rising disposable income. Notable trends expected in the forecast period encompass the emergence of hybrid and dual-fuel generators, the integration of smart generator technology, the development of solar-powered portable generators, the adoption of eco-friendly generators, and the integration of lithium-ion batteries in generator systems.

The portable generators market is experiencing growth, driven by the increasing rate of urbanization and the rising frequency of power grid failures. Many countries face challenges in proper grid infrastructure, leading to inadequate power supply in residential and industrial areas. Portable generators offer a reliable power source during blackouts, ensuring continuous electricity supply for both residential and industrial applications. Concerns about power instability due to natural disasters further contribute to the growing demand for portable generators. According to The World Bank, urbanization is on the rise, with 4.4 billion people, or 56% of the world's population, residing in urban areas. This trend is expected to continue, leading to an increased demand for portable generators by 2050.

The portable generator market is expected to be fueled by the growing demand for consumer electronics. Consumer electronics, used by end-users on a daily basis, often rely on portable generators for power supply. The India Cellular & Electronics Association (ICEA) reports a potential value of US$ 100 billion in laptop and tablet manufacturing in India by 2025. With a surge in smartphone shipments and increasing market revenue, the demand for portable generators as efficient and cost-effective electricity sources for consumer electronics is expected to rise.

The use of bi-fuel portable generators is a notable trend in the market. Manufacturers are investing in technological advancements to develop bi-fuel technology, which combines two fuel types, such as diesel and natural gas. Bi-fuel generators offer fuel efficiency, extended running times, and enhanced reliability. They also address environmental concerns by emitting fewer pollutants compared to standard diesel generators. Generac’s Bi-Fuel generators, for example, are EPA certified, emitting approximately 30% fewer nitrogen oxides and 50% less particulate matter than comparable diesel-only units.

Major companies in the portable generators market are concentrating on innovative technologies to decrease charging time and meet consumer demand. The introduction of mini portable power stations, compact devices providing a portable power source, exemplifies this effort. EcoFlow, a US-based provider of portable power and renewable energy solutions, launched the DELTA mini portable power station in September 2021. This device, featuring patented X-Stream AC fast recharge technology, can rapidly charge devices, reaching 80% charge within one hour and 100% charge in 1.6 hours using standard AC outlets - the fastest charging speed available in the market. Additionally, the DELTA mini includes a built-in smart inverter or adapter, eliminating the need for consumers to carry an additional charger brick.

In September 2021, SimpliPhi Power, a US-based distributed battery energy storage provider, acquired Briggs & Stratton for an undisclosed amount. This acquisition aims to enhance SimpliPhi Power's product portfolio in the portable generator market. Briggs & Stratton Corporation, a US-based company specializing in gasoline engines and portable generators, brings additional expertise and resources to further strengthen the market presence of SimpliPhi Power.

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

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 portable generator report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the portable generators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The portable generator market consists of sales of air cooled generator set, PTO generator, electric start generator, digital inverter generator. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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