Portable Generator Market Size, Share, & Trends Analysis Report By Product (Diesel,Gaseous, Gasoline), By Power Range, By Application (Prime/Continuous, Emergency), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Portable Generator Market Size & Trends

The global portable generator market size was valued at USD 4.48 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.3% from 2023 to 2030. The portable generator industry is being driven by a number of factors, including the increasing need for backup power solutions in the event of natural disasters and power outages. With severe weather events becoming more frequent and more intense, consumers are looking for reliable generators that can keep their homes and businesses powered in times of crisis. At the same time, the growing popularity of outdoor activities, such as camping and tailgating, which require portable power sources for appliances and electronic devices is also a significant factor driving the growth of the market.

Several portable generator solution providers are increasingly focusing on developing dual-fuel capable portable solutions to offer customers an efficient portable solution. For instance, In May 2022, Generac Power Systems, Inc., an energy technology solution provider, introduced two new dual-fuel capable Powermate portable generators such as the Powermate 7500 Watt Dual Fuel Portable Generator and Powermate 4500 Watt Dual Fuel Portable Generator. Both variants are intended to run on either gasoline or compressed natural gas. The Powermate 4500 Watt Dual Fuel Portable Generator has 4,500 starting watts and 3,600 operating watts (gas), making it powerful enough to power small electrical appliances at any campground or picnic spot while also being versatile enough to power equipment for home-based chores.

In recent years, there has been a significant rise in the instances of power outages in the U.S. owing to extreme weather conditions. With climate change leading to more frequent and severe weather events, such as hurricanes, tornadoes, and wildfires, power grids are being increasingly challenged to keep up with the demands of a changing climate. For instance, according to the U.S. Energy Information Administration's annual power industry report of 2021, the average electricity customer was without power for 7 hours and 20 minutes that year, with more than 5 of those hours (72%) attributed to major weather events such as hurricanes, wildfires, and snowstorms. As a result, there is a growing need for backup power solutions, such as portable generators, to help keep homes and businesses powered during outages.

Solar-based portable generators are used in emergencies, providing a reliable power source during power outages or other disasters. With climate change becoming an increasing concern, consumers are looking for renewable and sustainable alternatives to traditional gasoline generators, and solar-based portable generators fit the bill perfectly. While they may be more expensive upfront than traditional gasoline generators, solar-based portable generators can save cost over time, as they do not require fuel and have minimal ongoing maintenance costs. Additionally, the increasing popularity of outdoor activities, such as camping and tailgating, has created a demand for portable power solutions that can be used in remote locations where access to traditional power sources may be limited.

The demand for portable generators powered by biofuel, a sustainable energy source, has increased as awareness of global warming has increased. Due to its chemical similarities to petroleum-based fuels, biofuel can be used as a straight replacement for diesel fuel. Moreover, biofuel gives nations like Japan and Italy—which buy natural gas and petroleum from other nations—energy independence. Canola, soybean, corn, leftover cooking oil, and animal fats may all be utilized to make biofuels. Hence, the participants in the market for portable generator would benefit from the rising demand for generators that run on biofuel. However, key reasons constraining market expansion are stringent environmental restrictions aimed at reducing carbon emissions.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a positive impact on the market. The pandemic has led to an increase in demand for portable generators as more people are spending time at home and relying on backup power solutions to stay connected during power outages. With more people working remotely and attending virtual school, access to reliable power has become more important than ever. Additionally, the pandemic has led to an increase in outdoor activities, as people seek safe ways to socialize and enjoy leisure time. These activities often require portable power solutions, which has further driven the demand of portable generators.

Product Insights

The gasoline generator segment dominated the market in 2022 and accounted for more than 42.0% share of the global revenue. The driving factors for the gasoline based portable generator market include their affordability, versatility, and convenience. Gasoline generators are often less expensive than other types of backup power solutions, making them a popular choice for consumers on a budget. Additionally, gasoline generators can be used in a wide range of applications, from powering outdoor events to providing backup power for homes and businesses during power outages. Hence the convenience of gasoline based portable generators make them a popular choice for consumers seeking reliable backup power solutions.

The gaseous generator segment is poised to witness the fastest growth during the forecast period. Factors such as lower emissions, fuel efficiency, and reliability offered by natural gas portable generators are the major factors driving the segment's growth. Natural gas offers cleaner burning fuels than gasoline, producing fewer emissions and pollutants. This makes them a popular choice for consumers concerned about their power usage's environmental impact. Additionally, gaseous-based portable generators are typically more fuel-efficient than gasoline generators, meaning they can run for more extended periods of time on a smaller amount of fuel. Such factors bode well for the growth of the segment over the forecast period.

Power Range Insights

The low power generator segment dominated the market in 2022 and accounted for more than 40.0% share of the global revenue. The low power generators segment dominated the market as these generators are widely used for residential and commercial purposes for powering air conditioners, water pumps, and refrigerators. These generators are often used as a reliable backup power source for small businesses, and other settings where access to grid power may be limited or unavailable. They are also popular for outdoor events and job sites where power tools and equipment may need to be used. Low power portable generators in this range are typically more affordable than larger standby generators and can provide enough power to run essential appliances and electronics during a power outage.

The medium power generators segment is expected to grow at the highest CAGR over the forecast period owing to the increasing adoption of these generators in the business and organizations. The primary driving factors for the demand for these generators are the need for reliable backup power and remote power generation. Businesses and organizations rely on continuous power supply to keep their operations running in the event of power outages, and these medium power generators provide a reliable solution to ensure that they do not face any interruptions. Additionally, medium power generators are often used in remote locations where grid power is not available, such as construction sites, mining operations, and outdoor events. The compact and portable nature of these generators makes them a versatile power source for a variety of application, thereby contributing to the growth of the segment.

Application Insights

The emergency segment dominated the market in 2022 and accounted for more than 65.0% share of the global revenue. The demand for emergency portable generators is primarily driven by the need for reliable backup power in the event of power outages or emergencies. Emergency generators are primarily designed to provide backup power in the event of an outage or power failure, and they are typically used in residential and commercial settings. These generators are often smaller in size and portable, making them easy to transport and install. Additionally, the aging power infrastructure in many areas has led to an increased risk of power failures, further fueling the demand for emergency generators.

The prime/continuous segment is expected to expand at a moderate CAGR over the forecast period owing to the increasing adoption of these generators providing power for longer durations. One of the main driving factors for the use of prime/continuous portable generators is the growth of the construction industry, which relies heavily on portable generators to power tools and equipment on job sites. Additionally, the expansion of the oil and gas industry, which requires reliable power for drilling and extraction operations in remote locations, is another driving factor for the use of prime/continuous portable generators. Furthermore, the need for emergency power in critical facilities, such as hospitals, data centers, and airports, has also contributed to the growth of the prime/continuous portable generator market, as these facilities require continuous and reliable power to function properly.

End-use Insights

The residential segment dominated the market in 2022 and accounted for more than 40.0% share of the global revenue. The segment growth can be attributed to the increasing frequency of severe weather events, such as hurricanes and snowstorms, which can cause power outages and leave homeowners without electricity for days or even weeks. As a result, many homeowners are turning to portable generators as reliable backup power sources to ensure they can continue to power their essential appliances and electronics during these outages. Additionally, another trend driving the segment growth is the growing demand for portable generators that are easy to use, compact, and portable, allowing homeowners to take them on camping trips or use them for outdoor events.

The industrial segment is expected to expand at a moderate CAGR over the forecast period. The segment growth can be attributed to the need for reliable backup power in industries that rely on continuous operations, such as manufacturing and data centers. Portable generators provide a reliable source of backup power to ensure that these operations can continue in the event of a power outage. At the same time, the increasing demand for clean and sustainable power, which has led to the development of new portable generators that use alternative fuels, such as propane and natural gas, and are more fuel-efficient and emit fewer emissions than traditional diesel generators are driving the segment growth. The growth of the construction industry and the need for portable power solutions on job sites has also contributed to the increasing adoption of portable generators in the industrial end use.

Regional Insights

The Asia Pacific region dominated the market and accounted for more than 32.0% share in 2022 of the overall revenue and expected to retain its dominance over the forecast period. The regional can be attributed to the increasing demand for reliable and accessible power in emerging markets, such as India and China, where grid power is often unreliable or inaccessible in rural areas. Portable generators provide a reliable and cost-effective solution for powering homes, small businesses, and farms in these areas. The growing construction industry in the region, which is also driving demand for portable generators for use on job sites to power tools and equipment. The increasing number of natural disasters, such as typhoons and earthquakes, in the region has also contributed to the growing demand for portable generators for emergency backup power.

The North America region is expected to expand at a moderate CAGR over the forecast period owing to the rising need for reliable backup power due to the increasing frequency of natural disasters and extreme weather events. This has led to more consumers seeking portable generators to ensure uninterrupted power supply for their homes and businesses during power outages. Moreover, as per the International Energy Agency reports of 2021, the U.S. is the world's second largest energy user behind China, with a massive electrical consumption. Despite the country's sophisticated energy grid architecture and 100% electricity availability, concerns such as power outages and rising demand for standby power sources are likely to increase demand for the portable generator industry.

Key Companies & Market Share Insights

Key players in the market are focusing on investing in research and development activities to create new and innovative products that offer improved features and benefits to customers. This can help to differentiate their products from competitors and attract new customers. The prominent companies are also seeking to expand their business through strategic partnerships or acquisitions. This can help to expand their product offerings or access new markets more quickly than through organic growth. Companies are also focus on increasing their market share by expanding their distribution networks and increasing their marketing efforts. This can involve targeting new geographic markets or customer segments, offering promotions or discounts, and building strong relationships with retailers and dealers. Some of the prominent players in the portable generator market include:

• Briggs & Stratton Corporation

• Champion Power Equipment

• Caterpillar, Inc.

• Cummins Inc.

• Generac Power Systems, Inc.

• Kohler Co.

• Multiquip Inc.

• WINCO

• Yamaha Motor Corporation, U.S.A.

• Duromax Power Equipment

Portable Generator Market Report Scope

Global Portable Generator Market Report Segmentation

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the portable generator market based on product, power range, application, end use, and region.

• Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Diesel Generator

  • Gaseous Generator

  • Gasoline Generator

  • Others

• Power Range Outlook (Revenue, USD Million, 2017 - 2030)

  • Low Power (8 - 20KW)

  • Medium Power (21 - 370KW)

  • High Power (371 - 450KW)

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Prime/Continuous

  • Emergency

• End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Commercial

  • Residential

  • Industrial

    • Construction

    • Mining

    • Oil & Gas

    • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa (MEA)