NEW
YORK, June 17, 2024 /PRNewswire/ -- The global
portable generator market size is estimated to grow by
USD 2.17 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of about 5.79% during the forecast period. Inability of
power infrastructure to keep pace with rapid urbanization and
industrialization is driving market growth, with a trend
towards emergence of dual-fuel generator technology.
However, emerging alternatives to generators poses a
challenge. Key market players include Atlas Copco AB, Briggs and
Stratton LLC, Caterpillar Inc., Cummins Inc., Deere and Co., Doosan
Corp., Eaton Corp. Plc, Generac Holdings Inc., H.S. ENGINEERS,
Himalayan Power Machines Co., Honda Motor Co. Ltd., Honeywell
International Inc., ITOCHU Corp., KAZANCI HOLDING, Kirloskar Oil
Engines Ltd., Siemens AG, Skyline Power Solutions, Wacker Neuson
SE, Yamaha Motor Co. Ltd., and Yanmar Holdings Co. Ltd..
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segments, customer landscape, and companies - View the
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Type (Diesel and Gas),
End-user (Residential, Commercial, and Industrial and
infrastructure), and Geography (APAC, Europe, North America, South
America, and Middle East and Africa)
|
Region
Covered
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
Key companies
profiled
|
Atlas Copco AB, Briggs
and Stratton LLC, Caterpillar Inc., Cummins Inc., Deere and Co.,
Doosan Corp., Eaton Corp. Plc, Generac Holdings Inc., H.S.
ENGINEERS, Himalayan Power Machines Co., Honda Motor Co. Ltd.,
Honeywell International Inc., ITOCHU Corp., KAZANCI HOLDING,
Kirloskar Oil Engines Ltd., Siemens AG, Skyline Power Solutions,
Wacker Neuson SE, Yamaha Motor Co. Ltd., and Yanmar Holdings Co.
Ltd.
|
Key Market Trends Fueling Growth
The portable generator market is experiencing significant growth
due to the increasing adoption of dual-fuel systems. These systems
enable engines to run on both diesel and compressed natural gas
(CNG), reducing fuel expenses by approximately 50%. The trend is
driven by the volatility of fuel prices, stricter emission norms,
and the cleaner properties of natural gas. Dual-fuel engines
provide similar torque curves, transient response, and power
density as diesel engines, making them a reliable and
cost-effective solution for portable power generation.
The portable generator market is experiencing significant growth
due to increasing demand for backup power sources. Recent trends
include the use of fuel-efficient and quiet generators, as well as
those with longer runtimes. Carbon monoxide detection systems and
remote start capabilities are also popular features. The market is
competitive with major players offering a range of models, from
compact and lightweight to heavy-duty and industrial-grade. Prices
vary based on power output, features, and fuel type. The industry
is expected to continue growing due to the increasing need for
reliable power sources in both residential and commercial
applications.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The portable generator market faces increasing competition from
alternative backup solutions, such as power packs. These power
packs, also known as battery backup systems, consist of a large
battery and an inverter. They offer user-friendly features,
including AC wall plug-styled outlets and USB ports. Advanced
battery technology allows these power packs to generate enough AC
voltage for entire apartments or commercial spaces.
- Manufacturers like Luminous, Amaron Batteries, and Microtek
have compacted these units for easy plug-and-play use. Residential
consumers prefer these eco-friendly and cost-effective
alternatives, potentially impacting the growth of the portable
generator market.
- The portable generator market faces several challenges. Natural
disasters and power outages necessitate the need for reliable
backup power solutions. However, the industry encounters issues
such as high competition, varying fuel types, and differing power
output requirements.
- Outdoor usage and transportation constraints add complexity.
Extreme weather conditions can impact performance and durability.
Additionally, the ongoing shift towards renewable energy sources
poses a challenge to traditional generator manufacturers.
- To stay competitive, companies must focus on innovation,
efficiency, and cost-effectiveness. Meeting customer demands for
quieter, lighter, and more fuel-efficient generators is crucial.
Collaborating with technology partners to integrate smart features
and remote monitoring capabilities can also differentiate offerings
in the market.
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challenges - Download a Sample Report
Segment Overview
- Type
- End-user
- 2.1 Residential
- 2.2 Commercial
- 2.3 Industrial and infrastructure
- Geography
- 3.1 APAC
- 3.2 Europe
- 3.3 North America
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Diesel- The portable generator market
experiences continuous growth due to increasing demand for power
backup solutions in both residential and commercial sectors. Key
players in this industry focus on producing fuel-efficient and
lightweight generators to cater to consumers' needs. Portable
generators offer convenience and reliability, making them a popular
choice for various applications. The market is driven by factors
such as power outages, natural disasters, and the need for off-grid
power solutions.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The portable generator market caters to the demand for
uninterrupted power supply during power outages caused by harsh
weather conditions such as heavy rains, heat waves, storms, fog,
and even natural disasters like tsunamis. These generators play a
crucial role in ensuring power delivery to various sectors
including camping, outdoor events, construction sites, metro
cities, commercial spaces, business parks, housing societies, and
apartments.
The grid infrastructure's traditional power supply may fail due
to various reasons, making portable generators an essential backup
power solution. Portable generators come in various sizes and
capacities, making them suitable for recreational vehicles,
tailgating, and other applications requiring uninterrupted
power.
Market Research Overview
The portable generator market encompasses a wide range of power
solutions designed for various applications, from residential use
to industrial projects. These generators offer flexibility and
mobility, making them essential during power outages or remote
construction sites. The market is driven by increasing demand for
reliable backup power sources and the growing need for temporary
power in various sectors.
Technological advancements have led to the development of more
efficient and quieter portable generators, catering to diverse
consumer preferences. Additionally, the market is influenced by
factors such as government regulations, fuel prices, and economic
conditions. Overall, the portable generator market is expected to
grow steadily due to its vital role in ensuring power continuity
and supporting various industries.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- End-user
-
- Residential
- Commercial
- Industrial And Infrastructure
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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