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Portable Generator Market Size (2024 - 2029)

The Portable Generator Market is projected to experience growth over the forecast period, driven by the rising demand for power and the need for reliable backup solutions. Despite facing competition from battery storage systems and cleaner power sources, the market is expected to benefit from opportunities in the commercial and industrial sectors of emerging economies, as well as in the residential sector of developed economies. The defense sector's increasing power requirements also contribute to market expansion. North America is anticipated to hold a significant portion of the market, with substantial demand originating from the United States and India.

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Market Size of Portable Generator Industry

Portable Generator Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 7.98 Billion
Market Size (2029) USD 9.92 Billion
CAGR (2024 - 2029) 4.45 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Portable Generator Market Major Players

*Disclaimer: Major Players sorted in no particular order

Portable Generator Market Analysis

The Portable Generator Market size is estimated at USD 7.98 billion in 2024, and is expected to reach USD 9.92 billion by 2029, at a CAGR of 4.45% during the forecast period (2024-2029).

  • Over the medium term, factors such as the ever-increasing demand for power, lack of reliable grid infrastructure, the need for emergency backup power solutions, and the demand for steady power supply are driving the portable generators market.
  • On the other hand, portable generators face tough competition from battery storage systems. Other cleaner standby power sources are also expected to hinder the portable generators market.
  • Nevertheless, the commercial and industrial sectors of emerging economies, the residential sector of developed economies, and the increasing need for power in defense operations are expected to create significant opportunities for market participants in the near future.
  • North America is expected to hold a significant market share, with most of the demand coming from countries such as the United States and Canada.

Portable Generator Industry Segmentation

A portable generator is a small, self-contained unit designed to provide electrical power in locations without access to a traditional power grid. It is commonly used during power outages or in areas where electricity is not readily available, such as on a construction site or in a rural area.

The portable generators market is segmented by power rating, fuel type, end user, and geography. By power rating, the market is segmented into below 5 kW, 5-10 kW, and above 10 kW. By fuel type, the market is segmented into gas, diesel, and other fuel types. By end user, the market is segmented into industrial, commercial, and residential. The report also covers the market sizes and forecasts for the portable generator market across major regions. Market sizing and forecasts are provided for each segment based on value (USD).

Power Rating
Below 5 kW
5-10 kW
Above 10 kW
Fuel Type
Gas
Diesel
Other Fuel Types
End User
Industrial
Commercial
Residential
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
France
United Kingdom
Spain
NORDIC
Turkey
Russia
Rest of Europe
Asia-Pacific
India
China
Japan
Australia
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
South America
Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa
United Arab Emirates
Saudi Arabia
Nigeria
Rest of Middle East and Africa
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Portable Generator Market Size Summary

The portable generator market is poised for significant growth over the forecast period, driven by increasing demand for reliable power sources due to inadequate grid infrastructure and the need for emergency backup solutions. The industrial sector, particularly in emerging economies like China and India, is expected to be a major contributor to this growth, with industries such as manufacturing, healthcare, and construction relying heavily on portable generators to ensure uninterrupted operations. The steel industry in China, being highly energy-intensive, further underscores the demand for onsite power generation. Meanwhile, the Middle East and Africa present substantial opportunities due to their power supply challenges, with countries like South Africa investing in industrial development and renewable energy transitions, which could also bolster the portable generator market.

In North America, particularly the United States, the portable generator market is supported by the need for backup power in both residential and commercial sectors, despite the presence of a robust electricity grid. The increasing reliance on data centers, which require redundancy to prevent downtime, further fuels this demand. The market is moderately fragmented, with key players like Generac Holdings Inc., Caterpillar Inc., and Honda Siel Power Products Limited actively introducing new products to meet evolving customer needs. As awareness of the benefits of portable generators grows, particularly in regions with frequent power outages, the market is expected to expand, offering significant opportunities for manufacturers and suppliers.

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Portable Generator Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD, till 2029

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

        1. 1.5.1.1 Increasing Demand for Power

      2. 1.5.2 Restraints

        1. 1.5.2.1 Increasing Demand for Battery Storage Systems and Other Cleaner Sources of Standby Power

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

    8. 1.8 Investment Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Power Rating

      1. 2.1.1 Below 5 kW

      2. 2.1.2 5-10 kW

      3. 2.1.3 Above 10 kW

    2. 2.2 Fuel Type

      1. 2.2.1 Gas

      2. 2.2.2 Diesel

      3. 2.2.3 Other Fuel Types

    3. 2.3 End User

      1. 2.3.1 Industrial

      2. 2.3.2 Commercial

      3. 2.3.3 Residential

    4. 2.4 Geography

      1. 2.4.1 North America

        1. 2.4.1.1 United States

        2. 2.4.1.2 Canada

        3. 2.4.1.3 Rest of North America

      2. 2.4.2 Europe

        1. 2.4.2.1 Germany

        2. 2.4.2.2 France

        3. 2.4.2.3 United Kingdom

        4. 2.4.2.4 Spain

        5. 2.4.2.5 NORDIC

        6. 2.4.2.6 Turkey

        7. 2.4.2.7 Russia

        8. 2.4.2.8 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 India

        2. 2.4.3.2 China

        3. 2.4.3.3 Japan

        4. 2.4.3.4 Australia

        5. 2.4.3.5 Malaysia

        6. 2.4.3.6 Thailand

        7. 2.4.3.7 Indonesia

        8. 2.4.3.8 Vietnam

        9. 2.4.3.9 Rest of Asia-Pacific

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Colombia

        4. 2.4.4.4 Rest of South America

      5. 2.4.5 Middle East and Africa

        1. 2.4.5.1 United Arab Emirates

        2. 2.4.5.2 Saudi Arabia

        3. 2.4.5.3 Nigeria

        4. 2.4.5.4 Rest of Middle East and Africa

Portable Generator Market Size FAQs

The Portable Generator Market size is expected to reach USD 7.98 billion in 2024 and grow at a CAGR of 4.45% to reach USD 9.92 billion by 2029.

In 2024, the Portable Generator Market size is expected to reach USD 7.98 billion.

Portable Generator Market Report Snapshots

Portable Generator Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)