The global portable generator market size is expected to reach at USD 6.79 billion by 2030, registering a CAGR of 5.3% in the forecast period, according to a new report by Grand View Research, Inc. Factors such as the rising demand for electricity, the unreliable grid infrastructure, the desire for solutions for emergency backup power, and the requirement for a consistent supply of electricity are driving the market for portable generators. Moreover, power failures have prompted the introduction of standby power systems and portable generators, which may easily be carried out while meeting the need for a dependable and regular electricity supply.
With the increasing frequency of power outages and natural disasters, such as hurricanes, tornadoes, and wildfires, homeowners and businesses across the globe are becoming more reliant on portable generators to provide uninterrupted power supply during emergencies. When the power goes out, portable generators can provide a reliable source of electricity to keep essential appliances and equipment running, such as lights, refrigerators, medical equipment, and communication devices. This is particularly important for businesses that rely on electricity to operate, such as hospitals, data centers, and manufacturing plants.
Technological advancements are driving the market, with the development of smart and connected generators that can be controlled remotely using mobile apps. These generators are equipped with sensors and communication technology that enables users to monitor and adjust various parameters from their smartphones, making them more convenient and user-friendly. Moreover, portable generators are also use for providing power in remote locations, and they are designed to be lightweight, compact, and easy to transport.
The COVID-19 pandemic has had a significant impact on the market. One of the most notable effects has been the surge in demand for generators as people spend more time at home and invest in emergency preparedness. With many people working and learning from home, as well as spending more time cooking and entertaining, the need for backup power has become more important than ever.
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.
Access Research Report of Portable Generator Market @
https://www.grandviewresearch.com/industry-analysis/portable-generators-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.
Portable Generator Market Report Highlights
- The gasoline generator segment dominated the market in 2022. The ability of gasoline generators that can be used for a variety of purposes, including powering outdoor events and supplying backup power to homes and businesses during power outages is a major factor driving the segment growth
- The medium power generators segment is expected to expand at the highest CAGR over the forecast period. The necessity for reliable backup power and remote power generation in businesses and organizations are the key factors driving demand for these generators
- The emergency segment dominated the market in 2022. The requirement for reliable backup power in the case of power outages or crises drives the need for emergency portable generators
- The industrial end use segment is expected to expand at a moderate CAGR over the forecast period. The segment’s growth can be linked to the necessity for dependable backup power in industries that rely on continuous operations, such as manufacturing and data centers
- The Asia Pacific region dominated the regional market in 2022. The region’s expanding construction sector is also increasing demand for portable generators for use on job sites to power tools and equipment
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.
List of Key Players in the Portable Generator Market
- 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
