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 5.53 Billion
Market Size (2029) USD 7.35 Billion
CAGR (2024 - 2029) 5.86 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific

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 5.53 billion in 2024, and is expected to reach USD 7.35 billion by 2029, growing at a CAGR of 5.86% 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 generator market.

On the other hand, Portable generators face tough competition from battery storage systems. Also, other cleaner sources of standby power are 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 have a significant market share, with the majority of the demand coming from countries such as the United States and India.

Portable Generator Industry Segmentation

A portable generator is a small, self-contained unit that is designed to provide electrical power in locations where there is no access to a traditional power grid. They are 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 generator 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 size and forecasts for the portable generator market across major regions, such as Asia-Pacific, North America, Europe, South America, the Middle East, and Africa.

For each segment, the market sizing and forecasts have been done based on revenue (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
Mexico
Rest of North America
Europe
Norway
Sweden
United Kindom
Germany
Rest of Europe
Asia-Pacific
China
India
South Korea
Japan
Rest of Asia-Pacific
South America
Chile
Brazil
Colombia
Argentina
Rest of South America
Middle-East and Africa
Egypt
Saudi Arabia
United Arab Emirates
South Africa
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 Substitutes Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  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 Mexico

        4. 2.4.1.4 Rest of North America

      2. 2.4.2 Europe

        1. 2.4.2.1 Norway

        2. 2.4.2.2 Sweden

        3. 2.4.2.3 United Kindom

        4. 2.4.2.4 Germany

        5. 2.4.2.5 Rest of Europe

      3. 2.4.3 Asia-Pacific

        1. 2.4.3.1 China

        2. 2.4.3.2 India

        3. 2.4.3.3 South Korea

        4. 2.4.3.4 Japan

        5. 2.4.3.5 Rest of Asia-Pacific

      4. 2.4.4 South America

        1. 2.4.4.1 Chile

        2. 2.4.4.2 Brazil

        3. 2.4.4.3 Colombia

        4. 2.4.4.4 Argentina

        5. 2.4.4.5 Rest of South America

      5. 2.4.5 Middle-East and Africa

        1. 2.4.5.1 Egypt

        2. 2.4.5.2 Saudi Arabia

        3. 2.4.5.3 United Arab Emirates

        4. 2.4.5.4 South Africa

        5. 2.4.5.5 Rest of Middle East and Africa

Portable Generator Market Size FAQs

The Portable Generator Market size is expected to reach USD 5.53 billion in 2024 and grow at a CAGR of 5.86% to reach USD 7.35 billion by 2029.

In 2024, the Portable Generator Market size is expected to reach USD 5.53 billion.

Portable Generator Market Report Snapshots

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