Portable Generator Market: Current Analysis and Forecast (2021-2027)

Report Description

Portable Generator Market was valued at ~US$ 3 billion in 2020 and is expected to grow at a CAGR of ~7% over the forecast period (2021-2027). The portable generator is invented as a backup device to deliver temporary AC power for stand-alone and non-hardwired applications. These generators are made up of a starter, internal combustion engine, fuel tank, alternator, and outlets assembled onto a metal frame in a single unit. Nowadays, consumers mainly prefer portable generators because they can be easily moved from one place to another, also they are cost-effective.

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The demand for Portable generators is mainly increasing on account of the growing construction sector, aging grid infrastructure, rising demand for uninterrupted power supply, promising real estate trends, rapid industrialization, Inaccurate grid structure along rapid population growth. Moreover, the rising incidence of weather-related disasters also propels market growth. For instance, as per the Human Cost of Disasters 2000–2019, Floods and storms were the most frequent events, and the last 20 years saw major floods more than double from 1,389 to 3,254, while storms grew from 1,457 to 2,034.

Global Number of Natural Disasters (2019)

Insights Presented in the Report

“Amongst Fuel, Gasoline segment holds the major share.”

Based on Fuel, the market is fragmented into Gasoline, Diesel, Natural Gas, and Others. The Gasoline segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period as they are more reliable, run quieter, and produce less harmful carbon dioxide fumes. Gasoline portable generators are mainly used on temporary bases for low-load appliances. Also, it is the most common source of fuel and is easiest to obtain. For instance, the 4 kW Single Phase Bajaj Portable Petrol Generator runs on Gasoline is the most fuel-efficient in its range and is having low operating cost.

“Amongst Application, Emergency segment is anticipated to grow at the highest CAGR during the analyzed period.”

Based on Application, the market is fragmented into Emergency, and Prime/Continuous. The Emergency segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period. These Emergency generators are used mainly for shorter durations during outages. With the single filling, these generators run for 10-12 hours. The disruption of the transmission & distribution infrastructure due to the rise in natural disasters propels the high demand for Emergency Power Generators. For instance, as per the Our World in Data, there were 361 global disasters in 2019 as compared to 282 global disasters in 2018.

“Amongst Power Rating, 5–10 kW segment is anticipated to grow at the highest CAGR during the analyzed period.”

Based on Power Rating, the market is fragmented into Below 5 kW, 5–10 kW, and 10–20 kW. The 5–10 kW segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period owing to their high use in power applications such as pumps, air conditioners, drills, high-pressure washers, and industrial motors (up to 3 hp). Moreover, the rising awareness of in-house power backup also propels market growth. For instance, in February 2018, Generac introduced XC series portable generators, with a power rating of 6.5–8 kW for commercial and rental applications.

“Amongst End-user, Residential segment is anticipated to grow at the highest CAGR during the analyzed period.”

Based on End-user, the market is fragmented into Residential, Commercial, and Industrial. The Residential segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period due to the unreliability of power grids. The areas prone to abrupt power outages coupled with natural disasters also propel the segment growth. The range of Portable generators in various appliances to be used in residences such as lights, refrigerators, sump pumps, heaters, TVs, water purifiers, and air conditioners in emergencies include up to 6 kW. There was in total 4,73,127 Thousand Megawatt-hours Sales of Electricity to Ultimate Customers by Residences in the U.S. region in April 2021.

“North America signifies one of the largest markets and Europe is expected to be the fastest-growing markets of Portable Generator market.”

For a better understanding of the market adoption of Portable Generator, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Portable Generator market on account of being the largest consumer of electricity in the region. As per Energy.gov, the U.S. electric grid is an engineering marvel with more than 9,200 electric generating units having more than 1 million megawatts of generating capacity connected to more than 600,000 miles of transmission lines. Some of the major players operating in the market include Atlas Copco, Briggs & Stratton, Generac, Honda, Yamaha, Caterpillar, Cummins, Eaton, Honeywell, and Siemens. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Portable Generator market were the three major steps undertaken to create and analyze the adoption of Portable Generator for the different applications across major End-users such as Residential, Commercial, and Industrial. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Portable Generator sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to.

Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Portable Generator through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Portable Generator market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are Fuel, Application, Power Rating, End-user, and Region. Further country-level analyses were conducted to evaluate the overall adoption of Portable Generator in every region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Portable Generator. Further, we conducted factor analysis using dependent and independent variables such as growing construction sector, aging grid infrastructure, rising demand for uninterrupted power supply, promising real estate trends, rapid industrialization.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Portable Generator Market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (USD) and the adoption rate of Portable Generator across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Portable Generator market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Portable Generator market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of Fuel, Application, Power Rating, End-user, and Region of the Portable Generator market.

Main Objective of the Portable Generator market Study

The current & future market trends of Portable Generator were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Portable Generator in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of Fuel, Application, Power Rating, End-user, and Region
• Define and analysis of the regulatory framework for the Portable Generator industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Portable Generator market for the major regions
• Major regions studied in the report include North America (the United States and Canada), Europe (Germany, France, Italy, Spain, and United Kingdom), Asia-Pacific (China, Japan, India, and Australia), and Rest of the World
• Company profiles of the Portable Generator market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry