Portable Generator Market Set for Rapid Growth

The portable generator market is expected to grow from an estimated USD 1.8 billion in 2021 to USD 2.5 billion by 2026, at a CAGR of 6.7% during the forecast period. Frequent power outages due to weather and aging grids are the main drivers for the portable generator market. Increasing adoption of dual fuel and inverter portable generators are expected to offer lucrative opportunities for the portable generator market during the forecast period.

A few major players that have a wide regional presence and dominate the portable generator market. The leading players in the portable generator market include Honda (Japan), Generac (US), Caterpillar (US), Atlas Copco (Sweden), and Yamaha (Japan).

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Market Size Estimation

Both top-down and bottom-up approaches have been used to estimate and validate the size of the global portable generator market and its dependent submarkets. These methods were also used extensively to estimate the size of various sub-segments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and market have been identified through extensive secondary research, and their market share in the respective regions have been determined through both primary and secondary research.
  • The industry’s value chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Global Portable Generator Market Size: Bottom-Up Approach
Global Portable Generator Market Size: Bottom-Up Approach

Report Objectives

  • To define and describe the portable generator market, based on application, fuel, power rating, end user, and region
  • To provide detailed information on the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze the market with respect to individual growth trends, prospects, and contributions of each segment to the market
  • To analyze market opportunities for stakeholders and provide a detailed competitive landscape for market leaders
  • To forecast the revenue of the market segments with respect to 5 main regions (along with countries)—North America, South America, Europe, Asia Pacific, and the Middle East & Africa
  • To strategically profile key players and comprehensively analyze their market ranking and core competencies
  • To track and analyze competitive developments in the portable generator market, such as new product launches, contracts & agreements, investments & expansions, and mergers & acquisitions.

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North America is expected to account for the largest market size during the forecast period.

North America includes countries such as the US, Canada, and Mexico. North America is the second-largest consumer and producer of electricity, after Asia Pacific. The US and Canada, which are among the largest consumers in this region as well as globally, constitute the largest share of the portable generator market. Power outages, penetration of the natural gas network, and high peak time electricity costs are expected to drive the market in this region.

Furthermore, according to the US Department of Energy, 72.0% of the power infrastructure in the US are more than 25 years old and are rapidly approaching the end of their useful life. The country is expected to invest USD 1 trillion in infrastructure development projects by 2025 across all sectors. The positive factors, such as low-interest rates, will also enhance investments in the construction industry of the region. All of these factors are expected to drive the growth of the portable generator market in North America.