Published Date: 30-Jun-2023
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According to a new report, published by KBV research, The Global Portable Generator Market size is expected to reach $3.4 billion by 2030, rising at a market growth of 6.1% CAGR during the forecast period.
The Prime/Continuous segment has shown a growth rate of 7.2% during (2023 - 2030). The demand in this segment is rising due to the growth of the construction industry, that extensively depends on portable generators to power tools and equipment on job sites. Another factor boosting the use of prime/continuous portable generators is the growth of the oil & gas industry, which necessitates dependable power for drilling and extraction operations in off-the-grid regions.
The Residential segment acquired the maximum revenue share in the Global Portable Generator Market by End User in 2022, achieving a market value of $1.6 billion by 2030. The need for portable generators in this segment has expanded due to the variety of household appliances, equipment, and gadgets that run on electricity in today's technology-driven world. A good generator should have characteristics like cooling, an automatic shutdown, automatic voltage regulation, an automatic transfer switch, and a wheel kit.
The More than 10 KW segment has shown a Growth rate of 6.8% during (2023 - 2030). Many household distribution channels, lights, and up to a 5-ton central air conditioner can all be powered by a 20kW generator. The majority of 20kW generators have an automatic transfer switch (ATS) since they are connected to a 200-Amp load center. For instance, the refrigerator/freezer, kitchen receptacles, a few light & receptacle circuits, the fan blower motor for gas heating equipment, the security system, garage door opener, and water pumps & sump pumps are some of the more popular vital circuits included in 20 KW.
The Conventional Generator segment is leading the Global Portable Generator Market by Product Type in 2022, achieving a market value of $2.3 billion by 2030. Conventional generators continue to operate to generate electricity. These engine generators are made to run at 3600 revolutions per minute, which generates 120 volts at 60 hertz. Using machine tools in workshops or turning on a light bulb increases the need for electricity. They use diesel and gasoline to power a motor connected to an alternator, which generates electricity.
The Natural Gas segment is showcasing of 6.9% during (2023 - 2030). Natural gas is claimed to be an eco-friendly fuel, making portable generators more accessible, less expensive, and less harmful to the environment. Portable generators powered by natural gas also lessen noise pollution. Natural gas may be conveniently stored in tanks for longer periods and used as needed.
The Asia Pacific market dominated the Global Portable Generator Market by Region in 2022, achieving a market value of $1.3 billion by 2030. The Europe market is showcasing a CAGR of 5.9% during (2023 - 2030). Additionally, The North America market would witness a CAGR of 5.6% during (2023 - 2030).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Siemens AG, Generac Holdings, Inc., Atlas Copco AB, Honeywell International, Inc., Caterpillar, Inc., Wacker Neuson SE, Honda Motor Co. Ltd., Yamaha Motor Co., Ltd., Kohler Co., and Briggs & Stratton, LLC (KPS Capital Partners)
By End User
By Power Rating
By Product Type
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