The global Portable generator market is expected to grow at a CAGR of 6.0% during the forecast period, from an estimated USD 2.2 Billion in 2022 to USD 2.9 Billion in 2027. Electricity transmission and distribution is the backbone for the power infrastructure in the country. Transmission systems that are not properly upgraded cannot sustain additional power burden and, in some cases, can also lead to the failure of the system, causing power outage. The rising urban population is creating opportunities for the development of smart cities, which ultimately is driving the demand for portable generators on a larger scale. Another factor driving the market is the demand for reliable power supply.
Key Market Players
The key players in the portable generator market are Honda (Japan), Generac (US), Yamaha (Japan), Cummins (US), Atlas Copco (Sweden).
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By integrating the advantages of gas and diesel generators, dual fuel generators increase the dependability of standby power systems. To overcome diesel engine emission restrictions and rising operating costs, several generator manufacturers are implementing dual fuel technology. Dual fuel generators are thus taking the place of conventional diesel generator sets. Hybrid generators, which are essentially combustion engines coupled with a battery, are offered from manufacturers. When the load is high, these hybrid gensets directly power the engine; when the load is low, the battery powers the engine. They have a number of advantages over conventional gensets, including a reductions in running time, fuel consumption, and noise.
Apart from the rural electrification programs, In the developed/developing regions, the countries are experiencing blackouts and voltage fluctuations due to mismatch in the power demand and supply to these countries. Portable generators are used across various end users such as residential, commercial, and industrial. Gensets are deployed across industrial spaces and construction sites to adequately power on-site equipment and tools.
The increased instances of environment disruptions like hurricanes, floods and thunderstorm create power cut offs for long hours thus the emergency segment of this portable generator market is hiking. The power outage due to some disturbances in the power supply network also created the need for portable generators and thus enhance its emergency segment. The portable generators market is being segmented under two major heads that are emergency and prime/continuous. The global market is being dominated by the emergency segment due to its long backup hours of more than 10 hours which is a good suit for its end users.
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The emergency segment accounted for a 71.7% share of the portable generator market, by application, in 2021. Portable generators are used for shorter duration and its versatile output capacity has increased its use in commercial and industrial market. These generators have an average running time of 10–12 hours with a single filling of the tank. These generators are provided with dual or tri fuel technologies thus enhancing its working capabilities. Emergency portable generators are mainly used when natural calamities such as storms, heavy rains, and heat waves disrupt the transmission & distribution infrastructure. Inadequate power generation infrastructure and poor grid networks in developing countries have forced small-scale manufacturers and businesses to rely on emergency portable generators
The increasing instances of power cut offs in the country is driving the consumers towards the portable generators market as people are more concerned for the efficient and easy available fuel. The gasoline segment is dominating the market for its easy availability and fuel efficiency. Gas stations are available in every part of the world. The efficient supplies of gasoline has enabled the segment to grow at a faster pace. Portable generators running on gasoline are expected to capture the largest market share during the forecast period.
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The lack of access to this vital resource has hampered economic progress and is widely considered a significant contributor to the continued poverty in these areas. Therefore, methods of generating electricity completely independent of grid infrastructure, such as diesel generators, LED lightings, and other microgrid solutions, need to be implemented. Initiatives such as rural electrification programs are the key in developing countries to encourage youth and skilled personnel. Many of these people live in remote or rural areas where it is often too difficult or costly to transmit power using standard extensions of the power grid. This has increased the electrified household population leading to rise in the power demand. Propane gas and biodiesel as a fuel used for generators, is the most environment-friendly fuel and can be easily stored in small or large tanks. These types of generators are mostly used in residential applications. Asia Pacific is expected to grow at the highest CAGR during the forecast period. The growth of the others segment is driven by the rising demand for alternative energy sources to replace conventional fossil fuels.
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