Portable Generator Market To Reach USD 4.7 Billion By 2032 Report By DataHorizzon Research
The portable generator market is experiencing a surge in demand due to the growing need for modern electronics.
Fort Collins, Colorado, Nov. 16, 2023 (GLOBE NEWSWIRE) — According to DataHorizzon Research, The Portable Generator Market size was valued at USD 2.6 Billion in 2022 and is expected to reach a market size of USD 4.7 Billion by 2032 with a CAGR of 6.4%.
The portable generators market is growing due to the increasing frequency and intensity of power outages caused by natural disasters, aging infrastructure, and greater reliance on electricity. According to the U.S. Department of Energy, American businesses lose around $150bn per year only due to power outages. Portable generators offer a reliable and convenient alternative for essential appliances, communication devices, and medical equipment.
Portable generators are in high demand due to the rising popularity of outdoor activities, remote work setups, and off-grid living. The power electronic devices, lighting, and other amenities for outdoor enthusiasts, campers, RV owners, construction sites, and events where access to electricity may be limited.
Manufacturers have improved generator efficiency, reduced noise levels, enhanced fuel economy, and added smart features. These advancements have resulted in the development of quieter, more compact, and user-friendly portable generators and driving market growth.
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The global portable generator market has been segmented into product type, fuel, power rating, end-use, and region. Conventional portable generators are the most common type, running on gasoline or diesel fuel to generate electricity. They are versatile, affordable, and portable, making them popular for backup power and outdoor use. Diesel-powered generators are known for their durability, fuel efficiency, and longer runtime, making them popular in industrial and commercial applications.
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Portable Generator Market Report Highlights:
- The global portable generator market growth is anticipated at a CAGR of 6.4% by 2032.
- Portable generators are becoming increasingly popular due to their versatility and ability to provide electricity on the move. They have become a preferred choice for residential and commercial users, ensuring uninterrupted power supply during emergencies, outdoor activities, and remote locations.
- North America dominates the market due to frequent power outages, extreme weather conditions, and a high reliance on electricity, with the US and Canada being major contributors to market growth.
- Some prominent players in the portable generator market report include Cummins, Inc., Generac Power Systems Inc., Kohler Co., Multiquip, Inc., WINCO Wacker Neuson SE, Harrington Generators International Ltd, Briggs & Stratton Corporation, Caterpillar Inc., Honda Siel Power Products Ltd., among others.
Industry Trends and Insights:
– Kohler was named in Fast Company’s ‘Brands that Matter’ list for improving the sustainability and safety of home products.
– Caterpillar has been recognized by USA Today as one of America’s Climate leaders for 2023 for cutting their carbon footprint.
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Portable Generator Market Segmentation:
By Product Type: Inverter Generator, Conventional Generator
By Application: Emergency, Prime/Continuous
By Fuel: Gasoline (Petrol), Diesel, Natural Gas, and Others (LPG, Propane, and Biodiesel)
By Power Rating: Below 5 kW, 5–10 kW, 10–20 kW
By End-use: Residential, Commercial, Industrial
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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