Product Code: 61058
The global portable generator market is expected to grow at a CAGR of more than 3% over the period of 2020-2025. Factors such as the ever-increasing demand for power, lack of reliable grid infrastructure, the need for emergency backup power solutions, and the demand for steady power supply are driving the portable generator market.Moreover, the power outages have led to the adoption of standby power sources, portable generators, which can meet the requirement of reliable and regular electricity supply and can also be transported easily. However, increasing demand for battery storage systems and other cleaner sources of standby power is expected to restrain the growth of portable generators market
- The residential end-user segment is expected to be the largest market for portable generators during the forecast period. It accounts for 20% of the power demand globally due to population growth, urbanization, and several other factors.
- The commercial and industrial sectors of emerging economies, the residential sector of developed economies, and the increasing need for power in defense operations are expected to create significant opportunities for market participants in the near future.
- Asia-Pacific accounted for the largest share in the market in 2018, with majority of the demand coming from countries such as China and India.
Key Market Trends
Residential Sector to Dominate the Market
- The residential segment of portable generators is predicted to expand and drive the market, majorly driven by the prevalent installation of gensets across households to cater to the emergency power supply in an event of a blackout or grid failure.
- According to Energy Information Administration (EIA), about 70% of the increase in residential energy consumption occurs in Asia-Pacific, led by China and India, as standards of living increase and as demand for lighting and energy-using appliances and equipment increases.
- India is expected to experience the fastest relative growth in per person residential energy use because of increased access to energy sources, so increasing number of power outages in the residential sector are expected to increase the demand for portable generators over the forecast period.
- Therefore, rising concerns about power instability in the residential sector, such as natural calamity, for uninterrupted operations is driving the portable generator market.
Asia-Pacific to Dominate the Market
- The portable generator market in the Asia-Pacific region was valued the highest in 2019 and is expected to dominate the market over the forecast period.
- China is expected to lead the market in the Asia-Pacific region owing to increasing infrastructure projects, widening power demand-supply gap, expansion of manufacturing facilities across the nation, and rising commercial office spaces. The country benefits from the cost and effectiveness of portable generators, with improved living standards increasing the demand for power back-up devices.
- In India, the government had made provision of INR 3 trillion for the Micro Units Development and Refinance Agency (MUDRA) scheme for 2018-2019, and an additional INR 3,794 crore for Micro, Small and Medium Enterprises (MSMEs) for credit, capital support, interest subsidy and promotion of innovations. The implementation of such initiatives is expected to drive the growth of small to mid-size industries which is expected to be a big boost for portable generators market.
- The development of infrastructure and industrial growth coupled with rising disposable income in the region has led to surge in demand of electricity. The growth in population has led to increased urbanization in the region, which has led to surge in demand for electricity, which, in turn, has led to growth in requirement of standby power source.
The portable generator market is fragmented. Some of the key players in this market include Generac Holdings Inc., Caterpillar Inc., Siemens AG, Honda Siel Power Products Limited and Briggs & Stratton Corporation.
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Table of Contents
- 1.1 Scope of the Study
- 1.2 Market Definition
- 1.3 Study Assumptions
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OVERVIEW
- 4.1 Introduction
- 4.2 Market Size and Demand Forecast in USD billion, till 2025
- 4.3 Recent Trends and Developments
- 4.4 Government Policies and Regulations
- 4.5 Market Dynamics
- 4.5.1 Drivers
- 4.5.2 Restraints
- 4.6 Supply Chain Analysis
- 4.7 Porter's Five Forces Analysis
- 4.7.1 Bargaining Power of Suppliers
- 4.7.2 Bargaining Power of Consumers
- 4.7.3 Threat of New Entrants
- 4.7.4 Threat of Substitutes Products and Services
- 4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 Power Rating
- 5.1.1 Below 5 kW
- 5.1.2 5-10 kW
- 5.1.3 Above 10 kW
- 5.2 Fuel Type
- 5.2.1 Gas
- 5.2.2 Diesel
- 5.2.3 Others
- 5.3 End-User
- 5.3.1 Industrial
- 5.3.2 Commercial
- 5.3.3 Residential
- 5.4 Geography
- 5.4.1 North America
- 5.4.2 Europe
- 5.4.3 Asia-Pacific
- 5.4.4 South America
- 5.4.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Strategies Adopted by Leading Players
- 6.3 Company Profiles
- 6.3.1 Generac Holdings Inc.
- 6.3.2 Caterpillar Inc.
- 6.3.3 Siemens AG
- 6.3.4 Honda Siel Power Products Ltd.
- 6.3.5 Briggs & Stratton Corporation
- 6.3.6 Kohler Co.
- 6.3.7 Wacker Neuson SE
- 6.3.8 Atlas Copco AB
- 6.3.9 Eaton Corporation plc
- 6.3.10 Yamaha Motor Co., Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS