Portable Generator Market Trends

Global Portable Generator Market Overview:

The Portable Generator Market is projected to grow from USD 2.44 Billion in 2024 to USD 3.68 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.80% during the forecast period (2024 - 2032). Rising demand for uninterrupted and reliable power supply and growing construction activities globally are driving market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Portable Generator Market Trends

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  Growing Prevalence of Camping and Caravan Tourism to boost the market growth

  
  

Caravan tourism and camping are becoming increasingly popular across the world owing to the flexibility and freedom that the accommodation gives. In recent years, a rising number of consumers have prioritized living better lifestyles, fuelling development in the active and outdoor recreation industries. Activities such as running, hiking, cycling, sailing, fishing, camping, and walking became increasingly popular as both fitness and socially distant activity. This has resulted in increasing demand for products and services in several areas, with a substantial possibility of future demand. A pandemic and the development of remote work drove many people to seek refuge in nature. With 2020's lockdowns, travel restrictions, and indoor eating prohibitions, RV living, and camping have become popular again. More than 70% of North American campers modified their camping habits in 2020, according to the KOA 2021 North American Camping Report, and RV ownership is increasing in both the United States and Canada. In the United States, the proportion of campers who tented for the first time in 2020 was five times higher than in 2019.

Figure 1: Prevalence of Camping Households in the United States

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The increasing practice of off-grid living has created a significant opportunity for the outdoor sector. It has also inspired innovative portable solutions for campers seeking an outdoor experience with the comforts and conveniences of power. A portable generator is an essential tool to live life on the road or off the grid. The r RV also comes equipped with a portable generator. Portable generators being mobile can also be added to a van or bus conversion. The portable generator can be installed in a camping vehicle with a separate fuel supply or simply connect to the vehicle’s combustible engine. Companies such as Cummins Inc. manufacture several exceptionally quiet portable generators, such as the Cummins Onan P4500i Power Inverter. They are intended for camping and living on the road, with a remote starter and a 3.4-gallon tank that can operate for 18 hours at 25% capacity. It is roughly as loud as a tiny electric fan at 52 dB. The convenience of camping and off-grid living has increased due to the mobility nature of portable generators According to Outdoorsy, an RV rental company, first-time renters accounted for 90% of 2020 bookings, while millennial RV bookings climbed by 70% in comparison to 2019. This tendency is projected to continue, propelling the camping and caravanning sector. Hence, the growing trend of camping and caravanning is expected to continue propelling the market growth of portable generator market revenue in the coming years.

Portable Generator Market Segment Insights:

Portable Generator Type Insights

Based on type, the portable generator market segmentation includes conventional and inverter portable generators. The conventional portable generators segment held the majority share in 2021 contributing to around ~58-64% with respect of the portable generator market revenue. This is largely due to the increasing frequency of power outages and adverse weather conditions across the world. According to the Climate Central Organization, between 2000 and 2021, weather-related incidents accounted for around 83% of recorded large outages in the United States.

January 2021: Cummins introduced the QG 2800i and 2500i RV inverter generators, which are 60 percent quieter than previous models. They are powered by gasoline and liquid propane. The Onan QG 2800i and 2500i are 2.8-kW and 2.5-kW inverter-based generator sets particularly developed for Class B and truck hikers, respectively.

Portable Generator Fuel Type Insights

The portable generator market segmentation, based on fuel type, includes gasoline, diesel, natural gas, and other fuel types. The gasoline segment dominated the market in 2021 and while the natural gas segment is projected to be the faster-growing segment during the forecast period, 2022-2030. Due of the widespread availability of fuel stations, gasoline portable generators are significantly less expensive when used to power portable generators for a shorter amount of time, which is predicted to boost demand. However, rising awareness of natural gas as a clean and dependable fuel, growing worries about diesel maintenance and refueling difficulties, falling natural gas fuel prices, and a general desire to be more ecologically responsible have all contributed to increased demand for gas generators. Hence, easy accessibility to gasoline is expected to continue to positively impact portable generator market growth.

January 2022: Honda announced plans to begin selling an all-new EU32i portable generator with a newly built dedicated engine. The EU32i portable generator from Honda has integrated fuel injection and a high-efficiency 4-stroke engine. The engines are built to run on standard unleaded fuel with no more than 10% ethanol.

Portable Generator Application Insights

The portable generator market data has been bifurcated into temporary power and primary power, based on application. The temporary power segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Portable generators are an excellent choice for temporary, backup, and emergency power in several scenarios and events. They are frequently used for backup or power supply during remote events or projects.

Portable Generator Power Ratings Insights

The portable generator market segmentation, based on power ratings, includes below 5 kW, 5-10 kW, and above 10 kW. The below 5kW segment dominated the market in 2021 and while the 5-10kW segment is projected to be the faster-growing segment during the forecast period, 2022-2030. This is because 5-10 kW generators are used in air compressors, drills, high-pressure washers, and industrial motors, and these portable generators can manage significant loads. They are most utilized in domestic and camping situations. The surge in camping activities that necessitate the use of backup portable generators is driving up demand for this category. Hence, rising demand for 5-10kW portable generators is expected to positively impact the market growth.

Portable Generator End User Insights

Based on End Users, the portable generator industry has been segmented into residential, commercial, and industrial. The residential segment held the largest segment share in 2021.  Portable generators are mostly used to power small and medium-sized loads, such as domestic appliances and industrial machinery. They are better suited for residential use and smaller commercial establishments such as retail outlets and shops, as well as on construction sites for powering smaller tools, camping, outdoor weddings, outdoor events, and powering agricultural equipment such as bore wells or drip irrigation systems.

Figure 2: Portable Generator Market, by End-User, 2024 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Additionally, the increasing adoption of electric vehicles and growing practices of off-the-grid and remote living are expected to boost the demand for the portable generator market in the residential sector. With rising urbanization and migration to main cities, the demand for power supply is increasing leading to increasing use of portable generators in various sectors, significantly in residential areas.  Hence the growing demand for portable generators in expected to drive market growth during the forecast period.

Portable Generator Regional Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia-Pacific Portable Generator Market accounted for USD 1.10 billion in 2021 and is expected to exhibit a 6.08% CAGR during the study period. This is due to rising power consumption, a lack of dependable grid infrastructure, the necessity for emergency backup power solutions, and the requirement for a consistent power supply, which are driving the portable generator market in this area. According to the BP Statistical Review of World Energy 2022, primary energy consumption in the Asia-Pacific area accounted for around 272.45 exajoules (EJ), a roughly 6.4% rise over the previous year's estimate.

Owing to expanding infrastructure projects, a widening power demand-supply imbalance, the growth of manufacturing facilities across the country, and an increase in commercial office spaces, China portable generator market is likely to lead the Asia-Pacific portable generator market growth. The China Electricity Council (CEC) estimated that Chinese households would demand around 1,170 terawatt hours (TWh) of electricity in 2021. The secondary sector, which comprises manufacturing firms, had the highest power use at 5,610 terawatt hours. While because of increased access to energy sources, the India portable generator market is expected to experience the fastest relative growth in per-person residential energy use over the forecast period, so the increasing number of power outages in the residential sector is expected to boost demand for portable generators. Hence Asia-Pacific region is expected to lead market growth during the forecast period.

Further, the major countries studied are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: Portable Generator Market Share By Region 2024-2032 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

North America Portable Generator Market accounts for the second-largest market share due to the availability of cutting-edge treatment facilities, and the region being the leading consumer of electricity. With rising power shortage and high peak time electricity costs the region is expected to increasingly adopt portable generators in the market. Further, the US portable generator market held the largest market share and is expected to dominate the North America portable generator market as customers in the country are increasingly relying on off-grid power devices, such as portable generators, to provide electricity when demand is high and power rates are high.

The Europe Portable Generator Market is expected to grow at a CAGR of 19.97% from 2022 to 2030. The region is witnessing exponential urbanization because of higher rates of people moving from rural to cities. Moreover, Germany portable generator market held the largest market share and is expected to dominate the Europe region as a result of increased infrastructure projects, worsening power demand-supply mismatches, and the growth of manufacturing plants around the country.

Portable Generator Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the portable generator market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the portable industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the portable generator industry to benefit clients and expand the portable generator market sector is to manufacture locally to reduce operating costs. In recent years, portable generators have provided increasing convenience in power supply with some of the most significant benefits.

Generac Power Systems is a prominent provider of innovative power grid software solutions, backup and prime power systems for residential and industrial applications, solar + battery storage solutions, virtual power plant platforms, and engine- and battery-powered tools and equipment. Deep Sea Electronics Limited, an innovative controls designer and manufacturer, was bought by Generac Holdings Inc. in June 2021. Deep Sea Electronics offers a wide range of controller devices that provide adaptable solutions for a variety of applications such as generators, automated transfer switches, battery charging, and off-highway vehicles. Powermate 4500-Watt Dual Fuel Portable Generator and Powermate 7500-Watt Dual Fuel Portable Generator are now available from Generac Power Systems Inc.

Honda Motor Corporation is also a world-renowned manufacturer of high-quality automobiles and portable generators. Honda has an exceptional reputation and is among the most renowned brands in the world as a result of its well-tested, high-quality goods. Honda generators have maintained a leadership position for decades thanks to the company's emphasis on innovation, quality, and R&D. Honda generators have become renowned for their versatility in settings such as the camping, the workplace, the racetrack infield, and the stadium parking lot. Because of Honda's well-known dependability, the company's generators are recognized as the best power backup equipment for both companies and families. The units are especially well-known for their exceptional fuel economy and smooth, silent operation. Honda announced the Honda My Generator Bluetooth App in September 2019, allowing users to start, stop, and adjust vital operations of Honda portable generators via Bluetooth interaction on a mobile phone.

Key Companies in the portable generator market include:

• Honda Motor Corporation (Japan)


• Westinghouse Electric Corporation (US)


• Duromax (US)


• Cummins, Inc (US


• Champion Power Equipment (US)


• WEN Corporation (US)


• Yamaha Motor Corporation (Japan)


• Generac Power Systems Inc (US)


• Harbor Freight Tools (US)


• Wacker Neuson SE (Germany)


• Pulsar Products Inc. (US)


• Energizer Holding Inc. (US)


• Caterpillar Inc. (US)


• Atlas Copco (India) Ltd. (Sweden)

Portable Generator Industry Developments

September 2021: Generac Holdings Inc., acquired Off Grid Energy Ltd (“Off Grid Energy”). Off Grid Energy, a pioneer in the energy storage business provides a wide range of energy storage solutions that deliver cleaner and more flexible energy for industrial and mobile applications. Our distribution network offers a combination of energy storage devices and modern technologies in our generators.

July 2021: Yamaha Motor Corporation, USA, unveiled the new EF2200iS inverter generator, which has a new Carbon Monoxide Sensor (CO Sensor) incorporated into a detection and shutdown system. Designed for emergency backup portable power, RV and camping electricity, and as a power source for many DIY home tasks.

April 2022: Honda Motor Company's power products business, Honda India Power Products Ltd, which controls more than 90% of the country's portable generator industry, is now increasing its influence in India by entering the marine outboard motors category.

Cummins India Limited, one of the world's top power solution suppliers, presented its sophisticated line of Aftermarket Solutions for backup power gensets, construction, and mining markets during the 7^th edition of baumaCONEXPO India 2024 in December.  

The solutions include DATUM S, an expansion of Cummins India's revolutionary fuel management solutions, OptiNAS+ Hydraulic Oil Filter, and DG Blue Diesel Exhaust Fluid for CPCBIV+ gensets. These solutions have been designed to help customers withstand the harsh and demanding circumstances of construction and mining activities while adhering to tight emission requirements.

In September 2024, Generac Holdings announced the launch of its new PWRcell 2 Home Energy Storage System product series, featuring PWRcell 2 and PWRcell 2 MAX. These products give homeowners more power, reliability and smarter integration across their energy ecosystem. The PWRcell 2 delivers 18 kWh capacity in a single cabinet and 10 kW max continuous power, enough power to start virtually any single load in the home during an outage, including a 5-ton A/C unit.

The PWRcell 2 MAX features even more power at launch, with 11.5 kW max continuous power. It will also have the capability to start loads greater than 200A LRA, higher efficiency and a broader operating temperature range.

Cummins Inc. added two new generator sets to its award-winning Centum^TM Series in February 2024: C1750D6E and C2000D6E. These two generator sets are designed to provide a comprehensive range of power to meet global demand for more efficient and sustainable energy. The generator sets are powered by a brand-new QSK50 engine.

This engine provides higher power efficiency in a smaller footprint and features a more compact design for easier installation, service, and maintenance. With a power range of 1750-2000kW, the new Centum Series units achieve market-leading power density with a displacement of under 50 liters. These new models provide dependable power with lower emissions, all without losing performance.

Portable Generator Market Segmentation

Portable Generator Type Outlook

• Conventional Portable Generator


• Inverter Portable Generator

Portable Generator Fuel Type Outlook

• Gasoline


• Diesel


• Natural Gas


• Other Fuel Types

Portable Generator Application Outlook

• Temporary Power


• Primary Power

Portable Generator Power Rating Outlook

• Below 5 kW


• 5kW- 10kW


• Above 10 kW

Portable Generator End User Outlook

• Residential


• Commercial


• Industrial
  
  
  
  • Construction
  
  
  • Mining
  
  
  • Industrial
  
  
  • Manufacturing
  
  
  • Others
  
  
  
  

Portable Generator Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Middle East & Africa
  
  
  
  • Turkey
  
  
  • Israel
  
  
  • North Africa
  
  
  • GCC
  
  
  • Rest of the Middle East & Africa
  
  
  
  


• South America
  
  
  
  • Brazil
  
  
  • Argentina
  
  
  • Mexico
  
  
  • Rest of South America