As per MRFR analysis, the Single Phase Portable Conventional Genset Market Size was estimated at 2.05 (USD Billion) in 2022. The Single Phase Portable Conventional Genset Market Industry is expected to grow from 2.11 (USD Billion) in 2023 to 2.75 (USD Billion) by 2032. The Single Phase Portable Conventional Genset Market CAGR (growth rate) is expected to be around 2.97% during the forecast period (2024 - 2032).
Key Single Phase Portable Conventional Genset Market Trends Highlighted
The single-phase portable conventional genset market is witnessing a surge in demand due to the increasing need for backup power sources in residential and commercial settings. The rising frequency of power outages and the growing adoption of electronic devices are driving the market growth. Additionally, the increasing popularity of outdoor activities, such as camping and RVing, is further fueling demand for portable generators.Key market drivers include the increasing demand for reliable backup power, the rising adoption of electronic devices, and the growing popularity of outdoor activities. Opportunities exist in exploring new technologies, such as solar-powered generators, and expanding into emerging markets. Recent trends indicate a shift towards quieter and more fuel-efficient generators, as well as an increase in the use of inverter generators for sensitive electronic equipment.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Single Phase Portable Conventional Genset Market Drivers
Increasing Demand for Backup Power Solutions
The rising frequency and severity of power outages in both developed and developing regions have fueled the demand for backup power solutions. Single-phase portable conventional gensets provide a reliable and convenient source of backup power for homes, businesses, and critical infrastructure. They are particularly valuable in areas where the grid is unstable or prone to outages due to natural disasters, aging infrastructure, or other factors. The increasing demand for reliable backup power solutions is expected to drive the growth of the global single-phase portable conventional genset market in the coming years.
Growing Adoption in Construction and Infrastructure
The construction and infrastructure sectors are major consumers of single-phase portable conventional gensets. These gensets provide temporary power for construction sites, enabling contractors to operate tools, lighting, and other equipment without relying on the grid. The growing investment in infrastructure projects around the world is creating a significant demand for single-phase portable conventional gensets in the Single Phase Portable Conventional Genset Market Industry.
Expansion of Rental and Leasing Services
The rental and leasing of single-phase portable conventional gensets has become increasingly popular, especially for short-term or intermittent power needs. This trend is driven by the flexibility and cost-effectiveness of renting or leasing gensets compared to purchasing them outright. Rental and leasing services allow businesses and individuals to access backup power solutions without the upfront capital investment, making them a viable option for a wide range of applications in the Single Phase Portable Conventional Genset Market Industry.
Single Phase Portable Conventional Genset Market Segment Insights:
Single Phase Portable Conventional Genset Market Fuel Source Insights
Gasoline and Diesel dominate the Single Phase Portable Conventional Genset Market due to their widespread availability, cost-effectiveness, and established infrastructure. Gasoline gensets are commonly used for residential and light commercial applications due to their affordability and ease of maintenance. Diesel gensets, on the other hand, are preferred for industrial and heavy-duty applications requiring higher power output and longer runtimes. The growing demand for reliable backup power solutions in remote areas and during power outages drives the demand for both gasoline and diesel gensets.In 2023, the gasoline segment accounted for approximately 55% of the Single Phase Portable Conventional Genset Market revenue, while diesel held a share of around 45%. The gasoline segment is projected to maintain its dominance over the forecast period (2024-2032), owing to its cost-effectiveness and widespread availability. However, the diesel segment is anticipated to witness a higher market growth rate due to the increasing demand for industrial and heavy-duty applications. The Single Phase Portable Conventional Genset Market is expected to witness significant growth in the coming years, driven by factors such as rising demand for backup power, increasing infrastructure development in remote areas, and growing adoption of portable gensets in various industries.The market growth is also supported by technological advancements and innovations in genset design, leading to improved efficiency and performance.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Single Phase Portable Conventional Genset Market Power Output Insights
The power output segment is a crucial aspect of the Single Phase Portable Conventional Genset Market, influencing market growth and segmentation. The segment is categorized into four sub-segments: 'Less than 1 kW', '1 kW to 3 kW', '3 kW to 5 kW', and '5 kW and above'. Each sub-segment caters to specific power requirements and applications. In 2023, the 'Less than 1 kW' sub-segment held a significant market share due to its widespread use in portable devices and small appliances. The '1 kW to 3 kW' sub-segment is projected to witness substantial growth owing to its suitability for powering medium-sized equipment and tools.The '3 kW to 5 kW' sub-segment caters to higher power demands and is anticipated to grow steadily. The '5 kW and above' sub-segment is expected to gain traction in industrial and commercial applications requiring higher power output.
Single Phase Portable Conventional Genset Market Portability Insights
The Single Phase Portable Conventional Genset Market is segmented by portability into compact, medium, and large. The compact segment is expected to hold the largest market share in 2024, owing to its portability and affordability. The medium segment is expected to grow at the highest CAGR during the forecast period due to its increasing use in residential and commercial applications. The large segment is expected to account for a significant market share, owing to its high power output and durability. In 2024, the compact segment is expected to have a market value of USD 1.2 billion, while the medium and large segments are expected to have market values of USD 0.6 billion and USD 0.3 billion, respectively.The growth of the market is attributed to the increasing demand for reliable and portable power sources in various applications, such as residential, commercial, and industrial.
Single Phase Portable Conventional Genset Market Application Insights
The Single Phase Portable Conventional Genset Market is segmented by application into residential, commercial, and industrial. Among these segments, the residential segment is expected to hold the largest market share in 2023, accounting for over 40% of the global market revenue. The increasing demand for portable power sources for homes and recreational activities is driving the growth of this segment. The commercial segment is also expected to witness significant growth during the forecast period, owing to the rising demand for backup power in offices, retail stores, and other commercial establishments.The industrial segment is expected to grow at a steady pace, driven by the demand for portable power in construction, mining, and other industrial applications.
Single Phase Portable Conventional Genset Market Regional Insights
The Single Phase Portable Conventional Genset Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America is expected to dominate the market in 2024, owing to the presence of a large number of construction and industrial activities. Europe is expected to be the second-largest market, followed by APAC. The APAC region is expected to witness significant growth in the coming years due to the increasing demand for power generation in developing countries such as China and India. South America and MEA are expected to be the smallest markets for single-phase portable conventional gensets.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Single Phase Portable Conventional Genset Market Key Players And Competitive Insights:
Major players in the Single Phase Portable Conventional Genset Market industry are continuously striving to gain a competitive edge by implementing various strategies such as product innovation, geographical expansion, and strategic partnerships. Leading Single Phase Portable Conventional Genset Market players are investing heavily in research and development to enhance the efficiency and performance of their products. The Single Phase Portable Conventional Genset Market development is being driven by the increasing demand for reliable and portable power sources in various applications, including residential, commercial, and industrial sectors. The competitive landscape of the Single Phase Portable Conventional Genset Market is expected to remain dynamic, with established players and new entrants vying for market share.Honda is a leading company in the Single Phase Portable Conventional Genset Market, known for its reliable and fuel-efficient generators. The company has a strong distribution network and offers a wide range of products to cater to diverse customer needs. Honda's focus on innovation and customer satisfaction has enabled it to maintain a strong position in the market.Yamaha is another major competitor in the Single Phase Portable Conventional Genset Market. The company offers a comprehensive range of generators, including portable, inverter, and industrial models. Yamaha's generators are renowned for their durability, performance, and user-friendly features. The company has a global presence and a strong brand reputation, which contribute to its success in the market.
Key Companies in the Single Phase Portable Conventional Genset Market Include:
Single Phase Portable Conventional Genset Market Industry Developments
The Single Phase Portable Conventional Genset Market is projected to witness steady growth over the forecast period, 2024-2032. The market is driven by increasing demand for backup power solutions in residential and commercial applications, coupled with growing infrastructure development in emerging economies. Moreover, rising concerns regarding power outages and grid unreliability are further fueling the market growth. Technological advancements, such as the integration of advanced control systems and fuel-efficient engines, are also contributing to the market expansion. Key industry participants are focusing on product innovation and strategic partnerships to gain a competitive edge in the market.
Single Phase Portable Conventional Genset Market Segmentation Insights
| Report Attribute/Metric | Details |
| Market Size 2022 | 2.05 (USD Billion) |
| Market Size 2023 | 2.11 (USD Billion) |
| Market Size 2032 | 2.75 (USD Billion) |
| Compound Annual Growth Rate (CAGR) | 2.97% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Yamaha Motor Co., Ltd., Honda Motor Co., Ltd., Hyundai Heavy Industries Co., Ltd., Doosan Infracore Co., Ltd., Generac Power Systems, Inc., Eisemann Automotive GmbH, Kohler Co., Cummins Inc., Briggs Stratton Corporation, Caterpillar Inc., MIRATECH Corporation, Atlas Copco AB, Pramac Lifter S.r.l., Ingersoll Rand, Inc., Atlas Copco Industrial Technique AB |
| Segments Covered | Fuel Source, Power Output, Portability, Application, Regional |
| Key Market Opportunities | Expansion in construction growth in the rental industry increases demand for emergency power backup technological advancements, urbanization and industrialization. |
| Key Market Dynamics | Rising demand for technological advancements, government regulations, environmental concerns, competitive landscape |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Single Phase Portable Conventional Genset market is projected to reach a valuation of 2.75 billion USD by 2032, growing at a CAGR of 2.97%.
In 2023, the Single Phase Portable Conventional Genset market was valued at approximately 2.11 billion USD.
The Asia-Pacific region is expected to hold the largest market share, driven by increasing demand from emerging economies such as China and India.
Single Phase Portable Conventional Genset are primarily used for power backup in residential, commercial, and industrial settings.
Key competitors in the Single Phase Portable Conventional Genset market include Generac, Cummins, Honda, Yamaha, and Briggs Stratton.
Rising demand for reliable backup power, increasing urbanization, and growing focus on disaster preparedness are driving the growth of the Single Phase Portable Conventional Genset market.
Challenges faced by the Single Phase Portable Conventional Genset market include environmental regulations, competition from alternative power sources, and fluctuating raw material costs.
The Single Phase Portable Conventional Genset market is projected to reach a valuation of approximately 2.35 billion USD by 2025.
The Single Phase Portable Conventional Genset market is projected to reach a valuation of approximately 2.63 billion USD by 2030.
Key trends shaping the Single Phase Portable Conventional Genset market include advancements in inverter technology, increasing adoption of smart features, and growing demand for eco-friendly generators.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
