The Portable Generator Market was at US$ 4.4 Billion in 2021 and is growing to approx US$ 7 Billion by 2030, with a CAGR growth of 5% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, January 22, 2023 /EINPresswire.com/ -- According to the study, The Global Portable Generator Market was estimated at USD 4.4 Billion in 2021 and is anticipated to reach around USD 7 Billion by 2030, growing at a CAGR of roughly 5% between 2022 and 2030.

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Portable Generator Market: Overview

Portable generators find in applications in generating electricity that is used in household, industrial, and commercial settings. Applications covered by the study include producing electricity for live commercial events, electrifying equipment on building sites, providing backup power during power outages, and others.

Portable Generator Market: Growth Drivers

People have begun to choose Portable generators, particularly for residential applications, since urbanization and power system breakdowns have increased regularly to maintain an uninterrupted electrical supply. The growing demand for reliable power supply, supported by the burgeoning construction industry, is projected to support market expansion. Rapid infrastructural development and industrialization are anticipated to have a beneficial impact on market expansion.

The residential sector will grow due to numerous government efforts; for example, in India, the Pradhan Mantri Awas Yojana program will see the construction of 20 million affordable homes in urban areas nationwide.

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Key Insights:

A) As per the analysis shared by our research analyst, the Portable Generator market is estimated to grow annually at a CAGR of around 5% over the forecast period (2022-2030).
B) In terms of revenue, the Portable Generator market size was valued at around USD 4.4 Billion in 2021 and is projected to reach USD 7 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Based on fuel segmentation, the gasoline segment was predicted to show maximum market share in the year 2021.
D) Based on power output segmentation, the 5kW-10kWsegment was the leading revenue-generating category in 2021.
E) Based on application segmentation, the residential segment was the leading revenue-generating category in 2021.
F) On the basis of region, the North America region was the leading revenue generator in 2021.

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Regional Landscape

Developing nations like China, Japan, South Korea, and India have experienced tremendous industrialization, making the Asia-Pacific region the fastest-growing market for Portable Generators.

The need for Portable Generators is also anticipated to increase as a result of the rising industrialization of Latin America and the Gulf nations. This is because Portable Generators are used for a variety of construction tasks, such as cutting, drilling, lifting, and many others. One of the main drivers of growth for the Middle East’s Portable Generator industry is the region’s easy access to fossil fuels.

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Key Players

Atlas Copco
Briggs & Stratton
Generac
Honda
Yamaha
Caterpillar
Cummins
Eaton
Honeywell
Siemens
Wacker Neuson
Kubota

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The Portable Generator Market is segmented as follows:

By Fuel

Gasoline
Diesel
Others

By Power Output

More than 10kW
3-10kW
Less than 3kW

By Application

Domestic
Industrial
Commercial

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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