Farmington, May 11, 2023 (GLOBE NEWSWIRE) -- The Global Low Capacity Portable Generator Market size was valued at USD 2.2 billion in 2022 and is projected to reach USD 3.5 billion by 2030, growing at a CAGR of 6.00% from 2023 to 2030. Key factors driving the growth of this market include the rapidly rising the construction industry, rise in the instances of power outages owing to extreme weather conditions, rising natural calamities and frequent power outage.
The rapid expansion of the construction industry is also driving market expansion. In the construction industry, drills, motors, compressors, and air hammers of all sizes are frequently employed. When natural disasters such as tsunamis, earthquakes, floods, bushfires, storms, hurricanes, and volcanic eruptions occur, more individuals require portable generators.
Request Sample Copy of Report “Low Capacity Portable Generator Market Size, Share & Trends Estimation Report By Type Outlook (Conventional portable generators, Inverter portable generators) By Fuel (Diesel, Gas, Others) By Power Rating (Below 5KVA, 5-15kVA, 15-45kVA, 45-75kVA) By Application Outlook (Residential, Commercial, Others) By Region, And Segment Forecasts, 2023 - 2030”, published by Contrive Datum Insights.
Segmentation Overview:
Type Outlook:
On the market, conventional portable generators and inverter portable generators are the two most common types of portable generators. Approximately 58-64% of the portable generator market's revenue in 2021 was generated by conventional portable generators.
Fuel:
Most commonly used fuels for portable generators are diesel, gasoline, and others. Diesel is the most common fuel used in residential generators because it is more efficient, less expensive, and lasts longer than gasoline. Diesel generators are highly reliable and can operate with a heavy load for extended periods of time. They are also driving trends in the market for portable generators.
Power Rating:
The residential sector is anticipated to present substantial opportunities for the sub-5kVA segment. Transferable and adaptable, these generators protect lives during natural disasters by maintaining continuous power. This equipment is dependable for mitigating frequent power outages and preventing blackouts in the event of grid failure. Similarly, other sectors are experiencing gradual growth due to the expansion of commercial spaces and small and medium-sized businesses.
Application:
As more people migrate from rural to urban areas, the world is becoming increasingly urbanized. The expansion of the global GDP is largely attributable to urban areas. This expansion attracts investors who wish to expand their businesses, thereby increasing the demand for electricity. In metropolitan areas, individuals can find employment, launch businesses, and improve their lives in numerous ways. The urban sector has a great deal of growth potential, so more people are moving to metropolitan areas. Consequently, the market is likely to expand as the population and commercial and urban sectors expand.
Regional Analysis:
Because more people will be using electricity and there will be more blackouts, the portable generator market is expected to expand significantly in the coming years. Asia-Pacific has a significant impact on the residential generator market and is anticipated to have the largest portable generator market share. Emerging economies such as China and India, which are investing heavily in the energy and power sector, are responsible for the expansion. Even though the government is investing in grid infrastructure, millions of people in this region still lack access to electricity, which could benefit the growth of the portable generator. North America and Europe, on the other hand, are experiencing steady growth due primarily to an increase in natural disasters. In Africa and the Middle East, there is a high demand for home generators due to inadequate grid infrastructure. In many Gulf countries, portable generators are frequently used to provide backup or continuous power during public events or natural disasters. In addition, this region has a great deal of economic growth potential, and numerous multinational corporations are investing in a variety of industries. Therefore, portable generators are the most effective way to provide power in remote areas and prevent frequent power outages.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 6% from 2023 to 2030. |
| Revenue Forecast by 2030 | $3.50 billion |
| By Type |
|
| By Fuel |
|
| By Power Rating |
|
| By Application |
|
| By Companies |
|
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Restraining Factors:
• Stringent Government Regulations Regarding Generator Emissions
There are numerous applications for portable generators in homes, businesses, and factories. When diesel is burned in a generator, oxides of nitrogen, carbon monoxide, and small particles are produced. These emissions are released directly into the atmosphere and harm both the environment and the inhabitants. Multiple international regulations have been enacted to limit the amount of noise and air pollution that generator sets produce. The Consumer Product Safety Commission (CPSC) is crucial to regulating gas-powered generators, which can emit as much carbon monoxide as a car. Countries are attempting to reduce the pollution caused by portable generators' fuels. For instance, California prohibits the use of portable generators within its borders.
• High Production Costs
The production of portable generators is becoming more expensive, and safety concerns are growing. This could harm the portable generator market. A number of technical and functional issues, such as the fact that these generators can only power a small number of devices, produce a great deal of carbon monoxide, are loud, and consume a great deal of gasoline, make it difficult for people to purchase them. This renders it unusable in the event of a sudden power outage, necessitating assistance from an operator and limiting the product's utility.
• Governmental and international initiatives to increase access to electricity
Developing nations pay close attention to the frequency of power outages and the amount of available electricity. As local governments become more interested in expanding the grid infrastructure to meet the needs of end users, the market is likely to shrink. In addition, growing concerns about greenhouse gas emissions and a shift toward clean energy technologies will likely slow the market's expansion.
Opportunity Analysis:
• Technological Developments, including Dual-Fuel and Inverter Portable Generators
Hybrid generators typically consist of an internal combustion engine and batteries. Many OEMs offer hybrid generators. When the load is high, these hybrid gensets directly power the engine. When the load is light, the battery powers the engine. They are superior to conventional generator sets in a number of ways, such as running for less time, consuming less fuel, and producing less noise. They are also anticipated to enter the market for mobile generator sets, which are predominantly used in residential and construction settings.
Dual fuel generators improve the dependability of backup power systems by combining the best features of gas and diesel generators. In an emergency, diesel can be the only fuel for portable generators that can operate on either diesel or gasoline. Multiple generator manufacturers are implementing dual-fuel technology to address issues with diesel engines.
• Ease of Accessibility and Affordability
The gasoline fuel segment of the portable generators market will exceed USD 14 billion by 2032. Gasoline remains the most common fuel for generators due to its accessibility and affordability. It is compatible with air-cooled generators with user-friendly control panels. In addition, gasoline generators are commonly used in homes, small industrial facilities, and construction sites because they can operate efficiently for 4 to 11 hours per day.
Key Segments Covered:
Top Market Players:
- Eaton
- Generac Holdings
- Honda Power Equipment
- Yamaha Motor
- Briggs and Stratton
- Champion Power Equipment
- Honeywell International
- Kohler
By Type:
- Conventional portable generators
- Inverter portable generators
By Fuel:
- Diesel
- Gas
- Others
By Power Rating:
- Below 5KVA
- 5-15kVA
- 15-45kVA
- 45-75kVA
By Application:
- Residential
- Commercial
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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