Portable Generator Market Size
Market Outlook:
Base Year Value (2023)
USD 4.85 Billion
CAGR (2024-2032)
5.6%
Forecast Year Value (2032)
USD 7.92 Billion
Historical Data Period
2019-2023
Largest Region
Asia Pacific
Forecast Period
2024-2032
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Market Dynamics:
Growth Drivers & Opportunity:Growing demand for portable power sources in the residential and commercial sectors is a key growth driver for the portable generator market. With increasing instances of power outages due to natural disasters and grid failures, the need for reliable backup power solutions is driving the demand for portable generators.
The rise in outdoor recreational activities and events is also driving the growth of the portable generator market. Portable generators are essential for providing power in remote locations where access to grid power is limited, making them popular among campers, outdoor enthusiasts, and event organizers.
The trend towards digitalization and increasing reliance on electronic devices is creating opportunities for portable generator manufacturers. As consumers become more dependent on electronic gadgets and appliances, the need for reliable power sources to keep them running during outages is fueling the demand for portable generators.
Industry
Report Scope
| Report Coverage | Details |
|---|---|
| Segments Covered | Product, Application |
| Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
| Company Profiled | Briggs & Stratton Corp., Atlas Copco AB, Cummins, Caterpillar, Generac Power Systems, Eaton Corp. Plc, Kohler Co., Honda Motor Co.., Yamaha Motor and ViacomCBS Inc among others |
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Despite the growth opportunities, the portable generator market faces challenges in terms of stringent emission regulations. With increasing environmental concerns, governments worldwide are implementing stringent emission standards for portable generators, which is driving up manufacturing costs and limiting market growth.
Another major restraint for the portable generator market is the availability of alternative power sources such as solar panels and fuel cells. As the trend towards renewable energy sources continues to gain momentum, consumers are increasingly opting for clean and sustainable power solutions over traditional diesel or gasoline-powered generators, posing a threat to the growth of the portable generator market.
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