The Latest Portable Generator Industry Statistics Explained
By 2023, the global portable generator market is projected to reach USD 2.28 billion at a 3.66% CAGR.
This statistic indicates that the global portable generator market is expected to grow and reach a value of USD 2.28 billion by the year 2023. The projection is based on a Compound Annual Growth Rate (CAGR) of 3.66%, which represents the average annual growth rate over the period of the projection. This implies that the market is anticipated to expand steadily at this rate until 2023. The growing demand for portable generators, driven by factors such as increasing power outages, the rise in outdoor recreational activities, and the need for backup power sources in emergencies, is likely contributing to this positive growth trend in the global portable generator market.
In 2020, the U.S. portable generator market size was valued at USD 476.6 million.
The statistic indicates that in the year 2020, the total value of the U.S. portable generator market was estimated to be USD 476.6 million. This value reflects the sum of all the revenue generated by companies selling portable generators in the United States during that year. The market size value serves as a key indicator of the economic activity and demand for portable generators within the U.S. market. It is used by businesses, investors, and policymakers to assess the performance and growth potential of the portable generator industry, make strategic decisions, and understand consumer preferences and trends.
The Asia Pacific region, particularly China and India are expected to observe the fastest growth in the portable generator industry with a CAGR of 4.8%.
The statistic indicates that the portable generator industry in the Asia Pacific region, specifically in China and India, is projected to experience substantial growth with a Compound Annual Growth Rate (CAGR) of 4.8%. This suggests that there is a high demand for portable generators in these countries, likely due to factors such as increasing urbanization, unstable power supply, or a growing need for backup power solutions. The significant CAGR highlights the potential for substantial expansion and market opportunities in the portable generator industry within this region, making it an attractive market for businesses operating in this sector.
Generally, less than 4 kilowatts (kW) portable generators are estimated to hold approximately 50% of market share in terms of volume.
This statistic suggests that portable generators with a power capacity of less than 4 kilowatts are the most popular choice among consumers, capturing around 50% of the market in terms of sales volume. This indicates that there is a strong preference among consumers for smaller portable generators that are more compact and typically more affordable compared to higher capacity models. The popularity of these generators may be attributed to their versatility in powering essential appliances and devices during power outages or outdoor activities. The market dominance of less than 4 kW portable generators highlights a significant demand for reliable power solutions that are portable and easy to use for a wide range of applications.
85% of the portable generator market supply is dominated by companies like Briggs & Stratton, Honda, Generac, Yamaha, and Caterpillar.
The statistic indicates that a significant portion of the portable generator market supply, specifically 85%, is controlled by a few key companies including Briggs & Stratton, Honda, Generac, Yamaha, and Caterpillar. This dominance suggests that these companies have a strong presence and competitive advantage in the portable generator industry, potentially due to factors such as brand reputation, product quality, customer loyalty, and market reach. Consumers looking to purchase a portable generator are therefore more likely to choose from products offered by these companies, highlighting the importance of their market influence and the challenges faced by smaller competitors trying to gain a foothold in the industry.
By 2027, the global commercial portable generator market size is expected to reach USD 5.2 billion.
The statistic indicates a projected value for the global commercial portable generator market size by the year 2027, with an expected value of USD 5.2 billion. This figure suggests a significant increase in the demand and revenue generated by portable generators used for commercial purposes worldwide. Factors such as an increasing need for reliable backup power sources in various industries, growing awareness of the importance of energy security, and advancements in portable generator technology may contribute to this anticipated market growth. The projected market size serves as a valuable indicator for businesses operating within the commercial portable generator industry, enabling them to make informed strategic decisions and investments to capitalize on the expected market expansion.
In 2020, gasoline-fueled portable generators accounted for over 65% market share.
The statistic indicates that in 2020, gasoline-fueled portable generators held a dominant position in the market with a market share exceeding 65%. This suggests that gasoline-fueled portable generators were the preferred choice among consumers for various power needs such as outdoor events, emergency backup power, and construction sites. The high market share signifies the popularity and reliability of gasoline generators compared to other types of portable generators like diesel or propane. The statistic also implies the potential impact on related industries such as the fuel distribution sector, which may have experienced increased demand for gasoline to power these portable generators.
The residential sector of portable generators is projected to hold more than 60% of the market share by 2024.
The statistic indicates that by the year 2024, the residential sector is expected to surpass other sectors in the portable generator market, occupying more than 60% of the total market share. This projection suggests a significant increase in the demand for portable generators among individual households for various purposes such as backup power during outages or for outdoor recreational activities. The dominance of the residential sector in this market indicates a shift towards more decentralized power solutions and highlights the importance of portable generators in meeting the energy needs of households in the coming years.
Diesel portable generators accounted for more than 40% of worldwide sales in 2020.
The statistic that diesel portable generators accounted for more than 40% of worldwide sales in 2020 indicates that a significant portion of the market share for portable generators was attributed to diesel models specifically during that year. This suggests that diesel generators were a popular choice among consumers, potentially due to factors such as their reliability, efficiency, and power output. The figure of over 40% underscores the dominance of diesel generators in the global market for this particular type of power equipment, highlighting their importance in meeting various electricity needs, ranging from backup power in emergencies to powering remote locations and events where grid power is unavailable.
By 2025, the Portable Inverter Generator market is expected to reach USD 1.5 billion.
The statistic states that the Portable Inverter Generator market is projected to grow and reach a value of USD 1.5 billion by the year 2025. This suggests a substantial increase in the market size and demand for portable inverter generators over the next few years. The growth could be driven by various factors such as increasing need for portable power sources, rising demand for clean and efficient energy solutions, and advancements in technology. This forecast provides valuable insights for businesses operating in the Portable Inverter Generator industry to capitalize on the anticipated market growth and opportunities in the coming years.
The demand for portable generators in the construction industry is expected to grow by 3.6% CAGR till 2027.
This statistic indicates that the demand for portable generators in the construction industry is projected to increase at a compound annual growth rate (CAGR) of 3.6% until the year 2027. This growth rate suggests a steady and consistent rise in the demand for portable generators within the construction sector over the specified period. Factors contributing to this growth could include an increase in construction activities, a rise in infrastructure development projects, and an emphasis on backup power solutions to ensure continuous operations at construction sites. The projection highlights a positive trend for the portable generator market in the construction industry and could potentially attract investment opportunities in this sector.
Latin America market is expected to grow by a CAGR of 3.5% during 2021-2028.
The statistic indicates that the Latin America market is projected to experience a Compound Annual Growth Rate (CAGR) of 3.5% from 2021 to 2028. This means that on average, the market is anticipated to increase by 3.5% annually over the specified time period. This growth rate reflects the expected expansion and development of economic activities and businesses within the Latin America region. Factors such as increasing consumer demand, technological advancements, and favorable market conditions may contribute to this projected growth rate. Companies and investors in this market may use this statistic to make strategic decisions and plan for future investments in the region.
The Middle East & Africa market for portable generators is expected to grow at a CAGR of around 2% during 2021-2026.
This statistic indicates the anticipated growth rate of the portable generator market in the Middle East & Africa region over the period of 2021 to 2026. A Compound Annual Growth Rate (CAGR) of around 2% suggests a relatively modest and steady expansion of the market during this timeframe. This projection indicates that the demand for portable generators is expected to gradually increase over the next five years in the Middle East & Africa region. Factors such as infrastructure development, increasing power outages, and a rise in the need for dependable power sources in remote areas could be driving this growth. Companies operating in this market may find opportunities for expansion and investment based on this growth forecast.
From 2020-2026, the propane portable generator market is predicted to register a CAGR of 4%.
This statistic indicates that the propane portable generator market is forecasted to experience a Compound Annual Growth Rate (CAGR) of 4% over the period from 2020 to 2026. A CAGR of 4% means that on average, the market size is expected to increase by 4% annually during this time frame. This growth rate suggests a steady expansion in the demand and adoption of propane portable generators, likely driven by factors such as increased power outages, a growing need for portable power solutions, and a shift towards more environmentally friendly energy sources. Businesses operating in this market can use this projection to inform their strategic planning, investment decisions, and marketing strategies to capitalize on the anticipated growth opportunities in the propane portable generator sector.
In 2018, the global revenue for the portable generator market was $2.8 billion.
The statistic indicates that the total revenue generated by the portable generator market worldwide in 2018 was $2.8 billion. This figure represents the collective sales and profits generated by businesses that manufacture and sell portable generators to consumers and industries across various countries. The revenue figure serves as a key metric for assessing the size and economic significance of the portable generator market, highlighting the demand and market value associated with these products during the specified time period. This statistic provides valuable insight into the financial performance and market dynamics of the portable generator industry, reflecting its contribution to the global economy in 2018.
In 2020, Single phase Portable Generators accounted for close to 70% of the total market demand.
In 2020, single-phase portable generators dominated the market demand, capturing nearly 70% of the total market share. This statistic indicates a strong preference among consumers for single-phase portable generators over other types of generators, such as three-phase or stationary models. The high market share of single-phase portable generators suggests that they are favored for their versatility, portability, and ease of use by individuals or small businesses looking for reliable backup power solutions. Additionally, this statistic highlights the importance of understanding consumer preferences and market trends to effectively cater to the demand for portable generators in the industry.
In 2021, North America held the second-largest share of the global portable generator market at 32.2%.
The statistic indicates that in 2021, North America accounted for 32.2% of the total market share in the global portable generator market, making it the second-largest region in terms of market size. This suggests that North America had a significant presence and influence in the portable generator market compared to other regions around the world. The high market share reflects the demand for portable generators in North America, potentially driven by factors such as increasing power outages, natural disasters, and a growing need for backup power sources. The statistic highlights the importance and competitiveness of the North American market in the portable generator industry in 2021.
Conclusion
The statistics presented in this blog post illuminate the current state of the portable generator industry, highlighting key trends, challenges, and opportunities. As the demand for reliable power sources continues to increase, manufacturers and stakeholders in the industry must remain agile and innovative to meet the evolving needs of consumers. By leveraging these insights, businesses can make informed decisions and drive growth in this dynamic market.
References
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