Portable Generator Market Projected to Reach $3.58 Billion by 2030, Driven by Rising Demand for Backup Power
Market Overview
The global portable generator market is expected to reach USD 3.58 billion by 2030, growing at a CAGR of 6.25% from 2024. This growth is attributed to the increasing demand for reliable backup power in residential and commercial settings, as well as the growing popularity of outdoor activities like camping and RVing.
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Market Scope
The report offers valuable insights into the portable generator market, including market size, growth trends, segmentation, key players, and regional analysis. This information can help businesses make informed decisions about product development, marketing strategies, and market entry.
Segmentation
- Fuel Type: Gasoline is the dominant fuel type segment, accounting for the largest market share and expected to continue growing due to its affordability and portability.
- Power Rating: The 5 kW to 10 kW segment is expected to witness the fastest growth due to its versatility in powering various appliances and equipment.
- End User: The residential segment is expected to hold the largest market share due to the increasing need for backup power during outages and for recreational activities.
Market Players
- North America: Generac Holdings Inc. (USA), Briggs and Stratton LLC (USA), Caterpillar, Inc. (USA)
- Europe: Atlas Copco AB (Sweden), KAZANCI HOLDING (Turkey), Eaton Corp. Plc (Ireland)
- Asia Pacific: Doosan Corp. (South Korea), H.S. ENGINEERS (India), Honda Motor Co. Ltd. (Japan)
Regional Analysis
Asia Pacific is expected to be the fastest-growing region in the portable generator market due to rapid urbanization, increasing disposable income, and growing awareness of disaster preparedness.
COVID-19 Impact Analysis
The COVID-19 pandemic had a temporary negative impact on the portable generator market due to supply chain disruptions and lockdowns. However, the market is expected to recover quickly as economic activity resumes.
Key Questions Answered
- What is the current and projected size of the portable generator market?
- What are the key growth drivers of the market?
- Which segment is expected to hold the largest market share?
- Who are the major players in the market?
- How is the regional landscape of the market evolving?
- What is the impact of COVID-19 on the market?
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