Power-Hungry Construction Industry to Fuel Exponential Jump in Portable Generator Market, says Market.us

Nikhil Randhe
Nikhil Randhe

Updated · Jan 30, 2023

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Due to frequent power outages, limited grid infrastructure in distant areas, and negative environmental effects, the portable generator market is expected to have profitable growth. The industry forecast is projected to be boosted by expanding urbanization rates, rising infrastructure activities, and rising demand for reliable electricity supplies.

According to a report by Market.us, “The market for portable generators was estimated at USD 4.57 billion in 2022, and from 2022 to 2032, it is anticipated to increase at a compound annual growth rate (CAGR) of 5.4%. In the projected time frame, it is expected to reach USD 7.73 billion.”

Portable Generator Market Growth

Demand for uninterruptible power supply has significantly increased across a range of industry verticals, including automotive, oil & gas, and petrochemical. The need for a constant source of power is growing as a result of factors like the frequency of power outages caused by extreme weather events like earthquakes, hurricanes, cyclones, and landslides.

Additionally, the use of electric power in industries including the automobile, oil and gas, agriculture, agriculture, aerospace and defense, and IT and telecommunications has significantly increased during the past few years.

As a result, there will be an increase in the need for a constant power supply, which is good news for the development of portable generators.

Anurag Sharma, a senior research analyst at Market.us, said, “The burgeoning construction industry is predicted to cause the market for portable power generators to grow fast. The construction sector uses a wide variety of power tools, including drives, drills, compressors, saws, and air hammers. These instruments must be used day and night in order to complete projects like constructing railroads, bridges, and mending the infrastructure of the transportation system.”

Electricity from the grid cannot be supplied for construction projects. As a result, temporary power sources, including generators, UPS systems, and inverters, are used to power construction activities.

The market is divided into diesel and gaseous generators based on the type of product. Due to the advantages these variations offer, including a longer service life and the capacity to handle big loads, the diesel sector dominated the market in 2021. Additionally, due to their improved fuel efficiency, diesel variants are the preferred choice in sectors including mining, construction, and oil & gas.

Kohler Co., Generac Power Systems Inc., Multiquip, Inc., Cummins, Inc., Harrington Generators International Ltd., WINCO, Wacker Neuson SE, Briggs & Stratton Corporation, Caterpillar Inc., and Honda Siel Power Products Ltd. are important market participants. Through R&D initiatives, players are involved in the creation of inventive generators. Products with cutting-edge features like IoT connectivity and emission detection systems are being developed by them.

Generac Power Systems stated in March 2021 that it would completely redesign its Powermate portable generators. Ten portable generator modules make up the new lineup, which will almost entirely satisfy demand and make life easier for homeowners.

Atlas Copco increased the 500 kVA capacity of their QES portable generator line in January 2021. In addition to operating continuously for up to 500 hours in both extremely high and low temperatures, this enables the generators.

Due to increased energy use and frequent blackouts, the portable generator market is expected to rise significantly in the future years.

Asia-Pacific is predicted to lead the portable generator market share and makes a substantial contribution to the home generator industry. Emerging economies like China and India, which are making significant investments in the energy and power industry, are credited with the development.

Rising natural disasters are the key factor fueling the continuous growth seen in North America and Europe. Due to subpar grid infrastructure in African nations, there is a considerable demand for household generators throughout the Middle East and Africa.

Portable generators are frequently utilized in several Gulf nations to give backup or continuous power supply for public events or in case of a natural tragedy.

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Nikhil Randhe

Nikhil Randhe

I am Nikhil, working as a Digital Marketing Associate at Prudour Pvt Ltd. I did a Master's in Digital Marketing and worked in a Core SEO team. I an passionate about Digital Marketing with skills such as Search Engine Optimisation, Search Engine Marketing, Google Analytics, etc.