The portable generator market is expected to grow from an estimated USD 1.8 billion in 2021 to USD 2.5 billion by 2026, at a CAGR of 6.7% during the forecast period. Frequent power outages due to weather and aging grids are the main drivers for the portable generator market. Increasing adoption of dual fuel and inverter portable generators are expected to offer lucrative opportunities for the portable generator market during the forecast period.
A few major players that have a wide regional presence and dominate the portable generator market. The leading players in the portable generator market include Honda (Japan), Generac (US), Caterpillar (US), Atlas Copco (Sweden), and Yamaha (Japan).
The major strategies adopted by these players include new product launches, contracts & agreements, investments & expansions, mergers & acquisitions, joint ventures, and partnerships & collaborations. New product launches was the most commonly adopted strategy from January 2017 to February 2021.
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Honda is a leading manufacturer of motorcycles, automobiles, and power products. The company has a global presence and operates in 4 business segments—Automobiles Business, Financial Services Business, Motorcycles Business, and Life Creation & Others Business. It offers portable generators through its Life Creation & Others business segments, which accounted for a share of 2.2% of the company’s total revenue in 2020. The Life Creation & Other business segments include tillers, generators, snow throwers, outboard engines, and lawnmowers. Honda’s portable generators are used in appliances, such as TVs, DVDs, refrigerators, and coffee pots. Honda is also developing and producing electrified products, which include the miimo robotic lawnmower and the LiB–AID E500, that offer advanced portable power source, under its power products business segment. Honda delivers 6 million power products, annually, to its customers in over 150 countries. The company has 42 R&D centers across Europe, North America, South America, and Asia, particularly China and Japan. The company has 15 R&D centers in North America, which helped it analyze the requirements of its customers and align its products with their requirements.
Generac manufactures a wide range of power products, including portable, residential, commercial, and industrial generators. The company conducts its operations through 3 business segments—Residential Products, Commercial & Industrial Products, and Others. It offers portable generators through its Residential Products business segment, which accounted for a share of 51.9% of the company’s total revenue in 2019. The Residential Products business segment consists of standby generators with an output range of 6–60 kW and portable and inverter generators with an output range of 0.8 kW to 17.5 kW that operate on natural gas, liquid propane, and diesel. Generac also offers manual transfer switches along with portable generators. The portable generators manufactured by the company are used in residential, light construction, and recreational activities. The primary competitors of Generac in the Residential Products business segment are Kohler, Briggs & Stratton, Cummins, Honda, and Champion. Generac has its presence in North America, South America, Europe, the Middle East, and Asia Pacific, with independent distributor in over 150 countries. The company has its R&D facilities in countries such as the US, Mexico, Italy, Spain, China, and Germany. It also has more than 15 manufacturing facilities globally.
Portable Generator Market by Fuel (Gasoline, Diesel, Natural Gas, Others), Application (Emergency, Prime/Continuous), Power Rating (below 5 kW, 5–10 kW, 10–20 kW), End User (Residential, Commercial, Industrial), and Region - Global Forecast to 2026
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