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Single Phase Portable Generators Market was valued at USD 6.4 billion in 2023 and is expected to grow at over 4.1% CAGR from 2024 to 2032. Increasing infrastructural investments & ongoing construction boom is emerging as one of the catalysts for business growth. Moreover, the massive growth in the telecommunications sector is accompanied by a comparable growth in the gensets market.
Surging severity & frequency of weather-related disasters causing prolonged blackouts will positively sway the industry growth. The market is poised for expansion due to a heightened awareness of increased risks and the continued implementation of preparedness measures to address natural calamities. In addition, growing regulatory emphasis toward machine-to-machine communications and Internet of Things (IoT) will entail the expansive use of power generation equipment.
Report Attribute | Details |
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Base Year: | 2023 |
Single Phase Portable Generators Market Size in 2023: | USD 6.4 Billion |
Forecast Period: | 2024 to 2032 |
Forecast Period 2024 to 2032 CAGR: | 4.1% |
2032 Value Projection: | USD 9.1 Billion |
Historical Data for: | 2019 to 2023 |
No. of Pages: | 550 |
Tables, Charts & Figures: | 1,537 |
Segments covered: | Product, Fuel & Power Rating, End Use |
Growth Drivers: |
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Pitfalls & Challenges: |
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The COVID-19 pandemic has had no discernible impact on the single phase portable generators market, which continues to thrive due to growing consumer preference for uninterrupted electricity supply and the widespread adoption of remote work globally. The increased need for emergency power backup in response to crises, coupled with substantial advancements in healthcare infrastructure, has significantly boosted the industry's potential.
The ongoing recovery of the construction sector coupled with favorable government schemes & funding will stimulate the investments in the real estate sector, accelerating the industry potential. Subsequently, the trend of new housing construction will continue to boost the portable generators demand. The massive growth in the telecommunications sector is accompanied by a comparable growth in the gensets market, which caters to the continuous power requirements of the telecom infrastructure.
The portable inverter generators market size will witness more than 4.8% growth rate through 2032. The growing apprehension among consumers regarding a dependable and uninterrupted power supply, coupled with the thriving construction sector, is set to have a favorable impact on the industry environment. The product provides significant advantages such as its lightweight design, compact size, quiet operation, and impressive fuel efficiency, contributing to the expansion of business opportunities.
The residential single phase portable generators segment held approximately 50% of the market share in 2023. Economic viability to cater to low power requirements primarily across wide tandem of application areas will strengthen the demand for these gensets. It is extensively utilized to meet the power needs of equipment with low power consumption.
The gasoline gensets industry is set to surpass USD 7.5 billion by 2032. It is the preferred fuel for generators due to its cost-effectiveness and convenient portability. Its widespread availability makes it a practical choice for air-cooled backup generators. These units are known for being quiet and easy to operate, thanks to their user-friendly control panels. This reduces the reliance on expert guidance, as users can easily understand and manage the operations themselves.
The major companies are focusing on marketing strategies, technological advancements, brand recognition and economies of scale to meet the competition prevailing in the industry.
Kirloskar, an Indian engineering conglomerate, has been a significant player in the portable gensets industry. The company is known for manufacturing a wide range of products, including engines and power generation equipment, and it has a notable presence in the power sector.
The key industry market players include:
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Market, By Product
Market, By Fuel & Power Rating
Market, By End Use
The above information has been provided for the following regions and country: