Portable Generator Market Share

Growing Prevalence of Camping and Caravan Tourism to boost the market growth

Caravan tourism and camping are becoming increasingly popular across the world owing to the flexibility and freedom that the accommodation gives. In recent years, a rising number of consumers have prioritized living better lifestyles, fuelling development in the active and outdoor recreation industries. Activities such as running, hiking, cycling, sailing, fishing, camping, and walking became increasingly popular as both fitness and socially distant activity. This has resulted in increasing demand for products and services in several areas, with a substantial possibility of future demand.

A pandemic and the development of remote work drove many people to seek refuge in nature. With 2020's lockdowns, travel restrictions, and indoor eating prohibitions, RV living, and camping have become popular again. More than 70% of North American campers modified their camping habits in 2020, according to the KOA 2021 North American Camping Report, and RV ownership is increasing in both the United States and Canada. In the United States, the proportion of campers who tented for the first time in 2020 was five times higher than in 2019.

The increasing practice of off-grid living has created a significant opportunity for the outdoor sector. It has also inspired innovative portable solutions for campers seeking an outdoor experience with the comforts and conveniences of power. A portable generator is an essential tool to live life on the road or off the grid. The r RV also comes equipped with a portable generator. Portable generators being mobile can also be added to a van or bus conversion. The portable generator can be installed in a camping vehicle with a separate fuel supply or simply connect to the vehicle’s combustible engine. Companies such as Cummins Inc. 

manufacture several exceptionally quiet portable generators, such as the Cummins Onan P4500i Power Inverter. They are intended for camping and living on the road, with a remote starter and a 3.4-gallon tank that can operate for 18 hours at 25% capacity. It is roughly as loud as a tiny electric fan at 52 dB. The convenience of camping and off-grid living has increased due to the mobility nature of portable generators According to Outdoorsy, an RV rental company, first-time renters accounted for 90% of 2020 bookings, while millennial RV bookings climbed by 70% in comparison to 2019.

This tendency is projected to continue, propelling the camping and caravanning sector. Hence, the growing trend of camping and caravanning is expected to continue propelling the market growth of portable generator market revenue in the coming years.

The Global Portable Generator Market Industry experiences a notable surge in demand for backup power solutions, primarily driven by increasing reliance on electricity in residential and commercial sectors. As power outages become more frequent, consumers seek reliable alternatives to maintain essential services. In 2024, the market is projected to reach 2.44 USD Billion, reflecting a growing awareness of the need for uninterrupted power supply. This trend is particularly evident in regions prone to natural disasters, where portable generators serve as crucial lifelines during emergencies. The industry's growth is likely to continue as consumers prioritize energy security.

Major market players are spending a lot of money on R&D to increase their product lines, which will help the portable generator market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the portable industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies adopted by manufacturers in the portable generator industry to benefit clients and expand the portable generator market sector is to manufacture locally to reduce operating costs. In recent years, portable generators have provided increasing convenience in power supply with some of the most significant benefits.

Generac Power Systems is a prominent provider of innovative power grid software solutions, backup and prime power systems for residential and industrial applications, solar + battery storage solutions, virtual power plant platforms, and engine- and battery-powered tools and equipment. Deep Sea Electronics Limited, an innovative controls designer and manufacturer, was bought by Generac Holdings Inc. in June 2021. Deep Sea Electronics offers a wide range of controller devices that provide adaptable solutions for a variety of applications such as generators, automated transfer switches, battery charging, and off-highway vehicles.

Powermate 4500-Watt Dual Fuel Portable Generator and Powermate 7500-Watt Dual Fuel Portable Generator are now available from Generac Power Systems Inc.

Honda Motor Corporation is also a world-renowned manufacturer of high-quality automobiles and portable generators. Honda has an exceptional reputation and is among the most renowned brands in the world as a result of its well-tested, high-quality goods. Honda generators have maintained a leadership position for decades thanks to the company's emphasis on innovation, quality, and R&D. Honda generators have become renowned for their versatility in settings such as the camping, the workplace, the racetrack infield, and the stadium parking lot.

Because of Honda's well-known dependability, the company's generators are recognized as the best power backup equipment for both companies and families. The units are especially well-known for their exceptional fuel economy and smooth, silent operation. Honda announced the Honda My Generator Bluetooth App in September 2019, allowing users to start, stop, and adjust vital operations of Honda portable generators via Bluetooth interaction on a mobile phone.