The Portable Inverter Generators Market is securing a valuation of USD 1.9 billion in 2023 and is predicted to reach USD 3.5 billion by 2033. The market is capturing a CAGR of 6.3% during the forecast period.
The various factors driving the global market include:
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Portable inverter generators are more efficient and conventional as compared to traditional generators. Due to high prices, the demand for portable inverter generators reduced. As portable inverter generators provide limited power compared to conventional generators.
The portable inverter generators have low wattage output, which is unsuitable for large appliances and may reduce market growth. On the other hand, lack of fuel supply and difficulty accessing remote areas may also limit the market growth.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 6.3% |
| Market Valuation (2023) | USD 1.9 billion |
| Market Valuation (2033) | USD 3.5 billion |
The market was valued at USD 1.5 billion in 2018 and reached USD 1.8 billion in 2022. The market has grown moderately in recent years due to increasing demand for power.
The rising demand for reliable power supply and the growing popularity of outdoor activities fuel the market size. People are looking for an electricity cutoff solution and a better power backup source. This is surging the demand for portable inverter generators.
The growing advanced technologies are innovating advanced portable inverter generators to attract consumers by satisfying their needs. These portable battery generators continue to provide enough power supply in power-cut areas.
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Based on power sources, gasoline dominates the global market by securing a share of 58% during the forecast period. The gasoline portable inverter generators are popularly growing due to their widespread uses and affordability.
Consumers prefer this inverter to reduce carbon footprints and concerns about air pollution. The gasoline portable inverter generators are more convenient, supply efficient power, and are eco-friendly.
The gasoline portable inverter generators offer better convenience and lower operating costs than alternative generators. These generators benefit from emergency power backup in hospitals, businesses, and camping trips. Due to several crucial factors, the consumer's prior choice is gasoline portable inverter generators.
Based on application, the residential sector is leading the global market by capturing a share of 43% during the forecast period. The residential sector is a prominent user of these portable inverter generators.
These are widely used in power outages and emergency backups. Consumers are increasing the demand for portable inverter generators for RVing, camping, housing, and camping purposes.
Other sectors, such as commercial and industrial, are also securing a huge market revenue. The rising government regulations, advanced technologies, economic conditions, and population are increasing the demand for portable inverter generators.
These sectors are growing due to current demand, preferences, trends, and other factors. Overall, the residential sector is leading in the global portable inverter generators market.
| Country | United States |
|---|---|
| Projected Share | 20.8% |
| Country | Germany |
|---|---|
| Projected Share | 6.2% |
| Country | Japan |
|---|---|
| Projected Share | 5% |
| Country | Australia |
|---|---|
| Projected Share | 0.8% |
| Country | China |
|---|---|
| Projected Share | 7.2% |
| Country | India |
|---|---|
| Projected Share | 7.7% |
| Country | United Kingdom |
|---|---|
| Projected Share | 4.5% |
Growing Industrialization Upsurge the United States Market
The United States is estimated to dominate the global market by securing a maximum share of 20.8% by 2033. The growing popularity of these generators is due to their fuel efficiency, low noise, and better performance. These generators are generally used for camping, backup power, and in power-cut remote areas.
The key players in the United States market include Yamaha Motor Corporation, Generac Holding Inc, Honda Power Equipment, and Briggs & Stratton Corporation. These companies are developing advanced technology portable inverter generators, adding smart features to the Internet of Things (IoT).
The rising environmental impact is increasing the adoption of sustainable energy sources. These factors are expected to uplift the United States portable inverter generator market.
Germany is one of the key players in the global market, capturing a share of 6.2% by 2033. The nation strongly demands portable inverter generators due to stringent regulations and a focus on clean energy sources. The rising demand for off-grid power, emergency backup, and outdoor activities drives Germany's portable inverter generator market.
Germany is focusing on clean and renewable sources of energy. The nation's target is to cover 80% of electricity produced by renewable energy by 2050. The portable inverter generators lower harmful air in the environment and promote sustainability. The popularity of portable inverter generators is increasing among consumers due to its several benefits.
Japan is one of the significant countries that secures a share of 5% in the global market. Japan prefers to adopt portable inverter generators to rely on power backup. The householder in the nation is investing their amount to increase the adoption of these generators during power cuts.
Portable inverter generators are growing rapidly due to their clean, lightweight, cost-effective options. These generators are fuel efficient and promote sustainability which consumers can reduce their electricity bills.
The key manufacturers are introducing innovative advanced portable inverter generators to provide emergency backup in houses and outdoor recreational activities.
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Manufacturers expand the global market by implementing several strategies are:
These are a few marketing strategies manufacturers implemented to expand the market successfully.
The present prominent players highly fragment the market. These players are focusing on creating new innovating products that are easy to use, reliable, reduce pollution, and enhance sustainability.
The prominent players are adopting several market tactics by investing huge amounts in research and development activities.
These marketing tactics include mergers, collaborations, acquisitions, partnerships, agreements, and product launches. The prominent players in the global portable inverter generators market are:
Other Essential Players in the Market are:
Recent Developments in the Global Market are:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Power Rating, Power Source, Application, Region |
| Key Companies Profiled | Honda Power Equipment WEN Products; Firman Power Equipment; Briggs & Stratton; Ryobi; Duromax Power Equipment; Champion Power Equipment; WEN Products; Generac Power Systems; Westinghouse Electric Company; Yamaha Motor Co. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market in 2023 is valued at USD 1.9 billion.
Japan is expected to hold a share of 5% of the global market in 2033.
The market will register an 6.3% CAGR through 2033.
The market will reach USD 3.5 billion by 2033.
Germany is poised to hold a share of 6.2% of the global market in 2033.
The market is valued at USD 1.9 billion in 2023.
Ryobi, Briggs & Stratton, and Honda Power Equipment WEN Products are key players.
Gasoline segment dominate the global market with a share of 58%.
Germany is expected to register a growth of 6.2% through 2033.
The United States, India, and China are leading the market.
1. Executive Summary | Portable Inverter Generators Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Power Rating 5.1. 1 kVA 5.2. 1kVA - 2 kVA 5.3. >2 kVA - 3 kVA 5.4. > 3kVA - 4 kVA 5.5. > 4kVA 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Power Source 6.1. Gasoline 6.2. Diesel 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Residential 7.2. Outdoor Sports 7.3. Construction 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Briggs & Stratton Corporation 16.2. Kohler 16.3. Yamaha Motor Co. Ltd 16.4. Caterpillar 16.5. Atlas Copco 16.6. Honeywell International Inc. 16.7. Mitsubishi Heavy Industries Ltd. 16.8. Wacker Neuson SE 16.9. DuroMax Power Equipment 16.10. Generac Holdings Inc. 17. Assumptions & Acronyms Used 18. Research Methodology
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Portable Inverter Generators Market
