Portable Inverter Generator Market: Overview
Increasing need for portable power has driven the world towards adopting devices that can generate electricity at the user’s convenience. Consumers, particularly homeowners, around the globe are purchasing portable inverter generators to enable themselves with an ideal power source for moving around a fixed physical space such as living room, cafeteria or garden. Rising occurrence of power outages has also propelled the demand for portable inverter generators. With power grids in developed as well developing countries incurring a stand still due to circuit failures, companies and individuals are suffering from huge losses, which are collectively summing up to millions of dollars. Regularized power supply continues to remain a challenge in underdeveloped parts of the world, and these countries are emerging to become the strongest consumer base for portable inverter generators. In such places, fuels such as diesel and gasoline are easy available, while the access to proper electricity supply remains nascent. Manufacturers of portable inverter generators are actively focusing on tapping such markets for catering to the power needs of the consumers.
In addition to the growing instability in the global power distribution network, a steadfast proliferation of electronic devices in consumer lifestyles is also driving the demand for portable inverter generators. For outdoor purposes, lack of electricity access is now being overstepped as a challenge as portable inverter generators are being used by campers and adventurists across the globe. However, the key downside towards the growing adoption of portable inverter generators is the use of fossil fuels in generation of raw electricity. Currently, diesel and gasoline are the key fuels used for powering up portable inverter generators, and overconsumption of these fuels is spiking the environmental imprint of these devices. With more portable inverter generators being sold every year, the global consumption of such limited fossil fuels has surged, creating a global environmental distress. As a result, manufacturers are being supervised with respect to their production capacities, and more R&D work is being commissioned to develop portable inverter generators that can run of biodegradable fuels such as biogas.
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According to the recently published report by Fact.MR, the global market for portable inverter generators is expected to expand robustly at a CAGR of 9.9% during the forecast period. The study projects that by the end of 2026, more than 3.3 Bn units of portable inverter generators will be sold globally. A regional analysis developed in the report further reveals that North America will represent the largest market for portable inverter generators through 2026.
High Demand for Gasoline Portable Invertor Generators with 1000-2000 W Power Capacity
The report has analyzed the global portable inverter generators market on the basis of the fuels used and the power capacity. In terms of sales, more units of gasoline portable inverter generators are expected to be sold globally during the forecast period. Through 2026, diesel portable inverter generators will register fastest growth at a CAGR of 11.1%. With respect to the power capacity, 2000-3000 watt and 3000-4000 watt segments will register fastest growth at a CAGR of 10.7%, while over 1 Bn portable inverter generators with 1000-2000 watt power capacity will be sold in the global market by the end of 2026.
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The report has profiled leading manufacturers of portable inverter generators, and these companies are expected to remain active in the expansion of the global portable inverter generators market through 2026. Honda Motor Co., Ltd., Yamaha Motor Co., Ltd., Generac Holdings Inc., Champion Power Equipment, Inc., Hyundai Motor Company, Toshiba Corporation, Wuxi Kipor Power Co. Ltd., Briggs & Stratton Corporation, Lifan Industry (Group) Co., Ltd., Ryobi Limited, Subaru Corporation, Sciencesoft USA Corporation, Siemens Healthineers, Toshiba Medical Systems Corporation, and Xinapse Systems Ltd. are observed as the key companies manufacturing and supplying portable inverter generators across the globe.
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Portable Inverter Generator Market Forecast And Growth 2017-2026
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