As per Fact.MR, a competitive intelligence and market research firm, the global portable inverter generator market is anticipated to reach a valuation of US$ 3,648.6 million in 2024 and grow at a CAGR of 9.4% across the forecast period (2024 to 2034).
Rising Occurrence of Power Outages in Emerging Countries is Driving the Market, States Fact.MR
As per Fact.MR, a competitive intelligence and market research firm, the global portable inverter generator market is anticipated to reach a valuation of US$ 3,648.6 million in 2024 and grow at a CAGR of 9.4% across the forecast period (2024 to 2034).
The need for uninterrupted power supply is on the rise at a rapid rate in the underdeveloped nations. According to the International Journal of Advancements in Research & Technology, India experiences a daily power failure of 30,000 MW. Moreover, the nation is short of approximately 80,000 million units of electricity annually. This scenario is expected to repeat in the coming years, thus driving the demand for portable inverter generators.
Apart from that, portable inverter generators come with many superior features, including high-quality outputs, less vibration and noise, compared to the traditional generators. Therefore, their demand is most likely to increase in the domestic market where the transmission systems are not completely developed and cannot carry the additional load of power.
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Key Takeaways from Market Study
Global portable inverter generator market is expected to expand at 9.4% CAGR and reach US$ 8,959.8 million by 2034
The market generated an absolute $ opportunity of US$ 5,311.2 million with a CAGR of 9.4% during 2024 to 2034
North America is a leading region and is anticipated to capture a market share of 33.1% by 2034
Dominant market players are Atlas Copco, Briggs & Stratton, Caterpillar, Cummins, Inc., DuroMax Power Equipment, Ford Generators, Generac, Honda
Power Equipment, Honeywell International Inc., Hyundai, John Deere, Kohler Co., Lincon, Toshiba Corporation, and Yamaha.
Electric under Type are anticipated to expand at a CAGR of 14.8% generating an absolute $ opportunity of US$ 698.3 million during 2024-2034.
North America and East Asia will collectively develop an absolute $ opportunity of US$ 2,925.8 million
"Implementation of strong environmental legislations, for instance, Environmental Protection Act in the U.K. will fuel the market" a Fact.MR analyst stated.
Leading Players Driving Innovation in the Portable Inverter Generator Market
Key players in the Portable inverter generator market are Atlas Copco, Briggs & Stratton, Caterpillar, Cummins, Inc., DuroMax Power Equipment, Ford Generators, Generac, Honda Power Equipment, Honeywell International Inc., Hyundai, John Deere, Kohler Co., Lincon, Toshiba Corporation, and Yamaha.
Market Development
Global portable inverter generator market leading players are investing in expansion plans, technological innovations, product development, strategic collaborations and alliances, and regulatory requirements to gain notable share in the market.
For instance, on May 2024, Italian firm Trime has planned to launch a range of diesel-powered generators. With an output range of 6kVA to 670kVA, the new series includes the latest generation diesel engines from brands including Yanmar, FPT Iveco, Perkins, and Kohler Stage V. The generators, which can be purchased in single and three phase outputs, offer a comprehensive range of power outputs to suit an infinite number of applications, says the company.
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Portable Inverter Generator Industry News:
In September 2024, BLUETTI released a 62-pound portable power station with a power output of 2,400 watts, surge power of 3,600 watts, and a power capacity of 2,048 watt-hours.
In January 2022, Honda confirmed plans to start marketing new EU32i portable generator featuring a newly developed dedicated engine (with a maximum output of 3.2kVA). Honda also made the announcement that sales in the European market would start in March 2022 with subsequent expansion of sales to other markets worldwide.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global portable inverter generator market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights on the basis of the Type (Diesel, Gasoline, Propane, and Electric), Power Output (Up to 1 kW, 1 - 3 kW, 3 - 5 kW, and Above 5 kW), Use Case (Residential Power Backup, Commercial Backup, and Industrial Backup), Sales Channel (Electrical Equipment Retailers, Big Box Retailers, Company Online Channels, and eCommerce Website), across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and Middle East & Africa).
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