The market for portable inverter generators is likely to increase
NEWARK, Delaware, April 25, 2022 (GLOBE NEWSWIRE) — In 2021, the The Portable Inverter Generators Market was valued at over USD 1.9 billion and is projected to grow at a CAGR of 6.9% from 2022 to 2032.
theglobal industry annual installationis expected to exceed 3.7 million units. The growthportable power demandpushed the world to embraceportable inverter generators that can generate electricity at leisure. During the forecast period, moregasoline portable inverter generators should be sold.
With the ever-changing demands of individual consumers on energy use and the increasing proliferation of electronic devices,portable inverter generatorsfind new utility applications. However, as the global power grid strives to be sustainable, power outages cost millions of dollars in lost revenue.
A List of Key Players Covered in the Portable Inverter Generators Market are:
- Briggs & Stratton Company
- Yamaha Motor Co.Ltd
- Honda motor co. ltd
- Honeywell International Inc.
- Mitsubishi Heavy Industries Ltd.
- Wacker Neuson SE
- DuroMax Electrical Equipment
- Deere & Company and Generac Holdings Inc.
Compared totraditional generatorsincorporatinginverter technology in generatorscontributes to higher quality maximum power output with minimum power surges. themicroprocessor in inverter generatorscan calculate the amount of energy consumed, then control and regulate the speed of the generator to optimize theelectrical consumption of equipment.
Developed countries are seeing an increase in the abuse of available power. Developing countries are struggling to reduce the challenges of their electricity distribution network, creating a disparity in theglobal power distribution network and increasingdemand for portable inverter generators.
Key points to remember:
- In 2021, the market forPortable inverter generators from 1 kVA to 2 kVAwill exceed $915 million. Growing consumer preference for units with a smaller surface footprint and greater portability will help thesegenerators maintain dominance inthe portable inverter generator market .
- The gasoline segment is expected to grow at a CAGR of 7% through 2022-2032. Due to its low cost and portability, gasoline is the mostpopular fuel for inverter generators .
- In addition to its unlimited availability, gasoline is preferred inair-cooled standby generators . Thanks to their user-friendly control panel,inverter generators are silent and simple to use, influencing theportable inverter generator market.
- The absence of aignition system in portable diesel powered generatorsensures low maintenance costs and low ignition risks, as well as longer shelf life.Diesel Inverter Portable Generatorscan operate in various environments and handle high power loads for long periods of time.
- North America Portable Inverter Generator Marketheld 35% of the revenue share in 2021, due to insufficient power supply and increased demand for continuous services andreliable power supply. Due to increasing commercial and construction activities, the European market is expected to grow at a CAGR of 5% by 2032.
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Cummins, Kirloskar Oil Engines Limited, Briggs & Stratton, Kohler, Generac Power Systems, Yamaha Motor Co., Honda Motor Co., Caterpillar, Atlas Copco, Honeywell International, Wacker Neuson SE, Deere & Company, Champion Power Equipment, DuroMax Power Equipment , FIRMAN Power Equipment, Westinghouse Electric Corporation, WEN Products, A-iPower, Mitsubishi Heavy Industries and HIMOINSA are among thekey players operating in the portable inverter generator market.To meet the immensemarket competition for portable inverter generatorsmajor players are leading the way in digital advancements while forming mergers and acquisitions.
Recent Developments in the Portable Inverter Generators Market:
- Cummins introduced the HQ 2800i and 2500i, which are 60% quieter.inverter generators for the leisure vehicle market,in January 2021. They are powered bygasoline and liquid propane (LP). Onan HQ 2800i and 2500i are 2.8 kW and 2.5 kW iinverter based generatorsets designed primarily for class B and truck campers.
- Honda launched the Honda My Generator Bluetooth app in September 2019, allowing users to start (electric start modelsonly), shutting down and monitoring critical Honda operationsportable generatorsvia a Bluetooth interface on a smartphone.
- Pika, a manufacturer of home energy storage systems, was acquired by Generac in May 2019. The acquisition combined Pika’s capabilities withindustrial and commercial mobile generators.
Ask the analyst:https://www.futuremarketinsights.com/ask-question/rep-gb-14336
1.1. Global Market Outlook
1.2. Summary of statistics
1.3. Key Market Features and Attributes
1.4. Analysis and recommendations
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Assessment of risks and market trends
3.1. Risk assessment
3.1.1. COVID-19 crisis and impact on demand for portable inverter generators
3.1.2. Comparative analysis of the impact of COVID-19 with the previous crisis
3.1.3. Impact on market value (US$ millions)
3.1.4. Assessment by key countries
3.1.5. Assessment by key market segments
3.1.6. Action points and recommendation for suppliers
3.2. Key trends impacting the market
3.3. Formulation and product development trends
4. Market Context and Basic Data Points
4.1. Portable Inverter Generators Market, By Key Countries
4.2. Portable Inverter Generators Market Opportunity Assessment (US$ Million)
4.2.1. Total market available
4.2.2. Usable addressable market
4.2.3. Usable accessible market
4.3. Market Scenario Forecast
4.3.1. Demand in the optimistic scenario
4.3.2. Demand in Likely Scenario
4.3.3. Demand in the conservative scenario
4.4. Investment Feasibility Analysis
4.4.1. Investing in Established Markets
18.104.22.168. Short term
4.4.2. Investing in Emerging Markets
22.214.171.124. Short term
4.5. Predictors – Relevance and Impact
4.5.1. Historical growth of major companies
4.5.2. Global Portable Inverter Generator Market Growth
4.5.3. Adoption rate of portable inverter generators, by country
4.6. Market dynamics
4.6.1. Market Drivers and Impact Assessment
4.6.2. Key Market Challenges and Impact Assessment
4.6.3. Portable Inverter Generators Market Opportunities
4.6.4. Prominent Global Market Trends and Assessing Their Impact
5. Key success factors
5.1. Manufacturers’ focus on low-penetration, high-growth markets
5.2. Bet on Segments High Incremental Opportunity
5.3. Peer benchmarking
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