Rockville, MD , Nov. 11, 2024 (GLOBE NEWSWIRE) — According to Fact.MR, a market research and competitive intelligence provider, the global Portable Inverter Generator Market is estimated to reach a valuation of US$ 3,648.6 million in 2024 and is expected to grow at a CAGR of 9.4% during the forecast period of (2024 to 2034).

The demand for constant power supply is increasing at a fast pace in the underdeveloped countries. As per the International Journal of Advancements in Research & Technology, India faces a daily power outage of 30,000 MW. Also, the country lacks about 80,000 million units of electricity every year. This trend is likely to continue in the upcoming years, thereby propelling the demand for portable inverter generators.

Besides, portable inverter generators have numerous advanced features, such as high-quality outputs, minimal vibration and less noise, as compared to the conventional generators. Hence, their demand is likely to grow in the residential sector where the transmission systems are not fully upgraded and are unable to sustain the additional power burden.

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Key Takeaways from Market Study:

• The global portable inverter generator market is projected to grow at 4% CAGR and reach US$ 8,959.8 million by 2034
• The market created an absolute $ opportunity of US$ 5,311.2 million growing at a CAGR of 4% between 2024 to 2034
• North America is a prominent region that is estimated to hold a market share of 1% in 2034
• Predominating market players include 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 estimated to grow at a CAGR of 8% creating an absolute $ opportunity of US$ 698.3 million between 2024 and 2034.
• North America and East Asia are expected to create an absolute $ opportunity of US$ 2,925.8 million collectively

 “Implementation of stringent environmental regulations, such as the Environmental Protection Act in the U.K. will drive the market” says a Fact.MR analyst.

Leading Players Driving Innovation in the Portable Inverter Generator Market:

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; Yamaha; Other Prominent Players

Market Development:

Global portable inverter generator market key players are focusing on expansion activities, technological advancement, product innovations, strategic partnerships and collaborations, and regulatory compliances to acquire significant share in the industry.

For example, on May 2024, Italian company Trime has announced plans to introduce a selection of generators that run on diesel. With a power range of 6kVA to 670kVA, the new line comprises the newest diesel engines from manufacturers such as Yanmar, FPT Iveco, Perkins, and Kohler Stage V. The generators, which are available in single and three phase outputs, provide an extensive variety of power yields to accommodate an endless number of applications, according to the manufacturer.

Portable Inverter Generator Market Industry News:

• On September 2024, BLUETTI launched 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.
• On January 2022, Honda announced planned to begin sales of new EU32i portable generator equipped with a newly designed dedicated engine (with a maximum output of 3.2kVA). The company also revealed that sales would begin in the European region in March 2022, followed by expansion of sales to other regions globally.

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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).

Segmentation of Portable inverter generator Industry Research:

• By Power Grade :
  • Diesel
  • Gasoline
  • Propane
  • Electric
• By Power Output :
  • Up to 1 kW
  • 1 – 3 kW
  • 3 – 5 kW
  • Above 5 kW
• By Use Case :
  • Residential Power Backup
  • Commercial Backup
  • Industrial Backup
• By Sales Channel :
  • Electrical Equipment Retailers
  • Big Box Retailers
  • Company Online Channels
  • eCommerce Website

Checkout More Related Studies Published by Fact.MR Research: 

Generator Market: The global generator market is set to surpass a valuation of US$ 32,170.8 mn in 2022 and expected register at a CAGR of 5.5% to reach US$ 54,873.6 Mn by the end of 2032.

Portable Generators Market: The global portable power generator market is expected to be worth approximately $905.25 million by 2022. Adoption in commercial environments is expected to grow significantly, representing an opportunity worth US$50 million over the next decade.

Gas Generator Market: An electric generator is also known as genset, an alternative and consistent source that converts fuel into electrical energy. Gas generators are the most common type of generators, designed for maximum electrical power with high reliability, availability and low operating and service costs.

Large Generators Market: The global large generators market is projected to evolve at a CAGR of 5.3% over the decade, thereby increasing from its current value of US$ 4.16 billion to US$ 6.99 billion by the end of 2033.

Function Generators Market: The global function generators market is expected to hold a market value of US$ 1.53 Billion in 2022, against US$ 1.44 Billion in 2021, with a Y-o-Y growth rate of 6.25%.

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