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With growing proliferation of electronic devices, consumers around the world are facing challenges in procuring suitable power sources. As the global automotive industry and manufacturing sector adopts electrification, complexities in global electricity distribution network prevail. In such scenario, consumers, especially homeowners, are buying portable inverter generators to cater to their power needs in open spaces such as gardens, living rooms and cafeterias. Moreover, the demand for portable inverter generators is gaining traction for being the ideal solution on power outages. While electrical circuit failures are bring down the power grids of an entire city, portable inverter generators are emerging to be viewed as the most valuable commodity in an urban marketplace. Proactive lifestyles of people in several countries has driven the use of portable inverter generators for their outdoor activities such as camping.
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On the other hand, remote areas and rural environments in developing countries are troubled with diminished accessibility to proper electricity supply. This has spurred the demand for portable inverter generators, wherein several households across the globe are being run by such devices. Despite these advantages, there remains to be a key concern impeding the growth of the global portable inverter generators market. Manufacturers are facing flak from environmental protection bodies and governments for developing devices that are adding to the global fossil fuel consumption. With diesel and gasoline being the two key fuels used in powering up portable inverter generators, these devices are becoming an environmental issue for their carbon imprints and volatile emissions.
A new report by Fact.MR has addressed such factors and weighed their impact in terms of influencing the growth of the global portable inverter generators market for the assessment period, 2017-2026. The report projects that by the end of 2026, over 3.3 Bn portable inverter generators will be sold across the globe. The report further reveals that the global portable inverter generators market will expand robustly at 9.9% CAGR during the forecast period. The report also provides value-based market size estimations, along with volume-based market size forecasting for the assessment period.
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5 Key Insights from the Report
- In 2017 and beyond, North America will remain the largest market for portable inverter generators, with growing consumer base for powering outdoor electricity applications.
- The demand for portable inverter generators in Europe will gain traction towards 2026-end, while the Asia-Pacific excluding Japan (APEJ) region will spearhead the global portable inverter generators market with respect to manufacturing.
- In terms of fuel, more than 1 Bn gasoline portable inverter generators have been sold in the global market by the end of 2017.
- Demand for diesel portable inverter generators is expected to pick up pace by registering 11.1% CAGR over the forecast period.
- Throughout the forecast period, a majority of portable inverter generators sold in the global market will equipped with a power capacity of 1000-2000 watts.
Key players identified by the report include
- 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
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