The global market for Portable Inverter Generator industry was valued at $1426.61 million in 2016, and is estimated to grow at a CAGR of 10.20% to reach $2554.62 million by 2022. Increase in need of power backup facility, growth in demand for low-cost and diesel-fueled generators, increase in preference for natural gas-fueled generators, and rise in awareness of Portable Inverter Generator drive the market. However, the Portable Inverter Generator market growth is restrained due to limited duration of power supply and stringent environmental regulations toward emission of hazardous gases from diesel generators.
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The power output segment includes Under 1000 Watt, 1000-2000 Watt, 2000-3000 Watt, 3000-4000 Watt power generators. Increase in adoption of multipurpose power generation systems is anticipated to fuel the Portable Inverter Generator market growth. The 2-3kW Portable Inverter Generator segment is projected to grow at the highest CAGR, owing to increase in awareness of in-house power backup and rise in need for portable powering systems in outdoor recreational activity. The generators that deliver more than 4kW power are extensively used in industrial sector due to need for higher power supply to run machines and industrial tools, which in turn is expected to drive the Portable Inverter Generator market.
Asia-Pacific is the leading regional market, in terms of growth rate, for Portable Inverter Generator, owing to rapid industrialization in developing countries such as China, Japan, South Korea, and India. Moreover, rapid industrialization in Latin America and Gulf countries is expected to fuel the demand for Portable Inverter Generator, as these generators are utilized in various construction activities, which include cutting, drilling, lifting, and many others. Easy availability of fossil fuel in Middle East region is one of the key growth factor for Portable Inverter Generator in the region.
Key players are mainly from North America, which profiled in the report are Honda Power Equipment, Yamaha, Generac, Champion, Hyundai, Powermate, Westinghouse, Kipor, Briggs&Stratton ,Lifan.
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