The latest market report published by Credence Research, Inc. “Global Portable Inverter Generators Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global portable inverter generators market has witnessed steady growth in recent years and is expected to continue growing at a CAGR of 6.50% between 2023 and 2030. The market was valued at USD 2.2 billion in 2022 and is expected to reach USD 3.4 billion in 2030.
The global portable inverter generators market is segmented by power rating, power source, application, and region. The 1kVA to 2kVA category is the most popular power rating segment, while gasoline is the primary power source segment. The construction sector is the most common application, with North America leading the market growth.
The market for portable inverter generators is expected to expand significantly over the forecast period due to their low cost and adaptable functionality, making them ideal for various user requirements. These devices have evolved from being just backup power sources to becoming essential for a range of applications. The widespread use of portable inverter generators in residential, light-duty commercial, construction sites, and recreational activities will drive market expansion.
The North American market for portable inverter generators is predicted to grow at the highest CAGR. The region is experiencing decreasing grid infrastructure and a growing need for consistent and reliable power, which will drive corporate growth. The rise in frequency and severity of weather-related disasters, leading to prolonged power outages, will further fuel the adoption of portable inverter generators.
China Portable Inverter Generators Market Drivers refer to the key factors that propel the growth and development of the portable inverter generator market in China. This thriving market is driven by several influential aspects, including rising demand for uninterrupted power supply in various sectors such as construction, manufacturing, and residential applications. The increasing frequency of power outages due to natural calamities like typhoons and earthquakes has further intensified this need for reliable backup power sources. Additionally, with China’s rapid urbanization and industrialization, there is a growing inclination towards clean energy solutions that reduce carbon emissions. Portable inverter generators offer an eco-friendly alternative to traditional generators by utilizing advanced technology to produce stable and efficient electricity without compromising on performance.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Portable Inverter Generators Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- Major nations in each region with their import/export statistics
- The global Portable Inverter Generators Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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