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Portable Inverter Generator Market To Witness Stellar Growth Rate In The Next 10 Years
Portable inverter generators are used as alternative to produce DC power and then convert it into AC electricity. Portable inverter generators are smaller, lighter and gives a more stable power stream alike to power lines. They are commonly used by households and residents when there is requirement of power source in physical space such as cafeteria, garden or living room. Portable inverter market is projected to grow in the coming years, in 2018 market size of the portable inverter was XX million and in 2026 is expected to reach at XX million with the CAGR of XX%.
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Residents are purchasing portable inverter generators to cater power needs in open spaces such as living rooms, gardens and cafeterias. Also, residents consider portable inverter generators are the perfect solution on power outages. Moreover, sometimes the electrical circuit failures cause cut down of the power grids of whole city, portable inverter generators are emerging as suitable power sources. Thus these factors are driving the popularity of portable inverter generators.
However, rising use of fossil fuels for producing the raw electricity is the key restraining factor to the growing adoption of portable inverter generators.
Lifan Industry (Group) Co., Ltd., Honda Motor Co., Ltd., Champion Power Equipment, Inc., Briggs & Stratton Corporation, Hyundai Motor Company, Yamaha Motor Co., Ltd., Toshiba Corporation, Wuxi Kipor Power Co. Ltd., Generac Holdings Inc., Ryobi Limited and other are some of the prominent players in the portable inverter market.
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The portable inverter market can be segmented into power capacity, fuel used and regions. Based on power capacity, the market is segmented into <1000 watt, 1000-2000 watt, 2000-3000 watt, 3000-4000 watt and >4000 watt. In the coming years it is expected that portable inverter generators which are equipped with power capacity of 1000-2000 watts will be sold more.
Further, on the basis of fuel used the portable inverter generator market is segmented into gasoline and diesel. Based on the region the market is divided into five regions and is projected that in North America, the US dominate the portable inverter generators market.
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