June 30, 2022 14:00 ET | Source: FACT.MR FACT.MR

United States, Rockville, MD, June 30, 2022 (GLOBE NEWSWIRE) -- The global portable inverter generator market size is projected to reach US$ 7.7 Bn by 2032, exhibiting a CAGR of 9.7% during the forecast period from 2022 to 2032, predicts Fact.MR. The rising occurrence of power outages, especially in emerging economies is anticipated to drive the market over the forthcoming years.

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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Similarly, increasing usage of speed control mechanisms and sound damping materials in portable inverter generators is anticipated to drive their demand among customers requiring equipment with lower noise levels.

Regionally, North America will continue to dominate the global portable inverter generators market during the forecast period, owing to the rising adoption of portable inverter generators across various industries, availability of advanced products, and strong presence of leading market players. Fact, MR predicts North America portable inverter generator market to reach a valuation of US$ 3.5 Bn by 2032.

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According to Fact.MR, the top 5 market players are anticipated to hold about 25% of the global market share in the upcoming years.

Key players operating in the portable inverter generator market are aiming to expand their manufacturing units in developing countries worldwide. Meanwhile, some of the other players are focusing on strengthening their global and regional distribution networks, as well as introducing state-of-the-art products to attract more customers and increase sales.

Key Players in the Portable Inverter Generator Market Include:

More Valuable Insights on Portable Inverter Generator Market

Fact.MR provides an unbiased analysis of the portable inverter generator market, presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global portable inverter generator market with a detailed segmentation on the basis of:

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Key Questions Covered in Portable Inverter Generator Market Report

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