Portable Inverter Generators Market Size By Power Rating (1 kVA, 1 kVA - 2 kVA, > 2 kVA - 3 kVA, > 3 kVA - 4 kVA, > 4 kVA), By Power Source (Diesel, Gasoline), By Application (Residential, Outdoor Sports, Construction), COVID-19 Impact Analysis, Regional

Portable Inverter Generators Market Size By Power Rating (1 kVA, 1 kVA - 2 kVA, > 2 kVA - 3 kVA, > 3 kVA - 4 kVA, > 4 kVA), By Power Source (Diesel, Gasoline), By Application (Residential, Outdoor Sports, Construction), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2028

The global portable inverter generators market share is set to grow at a considerable pace through 2028 on the back of the ever-growing demand for energy across the world. According to a recent IEA report a 5% increase in electricity demand was recorded for 2021, with approximately 50% of it being fossil fuels.

While renewables adoption is expanding at a rapid rate, the speed with which it is growing in not proving adequate enough to address the strong rebound in the world’s electricity demand, especially for regions that fall off the grid. This has resulted in a sharp rise in the utilization of fossil fuel-based energy generation methods, particularly portable inverter generators in remote areas.

Overall, the portable inverter generators industry is classified in terms of power rating, power source, application, and regional landscape.

With respect to power ratings, the market landscape is categorized into > 4 kVA, > 3 kVA – 4 kVA, > 2 kVA – 3 kVA, 1 kVA – 2 kVA, and 1 kVA.

Among these, the > 2 kVA – 3 kVA subsegment is slated to report considerable growth fueled by growing consumer dependency on electricity backup solutions. These solutions help sustain everyday operations and are a major factor behind the segment experiencing elevated product installations.

Meanwhile, the > 3 kVA – 4 kVA segment is also earmarked to see notable growth impetus. Product characteristics such as light weight, compactness, and operational suitability are the key features that are encouraging the utilization of these units.

Based on power source, the industry is bifurcated into gasoline-powered inverter generators, and diesel-powered inverter generators. Of the two, the diesel segment is projected to witness growth fueled by the rapidly increasing demand for small and less power generator sets across key application avenues.

Speaking of applications, the market has been divided in terms of residential, outdoor sports, and construction. Of the three, the outdoor sports application segment is forecast to grow at a remunerative rate of approximately 8.2% by 2028.

From a regional stand-point, the Africa portable inverter generators market is set to create a robust revenue stream for the global market. The continent’s aging electricity grid infrastructure, coupled with the deteriorating grid resiliency, is expected to stimulate the industry’s business prospects over the coming years.

Meanwhile, the Latin America portable inverter generators sector is also expected to showcase a distinguished amount of growth through the analysis timeframe. Increasing proliferation of commercial, construction, and residential establishments in the region is projected to favor the business scenario in the region.