Portable Inverter Generators Market Poised for Exponential Growth, Expected to Reach $3.5 Billion by 2033

The Portable Inverter Generators Market is capturing a valuation of US$ 1.9 billion in 2023 and is estimated to reach US$ 3.5 billion by 2033. The market is projected to have a CAGR of 6.3% during the forecast period.

Which Industries are Growing the Global Market Revenue?

Industries such as construction, residential, industrial, and events are rapidly growing the market revenue. The demand for portable inverter generators is continuously rising due to the lack of power in rural and remote areas. These portable inverter generators are easy to carry, versatile, and cost-effective.

The following key industries are generating huge revenue in the market are:

• Construction: The demand for portable inverter generators is rising in construction sites to access grid power for construction tools & equipment. The growing construction activities in remote or power-cut areas drive market growth.
• Residential:The residential sector dominates the global market by collecting huge revenue. Homeowners are increasingly adopting portable inverter generators for power source backup in off-grid areas.
• Outdoor Recreation: Portable inverter generators are widely used for outdoor activities such as tailgating, camping, boating, etc. These activities occur during picnics, family vacations, and events, rapidly raising the demand for portable inverter generators.
• Emergency Response:Power outages in emergencies are increasing the adoption of portable inverter generators. These generators supply sufficient and prime power sources during emergencies.
• Commercial:Small businesses, offices, events, and kitty parties are increasing the demand for portable, sufficient, and reliable power sources. These activities in the commercial sector are expanding huge market revenue.

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Key Takeaways:

• The portable inverter generators market is registering a CAGR of 6.3% with a valuation of US$ 3.5 billion by 2033.
• Germany is estimated to capture a share of 6.2% of the global market during the forecast period.
• The United States is a leading country estimated to expand the global market by registering a share of 20.8% during the forecast period.
• The United Kingdom is a significant country that is anticipated to collect a share of 4.5% by 2033.
• Australia is capturing a share of 0.8% in the global market during the forecast period.
• Historically, the market secured a valuation of US$ 1.8 billion in 2022.

Recent Developments in the Global Market are:

• In 2020, Generac announced its acquisition with Neurio Technology. This acquisition expanded the business by providing portable inverter generators with an artificial technology system.
• In 2020, Champion announced its new launch, 2000 Watt Dual Fuel Inverter Generator. These generators run on gasoline, providing consumers with a flexible, reliable, and convenient experience.
• In 2021, WEN launched its new generator, 56235i Super Quiet. It is lightweight, more compact, has low noise, and delivers superpower.
• In 2021, Honda announced its new model EU220iQ. This new model of generator provides a better ventilation system and safety. The company also researches battery improvement to increase the efficiency of generators by investing in research and development activities.

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