With the emergence and long-term Impact of COVID-19, Global Portable Inverter Generators Market to reach USD XXX Million by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Portable Inverter Generators Market points towards a potential rise to USD XXX Million by 2030. Portable inverter generators are compact and lightweight power generators that use advanced inverter technology to produce high-quality and stable electricity. Inverter generators differ from traditional generators in the way they generate electrical power. These generators use advanced electronics to convert the raw power produced by the generator into a clean and stable power supply. This makes them suitable for powering sensitive electronics like laptops, smartphones, and other devices that require a stable power source.
The growing need for convenient power solutions has resulted in the widespread acceptance of devices capable of generating electricity based on individual requirements. Sales of gasoline portable inverter generators are anticipated to witness a significant boost in the projected timeframe. Also, developed nations are grappling with a surge in power mismanagement, while developing countries are facing hurdles in their electricity distribution networks. These factors have led to an imbalanced global power distribution system, fueling the demand for portable inverter generators. The desire for a dependable power supply is on the rise as consumers seek alternative sources of electricity backup during power failure.
Geographically, the global Portable Inverter Generators market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific dominated the market in 2022 owing to infrastructure growth, rising power demand, expanding manufacturing facilities, and increased commercial office spaces, the country experiences a higher demand for portable generators. The Indian government has allocated INR 3 trillion (USD 35.98 billion) for the MUDRA scheme, which provides micro-units with access to INR 10 lakhs and an additional INR 3,794 crore (455.09 million) for MSMEs. The funds are intended for credit, capital support, interest subsidies, and the promotion of innovative initiatives.
North America is expected to grow significantly over the forecast period, owing to the rise in severe weather-related disasters causing prolonged power outages driving the adoption of these products. Increased investments in backup power solutions and rising consumer awareness contribute to the favorable industry prospects.
The global Portable Inverter Generators market is highly competitive owing to the presence of several key players such as Atlas Copco AB Himoinsa Briggs & Stratton Corporation Cummins Inc. Eaton Corporation Caterpillar Inc. Siemens AG Wacker Neuson SE Generac Holdings Inc. Kohler Co., and others.
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Key findings of the study suggest:
- Global Portable Inverter Generators Market is anticipated to grow with a healthy growth rate of more than XXX% over the forecast period 2023-2030.
- In the End User segment, Commercial emerged out as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth owing to infrastructure growth, rising power demand, expanding manufacturing facilities, and increased commercial office spaces, the country experiences a higher demand for portable generators.
- North America is expected to grow at higher rate followed by Europe during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
By End User:
- Residential
- Commercial
- Industrial
By Application:
- Emergency
- Prime/Continuous
- Mining
- Construction
- Painting
By Power:
- Below 5 kW
- 5-10 kW
- 10-20 kW
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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