Portable Inverter Generator Market

Portable Inverter Generator Market Outlook (2024 to 2034)

The global portable inverter generator market was valued at US$ 3,404.1 million in 2023 and has been forecasted to expand at a noteworthy CAGR of 9.4% to end up at US$ 8,959.8 Million by 2034. The portable inverter generator market accounts for around 19% in overall generator market.

Fuel efficiency is one of the best-known features of portable inverter generators. Due of their lower size compared to a similar generator with a traditional design, inverter generators are lighter and easier to transport wherever needed. They also take up less room when packed.

Portable inverter generator market is gaining momentum over conventional generators due to its advanced technological features, high quality outputs, minimal NV (Noise & Vibration) levels and ease of carrying it anywhere. Residential application is most addressable segment by Tier-1 manufacturers owing to high demand, it is presumed that the residential customer will continue to be dominant owing to the need of power backups.

Manufacturers are also including technologically advanced generators to their portfolio which is also expected to boost the demand for portable inverter generators during the forecast period. For instance, on June 2022, Honda Power Sports & Products introduced the all-new Honda EU3200i, the newest generator in the Honda Super Quiet EU Series. Honda EU3200i offers more power and convenience in a more portable, space-saving design. It can be used for DIY projects, home backup power, tailgating, and RVing.

In addition to this, emerging countries like China, India, Indonesia and South Korea is expected to navigate the demand curve. Whereas, economies including U.S, Germany and UK is expected to account for a notable chunk in portable inverter generator market. For instance, according to FactMR analysis the global generator market accounted for around US$ 36 billion in 2023 and the U.S. generator market accounted for about US$ 6 billion in 2023.

Report Attributes	Details
Portable inverter generator Market Size (2023A)	US$ 3,404.1 Million
Estimated Market Value (2024E)	US$ 3,648.6 Million
Forecasted Market Value (2034F)	US$ 8,959.8 Million
Global Market Growth Rate (2024 to 2034)	9.4% CAGR
East Asia Market Share (2024)	21.4%
China Market Growth Rate (2024 to 2034)	9.7% CAGR
Key Companies Profiled	Atlas Copco; Briggs & Stratton; Caterpillar; Cummins, Inc.; DuroMax Power Equipment; Ford Generators; Generac; Honda Power Equipment; Honeywell International Inc.; Hyundai; John Deere; Kohler Co.; Lincon; Toshiba Corporation; Yamaha; Other Prominent Players

Historic Analysis (2019 to 2023) and Future (2024 to 2034) Pathway Analysis for the Portable Inverter Generator market

The market for portable inverter generator grew at a growth rate of 6.7% from 2019 to 2023, and by the end of 2023, it was valued at US$ 3,404.1 million. Rapid growth in construction and infrastructure projects across the globe is a major factor for the steady increase of the market during the forecasted period.

Historical Report Attributes	Details
Market Size (2019A)	US$ 2,579.5 million
Market Size (2023A)	US$ 3,404.1 million
Historical CAGR (2019 to 2023)	6.7%
Forecasted CAGR (2024 to 2034)	9.4%

• Short Term (2024 to 2028): The primary element driving the sales of Portable inverter generators throughout this period are the increasing demand for reliable power generation solutions in industrial operations. For example, power tools of all sizes like drills, drives, compressors, and air hammers, are widely used in the construction sector. Portable generators are used primarily for new construction projects, where most of the work is conducted at night and in conditions where power grids are not accessible.
• Medium Term (2028 to 2030): Growing awareness of global warming is predicted to drive up demand for biofuel-powered portable generators throughout this time frame. Diesel fuel may be directly replaced with biofuel since it shares chemical properties with fuels derived from petroleum. Many end customers have already started to follow this trend globally, choosing biofuel generators over less environmentally friendly alternatives. For instance, on October 2023, UAE data center firm Khazna have adopted for biofuel to power its backup generators. The company is said to be using hydro treated vegetable oil (HVO), a low-emission biofuel that yields high performance without the need to replace or customize diesel gen-set.
• Long Term (2030 to 2034): The sustainable trend of portable gen-sets will further accumulate to more stringent regulations from authorities which will further improve the nature of these generators. In recent years’ regulatory bodies have mandated gen-sets to turn off when it reaches a specific emission level. For instance, on April 2023, U.S. Consumer Products Safety Commission (CPCS) proposed a safety standard for portable generators intended to tackle the CO poising from portable generators. This trend is further expected to progress during the forecast period.

On the back of the aforementioned facts, the Portable inverter generator market is anticipated to grow at a CAGR of 9.4% during the forecast period from 2024 to 2034, According to the Fact.MR, a market research and competitive intelligence provider.

Market Dynamics

What are the Factors Propelling Global Sales of Portable Inverter Generator?

“Rise in Demand for Uninterrupted Power Supply to Foster Market Growth Prospects”

Electricity represents the most integral input factor of economic development of a country, yet, many countries do not have such grid infrastructure. Unstable power supply highly affects SMEs and commercial places as well. Portable gen-sets not just make sure of stable power in case of total blackout but ensure continuous power supply, which boosts the growth of market of portable gen-set.

According to the World Bank, some 56% of the world’s population - 4.4 billion inhabitants - live in cities. This trend is expected to continue, with the urban population more than doubling its current size by 2050, at which point nearly 7 of 10 people will live in cities.?

In addition, enormous construction activities to build commercial spaces, business parks and housing societies set to spike power demand. These factors are creating a gap between production and supply of electricity which eventually provides lucrative opportunities for the growth of the market for portable generators.

“Inadequate Grid Infrastructure in Emerging Economies to Accelerate the Market Growth”

Electricity is deprived to millions of people around the world due to the non-establishment of grid infrastructure. Emerging economies are affected the most because of gigantic growth in population, the strong need for energy consumption, and weak energy infrastructure. The majority of apartment buildings, housing societies, businesses, and SMEs rely on portable generators to provide a steady power supply, which has improved the market's prognosis for portable generators.

Natural disasters including tsunamis, earthquakes, floods, bushfires, storms, hurricanes, and volcanic eruptions, among others, are driving rising demand for portable generators. Some geographies experience frequent natural disasters affecting the national grid framework, making power supply unstable at the point of use. In this situations, portable generators are used frequently to tackle the calamities.

What are the Challenges Encountered by Manufacturers of Portable Inverter Generator?

“Increasing Environmental Concerns are leading to Tighter Emission Standards Globally”

One of the major restraints on the portable inverter generator market is regulatory pressure, mainly because the global environment is becoming increasingly sensitive and the standards of emissions are becoming more stringent. Governments are setting and regulating policies regarding greenhouse gas and air-pollutant emissions, such as the U.S. Environmental Protection Agency (EPA) and the European Union.

This keeps pressure for major investment in research and development, but transforms the sector, which may open up to new technologies and market forces. Companies must navigate these challenges while maintaining product performance, reliability, and cost-effectiveness, all while anticipating future regulatory changes in a rapidly evolving environmental policy context.

Country-wise Insights

How will the United States Perform in the Global Portable Inverter Generator Landscape?

“Rise in the Advanced Technological Activities to Boost the Market Growth”

The market in the United States is estimated at US$ 1,043.5 million in 2024 and is projected to expand at a CAGR of 8.6% through 2034. This market is projected to generate a US$ 1,343.9 Million absolute opportunity from 2024 to 2034.

Portable inverter generators find multiple applications across multitude mature industries in the U.S. like construction, automotive, etc. Higher levels of affordability and spending capacities of consumers in the U.S. is led to trigger the thriving growth of regional market, making it the most demanding country in global portable inverter generator market. According to the U.S. Department of Treasury, currently a median worker would have an additional US$ 1,000 to spend or save in 2023 had they bought the same goods and services they had in 2019.

The North American region is closely connected, which makes Canada and Mexico accessible markets for portable inverter generators from the United States.

Why is China a Lucrative Market for Portable inverter generator?

“Use of Sustainable Rental Light Tower Solutions is a Major Trend in the Country”

The market in the China is estimated to reach US$ 1,123.9 million in 2034 at a CAGR of 9.6%. This market is projected to generate a US$ 673.1 Million absolute opportunity from 2024 to 2034.

Among global portable inverter generator manufacturers, a large number of major operators are based on China, which gives the region a competitive edge in global portable inverter generator market. China is also one of the major country in when it comes to electricity consumption per capita. As of 2022, on an average 987 kWh of electricity were consumed. Manufacturers in the region are adopting the latest technologies to produce surge-sensitive, fuel-efficient, and better performing portable inverter generators which would boost China’s aggressive export policy thereby generating significant revenue growth in the market.

Category-wise Insights

Which is the Most Sought-after Fuel Type Category?

“Affordable Nature of Gasoline Segment to Maintain their Popularity”

Demand for gasoline-based gen-sets is expected to reach a revenue of US$ 5,358.0 in 2034. Gasoline is the primary choice for fuel inverter gen-sets due to its reasonable cost and easy portability. Due to a variety of benefits associated with gasoline generators such as lower cost, fuel efficiency, and affordability, gasoline portable inverter generators are gaining more popularity than diesel portable inverter generators across the global market. As a result of technological advancements, use of gas-powered portable inverter generators has increased extensively in residential, commercial, and industrial sectors.

Which Segment to Remain Dominant in the Power Category?

“1-3 kW Segment to Enhance Growth Prospect”

1-3 kW power segment is estimated to account for 41.6% share of the market in 2024, and the segment is projected to reach a market valuation of US$ 3,458.5 Million by 2034-end. 1-3 kW gen-sets are known for their compact and minimal noise levels, wide popularity due to their optimum power capacity many opted these generators for residential purposes as well as commercial purposes as well.

Competitive Landscape

Key players in the Portable inverter generator market are Atlas Copco, Briggs & Stratton, Caterpillar, Cummins, Inc., DuroMax Power Equipment, Ford Generators, Generac, Honda Power Equipment, Honeywell International Inc., Hyundai, John Deere, Kohler Co., Lincon, Toshiba Corporation, and Yamaha.

Companies devote a significant portion of their revenue to R&D to resolve problems and offer creative solutions to draw in new customers and stay competitive. Companies are developing customized offerings for issues that meet industry-specific needs to compete with other players.

• On September 2024, BLUETTI launched a 62-pound portable power station with a power output of 2,400 watts, surge power of 3,600 watts, and a power capacity of 2,048 watt-hours.
• On January 2022, Honda announced planned to begin sales of new EU32i portable generator equipped with a newly designed dedicated engine (with a maximum output of 3.2kVA). The company also revealed that sales would begin in the European region in March 2022, followed by expansion of sales to other regions globally.

Fact.MR has provided detailed information about the price points of key manufacturers of Portable inverter generator positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Portable inverter generator Industry Research

• By Power Grade :

  • Diesel
  • Gasoline
  • Propane
  • Electric

• By Power Output :

  • Up to 1 kW
  • 1 - 3 kW
  • 3 - 5 kW
  • Above 5 kW

• By Use Case :

  • Residential Power Backup
  • Commercial Backup
  • Industrial Backup

• By Sales Channel :

  • Electrical Equipment Retailers
  • Big Box Retailers
  • Company Online Channels
  • eCommerce Website

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa