Press release
Portable Inverter Generator Market to Witness Robust Expansion by 2023
Inverter generators are a relatively recent development, made possible by advanced electronic circuitry and high-tech magnets. These are generally 3-phase generators that output AC current like most traditional generators, but that current is then converted to DC, and then “inverted” back to clean AC power that maintains a single phase, pure sine wave at the required voltage and frequency.
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Global Portable Inverter Generator Market: Forecast by Type / Application / Region
The power output segment includes Under 1000 Watt, 1000-2000 Watt, 2000-3000 Watt, 3000-4000 Watt power generators. Increase in adoption of multipurpose power generation systems is anticipated to fuel the Portable Inverter Generator market growth. The 2-3kW Portable Inverter Generator segment is projected to grow at the highest CAGR, owing to increase in awareness of in-house power backup and rise in need for portable powering systems in outdoor recreational activity. The generators that deliver more than 4kW power are extensively used in industrial sector due to need for higher power supply to run machines and industrial tools, which in turn is expected to drive the Portable Inverter Generator market.
Asia-Pacific is the leading regional market, in terms of growth rate, for Portable Inverter Generator, owing to rapid industrialization in developing countries such as China, Japan, South Korea, and India. Moreover, rapid industrialization in Latin America and Gulf countries is expected to fuel the demand for Portable Inverter Generator, as these generators are utilized in various construction activities, which include cutting, drilling, lifting, and many others. Easy availability of fossil fuel in Middle East region is one of the key growth factor for Portable Inverter Generator in the region.
Over the next five years, LPI(LP Information) projects that Portable Inverter Generator will register a 10.2% CAGR in terms of revenue, reach US$ 2550 million by 2023, from US$ 1570 million in 2017.
Global Portable Inverter Generator Market: Key Players
Honda
Yamaha
Generac
Champion
Hyundai
Powermate
Westinghouse
Kipor
Briggs&Stratton
Lifan
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Related Information:
United States Portable Inverter Generator Market Research Report 2018
Europe Portable Inverter Generator Market Research Report 2018
North America Portable Inverter Generator Market Research Report 2018
Asia-Pacific Portable Inverter Generator Market Research Report 2018
China Portable Inverter Generator Market Research Report 2018
EMEA Portable Inverter Generator Market Research Report 2018
Global Portable Inverter Generator Market Research Report 2018
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