Portable Power Inverter Market Size, Share and Growth by 2028

The portable power inverter market is expected to grow from US$ 1,359.21 million in 2021 to US$ 2,206.57 million by 2028. It is estimated to rise at a CAGR of 7.2% from 2021 to 2028.

A power inverter changes DC power from a battery to conventional AC power that you can use to operate all kinds of devices. Inverters can be used to charge electrical devices using automobile batteries and other renewable energy sources, such as wind turbines and solar panels. Portable power Inverters are used in a wide range of automotive and manufacturing industries. They are powered by plugging into a socket, using a fuse panel, or directly connecting to the battery terminals. The rising penetration of electric vehicles, increasing commercial usage of recreational vehicles, the surging adoption of solar power, and the growing number of government initiatives to reduce the emission of Greenhouse Gas (GHG) are driving the portable power inverter market.

The reports cover critical developments in the portable power inverter market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies, such as product launches, product approvals, patents, and events. Inorganic growth strategies activities witnessed in the market have been acquisitions, partnerships, and collaborations. These activities have paved the way for the expansion of business and the customer base for market players. These players are anticipated to gain lucrative growth opportunities with the rising demand for portable power inverters over the next few years.

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The List of Companies - Portable Power Inverter Market

Cobra Electronics Corporation
ENERGIZER HOLDINGS, INC.
Kisae Technology Inc.
COTEK
Rally Manufacturing
EXELTECH
OSRAM GmbH
Ring Automotive Ltd.
Growatt New Energy
Eaton

Portable Power Inverter Market Insights
Continuous Increase in Demand from Residential Sector

The adoption of inverters for personal usage in the residential sector has been around for decades. This factor is one of the major factors driving the growth of the portable power inverter market. In the current scenario, the attention toward portable power inverters has risen stupendously due to portability and lower energy consumption advantage. The increasing interest in varied models of these inverters is driving the market substantially. Further, the uptake of portable power inverters is foreseen to grow over the years, as procurement of solar PV portable inverters is rising among end users in the residential sector, propelling the portable power inverter market size.

The increase in the number of household appliances purchased worldwide is one of the key factors responsible for the rising demand for power inverters. Over the past couple of years, the work from home scenario has displayed an increase in the use of laptops, desktops, and other consumer electronics at homes, which require a continuous power supply. Due to this, the need for and uptake of portable power inverters has risen remarkably across the world, which is further catalyzing the portable power inverter market growth.

In recent years, the uncertainty of sudden power outages has reflected on the demand for power inverters in the residential sector. Thus, coupling the factors, such as portability, less power consumption, and the need for inverters to support electronics operations during power outages, has led to a rise in the uptake of power inverters, and more recently the portable versions of the power inverters. This is driving the portable power inverter market size.

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Output Voltage - Based Market Insights

Based on the output voltage, the portable power inverter market is divided into up to 240 volts and above 240 volts. In 2021, the up to 240 volts segment accounted for the largest market share. Inverters provide the inverse function of "converters," which initially were big electromechanical devices that converted AC to DC. Even when the inverter's load changes, the AC output voltage of a power inverter is commonly controlled to be the same as the grid line voltage, which is typically 120 or 240 VAC at the distribution level.
Application-Based Market Insights

Based on application, the portable power inverter market is segmented into residential, commercial, and industrial. In 2021, the residential segment accounted for the largest market share. With the increasing adoption of solar PVs by residential users, companies are offering inverters with advanced capabilities. For instance, in May 2020, Huawei Technologies Co., Ltd. announced the launch of Smart Energy Controllers, a one-phase and a three-phased inverter with AI-powered arcing protection technology for residential applications.

The players operating in the portable power inverter market adopt strategies, such as mergers, acquisitions, and market initiatives, to maintain their positions in the market. A few developments by key players are listed below:

In September 2020, Ring announced that two of its products were awarded in the inverter test in the latest edition of Auto Express. The RINVU300 PowerSource 300W Compact Inverter won the Best Buy award and retained its crown, with the RINVU500 PowerSource 500W Compact Inverter getting a recommendation.

In January 2022, Eaton and Samsung are accelerating the opportunity with a new partnership to extend the home energy management and monitoring capabilities of Samsung's SmartThings Energy platform.

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