Residential Portable Inverter Generator Market
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Residential Portable Inverter Generator Market was valued at USD 2.6 billion in 2023 and is projected to grow at a CAGR of over 5.2% from 2024 to 2032. Rising awareness of the need for dependable backup power coupled with increasing popularity of outdoor activities will strengthen the business potential. Continuous technological enhancements in inverter generators in conjunction with improvements in performance and efficiency will augment the industry dynamics.
A residential portable inverter generator is a compact, lightweight, and mobile power source designed primarily for home use. Introduction of strict emission regulations and compliances along with rapid deployment of noise reduction and eco-friendly technologies will encourage the industry growth. Furthermore, surging power outages events and inconsistent power grid supply in line with increasing requirement for temporary backup power solutions will drive the penetration of portable inverter generators.
| Key Takeaway | Details |
|---|---|
| Market Size & Growth | |
| Base Year | 2023 |
| Market Size in 2023 | USD 2.6 Billion |
| Forecast Period 2024-2032 CAGR | 5.2% |
| Market Size in 2032 | USD 4.1 Billion |
| Key Market Trends | |
| Growth Drivers |
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| Pitfalls & Challenges |
|
The industry is poised for growth driven by the demand for cleaner and more stable power, especially for sensitive electronics. The persistent threat of natural disasters comprising of hurricanes, floods, and wildfires coupled with incorporation of smart features including mobile app connectivity, remote monitoring & automatic start/stop will further propel the deployment of these units. Additionally, continuous development and construction activities in residential establishment across key emerging economies combined with increasing emphasis on dependable power supply will escalate the demand of portable generators.
The 1 kVA - 2 kVA rated segment size will exceed USD 1.5 billion by 2032. These power ratings are set for notable growth owing to their reduced noise level and cost-effectiveness. Ongoing incorporation of ergonomic designs, digital displays, and easy-start mechanisms in conjunction with their capability to provide clean & stable power supply will entail the industry growth. Furthermore, these gensets offer lightweight design and compact size suitable for wide range of multifamily applications, thereby accelerating the product penetration.
The gasoline portable inverter generator market size will observe over 5% growth rate from 2024 to 2032. Rapid population growth in line with increasing power outages and rapid urbanization development will augment the business outlook. Advancements in inverter technology emphasizing fuel efficiency and noise reduction combined with stringent emission mandates toward adoption of sustainable & efficient systems will proliferate the business potential. Rising disposable incomes in tandem with burgeoning investment in premium portable power sources, which in turn will positively sway the industry prospects.
North America residential portable inverter generator market is set to surpass USD 1.5 billion by 2032. The region is experiencing substantial growth driven by increasing frequency of power outages due to aging infrastructure and harsh weather conditions. Ongoing advancements in portable inverter units making them more efficient, quieter, and easier to use coupled with robust development of multifamily and single family apartments will positively influence the business dynamics. Moreover, a rise in outdoor recreational activities in conjunction with heightened consumer awareness of the need for efficient and reliable systems will drive the business outlook.
U.S. residential portable inverter generator sector is poised for substantial growth on account of their broad availability, superior efficiency, and established consumer appeal. Continuous investing by homeowners in portable gensets units to ensure uninterrupted power during emergencies, further fueling the business growth. In addition, robust expansion and development of residential properties along with integration of smart systems comprising of digital displays & easy-start mechanisms will complement the product deployment.
Briggs & Stratton Corporation, a prominent player in the outdoor power equipment industry, specializes in manufacturing, designing, and servicing gasoline engines and generator sets. The company operates through two key segments: Engines and Products. Its diverse product lineup spans power generators, lawn & garden tools, turf care equipment, and job site products. These offerings are branded under well-known names including Briggs & Stratton, Snapper, Simplicity, Ferris, Branco, Billy Goat, Vanguard, Murray, Allmand, and Victa, underscoring the company's emphasis on quality and innovation.
The key industry players include:
Market, By Power Rating
Market, By Power Source
The above information has been provided for the following regions and countries:
Cummins, Inc, Kirloskar, Briggs & Stratton, Kohler Co, Generac Power Systems Inc, and Yamaha Motor Co., Ltd. among others.
North America residential portable inverter generator market is set to surpass USD 1.5 billion by 2032, driven by increasing frequency of power outages due to aging infrastructure and harsh weather conditions.
1 kVA - 2 kVA rated residential portable inverter generator market will exceed USD 1.5 billion by 2032, owing to their reduced noise level and cost-effectiveness.
The market size of residential portable inverter generator was crossed USD 2.6 billion in 2023 and is projected to grow at 5.2% CAGR during 2024 to 2032, driven by the rising awareness of the need for dependable backup power.