New York, Dec. 16, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Inverter Generator Market – Global Outlook and Forecast 2020-2025” – https://www.reportlinker.com/p05997459/?utm_source=GNW
The global market is experiencing growth due to rapid industrialization in developing countries and the proliferation of chargeable electronic devices. North America generated the highest revenue in 2019. The growth of the market can be attributed to increasing camping and power grid failure in countries such as the US and Canada and climate changes in North America.
APAC is expected to witness the highest growth in terms of revenue during the forecast period. Due to weather and non-weather-related conditions in APAC countries, power outages are expected to impact the demand for inverter generators’ growth positively. The building & construction industry is on the rise in India and China due to government initiatives to develop smart cities, which is expected to generate portable generators’ demand during the forecast period. Moreover, the increase in camping activities worldwide, especially in Europe, along with the rising disposable income and increased consumption of consumer electronics, is expected to boost the market for inverter generators during the forecast period.
The following factors are likely to contribute to the growth of the inverter generator market during the forecast period:
• Proliferation of Electronic Devices
• Use of Biofuels for Power Generation
• Increased Usage of Solar Energy
The study considers the present scenario of the inverter generator market and its market dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Global Inverter Generator Market Segmentation
This research report includes a detailed segmentation by fuel, application, size type, geography. Increasing camping activities are expected to boost the demand for inverter generators globally. Consumers have become more dependent on personal communicating devices such as phones, tablets, and laptops during the lockdown. Millennials, especially, who are born in the era of smartphones, have shown increasing inclination toward hand-held devices and smartphones. The dramatic rise of music festivals since the late 2000s, which spread over the weekend to a couple of days, has spawned the popularity of camping tents, which are indirectly affected the demand for campsite and recreational generators.
The global gas-powered commercial inverter generator market was valued at over $625 million in 2019. Gas-powered devices are in demand and are proving to be an excellent choice for tougher and demanding tasks. However, reducing oil prices would raise competition for gas-powered devices. These machines do not require charging, but they need regular maintenance to keep up performance and improve durability. Moreover, changing government regulations on pollutions is one of the major challenges faced by diesel generators.
Recreational inverter generators are designed to be a portable power source, which is one of the major factors for increased application. As compact and designed to carry with one hand, they max out at around 2,000 watts, which is maximum for tailgating or camping. Continuous innovations in this segment are boosting the industry. Vendors are increasingly collaborating with tech companies to increase usability and acceptance among consumers. Vendors are incorporating telescoping handles in their generators, which helps them in maneuverability. They are also integrating Bluetooth technology, which sends critical information to the user’s smartphone, including current output wattage, fuel level, and remaining run time. However, they are compact and reliable. Research shows that these models emit carbon monoxide at a rate that can quickly build up to unsafe levels in an enclosed space.
• Mixed/Hybrid Fuel
• Camping & Recreation
• Emergency Use & Home Standby
• Jobsite & Construction
By Size Type
INSIGHTS BY GEOGRAPHY
The growth in portable generators across North America is expected to boost inverter generators’ demand during the forecast period. Several factors currently drive the North American inverter generator market. Inverter generators are low-priced alternatives to standby alternatives and more efficient comparatively. Their installation and operating costs are minimal, making them an ideal choice for residents, small businesses, and campsites. Moreover, the increased dependency on interconnected technology systems and growth in the adoption of grid infrastructure and multipurpose power generation systems have further spurred portable generators’ demand. In the Midwest and Eastern US regions, much of transmission and distribution networks are above ground, leaving them vulnerable to the effects of severe weather, including high winds, heavy rain, ice, snow, and electrical storms. Floods caused by heavy rains or hurricane-related storm surges can lead to major power interruptions, which increases the need for portable power solutions.
• North America
o South Korea
• Latin America
• Middle East & Africa
o Saudi Arabia
o South Africa
INSIGHTS BY VENDORS
The global inverter generator market is characterized by low market concentration, with high competition among players. The present scenario drives vendors to alter and refine their unique value proposition to achieve a strong market presence. The market confronts the threat of infiltration with low-quality products from Chinese vendors. Major vendors continually compete for the leading position in the market, with occasional spurts of competition from other local vendors. The market is characterized by the presence of diversified global and regional vendors. Currently, the industry is moderately fragmented and is dominated by vendors such as Techtronic Industries, Generac, Honda, Champion, and Stanley Black & Decker, among others. All these major vendors have a global presence in three major geographical regions: North America, APAC, and Europe.
• Techtronic Industries Company (TTI)
• Stanley Black & Decker
• Honda Motor Company
• Briggs & Stratton Corporation
• Westinghouse Electric Company
• Champion Power Equipment
Other Prominent Vendors
• FNA Group
• Powerbuilt Tools
• Ford Motor Company
• China National Machinery Industry Corporation (Sinomach)
• All Power America
• Whistler Group
• Tomahawk Power
• Green Power America
• Duromax Power Equipment
• ECHO Incorporated
• Pulsar Products
• Yamaha Corporation
• Lifan Power
• Hyundai Motor Company
KEY QUESTIONS ANSWERED
1. What is the inverter generator market size and growth rate during the forecast period?
2. What are the factors impacting the growth of the inverter generator market shares?
3. What is the growth of the APAC inverter generator market during the forecast period?
4. Who are the leading vendors in the inverter generator market?
Read the full report: https://www.reportlinker.com/p05997459/?utm_source=GNW
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