Global Residential Portable Inverter Generator Market Overview
As per MRFR analysis, the Residential Portable Inverter Generator Market Size was estimated at 2.77 (USD Billion) in 2022.
The Residential Portable Inverter Generator Market Industry is expected to grow from 2.91(USD Billion) in 2023 to 4.5 (USD Billion) by 2032. The Residential Portable Inverter Generator Market CAGR (growth rate) is expected to be around 4.95% during the forecast period (2024 - 2032).
Key Residential Portable Inverter Generator Market Trends Highlighted
Inspective of the outages, the increasing use of mobile inverter generators for domestic purposes as a result of the concerning trends in energy interruptions, demand for mobile leisure like tailgating and camping, and favorable public attitude towards green devices is another driver of the growth of portable inverter generators market. There is room to also look into and tap into the use of advanced technology such as generator solar charging and the making of compact and light models for easier mobility. Other current patterns include connecting the devices with remote control capabilities to adjust and monitor the equipment, which is also directed to the current trends in developing inverter technology for cleaner, more precise and stable standard power supply output.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Residential Portable Inverter Generator Market Drivers
Increasing Demand for Backup Power During Power Outages
The demand for electricity for such basic needs as lighting, heating, cooling, air conditioning and refrigeration is ever-increasing in residential areas. Thus disruption of these services is a great inconvenience or discomfort normally caused by utility outages as a result of natural calamities or grid failure power. In the case of extreme weather events, homeowners can use residential portable inverter generators as a reliable backup power source and still have the essential services required. The growing frequency of power outages, weather-related or manmade, especially in natural disaster-prone areas, is one of the factors promoting the growth of the residential portable inverter generator market.
Given the unpredictability of the grid, the market is expected to keep on growing as customers continue focusing on being prepared.
Growing Popularity of Outdoor Recreational Activities
The increasing popularity of outdoor recreational activities, such as camping, tailgating, and off-grid adventures, is another major driver of the residential portable inverter generator market. These activities often require a reliable power source to operate appliances, charge devices, and provide lighting. Residential portable inverter generators are lightweight, compact, and easy to transport, making them an ideal power solution for outdoor enthusiasts.The growing demand for recreational vehicles and the increasing popularity of outdoor living are expected to further fuel the growth of the market.
Advancements in Inverter Technology
Technological advancements in inverter technology have significantly improved the performance and efficiency of residential portable inverter generators. Inverters convert DC power from the generator into AC power, which is compatible with most household appliances and devices. Modern inverters are designed to produce clean and stable power, ensuring the safe and reliable operation of sensitive electronics. The improved performance and fuel efficiency of inverter generators have made them a more attractive option for homeowners, contributing to the overall growth of the Residential Portable Inverter Generator Market Industry.
Residential Portable Inverter Generator Market Segment Insights
Residential Portable Inverter Generator Market Fuel Type Insights
The market is segmented by fuel type into gasoline, diesel, natural gas, and propane. Gasoline generators are the most popular type, accounting for over 60% of the market share. They are relatively inexpensive and easy to operate, making them a good choice for homeowners and small businesses. Diesel generators are more expensive than gasoline generators, but they are more durable and can run for longer periods of time. They are often used in commercial and industrial applications. Natural gas generators are a clean and efficient alternative to gasoline and diesel generators.They are becoming increasingly popular in areas with access to natural gas pipelines. Propane generators are also a clean and efficient option, but they are not as widely available as natural gas generators. The choice of fuel type depends on a number of factors, including the cost of fuel, the availability of fuel, and the intended use of the generator. Gasoline generators are the most affordable option, but they are also the least efficient. Diesel generators are more efficient than gasoline generators, but they are also more expensive. Natural gas generators are the most efficient option, but they are not as widely available as gasoline and diesel generators.Propane generators are a good compromise between cost and efficiency, but they are not as widely available as gasoline and diesel generators. The market for residential portable inverter generators is expected to grow significantly in the coming years. This growth is being driven by the increasing demand for backup power in the event of a power outage. Inverter generators are becoming increasingly popular due to their compact size, portability, and fuel efficiency.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Residential Portable Inverter Generator Market Power Output Range Insights
The power output range segment plays a crucial role in defining the Residential Portable Inverter Generator Market segmentation. The 'Less than 2 kW' segment captured a significant market share in 2023, catering to basic power needs for small appliances and lighting. As of 2024, the '2 kW to 5 kW' segment is projected to witness substantial growth, driven by increasing demand for powering larger appliances and tools. Furthermore, the '5 kW to 10 kW' segment is anticipated to gain traction, driven by the rising popularity of RVs and off-grid living.The 'More than 10 kW' segment is expected to grow steadily, meeting the high-power requirements of larger homes and commercial applications.
Residential Portable Inverter Generator Market Features Insights
The Residential Portable Inverter Generator Market is segmented based on Features into Parallel Capability, Remote Control, Automatic Voltage Regulation, and Eco Mode. Among these segments, the Parallel Capability segment is expected to hold the largest market share of over 35% in 2023. This is due to the increasing demand for generators that can be connected in parallel to provide more power. The Remote-Control segment is also expected to grow significantly in the coming years as consumers increasingly demand generators that can be controlled remotely.The Automatic Voltage Regulation segment is expected to grow steadily as consumers become more aware of the importance of protecting their electronic devices from voltage fluctuations. The Eco Mode segment is expected to grow rapidly in the coming years as consumers become more environmentally conscious and seek generators that are more fuel-efficient.
Residential Portable Inverter Generator Market Application Insights
The Residential Portable Inverter Generator Market segmentation by Application is a key factor driving the market growth. Among different applications, Home Backup holds the largest market share, accounting for over 40% of the global revenue in 2023. This is attributed to the increasing demand for reliable and portable power sources during power outages and emergencies. Camping is another significant application segment, expected to witness a steady growth rate over the forecast period. As outdoor recreational activities gain popularity, the demand for portable power sources for powering equipment and devices while camping is increasing.Construction and Emergency Response are other important application segments contributing to the overall market growth. The market data and statistics indicate a growing demand for residential portable inverter generators across various applications, driven by factors such as increasing urbanization, rising disposable income, and the growing popularity of outdoor activities.
Residential Portable Inverter Generator Market End User Insights
The Residential Portable Inverter Generator Market is segmented based on end-user into residential, commercial, and industrial. The residential segment is expected to hold the largest market share during the forecast period. The growth of the residential segment can be attributed to the increasing demand for portable power sources for homes and recreational activities. The commercial segment is also expected to witness significant growth due to the rising demand for backup power in businesses and offices. The industrial segment is expected to grow at a steady pace due to the increased use of portable generators in the construction and manufacturing industries.In 2023, the residential segment accounted for a market share of around 60%. The commercial segment is expected to reach a market size of USD 1.2 billion by 2024, growing at a CAGR of 5.2%. The industrial segment is projected to reach a market size of USD 0.9 billion by 2024, growing at a CAGR of 4.8%.
Residential Portable Inverter Generator Market Regional Insights
The Residential Portable Inverter Generator Market segmentation by region is analyzed across North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. North America is expected to hold the largest market share in 2023, owing to the increasing adoption of portable inverter generators for recreational activities and emergency backup power. The Asia-Pacific region is projected to witness significant growth during the forecast period due to rising disposable incomes and increasing demand for portable power solutions in developing countries.Europe is anticipated to have a steady growth rate due to increasing environmental concerns and government regulations promoting the adoption of clean energy sources. South America, the Middle East, and Africa are expected to have moderate growth rates due to the increasing need for reliable power solutions in remote and underdeveloped areas.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Residential Portable Inverter Generator Market Key Players And Competitive Insights
Major players in the Residential Portable Inverter Generator Market industry are continuously focusing on developing innovative products to meet the evolving needs of consumers. Leading Residential Portable Inverter Generator Market players are investing heavily in research and development to introduce advanced features and technologies in their products. The Residential Portable Inverter Generator Market development efforts of these companies are focused on improving the efficiency, performance, and reliability of their generators. This competitive landscape is expected to drive the growth of the Residential Portable Inverter Generator Market in the coming years.Honda is a leading company in the Residential Portable Inverter Generator Market industry and has a strong global presence. The company offers a wide range of portable inverter generators that are known for their quality, durability, and performance. Honda generators are used in a variety of applications, including residential, commercial, and industrial. The company has a strong distribution network and provides excellent customer service.Yamaha is another leading company in the Residential Portable Inverter Generator Market industry and has a strong presence in North America and Europe. The company offers a wide range of portable inverter generators that are known for their compact size, lightweight, and quiet operation. Yamaha generators are popular for use in residential applications, such as camping, tailgating, and emergency backup power. The company has a strong brand reputation and provides excellent customer service.
Key Companies in the Residential Portable Inverter Generator Market Include
- All Power America
- Generac Power Systems
- Reliance Controls Corporation
- Champion Power Equipment
- Westinghouse Outdoor Power Equipment
- Yamaha Motor
- Kipor Power Equipment
- Honda Motor
- Briggs Stratton
- DuroMax Power Equipment
Residential Portable Inverter Generator Market Industry Developments
The Residential Portable Inverter Generator Market is projected to reach a valuation of USD 4.5 billion by 2032, expanding at a CAGR of 4.95% from 2024 to 2032. Increasing demand for backup power during power outages, rising adoption of recreational activities such as camping and tailgating, and growing consumer preference for clean and efficient power sources are driving the market growth. Key industry participants are focusing on product innovation and strategic collaborations to strengthen their market position. Recent developments include the launch of new models with advanced features such as parallel operation capability and remote monitoring systems. Furthermore, the growing popularity of renewable energy sources, such as solar and wind power, is creating new opportunities for inverter generators as they can be used to store excess energy and provide backup power during grid outages.
Residential Portable Inverter Generator Market Segmentation Insights
- Residential Portable Inverter Generator Market Fuel Type Outlook
- Gasoline
- Diesel
- Natural Gas
- Propane
- Residential Portable Inverter Generator Market Power Output Range Outlook
- Less than 2 kW
- 2 kW to 5 kW
- 5 kW to 10 kW
- More than 10 kW
- Residential Portable Inverter Generator Market Features Outlook
- Parallel Capability
- Remote Control
- Automatic Voltage Regulation
- Eco Mode
- Residential Portable Inverter Generator Market Application Outlook
- Home Backup
- Camping
- Construction
- Emergency Response
- Residential Portable Inverter Generator Market End User Outlook
- Residential
- Commercial
- Industrial
| Report Attribute/Metric |
Details |
| Market Size 2022 |
2.77(USD Billion) |
| Market Size 2023 |
2.91(USD Billion) |
| Market Size 2032 |
4.5(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.95% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
All Power America, Generac Power Systems, Reliance Controls Corporation, Champion Power Equipment, Westinghouse Outdoor Power Equipment, Yamaha Motor, Kipor Power Equipment, Honda Motor, Briggs Stratton, DuroMax Power Equipment |
| Segments Covered |
Fuel Type, Power Output Range, Features, Application, End User, Regional |
| Key Market Opportunities |
Compact size and portability Advanced fuel efficiency Increased demand during natural disasters Technological advancements Growing construction and renovation activities |
| Key Market Dynamics |
Rising disposable income Increasing demand for backup power Growing adoption of RV and camping Advancements in technology Expansion of e-commerce platforms. |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Residential Portable Inverter Generator Market is expected to reach a valuation of USD 2.91 Billion in 2023.
The Residential Portable Inverter Generator Market is projected to grow at a CAGR of 4.95% from 2024 to 2032.
The Residential Portable Inverter Generator Market is expected to reach a valuation of USD 4.5 Billion by 2032.
North America is expected to hold the largest market share in the Residential Portable Inverter Generator Market in 2023.
The residential segment is expected to drive the growth of the Residential Portable Inverter Generator Market.
Some of the key competitors in the Residential Portable Inverter Generator Market include Generac, Honda, Yamaha, Briggs Stratton, and Westinghouse.
Key trends shaping the Residential Portable Inverter Generator Market include increasing demand for backup power, rising adoption of smart home devices, and growing popularity of outdoor activities.
Growth opportunities for the Residential Portable Inverter Generator Market include expanding into emerging markets, developing innovative products, and increasing distribution channels.
Challenges facing the Residential Portable Inverter Generator Market include fluctuating raw material prices, intense competition, and technological advancements.
Government regulations on emissions and safety standards can impact the design and production of residential portable inverter generators.
