Portable Inverter Generators Market By Top Trends & Regional Analysis 2022-2028
As compared with conventional generators, portable inverter generators are emerging as a relatively new technology that offers backup power during outages and other benefits, including low sound operation.
As compared with conventional generators, portable inverter generators are emerging as a relatively new technology that offers backup power during outages and other benefits, including low sound operation. The demand for portable home inverter generators is anticipated to surge due to myriad reasons, including the robust demand for an uninterrupted power supply.
Citing an instance, in January 2022, Honda unveiled plans to start the sales of its EU32i portable generator equipped with a dedicated inverter, with a maximum output of 3.2-kVA. This system was designed to address the demand for backup power for varied applications including outdoor and recreational activities.
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One of the prominent factors spurring portable inverter generators market growth is the substantial increase in investment in the construction sector. According to the U.S. Census Bureau, during the first two months of 2022, construction spending increased by 10.4% to $237.8 billion, up from $215.4 billion for the same period a year earlier. The potential rise in construction activities will likely proliferate the use of portable electric inverter generators to power tools and machinery used on construction sites during power outages.
Rising incidence of power interruptions and increased GHG emissions
Electrical systems are becoming less dependable, with sustained outages occurring with high frequency in prominent countries like the U.S. According to federal data reviewed by Wall Street Journal, there were more than 180 major power interruptions in the country in 2020, up from just less than two dozen major disruptions in 2000. These factors are expected to encourage manufacturers to design reliable backup power systems like dual fuel portable inverter generators, ideal for consumers with variable power needs.
With the growing concerns about greenhouse gas emissions, generator manufacturers are likely to focus on units with a smaller footprint. As per data from the U.S. Environment Protection Agency, carbon dioxide accounted for over 80% of the GHG emissions caused by human activities in the country in 2019. To reduce environmental impact, consumers are expected to deploy low-carbon fuels like natural gas to run portable inverter generators.
The adoption of natural gas as a preferred fuel for residential applications could further boost the overall portable inverter generators industry development. According to the U.S. Energy Information Administration, in 2020, natural gas accounted for over 42% of the residential sector’s end-use energy consumption, stimulating the production of low-carbon portable natural gas inverter generators for home use.
Gradual increase in non-residential construction and infrastructure spending
Due to steady economic growth and rising fiscal infrastructure expenditure, stabilization in non-residential construction has been observed worldwide. As per ING THINK - Economic and Financial Analysis, U.S. non-residential construction is set to witness a significant recovery in 2022 and was up 25% on its pre-pandemic highs, owing to the ease of COVID-19 restrictions. There has also been a rising trend of business owners requesting permission to install commercial backup generators from landlords, which could amplify the use of portable inverter generators for commercial purposes.
In addition, several acts have been enacted in the U.S. to boost infrastructure spending. The bi-partisan Infrastructure Investment and Jobs Act, for example, was introduced with an extra $550 billion of infrastructure spending over the next 5 years, above $450 billion in spending having already been approved by Congress.
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Since construction activity requires power to run multiple machinery and tools at the sites, the ever-increasing infrastructure spending could assert a positive influence on the portable inverter generators market to ensure a reliable power supply.
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