Big Boom in Portable Power Inverter Market Size Future Scope Demands and Projected Industry Growths to 2028

According to our new research study, titled "Portable Power Inverter Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Phase, Application, Power, Output Voltage, and Geography," the market is projected to reach US$ 2,206.57 million by 2028 from US$ 1,359.21 million in 2021. It is expected to grow at a CAGR of 7.2% from 2021 to 2028.

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A power inverter changes DC power from a battery to conventional AC power used 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 battery terminals. The rising penetration of electric vehicles, increasing commercial usage of recreational vehicles, the surge in the uptake 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.
Further, during the forecast period, several trends, such as in-wheel microinverter systems and increased incorporation of inverters that operate on AC power in electric vehicles, are projected to boost the market. It is also expected to be driven by technological advancements in power electronics, government regulations related to carbon emissions, growing adoption and sales of electric vehicles, increased integration of electronic devices in automobiles, and the rise in the use of various handheld devices, navigation devices, and smartphones, over the next few years.

Due to continued urbanization and population, the energy demand has skyrocketed, necessitating the use of alternative energy sources to meet this requirement. Carbon emissions are strongly linked to traditional energy sources based on fossil fuels, such as coal and petroleum. As a result, renewable energy sources, especially solar energy, are now being used to generate electricity. The increasing uptake of solar energy for electricity generation is likely to drive the demand for portable power inverter market for the forecast period.
Portable power inverters are in high demand among end users across economically developed countries and a few developing countries. However, the pricing of these inverters stands as one of the key restraining factors for the market, owing to manufacturers integrating their products with various technologies to facilitate smooth power flow, reduce noise operation, and compact the final design, which scales up the product's final price. The high cost of the final product restricts several end users in various economically developing countries worldwide, hindering the portable power inverter market growth.

The List of key Companies:
• Cobra Electronics Corporation
• ENERGIZER HOLDINGS, INC.
• Kisae Technology Inc.
• COTEK
• Rally Manufacturing
• EXELTECH
• OSRAM GmbH
• Ring Automotive Ltd.
• Growatt New Energy
• Eaton

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Portable Power Inverter Market Forecast to 2028 - COVID-19 Impact and Global Analysis
By Phase
• Single-Phase
• Three-Phase
Output Voltage
• Upto 240 Volts
• Above 240 Volts
Application
• Residential
• Industrial
• Commercial
Power
• 1000W to 2500W
• 2500W to 5000W

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Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductors and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Devices, Technology, Media and Telecommunications, and Chemicals and Materials.

This release was published on openPR.