Home Standby Gensets Market Size, Share, Trends, Industry Analysis & Growth 2032

Home Standby Gensets Market Insights

According to the report published by Zion Market Research, the global Home Standby Gensets Market size was valued at USD 4.91 Billion in 2023 and is predicted to reach USD 11.82 Billion by the end of 2032. The market is expected to grow with a CAGR of 9.2% during the forecast period. The report analyzes the global Home Standby Gensets Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Home Standby Gensets industry.

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Global Home Standby Gensets Market: Overview

Genset is portable equipment integrated with an electronic or alternative generator along with an engine to facilitate supply power. The engine helps in converting chemical energy into mechanical energy. Later, this mechanical energy is utilized to move the alternator rotor, thereby transforming the mechanical energy into electrical energy. Power outages create disruptions to homeowners because various appliances, including security systems, lights, refrigerators, cannot operate. Home standby genset helps in overcoming such disruptions by offering safety and convenience to homeowners. It is basically an emergency backup generator installed in residential space to offer a reliable and continuous backup power supply even in case of a grid failure or power disruption.

Global Home Standby Gensets Market: Growth Factors

The outage issues are constantly burgeoning in the developed regions all across the globe due to unpredictable weather conditions. Aging electrical infrastructure in such regions is also a vital factor contributing to the growing power outage issues. However, repairing damaged infrastructure takes a considerable amount of time. Thereby, such a landscape is likely to paramount the growth of the global home standby gensets market in the forthcoming years. In addition, the growing implementation of stringent norms emphasizing the adoption of energy-efficient appliances along with the growing preference of consumers towards higher end technologies will further augment the deployment rate of the product.

Also, the growing economic transformations due to the rapidly growing urbanizations are likely to positively influence the growth of the global home standby gensets market. The growing digital revolution all around the globe is likely to uptick technological upgrades and industrial automation in the forthcoming years. However, the outbreak of the Covid-19 pandemic has prominently focused on several trends, including work from home, which in turn will exponentially scale up the reliability of employees on individual power stations. All these factors are likely to fuel demand for home standby gensets across the residential sector. Such a landscape will encourage the product penetration by manifolds. The growing inclination towards green and renewable fuel will significantly further apprehend the market dynamics. With ever-evolving power demands, there is high adoption of low emission units which can comply with the current industry mandate, thereby driving market growth.

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Global Home Standby Gensets Market: Segmentation

The global home standby gensets market can be segmented into product, phase, fuel, power rating, and region.

By product, the market can be segmented into liquid-cooled and air-cooled. The air-cooled home standby genset segment accounts for the largest share in the global home standby gensets market due to the high capability of these gensets to serve the daily power requirements along with domestic usage. Moreover, the non-complex functioning, easy maintenance, and no risk freezing are some of the prominent factors augmenting the growth of the segment exponentially.

By phase, the market can be segmented into three-phase and single-phase. The three-phase home standby genset segment dominates the global market due to the growing capital expenditure on luxury and premium housing infrastructure, which need a huge power backup. In addition, the surging demand for spacious residential facilities is likely to further augment the demand for reliable power supply.

By fuel, the market can be segmented into diesel, gas, and others. The diesel segment holds hegemony over others due to its high performance and reliability to provide the economic power supply.

By power, the market can be segmented into > 100 kVA, 50 kVA - 100 kVA, 10 kVA - 50 kVA, and < 10 kVA.

Home Standby Gensets Market: Report Scope

Global Home Standby Gensets Market: Regional analysis

North America accounts for the largest share in the global home standby gensets market due to the natural calamities along with prolonged blackouts and brownouts. There is a massive transition in the application of such gensets in the region. Nowadays, they have become a basic necessity over a mere secondary power source across several households in the region, which in turn is likely to significantly escalate the growth of the regional market in the forthcoming years.

Asia Pacific is expected to be the fastest-growing region in the global home standby gensets market due to the constantly growing population and rapid urbanization in the region. Also, the growing economic transformations and commercial growth are likely to boost the reliance on electrical appliances, which in turn will accentuate the product deployment among both residential and commercial sectors. However, the region is witnessing massive investments from governments and prominent market leaders to develop smart cities, which in turn will offer ample impetus to the expansion of the regional market.

Global Home Standby Gensets Market: Competitive Players

Some of the significant players in the global home standby gensets market are:

• Mahindra Powerol
• Kohler SDMO
• MTU Onsite Energy GmbH
• Siemens AG
• Honeywell International
• Cummins
• Caterpillar
• Himoinsa
• Briggs & Stratton
• Eaton
• Generac Holdings Inc.

The Global Home Standby Gensets Market is segmented as follows:

By product 

• liquid-cooled
• air-cooled

By phase 

• three-phase
• single-phase

By fuel 

• diesel
• gas
• others

 By power rating 

• > 100 kVA
• 50 kVA - 100 kVA
• 10 kVA - 50 kVA
• < 10 kVA 

Global Home Standby Gensets Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.