Home > Energy & Power > Electrical Equipment > Generator Sets > Gas Home Standby Gensets Market

Gas Home Standby Gensets Market Size

Report ID: GMI7873
Published Date: Jan 2024
Report Format: PDF

Download Free Sample

Gas Home Standby Gensets Market Size

Gas Home Standby Gensets Market was valued at USD 3.1 billion in 2023 and is projected to grow at over 7.4% CAGR from 2024 to 2034. Increasing awareness and concern for power reliability at home, particularly during emergencies or power outages will foster the industry growth. For instance, in 2022, during the Europe's energy crisis, the typical duration of power outages for each connected end consumer averaged 12.2 minutes.

To get key market trends

Download Free Sample

Growing frequency and intensity of weather-related events have also contributed to the need for reliable backup power solutions, making gas home standby gensets a viable choice. The abundant availability of natural gas along with robust expansion of infrastructure will augment the business landscape. Surging concerns about environmental sustainability and the need to reduce greenhouse gas emissions will drive the industry potential.

Gas Home Standby Gensets Market Report Attributes
Report Attribute	Details
Base Year:	2023
Gas Home Standby Gensets Market Size in 2023:	USD 3.1 Billion
Forecast Period:	2024 to 2034
Forecast Period 2024 to 2034 CAGR:	7.4%
2034 Value Projection:	USD 6.7 Billion
Historical Data for:	2019 to 2023
No. of Pages:	400
Tables, Charts & Figures:	1,012
Segments covered:	Power Rating, Phase, Product
Growth Drivers:	Surging intensity of weather-related disasters Increasing investments across the real estate sector Unreliable grid infrastructure and refurbishment of T&D networks Rapid urbanization and increasing consumer propensity toward clean fuels
Pitfalls & Challenges:	High operation & maintenance cost

Learn more about the key segments shaping this market

Download Free Sample

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of gas home standby gensets was reached USD 3.1 billion in 2023 and is estimated to expand over 7.4% CAGR from 2024 to 2034, owing to the expanding awareness and concerns for power reliability at home during emergencies or power outages.

Air-cooled gas home standby gensets market is set to surpass USD 3.5 billion by 2034, due to their compact size and well-suited for larger residential properties that include heavy-load appliances.

North America gas home standby gensets industry was worth over USD 1.5 billion in 2023 and is estimated to record robust growth through 2034, owing to the rising frequency of weather-related disasters in line with the ongoing refurbishment of T&D networks.

Some of the leading gas home standby genset companies are Generac Power Systems, Kohler Co., Briggs & Stratton Corporation, Cummins Inc., Honeywell International Inc., Eaton Corporation, Westinghouse Electric Corporation, Winco Inc., Duromax Power Equipment, Yamaha Motor Co., Ltd., Honda Motor Co., Ltd., Caterpillar Inc., Atlas Copco AB, and Blue Star Power Systems, among others.