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Gas Home Standby Gensets Market Trends

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

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Gas Home Standby Gensets Market Trends

The surge in investments across the real estate sector and unreliable grid infrastructure has led the residential sector to be dependent on the generator sets. The susceptibility of power networks to extensive blackouts caused by events such as cyber-attacks and cascading power failures presents substantial business prospects. The growing dependence on electrical and electronic equipment to support daily operations across various applications will drive the deployment of related products. Additionally, the rising consumer preference for enhanced reliability and zero downtime will positively influence the industry landscape.

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.