Home Standby Gensets Market Size - By Power Rating, By Fuel, By Phase, By Product, Analysis, Share, Growth Forecast, 2025 - 2034

Home Standby Gensets Market Size

The global home standby gensets market was valued at USD 8.5 billion in 2024. The market is expected to reach USD 16.1 billion in 2034, at a CAGR of 6.5%. Growing need for reliable and effective backup power systems paired with the development of single-family and multifamily homes will boost the industry landscape.
 

Ongoing urbanization trend coupled with the rising frequency of weather-related disasters will boost the product adoption. Social and technological changes such as remote monitoring, the switch in focus towards more sustainable fuel sources like natural gas and propane, and their adoption will enhance the industry outlook.
 

For citation, in 2024, the government has launched an initiative to improve affordability and home ownership through financing. The initiative was centered around construction, cost, and approval processes. Expansion of rental units, assistance for new home buyers, and relief from zoning regulations were also a part of the initiative. Making sure that the future generations can access housing fairly was the main aim of the plan.
 

Increasing investments in residential construction paired with government incentives for robust energy infrastructure systems will fuel the adoption of these generator sets across urban and rural regions. These provide reliable power by their automatic activation during outages, ensuring seamless electricity supply to homes.
 

Growing concerns over energy security along with the rising demand for low-emission and high-efficiency units will accelerate industry growth. Rising consumer awareness of power backup solutions along with rising concerns toward sustainability and the integration of renewable energy sources will augment the industry landscape.
 

For illustration, in 2024, the Canadian government established voluntary Made-in-Canada sustainable investment guidelines intending to achieve net-zero emissions by 2050. It created a novel investment classification system which provided an extensive green classification for investments that support low or no emissions activities. Moreover, a transition category was created to channel financial resources to credible decarbonization paths within the consumption intensive categories.
 

The increasing population, rise in personal income and urban migration will create substantial investment opportunities in the residential segment of the economy which, in turn, will improve business conditions. In addition, soaring demand from consumers for increased dependability and uninterrupted services will lead to a more favorable environment for the industry. Moreover, the development of real estate construction projects will be complemented by expansive government-funded programs, including the smart city initiatives which will all contribute towards an improved business environment.
 

Home Standby Gensets Market Trends

Growing focus toward sustainability along with a shift towards renewable energy sources will support business growth. Furthermore, the growing recognition of energy security and resilience toward the use of cleaner fuels including natural gas and LPG will support the industry growth.
 

The increasing popularity of automated backup power solutions will augment the demand for these gensets. In addition, developments in smart grid integration as well as energy-saving technologies will bolster the perspective of this industry by guaranteeing efficient power servicing and accurate performance control. All of these will help strengthen the public, private, and even civil society power structures.
 

For reference, the Biden-Harris Administration reinforced its commitment to grid resilience by investing USD 2.2 billion in eight projects across 18 states in 2024. This initiative, backed by the Bipartisan Infrastructure Law’s GRIP Program, leveraged nearly USD 10 billion in public-private funding to enhance energy reliability and affordability.
 

The growing use of these units for backup power in residential facilities outfitted with high end systems and electrical systems that demand constant high voltage will enhance the industry prospects. Large scale properties such as bungalows, luxury homes, and mansions equipped with smart electrical appliances, will drive demand for these products. Additionally, their compact size and lighter weight will further support the business growth.
 

The backup power sector will become more reliable and operationally efficient as predictive maintenance, remote diagnostics, and IoT-based connectivity become more common. Incorporating smart monitoring systems will also increase uptime for these generators – sets and systems will not simply fail.
 

Ongoing technology innovations in dual-fuel and tri-fuel generators paired with the increased consumption of electricity for household appliances and smart devices will foster the product penetration. Furthermore, the need for constant electricity supply in rural and off-the-grid regions owing to increased housing projects and better digital connectivity will boost THE business landscape.
 

For citation, the Green Climate Fund expanded its investments in 2025 by approving USD 686.8 billion, reaching a total of USD 1.5 billion in investments with co-financing provided. This measure has been taken to support the country’s most vulnerable to the effects of climate change. GCF’s financing will implement 11 projects which directly benefit approximately 115.5 billion people and reduce CO2 emissions by 45.3 billion metric tons in 42 countries.
 

Home Standby Gensets Market Analysis

• The home standby gensets market was estimated at USD 7.3, 7.9 and 8.5 billion in 2022, 2023 and 2024 respectively. Based on power rating, the industry is segmented into ≤ 10 kVA, > 10 kVA - 50 kVA, > 50 kVA - 100 kVA and > 100 kVA. These units are known for their ability to efficiently address consumer power needs along with growing consumer preferences for greater reliability and minimal downtime will additionally improve business opportunities will boost industry growth.
   
• The ≤ 10 kVA power rated home standby gensets market is expected to grow at a CAGR of over 6% by 2034. These products have many distinct benefits, like being incredibly lightweight, multifunctional, and having a small size which makes them easy to market. The efficiency with which they meet consumer power requirements will increase their market share and expansion within the industry.
   
• For illustration, as stated by the International Energy Agency (IEA), global electricity consumption grew by more than 2% in 2023, pointing toward an increasing shift in the need for power solutions. This trend is set to drive the growth and escalate the product penetration in the industry.
   
• The > 10 kVA - 50 kVA power rated home standby gensets market is projected to reach over USD 7 billion by 2034. The industry will witness significant growth owing to ongoing advancements in technology to improve efficiency of engines and noise reduction.
   
• The > 50 kVA - 100 kVA power rated home standby gensets market was estimated at about USD 1 billion in 2024. The increasing demand for dependable electricity combined with the rising energy costs will foster the product adoption. Furthermore, rising focus on strict building codes mandating emergency power will augment the business outlook.
   
• For citation, in April 2024 the Canadian Prime Minister stated that they hope to enhance the speed and ease of home construction in the Budget 2024 provisions. In addition to that, USD 15 billion is proposed as a top-up for the Apartment Construction Loan Program, which together with the existing financing will build over 131,000 new apartments in the next 10 years.
   
• The > 100 kVA power rated home standby generators provide uninterrupted power supply to critical home systems including HVAC and home automation. These are designed for high performance and ensuring uninterrupted power supply, escalating the business potential.
   

• Based on fuel, the industry is segmented into diesel and gas. Diesel home standby gensets market has a share of 47.6% in 2024. Growing need for reliable power to support modern appliances paired with the growing frequency of power outages will augment the business landscape.
   
• For reference, the EIA notes that, in 2022, the average American was subjected to more than seven hours of power cuts, which stresses the urgent necessity for reliable electricity, which in turn will further drive the product penetration.
   
• The gas home standby gensets market will reach over USD 6 billion by 2034. The widespread availability of natural gas along with the strict government policies aimed to reduce carbon emissions will augment the demand for these gensets. These gensets offer the convenience of an uninterrupted fuel supply and can be connected directly to municipal gas lines, which in turn will augment the business landscape.
   
• For reference, according to the International Energy Agency (IEA), natural gas consumption is projected to grow by 1.6% annually through 2025. These gensets not only ensure a steady fuel supply but can also be directly linked to municipal gas lines, reshaping the business landscape.
   
• Based on product the market is segmented into air cooled and liquid cooled. Air cooled home standby gensets market was assessed at over USD 4 billion in 2024. These generator sets are preferred in moderate climates with minimal cooling requirements while ensuring reliable backup power making them an ideal choice for households.
   
• The liquid cooled home standby gensets market project at a CAGR of over 6% by 2034. These systems are designed to handle larger loads and operate efficiently under prolonged use making them ideal for luxury homes and properties with extensive electrical needs.
   

• U.S. home standby gensets market was estimated at USD 1.9, 2, 2.2 billion in 2022, 2023 and 2024 respectively. Ongoing renovation of existing homes with modern electrical systems coupled with the rise of home-based businesses and the use of large appliances will further boost business dynamics.
   
• For instance, according to the U.S. Energy Information Administration (EIA), electricity prices for residential consumers increased by approximately 10% in 2023 compared to the previous year. Additionally, a heightened emphasis on stringent building codes that require emergency power will bolster the industry's prospects.
   
• North America home standby gensets market will witness at a CAGR of over 7.5% in 2034. Ongoing focus on sustainability along with the stringent environmental policies will foster the development of low emission gensets. Increasing construction of high-end residences with high & reliable power requirements will further fuel the demand these generators.
   
• For citation, the Canadian government investment of USD 50 million for the January 2025 construction of 144 rental units. The MileBrook is a new milestone for the Island of Montréal since it is the largest project ever undertaken to combine residential spaces on rent in the eastern side of the Island.
   
• The Europe home standby gensets market was valued over USD 1.1 billion in 2024. Increasing urbanization rate along with surging trend of work from home concept will shape the demand curve for the industry. Ongoing development of residential building including apartments and duplexes will energize the business dynamics.
   
• For citation, Eurostat indicated a 5% growth in residential construction permits in 2023, invigorating the business landscape. Moreover, the robust expansion of urban infrastructure and smart home adoption will fuel the demand for reliable power backup systems across the region.
   
• The Asia Pacific home standby gensets has a market share of over 30% in 2024. Ongoing government initiatives supporting residential power resilience, combined with the rising concerns toward energy security regions prone to frequent blackouts are prompting homeowners to invest in reliable backup power solutions.
   
• Increasing population index in line with the flourishing real estate will positively impact the business landscape. For illustration, approximately 4.7 billion people or 60% of the global population currently live in Asia Pacific.
   
• The Middle East home standby gensets market is set to grow at a rate of about 8% from 2025 to 2034. Government initiatives aimed at diversifying energy sources and enhancing infrastructure coupled with increasing interest in smart home technologies will drive the demand for these gensets.
   
• The Africa home standby gensets market is set to reach over USD 1.2 billion by 2034. Growing efforts to improve electrification rates by the government coupled with a growing interest in off-grid solutions and renewable energy integration will influence the product adoption.
   
• For citation, approximately 600 billion people in Africa continue to face unreliable or no access to electricity, representing nearly half of the continent's total population. This figure also accounts for more than 80% of the global shortfall in electricity access highlighting a significant energy disparity and accelerating the industry potential.
   
• The Latin America home standby gensets market is poised to grow at a CAGR of 6.5% in 2034. Growing preference toward lower-emission solutions along with rising the increasing frequency of weather-related disasters including hurricanes, storms, and heatwaves will foster the demand for these gensets.
   
• For illustration, according to a risk index that evaluates the annual exposure of people to this type of seismic activity, Chile received the highest-ranking scoring 9.6. This ranking reflects the significant number of individuals in the nation who are at risk of experiencing seismic events every year.
   

Home Standby Gensets Market Share

• The top 5 players including Caterpillar, Cummins, Generac Power Systems, Briggs & Stratton and Rehlko together holds share of about 42% in the home standby genset market. Caterpillar’s global presence and different products lines, and improvements in fuel consumption and remote monitoring technologies have consolidated its competitive advantage. At the same time, Generac and Cummins have begun to deepen their further expansion with alliances and novel pioneer innovations focusing on low emission and hybrid generators as well.
   
• Kirloskar stands to grow tremendously in the generator range which will enhance their reputation as a provider of alternative sustainable power solutions. The company continues to lead in innovation in the backup power sector by advancing in new technologies for fuel and emissions energy efficiency.
   
• Kohler has developed a line of home standby generators with Rehlko that operate with great efficiency and are extremely reliable during home power outages. Rehlko's home standby generators automatically activate, ensuring that crucial appliances and systems remain powered during the outage.
   

Home Standby Gensets Market Companies

• Cummins Power Systems segment reported a USD 640 billion surge in sales in 2023, reflecting strong growth across its entire product portfolio. The power generation division spearheaded this expansion, contributing USD 550 billion, fueled by rising demand across North America, India, Asia-Pacific, and the Middle East.
   
• Caterpillar recorded USD 2.24 billion in sales in the last quarter of 2024 up from USD 1.83 billion in the same period of 2023. This growth was driven by increased demand across all key regions, reinforcing the company’s strong market position.
   
• Generac announced that their residential product segment reported USD 2.43 billion in sales, with an increase of over 18% from USD 2.06 billion in the previous year owing to the strong demand across all key markets.
   

Major players operating in the home standby gensets market are:

• Ashok Leyland
• Briggs and Stratton
• Caterpillar
• Champion Power Equipment
• Cummins
• Eaton
• Echo Group
• Generac Power Systems
• Gillette Generators
• HIMOINSA
• Hipower
• Kirloskar
• Mahindra Powerol
• Pinnacle Generators
• Powerica
• PR Industrial
• Rehlko
• Sichuan Xinyici Power Machinery
   

Home Standby Gensets Industry News

• In January 2025, Generac Power Systems has launched a new series of home standby generators, the highlight being the new 28kW model which is the most powerful air-cooled unit available in the market today. Generac is continuously broadening the spectrum of dependable and power-efficient generators, ranging from 10kW to 28kW. The newer models can easily integrate into the Generac ecosystem, utilizing smart ecobee thermostats and PWRcell battery systems.
   
• In September 2024, Kohler’s assembly plant in Hattiesburg is among industry leaders in producing reliable standby generators which help keep homes and small businesses powered during storms. The plant also specializes in air cooled and water-cooled units which are designed to operate on propane or natural gas. These generators make reliable backup power solutions.
   
• In May 2024, Briggs & Stratton has launched the 26 kW Power Protect Home Standby Generator which integrates sophisticated motor starting capabilities and comes with an industry leading warranty. Additionally, the generator boasts dual fuel capability of natural gas and liquid propane. With a 7% increase in power due to the use of NGMax technology, the generator is optimized for natural gas use. Designed with the modern gas dependent house in mind, this generator provides reliable, flexible, and powerful options for residential energy emergencies.
   
• In March 2024, Cummins and Sudhir Power have successfully participated in a major roadshow in Rajasthan where the CPCB IV compliant technology of their gensets was on display. The campaign sought to foster a new brand for the products’ generators which included enhanced operational efficiency, reliability, and compliance with emission regulations. The roadshow aimed at customer interaction while showcasing the performance of the generators as well as promoting both companies’ brands as devoted to green and effective power solutions.
   

The home standby gensets market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume (‘000 Units) & revenue (USD Million) from 2021 to 2034, for the following segments:

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Market, By Power Rating

• ≤ 10 kVA
• > 10 kVA - 50 kVA
• > 50 kVA - 100 kVA
• > 100 kVA

Market, By Fuel

• Diesel
• Gas
• Others

Market, By Phase

• Single Phase
• Three Phase

Market, By Product

• Air Cooled
• Liquid Cooled

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Russia
  • UK
  • Germany
  • France
  • Spain
  • Austria
  • Italy
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam
  • Philippines
• Middle East
  • Saudi Arabia
  • UAE
  • Qatar
  • Turkey
  • Iran
  • Oman
• Africa
  • Egypt
  • Nigeria
  • Algeria
  • South Africa
  • Angola
  • Kenya
  • Mozambique
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Chile