Home Standby Gensets Market Size – By Power Rating (≤ 10 kVA, > 10 kVA - 50 kVA, > 50 kVA - 100 kVA, > 100 kVA), By Fuel (Diesel, Gas), By Phase (Single Phase, Three Phase), By Product, By Regional Outlook & Forecast, 2024 – 2032

Home Standby Gensets Market Size

Home Standby Gensets Market was valued at USD 7.9 billion in 2023 and is anticipated to grow at a CAGR of over 6.7% from 2024 to 2032. The increasing necessity for reliable and efficient backup power units in association with increasingly prioritizing uninterrupted power supply to maintain essential services and comfort during outages will energize the business potential. Ongoing construction projects in residential apartments including single-family and multifamily along with improvement in technological systems will escalate the industry scenario.
 

Home standby genset is a power backup systems designed to automatically activate and provide electricity to a home during a power outage. Continuous efforts by the government to promote incentives program, regulations, and subsidies in line with growing concern toward environmental sustainability, disaster preparedness & energy security are the key factors, which will stimulate the market dynamics. Furthermore, supportive incentives comprising of rebates and tax credits for the deployment of generator sets coupled with rising need for low emissions and high efficiency units will enhance industry scenario.
 

Home Standby Gensets Market Trends

The rising focus on environmental sustainability in line with paradigm shift toward renewable energy systems will propel the business outlook. Heightened awareness of energy security & resilience along with utilization of cleaner fuel sources including natural gas and LPG will complement the industry scenario. Moreover, the increasing incorporation of remote monitoring capabilities in these units combined with expansion of residential infrastructure will drive the adoption of standby generator sets. Continuous digital advancements in generators systems including remote monitoring capability, integration of IoT systems, and predictive maintenance will influence the business outlook.
 

Home Standby Gensets Market Analysis

The > 10 kVA - 50 kVA rated air cooled three phase home standby industry will exceed USD 6 billion by 2032. The surging occurrence of weather related event combined with a growing focus on backup power solutions to sustain uninterrupted operations will drive substantial demand for these units. Ongoing technological innovation especially in engine efficiency and noise reduction will significantly bolster market expansion. Additionally, supportive regulatory environments in conjunction with incorporation of home automation technologies in residential settings will accelerate the product deployment.
 

The diesel fired home standby gensets market size will witness a CAGR of over 5.5% through 2032, on account of their long operational life and highly reliable. Increasing power demand to support moder appliances and technologies in line with growing advancements in minimizing emission & improved environmental performance will energize the industry overview. Additionally, increasing consumer awareness toward reliable power solutions especially in frequent power outages and extreme weather events will contribute to the deployment of business outlook.
 

North America home standby gensets market is set to surpass USD 4.5 billion by 2032. Surging investments in the residential sector coupled with proactive government initiatives will excel the business growth. Ongoing technological innovations facilitating seamless integration and remote access with smart home systems in association with increasing consumer demand for reliable power solutions will augment the industry growth. Moreover, the incorporation of advanced technological units including of predictive maintenance, automatic load management, and remote monitoring will energize the business size.
 

U.S. home standby gensets market is poised for notable growth driven by superior efficiency and smart technologies. The rise in number of residential construction activities combined with stringent carbon emission standards will facilitate the product adoption. In addition, expanding renovation of existing residential establishment with advanced electrical units, home-based businesses, and large appliances will encourage the business dynamics. Rising need for uninterrupted power supply to maintain essential services and comfort during outages will significantly bolster the market growth.
 

Home Standby Gensets Market Share

HIMOINSA designs, manufactures & distributes power generation equipment including diesel & gas operated gensets, portable gensets, control panels & lighting towers, and hybrid generators & gensets ready to be integrated into solar power systems. It manufactures all generator components including engines, alternators, controllers, and canopies in its own factories. The company offers its products through a worldwide network of distributors.
 

Home Standby Gensets Market Companies

The key industry players include:

• Ashok Leyland
• American Honda Motor Co., Inc.
• Briggs & Stratton
• Caterpillar
• Champion Power Equipment
• Cummins, Inc.
• Eaton
• ECHO Group
• Generac Power Systems, Inc.
• Gillette Generators
• HIMOINSA
• HIPOWER
• Kirloskar
• Kohler Co.
• Mahindra POWEROL
• PINNACLE GENERATORS
• Powerica Limited
• PR INDUSTRIAL srl
• Rolls-Royce plc
• Sichuan XinYici Power Machinery Co., Ltd.
   

Home Standby Gensets Industry News

• In October 2023, Briggs & Stratton launched PowerProtect home standby generator line, which is designed to deliver increased power, reliability, and convenience. Featuring NGMax technology for optimal performance on natural gas, this lineup sets a new standard in air-cooled home standby generators. The PowerProtect series includes with the models ranging from 13kW to 26kW, offering enhanced power capacities across the board.
   
• In January 2023, Generac Power Systems incorporated its entire line of cellular-enabled and Wi-Fi home standby generators with the latest ecobee smart thermostats. This integration has established a unified energy management hub for homes, simplifying operations for homeowners. Furthermore, this initiative has enhanced home energy management and reinforced the company’s commitment to delivering innovative solutions for residential power needs.
   

This home standby gensets market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’000 Units” & “USD Million” from 2021 to 2032, 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
  • Türkiye
  • Iran
  • Oman
• Africa
  • Egypt
  • Nigeria
  • Algeria
  • South Africa
  • Angola
  • Kenya
  • Mozambique
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Chile