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

North America Home Standby Gensets Market Size

North America Home Standby Gensets Market size was valued at USD 2.4 billion in 2023 and is estimated to expand at 7.8% CAGR between 2024 and 2032.

The rising frequency and intensity of weather-related disasters have generated a greater need for standby generators in a wide range of applications. Events like severe sleet storms, freezing rain, and strong winds have resulted in extended power failures, ranging from a few hours to several weeks. As a result, the market for generator sets has experienced substantial growth.
 

COVID– 19 Impact

The North America home standby gensets market remained unaffected by the COVID-19 pandemic. Instead, the industry has experienced a boost in its prospects owing to heightened consumer awareness regarding the need for dependable backup power solutions during lockdowns and disruptions. The increasing emphasis on uninterrupted power supply, coupled with the growing trend of remote work from home, has further complemented the industry growth.
 

North America Home Standby Gensets Market Trends

Power supply interruptions ranging from a few hours to weeks are primarily caused by severe weather conditions including sleet storms, high winds, and freezing rain, driving the industry potential. These weather-related events often lead to the damage of power lines and equipment, thereby driving the business outlook. The robust growth of residential construction, including apartments and duplexes, will have a positive impact on the industry's expansion. Additionally, the increasing population of senior nursing and housing properties represents another segment with significant potential for the adoption of these backup power units.
 

North America Home Standby Gensets Market Analysis

The diesel gensets industry will grow at a rate of 7.4% through 2032. These generators continue to be a popular choice for homeowners who prioritize reliability during power outages. Diesel engines are known for their durability and ability to provide consistent power for extended periods. These units provide sufficient power to keep an entire home or even a small business operational during an outage.
 

The > 10 kVA - 50 kVA home standby gensets market holds a market share of about 50% in 2022. These generators are commonly installed in apartments and residences to ensure a dependable power supply during emergency situations. Moreover, the notable shift in the role of these units, from being a secondary power source to becoming an essential necessity in many households, will significantly enhance the North America home standby gensets market outlook.
 

The single phase generator sets industry is set to surpass USD 2.5 billion by 2032. The demand for home standby generators has been on the rise owing to increasing concerns about power outages caused by severe weather events, aging infrastructure, and other factors. Homeowners are increasingly recognizing the importance of having a reliable backup power source.
 

The air-cooled home standby generator industry have gained popularity among homeowners due to their lower maintenance requirements and ease of installation compared to its available counterparts. They are often considered a more cost-effective solution for smaller residential properties.
 

The U.S. home standby gensets market exceeded USD 1.9 billion in 2022, driven by substantial investments in the housing sector and government-led electrification initiatives. Ongoing technological advancements, including remote operation and integration with smart home systems, are also contributing to this growth, responding to rising consumer demand for dependable power supply. In addition, the region is attracting substantial foreign investments and witnessing the emergence of upscale real estate projects, which further enhance the industry's growth outlook.
 

North America Home Standby Gensets Market Share

The major players operating in the North America home standby gensets market includes

• Cummins, Inc.
• Kirloskar
• Generac Power Systems, Inc.
• Caterpillar
• Eaton
• Champion Power Equipment
• HIMOINSA
• Powerica Limited
• Gillette Generators
• Briggs & Stratton
• Winco Generators
• PowerGen USA
• Xylem
• Absolute Generators
• Atlas Copco

North America Home Standby Gensets Industry News

• In January 2022, HIMOINSA launched the HS stationary of generators ranging up to 136 kVA. The company offers this series with modular & versatile design, making the stationary range as one of the most competitive products in the market. The company is continuously working on the introduction of advanced models allowing the company to extend its stationary range to higher power ratings.
   
• The 1990 revisions to the Clean Air Act (CAA) introduced the Operating Permit Program, which governs industrial sources responsible for emitting pollutants into the atmosphere. This program encompasses natural gas and diesel generators. Under the Operating Permit Program, individuals or organizations in charge of these generators are obligated to furnish details regarding the emissions of regulated pollutants into the air. Additionally, they must outline the measures and actions they need to undertake in order to minimize such pollution.
   

This North America home standby gensets market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2019 to 2032, for the following segments:

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By Power Rating

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

By Fuel

• Diesel
• Gas
• Others

By Phase

• Single Phase
• Three Phase

By Product

• Air Cooled
• Liquid Cooled

The above information has been provided for the following countries:

• U.S.
• Canada