North America Home Standby Gensets Market Analysis

North America Home Standby Gensets Market Analysis

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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.