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North America Home Standby Gensets Market Trends

Report ID: GMI6779
Published Date: Dec 2024
Report Format: PDF

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North America Home Standby Gensets Market Trends

Power outages lasting from a few hours to several weeks are largely attributed to severe weather events including sleet storms, high winds, and freezing rain, which frequently damage power lines and equipment, boosting the industry potential. The strong growth in residential construction including apartments and duplexes will positively sway the home standby gensets industry. Furthermore, the rising number of housing facilities and flourishing real estate sector presents a promising market segment for the adoption of these backup power systems.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size for home standby gensets in North America reached USD 2.7 billion in 2024 and is projected to grow at a 7.6% CAGR from 2025 to 2034, driven by the increasing frequency of weather-related disasters.

The single-phase home standby gensets segment is anticipated to grow at a CAGR of over 7% through 2034, supported by their reliability and ability to power entire homes or small businesses during outages.

The U.S. market is projected to surpass USD 4 billion by 2034, fueled by significant investments in the housing sector and advancements in smart home system integration.

Key players in the market include Absolute Generators, Atlas Copco, Briggs & Stratton, Caterpillar, Champion Power Equipment, Cummins, Eaton, Generac Power Systems, Gillette Generators, HIMOINSA, Kirloskar, PowerGen USA, Powerica, Winco Generators, and Xylem.