Home > Energy & Power > Electrical Equipment > Generator Sets > North America Home Standby Gensets Market

North America Home Standby Gensets Market Trends

Report ID: GMI6779
Published Date: Sep 2023
Report Format: PDF

Download Free Sample

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.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of home standby gensets in North America was worth USD 2.4 billion in 2023 and may exceed USD 5.6 billion by 2032, due to the rising frequency and intensity of weather-related disasters in the region.

The > 10 kVA - 50 kVA home standby gensets market held 60% revenue share in 2022, due to the rising shift in the role of these units, from being a secondary power source to becoming an essential necessity in many households.

U.S. home standby gensets industry size is estimated to surpass USD 1.9 billion in 2022 and is expected to witness significant growth from 2023 to 2032, owing to the substantial investments in the housing sector and government-led electrification initiatives in the nation.

Major players operating in the market are Cummins, Inc., Kirloskar, Generac Power Systems, Inc., Caterpillar, Eaton, Champion Power Equipment, HIMOINSA, Powerica Limited, Gillette Generators, Briggs & Stratton, and Winco Generators.