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Increasing consumer awareness of energy-efficient and eco-friendly solutions in tandem with a growing shift toward renewable energy systems will stimulate business potential. Emphasis on energy security and resilience paired with widespread adoption of efficient power sources will energize the industry dynamics. Moreover, the integration of remote monitoring capabilities in generator sets coupled with the development of residential infrastructure will strengthen the product adoption.
Key players include Ashok Leyland, Briggs & Stratton, Cummins, Eaton, Generac Power Systems, Gillette Generators, HIMOINSA, Honeywell International, KUBOTA Corporation, Mahindra POWEROL, Multiquip, PR Industrial, Rehlko, Winco, and Yamaha Motor.
The U.S. market is projected to exceed USD 250 million by 2034, propelled by rapid urbanization, infrastructure advancements, and the integration of smart home systems for real-time power management.
The diesel-fueled segment is anticipated to grow at over 6% CAGR through 2034, led by the demand for reliable backup power in rural and off-grid areas and the efficiency of air-cooled systems for prolonged operations.
The >10 kVA - 15 kVA rated segment is expected to surpass USD 550 million by 2034, supported by the rising frequency of extreme weather events and the need for sustainable power solutions in suburban and rural areas.
The global market for single-phase air-cooled home standby gensets was reached USD 691.8 million in 2024 and is projected to grow at a 6.3% CAGR from 2025 to 2034, driven by the increasing demand for efficient backup power systems in residential settings.