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Single Phase Home Standby Gensets Market Size

Report ID: GMI9021
Published Date: Apr 2024
Report Format: PDF

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Single Phase Home Standby Gensets Market Size

Single Phase Home Standby Gensets Market was valued at USD 5.1 billion in 2023 and is anticipated to grow at a CAGR of over 6.8% from 2024 to 2032. The escalating severity of weather-related disasters along with a rise in the occurrence of extreme weather events will positively impact the industry landscape.

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A single-phase home standby genset refers to a system designed to provide backup power to residential properties during electrical outages. It indicates that the generator produces electrical power with a single alternating current waveform, suitable for powering typical household appliances and equipment. These generators are usually installed permanently outside the home and are connected directly to the electrical system, automatically activating when a power outage is detected and providing seamless backup power until the main power supply is restored.

Single Phase Home Standby Gensets Market Report Attributes
Report Attribute	Details
Base Year:	2023
Single Phase Home Standby Gensets Market Size in 2023:	USD 5.1 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.8%
2032 Value Projection:	USD 9.3 Billion
Historical Data for:	2021 - 2023
No. of Pages:	380
Tables, Charts & Figures:	1,090
Segments covered:	Power Rating, Fuel, Product & Region
Growth Drivers:	Increasing frequency of extreme weather events Extensive investments across the real estate sector Surging urbanization rate & increasing consumer propensity
Pitfalls & Challenges:	Growing proportion of renewable power generation

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of single phase home standby gensets was recorded USD 5.1 billion in 2023 and is expected to depict 6.8% CAGR from 2024 to 2032, on account of the escalating severity of weather-related disasters and the rising occurrence of extreme weather events.

The ? 10 kVA power rating segment in the single phase home standby gensets market is estimated to account for over USD 2.5 billion by 2032, led by the growing concerns about power outages owing to extreme weather events and grid instability.

Asia Pacific single phase home standby gensets industry is estimated to be worth over USD 3 billion by 2032, due to the rising number of real estate construction projects and the widespread embrace of smart homes.

Ashok Leyland, Caterpillar, Champion Power Equipment, Cummins, Eaton, Generac Power Systems, Gillette Generators, HIMOINSA, HIPOWER, Kirloskar, Kohler Co., Mahindra POWEROL, Powerica Limited, PR INDUSTRIAL, and Rolls-Royce plc are some of the major single phase home standby gensets companies worldwide.