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Standby Generator Sets Market Size

Report ID: GMI5967
Published Date: Nov 2024
Report Format: PDF

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Standby Generator Sets Market Size

The global standby generator sets market was valued at USD 26 billion in 2024 and is estimated to grow at a CAGR of 6.3% from 2025 to 2034. The growing demand for continuous power supply driven by factors including frequent power outages, natural disasters and an increasing dependence on technology is set to boost the product demand. Rising consumer awareness of power backup solutions coupled with a growing desire for improved comfort & security will further enhance the industry growth prospects.

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The standby generator sets are an automatic backup power system designed to supply electricity during outages. It consists of an engine and an alternator and is integrated into a building's or facility's electrical system. When utility power is restored, the generator transitions back to standby mode, ready for the next interruption. The industry is experiencing significant growth driven by the increasing need for reliable power solutions across residential, commercial and industrial sectors.

Standby Generator Sets Market Report Attributes
Report Attribute	Details
Base Year:	2024
Standby Generator Sets Market Size in 2024:	USD 26 Billion
Forecast Period:	2025 to 2034
Forecast Period 2025 to 2034 CAGR:	6.3%
2034 Value Projection:	USD 48.4 Billion
Historical Data for:	2021 – 2024
No. of Pages:	150
Tables, Charts & Figures:	45
Segments covered:	Power Rating, Fuel, Application and Region
Growth Drivers:	Increasing intensity & frequency of weather-related disasters Growing demand for uninterrupted power supply Increasing demand for uninterrupted power supply Expansion of the datacenter industry
Pitfalls & Challenges:	High capital & maintenance costs Shifting trend toward renewable power generation

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The global market for standby generator sets was reached USD 26 billion in 2024 and is estimated to grow at a 6.3% CAGR from 2025 to 2034, driven by the growing demand for continuous power supply.

The market for standby generator sets rated between 300 kVA and 500 kVA is expected to surpass USD 9 billion by 2034, driven by frequent power outages and natural disasters.

The gas standby generator sets market is anticipated to grow at a CAGR of over 6.5% through 2034, led by the emphasis on cleaner and more sustainable energy solutions.

The U.S. standby generator sets market is set to reach over USD 6.5 billion by 2034, propelled by extreme weather conditions, aging power infrastructure, and the need for uninterrupted power supply in critical sectors.

Major players include Ashok Leyland, Atlas Copco, Briggs and Stratton, Caterpillar, Cummins, Eaton, Generac Power Systems, Gillette, Himoinsa, Hipower, JCB, Kirloskar, Rhelko, MAHINDRA POWEROL, Powerica, Rolls-Royce, Wartsila, and Yamaha Motor.