Three Phase Home Standby Gensets Market Size - By Power Rating (< 10 kVA, > 10 kVA - 50 kVA, > 50 kVA - 100 kVA, > 100 kVA), By Fuel (Diesel, Gas), By Product (Air Cooled, Liquid Cooled) & Forecast, 2024 – 2032

Three Phase Home Standby Gensets Market Size

Three Phase Home Standby Gensets Market was valued at USD 2.8 billion in 2023 and is anticipated to expand at 6.5% CAGR from 2024 to 2032. The surging intensity of weather-related disasters along with increasing frequency of extreme weather events will result in an upward trend in the market. Furthermore, extreme weather events, aging power infrastructure, and grid vulnerabilities contribute to a growing need for reliable backup power solutions.
 

The significant increase in the extensive investments across the real estate sector will play a pivotal role in shaping the industry's demand dynamics. Rapid urbanization and increasing consumer propensity is proven to be influential for the growth of the market, thereby augmenting the growth for the three phase home standby gensets market. Additionally, the desire for uninterrupted power supply for critical appliances, medical equipment, and other essential services drives the demand for these generators. Top of Form
 

COVID– 19 Impact

The COVID-19 pandemic has not left a discernible mark on the industry, which is experiencing a growing embrace of the work-from-home paradigm. Simultaneously, heightened consumer awareness regarding the importance of uninterrupted power supply has contributed to a positive industry outlook. The increasing demand for emergency electricity backup, driven by the necessity to address frequent and substantial power outages initiated by local utilities, has further bolstered the global business landscape.
 

Three Phase Home Standby Gensets Market Trends

The areas with buried power lines are also prone to flooding by hurricane-related storm surges and heavy rains causing major power interruptions, accelerating the industry potential. Extreme weather mishaps and other natural hazards are rising owing to increasing urbanization rate and have  adversely affected the electricity sector, thereby escalating demand for home standby gensets. The consumers are actively resort to these gensets to immediately power appliances needing continuity of supply comprising of refrigerators, heating systems and other related equipment during a power outage.
 

Three Phase Home Standby Gensets Market Analysis

The > 10 kVA - 50 kVA three phase home standby gensets industry will witness 6.7% growth rate from 2024 to 2032. Wide scale utilization of these units to power basic essentials including hot water heaters, well pumps and multiple kitchen appliances will foster the product penetration. These rating systems have gained the strategic importance to address the unavoidable electricity deficits amongst other alternative backup sources.
 

The gas gensets industry captured around 40% revenue share in 2023. These gensets are set to witness an appreciable momentum owing to key advantages including long-operational life and easier handling. In addition, the ability of these gensets to emit lower particulate matter and Nox when compared to their available counterparts will propel the business growth. Abundant availability of natural gas along with stringent government norms to limit carbon emissions will stimulate the industry outlook. Top of Form
 

The liquid cooled home standby gensets industry is likely to reach USD 2 billion by 2032. Air-cooled generators are often more compact and have a smaller footprint compared to liquid-cooled alternatives. These systems are relatively high-priced and are operationally suitable for larger residential premises comprising of heavy-load appliances. Interoperability & ability of these units to effectually provide backup to large internal loads including central air conditioning, and other electrical appliances will amplify the business outlook.
 

• The Asia Pacific three phase home standby generator sets market valuation crossed USD 538.1 million in 2023, owing to a shift in dependence on electronics and electrical appliances, coupled with government initiatives supporting housing sector expansion. The rising number of real estate construction projects and the widespread adoption of smart homes will boost the penetration of these products.
   
• The demand for this sector is propelled by significant factors comprising of rapid urbanization and increasing consumer propensity initiatives, aging grid infrastructure coupled with rapid population growth. Moreover, technological advancements within the industry will introduce new products to the market, contributing to the overall sectoral growth.
   

Three Phase Home Standby Gensets Market Share

Mahindra Powerol is a prominent player in the power generation industry, specializing in manufacturing and marketing generators. The company has been known for producing a wide range of diesel generators, gas generators, and mobile lighting towers for various applications, including industrial, commercial, and residential use. It has gained recognition for its emphasis on quality, reliability, and innovation in the power generation sector.
 

Three Phase Home Standby Gensets Market Companies

The key industry players operating across the industry include:

• Cummins
• Kohler Co.
• Kirloskar
• Generac Power Systems
• Rolls-Royce plc
• Caterpillar
• Eaton
• Mahindra POWEROL
• Champion Power Equipment
• Ashok Leyland
• Powerica Limited
• HIMOINSA
• Gillette Generators
• PR INDUSTRIAL
• HIPOWER
   

Three Phase Home Standby Gensets Industry News

• In November 2022, Cummins entered into a partnership with Exergy Energy, a manufacturer of power backup solutions. Through the partnership, the client location will be able to run the entire operation when the grid is down or when demand is at its peak with the help of Cummins power system solutions including generator sets, energy storage systems, and switching equipment.
   
• In May 2022, Caterpillar has acquired Tangent Energy, a U.S.-based energy solutions provider. Specializing in smart energy solutions, Tangent Energy offers products aimed at delivering added value to customers. This strategic acquisition enhances Caterpillar's electric power products portfolio, allowing for improved customer services through the integration of Tangent's Energy-as-a-Service (EaaS) offerings.
   

This three phase home standby gensets market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2019 to 2032, for the following segments:

Click here to Buy Section of this Report

Market, By Power Rating

• ≤ 10 kVA
• > 10 kVA - 50 kVA
• > 50 kVA - 100 kVA
• > 100 kVA

Market, By Fuel

• Diesel
• Gas
• Others

Market, By Product

• Air Cooled
• Liquid Cooled

The above information has been provided for the following regions and country:

• North America
  • U.S.
  • Canada 
• Europe
  • Russia
  • UK
  • Germany
  • France
  • Spain
  • Austria
  • Italy
• Asia Pacific
  • China
  • Australia
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam
  • Philippines
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • Turkey
  • Iran
  • Oman
• Africa
  • Egypt
  • Nigeria
  • Algeria
  • South Africa
  • Angola
  • Kenya
  • Mozambique
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Chile