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Three Phase Home Standby Gensets Market Trends

Report ID: GMI7658
Published Date: Dec 2023
Report Format: PDF

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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.

Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size of three-phase home standby gensets was reached USD 2.8 billion in 2023 and is projected to surpass USD 4.9 billion by 2032, owing to the rising intensity of weather-related disasters coupled with the increasing frequency of extreme weather events.

The gas segment held 40% revenue share of the three phase home standby gensets market in 2023 and is estimated to witness high demand through 2032, owing to its advantages, such as long operational life and easier handling.

Asia Pacific market for home standby generator sets was worth USD 538.1 million in 2023 and is set to exhibit robust growth between 2024 and 2032, attributed to the ongoing shift in dependence on electronics and electrical appliances.

Some of the leading three phase home standby genset companies are Cummins, Kohler Co., Kirloskar, Generac Power Systems, Rolls-Royce plc, Caterpillar, Eaton Mahindra POWEROL, Ashok Leyland, HIMOINSA, Gillette Generators, and HIPOWER, among others.