The U.S. home standby gensets market is anticipated to surpass USD 1 billion by 2025. Growing intensity and frequency of severe weather conditions driven by climate change will accelerate the deployment of these gensets. For instance, in 2017, a Category 4 storm Hurricane Maria, vandalized over 80% of the power transmission lines in Puerto Rico, while leaving nearly 1.5 million electricity consumers without power. These occurrences are increasing the region's dependence on standby backup power units as a preparedness measure toward future extreme weather conditions.
Single phase home standby generator sets market is set to witness robust growth on account of unreliable grid infrastructure along with rising consumer awareness toward emergency backup power. These gensets are primarily suitable for small and medium sized residential applications on account of their relatively lower maintenance and operational suitability for lower power ranges. Furthermore, economic feasibility of these units to cater to low internal loads will accelerate its deployment.
Browse key industry insights spread across 422 pages with 823 market data tables & 29 figures & charts from the report, “Global Home Standby Gensets Market Size By Power Rating (<10 kVA, 10 - 50 kVA, 50 – 100 kVA, >100 kVA), By Fuel (Gas, Diesel, Others), By Phase (Single Phase, Three Phase, By Product (Air Cooled, Liquid Cooled) Industry Analysis Report, Regional Analysis (U.S., Canada, Russia, UK, Germany, France, Spain, Austria, Italy, China, India, Australia, Japan, South Korea, Indonesia, Thailand, Philippines, Malaysia, Vietnam, Saudi Arabia, UAE, Qatar, Turkey, Iran, Oman, Egypt, Nigeria, Algeria, South Africa, Angola, Kenya, Mozambique, Mexico, Chile, Argentina, Brazil), Application Potential, Price Trend, Competitive Market Share & Forecast, 2019– 2025” in detail along with the table of contents:
Global Home Standby Gensets Market is set to exceed USD 5 billion by 2025. Growing severity of weather-related power outages owing to deteriorating environmental conditions coupled with growing awareness toward emergency preparedness measures amongst consumers is set to drive the global home standby gensets market. Furthermore, increasing inadequacy of the existing energy grid to cater to the escalating power demand will create positive prospects toward the deployment for these units, primarily across the power deficit regions.
Europe home standby generator sets market is anticipated to grow over 5% by 2025. Rapid expansion in the residential sector owing to sizeable investments in real estate will influence the demand for these gensets. Additionally, growing focus of investors toward urban regions offering opportunities to secure new assets will further generate demand potential for these units. Moreover, growth in consumer spending and rising awareness toward emergency power backup solutions will boost the regional industry.
Rising disposable income resulting into growing residential investments is set to boost the home standby gensets market growth. Growing dependency on electricity for the operation of essential circuits, including those connected to the kitchen appliances, furnace, water heater, security system, well pump, lights, garage-door opener, etc. will continue to impact the demand for these gensets to avoid disruption in the daily activities.
Nigeria home standby generator sets market is predicted to grow over 10% by 2025. Inadequate Transmission & Distribution (T&D) network, rapid population growth and high electricity costs, are driving a robust demand for these units across the region. These gensets are being progressively deployed across households to provide and a cost-effective and a reliable back-up power source.
Major companies participating actively in the home standby gensets industry include Kohler SDMO, Generac, Briggs & Stratton, Cummins, Mahindra Powerol, Himoinsa, Kirloskar Oil Engines Limited (KOEL), Caterpillar, Eaton, Siemens and MTU Onsite amongst others.
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