Home Standby Gensets Market Report

Market Insights

Home standby gensets market is likely to grow from USD 4.77 billion in 2021 to USD 8.4 billion by 2028 at a CAGR of 8.32% during the forecast period of 2022-2028.

What is home standby genset?

Home standby gensets help in uninterrupted power supply to homes or households during power outage. They run on natural gas, diesel, or liquid propane. The dependence of homes and businesses on power has increased over time. Emergency standby is extremely essential to maintain electricity supply to home or business. 

Market Dynamics

The prime factors contributing to the demand for home standby gensets are frequent power disruptions due to grid inadequacy, degrading resilience of the T&D infrastructure, and increasing demand for uninterrupted power supply.

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Key Players

Some of the major home standby genset manufacturers are-

• Briggs & Stratton
• Caterpillar
• Cummins
• Eaton Corporation
• Generac
• Honeywell International, Inc.
• Kirloskar Oil Engines Limited
• MTU Onsite Energy
• SDMO Industries
• Siemens AG
• others

Segment Analysis

By Product Type

Based on the product type, the market is segmented as air cooled and liquid cooled. Air cooled gensets dominated the market in 2021 and are expected to register a higher CAGR during the forecast period. Economical and simpler operation of these gensets along with the ability to cater to the moderate power requirements for residential usage to stimulate the market.

By Power Rating Type

Based on the power rating type, the market is segmented as less than 10 kVA, 10–50 kVA, 50–100 kVA, and more than 100 kVA. The 10–50 kVA segment is expected to remain dominant during the forecast period. The growth of the segment can be attributed to the preference of these gensets in residential application ranging from lower load applications such as kitchen appliances to larger load applications such as water heater, well pump, and central air-cooling units.  

By Phase Type

Based on the phase type, the market is segmented as single phase and three phase. Single phase gensets are expected to grow at a higher CAGR during the forecast period. Affordable price range with the ability to run basic appliances during grid failure are the key market drivers for single phase gensets in small and medium size households.

By Region

In terms of regions, Asia-Pacific is estimated to remain the largest and the fastest-growing market during the forecast period, driven by economic transformation and rapid urbanization. China dominated the region’s home standby gensets market, followed by India. Rising disposable income along with increased electric appliances uses in these countries to propel the market in coming years. The sale is expected to decline in 2020 due to the COVID-19 outbreak; before recovering from 2021 onwards. 

Market Scope & Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The home standby gensets market is segmented into the following categories. 

By Product Type:

• Air Cooled
• Liquid Cooled

By Power Rating Type:

• <10 kVA
• 10–50 kVA
• 50–100 kVA
• >100 kVA

By Fuel Type:

• Gas
• Diesel
• Others

By Phase Type:

• Single Phase
• Three Phase

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by fuel type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].