Gas Home Standby Gensets Market

Gas Home Standby Gensets Market Size

Gas Home Standby Gensets Market was valued at USD 3.1 billion in 2023 and is projected to grow at over 7.4% CAGR from 2024 to 2034. Increasing awareness and concern for power reliability at home, particularly during emergencies or power outages will foster the industry growth. For instance, in 2022, during the Europe's energy crisis, the typical duration of power outages for each connected end consumer averaged 12.2 minutes.

Growing frequency and intensity of weather-related events have also contributed to the need for reliable backup power solutions, making gas home standby gensets a viable choice. The abundant availability of natural gas along with robust expansion of infrastructure will augment the business landscape. Surging concerns about environmental sustainability and the need to reduce greenhouse gas emissions will drive the industry potential.

COVID– 19 Impact

The COVID- 19 pandemic has not shown any significant adverse effects on the industry. The growing adoption of the work-from-home model, coupled with heightened consumer awareness regarding uninterrupted power supply, has bolstered the industry's prospects. The increasing demand for backup electricity solutions to address frequent and substantial power outages initiated by local utilities has also contributed to the positive trend in the global business landscape.

Gas Home Standby Gensets Market Trends

The surge in investments across the real estate sector and unreliable grid infrastructure has led the residential sector to be dependent on the generator sets. The susceptibility of power networks to extensive blackouts caused by events such as cyber-attacks and cascading power failures presents substantial business prospects. The growing dependence on electrical and electronic equipment to support daily operations across various applications will drive the deployment of related products. Additionally, the rising consumer preference for enhanced reliability and zero downtime will positively influence the industry landscape.

Gas Home Standby Gensets Market Analysis

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The ≤ 10 kVA home standby gensets market will witness 7.5% growth rate till 2034. The increasing consumer inclination toward compact and easily portable systems is expected to drive the widespread adoption of such units. These products provide significant benefits, such as being lightweight, operationally versatile, and having a minimal surface footprint, thereby boosting their prominence in the industry. The capacity of these units to efficiently meet consumer power needs will further contribute to their penetration and growth within the industry.

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The three phase home standby gensets industry holds a share of 60% in 2023. These units offer key advantages, including compact size, lightweight design, and high efficiency, thereby stimulating business potential. The increasing awareness among customers regarding backup power sources, coupled with the demand for a reliable power infrastructure will further propel the industry growth.

The air cooled gas home standby gensets industry is set to surpass USD 3.5 billion by 2034. These generators are typically more compact and occupy a smaller footprint when compared to liquid-cooled gensets. These systems come at a relatively higher cost and are well-suited for larger residential properties that include heavy-load appliances. Furthermore, these units provide immediate power to appliances that require a continuous supply, including refrigerators, heating systems, and other related equipment during power outages, resulting a surge in their demand.

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• The North America gas home standby gensets market surpassed USD 1.5 billion in 2023. The rise in frequency of weather related disasters in line with ongoing refurbishment of T&D networks has contributed to shaping the demand curve for the industry. For instance, the U.S. was affected by 3 tropical cyclones in the year 2022.
  
• Continued technological advancements enabling remote access operation and seamless integration with smart home systems, coupled with a rising consumer demand for dependable, high-quality power supply, are poised to drive substantial growth in the industry. The area is experiencing significant inflows of foreign investments and a surge in development initiatives focused on luxury real estate projects. This trend is expected to contribute significantly to the expansion of business in the region.
  

Gas Home Standby Gensets Market Share

The key players in the gas home standby gensets industry are strategically emphasizing marketing initiatives, technological advancements, brand recognition, and operational efficiencies to navigate the competitive market effectively. Their primary focus is on developing intelligent designs for standby gensets, integrating advanced technological features, and enhancing ergonomic capabilities within gas home standby genset solutions.

Generac Power Systems is a leading manufacturer of power generation and engine-powered products. The company specializes in the design and production of standby generators, portable generators, pressure washers, and related equipment. With a focus on providing reliable and innovative power solutions. Its generators are widely used for residential, commercial, and industrial applications, offering backup power solutions to ensure electricity availability during outages or in remote locations.

Gas Home Standby Gensets Market Companies

The key market players operating across the industry include:

• Generac Power Systems
• Kohler Co.
• Briggs & Stratton Corporation
• Cummins Inc.
• Honeywell International Inc.
• Eaton Corporation
• Champion Power Equipment
• Westinghouse Electric Corporation
• Winco Inc.
• Firman Power Equipment
• Duromax Power Equipment
• Yamaha Motor Co., Ltd.
• Honda Motor Co., Ltd.
• Caterpillar Inc.
• WEN Products
• Lifan Power USA
• Atlas Copco AB
• Blue Star Power Systems
• Himalayan Power Machines Mfg. Co.
• Pulsar Products Inc.
  

Gas Home Standby Gensets Market News

• In January 2024, Champion Power Equipment introduced their new 22 kW home standby generator, offers unparalleled reliability, ensuring uninterrupted power during storms and outages. This advanced system operates 24/7 with automatic features, including an Automatic Transfer Switch (ATS) for seamless power transitions. With capacities ranging from 8 kW to 22 kW, fueled by natural gas or propane, it provides a permanent and weather-resistant solution. Equipped with monitoring, diagnostic features, and power management, this generator guarantees a smoothly running household, reflecting a cutting-edge and dependable power solution for homeowners.
  
• In November 2023, Briggs & Stratton Energy Solutions expanded its home standby generator lineup with the introduction of three new models, 13kW, 18kW, and 22kW. These additions, alongside the existing 26kW air-cooled standby generator, provide reliable power solutions for various homeowner needs. The generators maximize power output on natural gas, catering to most American homeowners with natural gas access. Powered by the Vanguard engine, these generators offer continuous operation and include Eco-Cise smart weekly test mode, reducing noise and fuel consumption. Briggs & Stratton's PowerProtect lineup is designed for both liquid propane and natural gas, backed by an industry-leading warranty.
  

This gas home standby gensets market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” & “USD” from 2019 to 2034, for the following segments:

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Market, By Power Rating

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

Market, By Phase

• Single phase
• Three phase

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
  • Saudi Arabia
  • UAE
  • Qatar
  • Turkey
  • Iran
  • Oman
• Africa
  • Egypt
  • Nigeria
  • Algeria
  • South Africa
  • Angola
  • Kenya
  • Mozambique
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Chile