Home Standby Gensets Market size to exceed $5 bn by 2025
Published Date: May 14, 2019 Authors: Ankit Gupta, Niharika Singh
Global Home Standby Gensets Market size will surpass USD 5 Billion by 2025, as reported in the latest study by Global Market Insights, Inc.
Intensifying weather-related power outages on account of deteriorating environmental conditions accompanied by growing significance of emergency preparedness measures amongst consumers will boost the global home standby gensets market growth. Moreover, growing inadequacy of grid infrastructure to cater to the elevating power demand will further create deployment prospects for these generators, most notably across power deficit regions.
The U.S. home standby gensets market size is set to exceed USD 1 billion by 2025. The deployment of these gensets is gaining momentum as the climate change increases the frequency and intensity of severe weather. For instance, in 2017, Hurricane Maria, a Category 4 storm vandalized over 80% of the Puerto Rico’s power transmission lines while leaving over 1.57 million electricity customers without power. Similar occurrences are amplifying the region’s reliance on standby units as a preparedness measure for future extreme weather conditions.
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Europe home standby gensets market size is predicted to expand over 5% by 2025. Ongoing expansion in the housing sector driven by sizeable real estate investments will stimulate the demand for these units. Moreover, growing focus of investors toward metropolitan regions offering opportunities to procure new assets will further create demand potential for these gensets. In addition, increasing consumer spending and growing awareness toward emergency backup power will drive the regional industry.
Liquid cooled home standby gensets market size is predicted to grow over 6% by 2025. These units are relatively high-priced and are operationally suitable for larger residential premises such as luxury homes, mansions, etc. that are equipped with heavy-load appliances and systems. These generator sets exhibit high efficiency and are therefore more robust and effective than their air-cooled counterparts.
Single phase home standby gensets market will witness growth on account of increasing customer awareness toward emergency backup power coupled with unreliable grid infrastructure. The application of these generator sets is primarily suitable for small or medium sized residential installations owing to their relatively low maintenance requirements and operational suitability for smaller power ranges. Economic viability to cater to the lower internal loads will strengthen the demand for these units.
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, Application Potential, Price Trend, Competitive Market Share & Forecast, 2019– 2025” in detail along with the table of contents:
Nigeria home standby gensets market size is anticipated to expand over 10% by 2025. High electricity costs, poor transmission & distribution networks, and rapid population growth are driving a strong demand for these gensets across the country. These units are being increasingly deployed across households to provide a reliable back-up, and a cost-effective power source.
Increasing disposable income resulting into rising residential investments will propel the home standby gensets market size. Increased dependency on electricity to operate essential circuits, such as those connected to the furnace, kitchen appliances, water heater, well pump, security system, garage-door opener, lights, etc. will continue to stimulate the demand for these units to avoid disruption in the day-to-day activities.
Notable industry participants operating in the global home standby gensets market include Generac, Kohler SDMO, Cummins, Briggs & Stratton, Kirloskar Oil Engines Limited (KOEL), Mahindra Powerol, Himoinsa, Caterpillar, MTU Onsite, Eaton, Siemens amongst others.
Global home standby gensets market research report includes in-depth coverage of the industry with estimates & forecast in terms of Units and USD from 2014 to 2025, for the following segments:
Global Home Standby Gensets Market, By Power Rating
- <10 kVA
- 10-50 kVA
- 50-100 kVA
- >100 kVA
Global Home Standby Gensets Market, By Fuel
- Natural Gas
Global Home Standby Gensets Market, By Phase
- Single Phase
- Three Phase
Global Home Standby Gensets Market, By Product
- Air Cooled
- Liquid Cooled
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Middle East
- Saudi Arabia
- South Africa
- Latin America