Overview and Scope
The home standby gensets also called generators for house usage can effortlessly transfer the process of supplying power to the home in the event of a power outage and then cease when the power is restored. It is used to provide power to households that experience regular power outages.
Sizing and Forecast
The home standby gensets market size has grown strongly in recent years. It will grow from <b>$4.46 billion in 2023 to $4.83 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. </b> The growth in the historic period can be attributed to increase in power reliability, rise in extreme weather events, rise in aging electrical infrastructure, increased power dependency, increase in healthcare needs.
The home standby gensets market size is expected to see strong growth in the next few years. It will grow to <b>$6.82 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. </b> The growth in the forecast period can be attributed to increasing home electrification, increasing climate change and natural disasters, increasing aging population, increasing energy transition, rising energy resilience. Major trends in the forecast period include smart technology integration, natural gas and propane fuel options, enhanced transfer switches, whole-house backup, portable standby generators.
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Segmentation & Regional Insights
The home standby gensets market covered in this report is segmented –
1) By Product Type: Air Cooled, Liquid Cooled
2) By Fuel Type: Natural Gas, Diesel, Other Fuel Types
3) By Phase Type: Single Phase, Three Phase
<b>North America</b> was the largest region in the home standby gensets market in 2023. The regions covered in the home standby gensets market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
Rapid urbanization is expected to propel the growth of the home standby gensets market going forward. Urbanization refers to the population shifted to the urban areas. Home standby generators are directly connected to the home's electrical system and can provide continuous power for days if required. The rapid urbanization had increased the use of home standby gensets as most of the urban people will be in need of home standby gensets. For instance, according to United Nations, department of economic and social affairs, the world’s population living in urban areas is expected to project at 68% by 2050, where 90% of this increase is taking place in African and Asia regions. Therefore, rapid urbanization is driving the growth of the home standby gensets market.
Key Industry Players
Major companies operating in the home standby gensets market include <b> Cummins Inc., Briggs & Stratton Corp., Generac Holdings Inc., Caterpillar Inc., Honeywell International Inc., Eaton Corporation plc, Mahindra Powerol Ltd., Powerica Limited, HIMOINSA Yanmar Company, Ashok Leyland Ltd., Kirloskar Oil Engines Limited, Siemens AG, Kohler Co. Inc., Rolls-Royce Power Systems AG, MTU Onsite Energy GmbH, DuroMax Power Equipment, Atlas Corp., Doosan Portable Power, Gelec HK Limited, Aurora Generators Inc., J.C. Bamford Excavators Limited, RID GmbH, Nationstar Mortgage Holdings Inc., JS Power Solutions Pvt. Ltd., Champion Power Equipment Inc., Westinghouse Electric Corporation, Yamaha Motor Co. Ltd., Honda Motor Co. Ltd., Subaru Corporation, WEN Products Inc., Pulsar Products Inc., Buffalo Corporation, SUMEC Group </b>
The home standby gensets market report table of contents includes:
1. Executive Summary
2.Home Standby Gensets Market Characteristics
3. Home Standby Gensets Market Trends And Strategies
4. Home Standby Gensets market analysis
5.Home Standby Gensets Market Size And Growth
6. Home Standby Gensets Segmentation
7.Home Standby Gensets Regional And Country Analysis
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27.Home Standby Gensets Competitive Landscape And Company Profiles
28.Home Standby Gensets Key Mergers And Acquisitions
29.Home Standby Gensets Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Cummins Inc.
- Briggs & Stratton Corp.
- Generac Holdings Inc.
- Caterpillar Inc.
- Honeywell International Inc.
- Eaton Corporation plc
- Mahindra Powerol Ltd.
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17th October, 2018 – Rising demand for high-value pleasure vessels such as yachts and cruise ships is estimated to drive the growth of Marine Gensets market over the next six years.
Additionally, increasing demand for commercial boats and ships engaged in transportation and trade is anticipated to trigger growth in the industry.
The demand for bio-diesel generator sets is estimated to escalate over the forecast period and is anticipated to contribute significantly to industry expansion.
Increasing emphasis on adoption of non-conventional & renewable sources of energy and the need for minimizing vessel emissions can be attributed as a major reason for rise in demand for bio-diesel generator sets.
Rising oil prices and high maintenance costs are expected to affect the demand for diesel based gensets.Request a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/marine-gensets-market/request-sampleThe marine gensets market can be classified on the basis of end-use vertical into three types; pleasure or leisure, commercial, and defense vessel segments.
Pleasure vessels include cruise ships, ferries, sports & sailing yachts, ocean liners, and catamaran watercrafts.
Standby Generators Market Insights 2019, Global and Chinese Scenario is a professional and in-depth study on the current state of the global Standby Generators industry with a focus on the Chinese market.
The report provides key statistics on the market status of the Standby Generators manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.Overall, the report provides an in-depth insight of 2014–2024 global and Chinese Standby Generators market covering all important parameters.The key ponits of the report:The report provides a basic overview of the industry including its definition, applications and manufacturing technology.The report explores the international and Chinese major industry players in detail.
In this part, the report presents the company profile, product specifications, capacity, production value, and 2014–2019 market shares for each company.Through the statistical analysis, the report depicts the global and Chinese total market of Standby Generators industry including capacity, production, production value, cost/profit, supply/demand and Chinese import/export.The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.The report then estimates 2019–2024 market development trends of Standby Generators industry.
Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out.The report makes some important proposals for a new project of Standby Generators Industry before evaluating its feasibility.Key questions addressed by the report Where will all these developments take Standby Generatorsin the mid- to long-term?What are the upcoming technological trends in the Standby Generatorsmarket?What are the opportunities for various players that exist at present and those that are planning to enter at different stages of the value chain?How growth strategies implemented by key players will impact the growth rate of the Standby Generatorsmarket, and who will have the undue advantage?What are the current adoption trends of the Standby Generatorsmarket?Report Sample includes:- Table of Contents- List of Tables & Figures- Charts- Research MethodologyGet FREE Sample of this Report at https://www.24marketreports.com/report-sample/global-stby-generators-2019-2024-833There are 3 key segments covered in this report: competitor segment, product type segment, end use/application segment.For competitor segment, the report includes global key players of Standby Generators as well as some small players.
At least 16 companies are included:CaterpillarCummins Power SystemsGeneracHonda PowerMTUBriggs& StrattonThe information for each competitor includes:Company ProfileMain Business InformationSWOT AnalysisSales, Revenue, Price and Gross MarginMarket ShareFor product type segment, this report listed main product type of Standby Generators market in gloabal and china.Natural gas or liquid propaneAir-cooled vs.
Liquid CooledFor end use/application segment, this report focuses on the status and outlook for key applications.
