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How has the Market Size of Home Standby Gensets Evolved, and What is the Growth Forecast?
The home standby gensets market has seen solid growth in recent years blooming from $4.75 billion in 2024 to $5.11 billion in 2025 with a compound annual growth rate (CAGR) of 7.6%. Factors fueling this growth include the rise in extreme weather events, aging electrical infrastructure, increased power dependency, and an increase in healthcare needs.
The market is predicted to continue to thrive over the next few years, reaching a robust $7.3 billion in 2029 at a CAGR of 9.3%. This growth is attributed to increasing home electrification, a rise in natural disasters, an aging population, energy transition, and a demand for energy resilience. Significant trends expected to reshape this market include smart technology integration, natural gas and propane fuel options, enhanced transfer switches, whole-house backup, and portable standby generators.
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What is Propelling the Growth of the Home Standby Gensets Market?
Rapid urbanization is a key driver behind this market’s growth. As more people move to urban areas, the demand for home standby generators, which are directly connected to a home’s electrical system and can provide continuous power for days, surges. Urban populations are particularly in need of these gensets, and their growth is expected to be significant. The United Nations Department of Economic and Social Affairs anticipates that by 2050, 68% of the world’s population will live in urban areas, with 90% of this increase occurring in African and Asian regions.
What Are the Key Segments Within the Home Standby Gensets Market?
– By Product Type: Air Cooled, Liquid Cooled
– By Fuel Type: Natural Gas, Diesel, Other Fuel Types
– By Phase Type: Single Phase, Three Phase
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Which Companies are Dominating the Home Standby Gensets Market?
Noteworthy companies operating in the home standby gensets market include 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., RID GmbH, 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.
What are the Latest Trends in the Home Standby Gensets Market?
Companies in this market are increasingly focusing on introducing high-power generators for house usage, such as the Home Energy Storage System (HESS) product series. These systems store renewable energy for residential use, optimize energy consumption, boost energy independence, and reduce electricity expenses. For instance, US-based Generac Holdings launched PWRcell 2 and PWRcell 2 MAX in September 2024 which seamlessly integrate with Generac’s generators.
Which Region is Forecasted to Lead the Home Standby Gensets Market?
North America was the top region in the home standby gensets market in 2024, followed by Asia-Pacific, Western Europe, Eastern Europe, South America, and Middle East and Africa.
What is the Home Standby Gensets Market and what does the 2025 Report Offer?
Home standby gensets, also known as generators for house usage, transfer the process of supplying power to a home in the event of a power outage and stop when power is restored. They are used primarily in households that experience regular power outages. The Home Standby Gensets Market from The Business Research Company provides global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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