The global home standby gensets market is anticipated to grow at a CAGR of nearly 4.8% during the forecast period. The key factor that drives the market growth is increasing government efforts across the globe to bring electricity to regions that were previously off-grid. Several key industry players are also focusing on launching new products, establishing partnerships, and undertake acquisitions, in order to contribute to government initiatives and to enhancing market dynamics. For instance, in March 2021, Mahindra Powerol, one of the leading genset manufacturers, established a new production facility, GOEM Perfect Generators Technology Pvt Ltd, in India. The firm plans to manufacture its Perkin range of diesel generators at the facility to accommodate the surging demand for HkVA gensets. The expansion of its production capacity has enabled Powerol to extend its product offerings across untouched terrains.
The market players include Generac, Rolls-Royce Power Systems, Eaton, Champion, Mahindra Powerol, Powerica, HIMOINSA, Ashok Leyland, Sommers, and Kohler amongst others are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in Oct 2021, Generac Power Systems, Inc., energy technology solutions provider and manufacturer launched new Guardian® 26kW Home Standby Generator The Guardian 26kW generator provides 26 kilowatts of peak power, while taking up less space and offering thousands of dollars of savings on purchase and installation compared to competitive home standby generators.
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Market Coverage
- The market number available for – 2021-2030
- Base year- 2022
- Forecast period- 2023-2030
Segment Covered-
- By Composition
- By Manufacturing Process
- By End-User Industry
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- Cummins, Briggs & Stratton, Generac, Caterpillar, Honeywell, Rolls-Royce Power Systems, Eaton, Champion, Mahindra Powerol, Powerica, HIMOINSA, Ashok Leyland, Sommers, and Kohler amongst others.
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Home Standby Gensets Market Report by Segment
By Cooling System
- Air Cooled
- Liquid Cooled
By Power Rating Type
- <10 kVA
- 10-50 kVA
- 50-100 kVA
- >100 kVA
By Fuel Type
- Natural Gas
- Diesel
- Others
By Phase Type
- Single Phase
- Three Phase
Home Standby Gensets Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- Ashok Leyland
- Briggs and Stratton
- Caterpillar
- Champion Power Equipment
- Cummins
- Generac
- Himoinsa
- Kirloskar Oil Engines Limited
- Mahindra Powerol
- MTU Onsite Energy
- Powerica Ltd.
- SDMO Industries
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