Home Standby Genset Market Research Report: By Power Output (Less than 50 kW, 50-100 kW, 100-500 kW, 500 kW or more), By Fuel Type (Gasoline, Diesel, Natural Gas, Propane, Hybrid (gasoline/propane)), By Cooling Type (Air-cooled, Water-cooled), By End-Use (Residential, Commercial, Industrial) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Forecast to 2032.

Home Standby Genset Market Overview

As per MRFR analysis, the Home Standby Genset Market Size was estimated at 9.57 (USD Billion) in 2022.The Home Standby Genset Market Industry is expected to grow from 10.07(USD Billion) in 2023 to 16.0 (USD Billion) by 2032. The Home Standby Genset Market CAGR (growth rate) is expected to be around 5.28% during the forecast period (2024 - 2032).

Key Home Standby Genset Market Trends Highlighted

The key market drivers for the home standby genset market include the increasing need for reliable backup power, the growing fear of prolonged power outages and the policies put in place to encourage the use of renewable energy sources. Standby gensets are being used by homeowners and businesses as a means to protect essential systems or operations during power outages caused by natural disasters, deteriorating infrastructure, or planned outages.

Some opportunities that can be taken advantage of are new technologies that improve generator efficiency, integrated remote operation and networking of generators, and advanced grid technologies. In addition, the improvement of battery storage and inverter technology has also made home standby gensets more reliable as part of decentralized power systems. Moreover, the evolving tendency towards self-reliant and off-grid living is raising the need for independent power systems.

Finally, moving to the recent developments in the home standby genset market as electric-powered automated systems, automated control TPW other than manual control, and control via mobile application/apple. These attributes enhance the ease of use and management of the gensets, hence making them more convenient. Additionally, due to their improved performance and environmental sustainability, the adoption of hybrid systems consisting of a genset, solar panels, and batteries is becoming common.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Home Standby Genset Market Drivers

Increasing demand for reliable backup power

Power cuts are becoming more frequent, and a growing number of people are buying electronic devices and appliances, which creates a demand for some kind of dependable backup power supply. One of the most comfortable and trustworthy investments for house owners is buying home standby gensets, which can be used to keep running all the essential equipment and devices in case of a power outage. It is anticipated that the Global Home Standby Genset Market Industry will expand in subsequent years.

Government incentives and regulations

Governments around the world are increasingly offering incentives and regulations to promote the adoption of home standby gensets. These incentives can include tax breaks, rebates, and grants, which can make home standby gensets more affordable for homeowners. Additionally, some governments are implementing regulations that require new homes to be equipped with backup power systems, which is further driving the growth of the home standby genset market.

Technological advancements

Advancements in technology are making home standby gensets more efficient, reliable, and affordable. For example, the development of new engine technologies has led to gensets that are more fuel-efficient and quieter than older models. Additionally, the integration of smart technology into home standby gensets allows for remote monitoring and control, making them easier to use and maintain.

Home Standby Genset Market Segment Insights

Home Standby Genset Market Fuel Type Insights

The Global Home Standby Genset Market is segmented based on fuel type into gasoline, diesel, natural gas, propane, and hybrid (gasoline/propane). Among these, the diesel segment held the largest market share in 2023, accounting for over 40% of the global revenue. Diesel generators are widely used in residential applications due to their reliability, durability, and ability to provide backup power for extended periods. The gasoline segment is expected to witness significant growth over the forecast period, owing to the increasing popularity of portable generators for recreational and camping purposes.The natural gas segment is anticipated to grow at a steady pace, driven by the growing adoption of natural gas-powered appliances and the availability of incentives for using clean energy sources. The propane segment is expected to remain relatively niche, but it is likely to gain traction in regions with limited access to natural gas infrastructure. The hybrid segment is expected to witness moderate growth, as it offers the benefits of both gasoline and propane generators.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Home Standby Genset Market Cooling Type Insights

The Global Home Standby Genset Market is segmented by cooling type into air-cooled and water-cooled. Air-cooled generators are more popular due to their lower cost and ease of maintenance. However, water-cooled generators are more efficient and have a longer lifespan. In 2023, the air-cooled segment accounted for around 60% of the Global Home Standby Genset Market revenue. The growth of the market is attributed to the increasing demand for backup power solutions due to the rising frequency of power outages.

Home Standby Genset Market End-Use Insights

The Global Home Standby Genset Market is segmented by End-Use into Residential, Commercial, and Industrial. The Residential segment is projected to hold the largest share of the market in 2024, owing to the increasing demand for reliable backup power in homes. The Commercial segment is also expected to witness significant growth, driven by the rising number of businesses and offices requiring uninterrupted power supply. The Industrial segment is expected to grow steadily as industries seek to protect their critical operations from power outages.

Home Standby Genset Market Regional Insights

The Global Home Standby Genset Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America and Europe are the dominant markets for home standby gensets, accounting for a significant share of the global revenue. The growth in these regions can be attributed to the increasing adoption of smart homes, rising demand for reliable backup power, and growing investments in infrastructure development. APAC is also witnessing significant growth in the home standby genset market, driven by increasing disposable income, urbanization, and government initiatives to promote renewable energy sources.South America and MEA are expected to see steady growth in the coming years due to rising demand for backup power in remote areas and increasing awareness about the benefits of home standby gensets.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Home Standby Genset Market Key Players And Competitive Insights:

Major players in the Home Standby Genset Market are constantly striving to gain a competitive edge through advancements in technology and strategic partnerships. Leading Home Standby Genset Market players focus on product innovation, such as integrating advanced features like remote monitoring and control capabilities, to enhance the user experience and cater to the evolving preferences of consumers. The Home Standby Genset Market industry, is characterized by intense competition, with key players vying for market share through aggressive marketing campaigns and strategic acquisitions. The Home Standby Genset Market development is driven by factors such as increasing demand for reliable backup power solutions due to frequent power outages and extreme weather events, as well as growing awareness about the benefits of home standby generators among homeowners. The Competitive Landscape of the Home Standby Genset Market is expected to remain dynamic, with new entrants emerging and existing players expanding their product portfolios to meet the evolving demands of the market.Generac Power Systems is a leading provider of home standby generators with a strong global presence. The company offers a wide range of generator models to meet the diverse needs of homeowners, from small portable units to large, fully automatic systems. Generac's commitment to innovation has resulted in numerous industry-leading technologies, such as its patented G-Force engine and PWRview monitoring system. The company's strong distribution network and established brand reputation have contributed to its success in the Home Standby Genset Market.Another prominent player in the Home Standby Genset Market is Kohler Power Systems. The company's extensive product line includes both air-cooled and liquid-cooled generators designed to provide reliable backup power for homes of all sizes. Kohler Power Systems has a global presence, with manufacturing facilities and distribution channels in multiple countries. The company's focus on quality and customer satisfaction has earned it a loyal customer base and a strong reputation in the industry. Kohler Power Systems continues to invest in research and development, aiming to enhance its product offerings and maintain its competitive position in the Home Standby Genset Market.

Key Companies in the Home Standby Genset Market Include

• Meccalte


• Cummins


• DuroMax


• Aksa Power Generation


• Socomec


• Generac Power Systems


• Briggs and Stratton


• Champion Power Equipment


• Pramac


• Eaton


• Ryobi Technologies


• Caterpillar


• Westinghouse Electric Corporation


• Kohler


• Honda Power Equipment Group

Home Standby Genset Market Industry Developments

The global home standby genset market is projected to reach USD 16.0 billion by 2032, exhibiting a CAGR of 5.28% from 2024 to 2032. Rising concerns over power outages, increasing adoption of smart home appliances, and growing investments in infrastructure development are driving market growth. The Asia-Pacific region is expected to hold the largest market share during the forecast period, driven by increasing urbanization and industrialization. Key players in the market include Generac, Briggs & Stratton, Kohler, and Honda. Recent industry developments include the launch of advanced genset models with enhanced features and the growing popularity of solar-powered gensets.

Home Standby Genset Market Segmentation Insights

Home Standby Genset Market Power Output Outlook

• Less than 50 kW


• 50-100 kW


• 100-500 kW


• 500 kW or more

Home Standby Genset Market Fuel Type Outlook

• Gasoline


• Diesel


• Natural Gas


• Propane


• Hybrid (gasoline/propane)

Home Standby Genset Market Cooling Type Outlook

• Air-cooled


• Water-cooled

Home Standby Genset Market End-Use Outlook

• Residential


• Commercial


• Industrial

Home Standby Genset Market Regional Outlook

• North America


• Europe


• South America


• Asia Pacific


• Middle East and Africa