North America Home Standby Gensets Market Size, Business Opportunities, Growth Analysis and Industry Outlook 2026
Category: #energy-and-environment  By Ronak Bora  Date: 2021-05-28
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North America Home Standby Gensets Market Size, Business Opportunities, Growth Analysis and Industry Outlook 2026

The North America home standby gensets market size is projected to grow robustly at a CAGR of over 6% between 2020-2026. Prevalence of outages due to hostile weather conditions and grid inadequacy is likely to propel North America home standby gensets market value. More importantly, palpable trend for uninterrupted power supply and demand for uptime power supply to help function crucial electronic loads across residential sector will muster up the confidence of stakeholders.

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With industry players showing traction for cleaner-burning fuels and renewables, home standby gensets have gained significant impetus in the past several years. Not to mention, governments’ regulations pertaining to fossil-fuel consumption will add fillip to the industry growth.

The following top trends are likely to help stakeholders boost their strategies in the landscape.

Air-cooled home standby gensets gain impetus

Residential customers in the U.S. and Canada are expected to show a liking for air-cooled standby generators as they are simpler and economical vis-à-vis other gensets and they tend to fall under the range of ≤ 22 kilowatts. Air-cooled home standby gensets market share is likely to be pegged at over 7% through 2026.

Meanwhile, demand for liquid cooled units has become more apparent among larger peripherals, such as luxury homes and mansions that are outfitted with heavy-load appliances and systems. Liquid cooled segment is projected to grow at a healthy CAGR of over 6% through 2026, mainly attributed to high efficiency and robustness vis-à-vis other counterparts.

Three phase units to witness significant demand

Demand for three phase units across luxury and premium housing establishments will remain bullish as trend for smart home systems, enhanced lighting & multiple HVAC and safety solutions continues to gain an uptick in the U.S. and Canada. It is worth mentioning that efficient power supply, material efficiency and high flexibility have all augured well for the adoption of three phase units.

With an uptick in the medium or small sized residential deployments, single phase generator sets are likely to be highly sought-after. Some of the dynamics such as low maintenance requirements, operational suitability and economic viability will work in favor of the industry size expansion.

<10 kVA rating products to gain ground

With an upsurge in the installation of standby units across small homes and regular apartments to function as an efficient emergency power resolution, <10 kVA gensets are likely to gain ground in the next half-a-decade. These units have the capability to power home appliances, including freezer, refrigerator, lights and sump pump. It is worth noting that the trend for emergency backup and a rise in consumer spending will fare well for leading companies gearing to propel their positions in North America.

The U.S. to remain a major genset market

An unprecedented demand for reliable and continuous power supply amidst hostile climate and inclement weather makes the U.S. a favorable investment hub in the region. For instance, Hurricane Maria—a category 4 storm—decimated around 80% power transmission lines across the Puerto Rico region in 2017, leaving more than 1.5 million people without power.

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Robust developments across the residential settings and considerable real estate fund flow have been in line with soaring consumer investments for emergency backup power supply. Installation of these gensets across households in the U.S. has become notable as dependence on electricity to function circuits connected areas, including security systems, kitchen appliances, garage-door, water heater, lights will continue to surge.

Amid poor transmission & distribution infrastructure and high cost of electricity at many places, home standby gensets will witness increased installation in some parts of the region through 2026.

Table of Contents (ToC) of the report:

Chapter 1.  Methodology and Scope

1.1. Methodology

1.2. Market definitions

1.3. Market estimates and forecast parameters

1.4. Data sources

1.4.1.  Primary

1.4.2.  Secondary

Chapter 2.  Executive Summary

2.1. North America home standby gensets market 3600 synopsis, 2015 – 2026

Chapter 3.  North America Home Standby Gensets Market Insights

3.1. Industry segmentation

3.2. Industry landscape, 2015 – 2026

3.3. Industry ecosystem analysis

3.3.1.  Vendor matrix

3.4. Innovation & sustainability

3.5. Regulatory landscape

3.6. Industry impact forces

3.6.1.  Growth drivers

3.6.2.  Industry pitfalls & challenges

3.7. Growth potential analysis

3.8. Porter's analysis

3.9. Competitive landscape, 2019

3.9.1.  Strategy dashboard

3.10.     PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1250/north-america-home-standby-gensets-market 

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Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

 

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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