Home Standby Gensets Market Share, Size, Trends, Industry Analysis Report, By Phase (Single Phase, Three Phase); By Fuel (Diesel, Gas, Others); By Product; By Power Rating (< 10 kVA, 10 kVA - 50 kVA, 50 kVA - 100 kVA, > 100 kVA; By Region; Segment Forecas
Description
The global home standby gensets market size is expected to reach USD 19.25 billion by 2034, according to a new study by Polaris Market Research. The report “Home Standby Gensets Market Share, Size, Trends, Industry Analysis Report, By Phase (Single Phase, Three Phase); By Fuel (Diesel, Gas, Others); By Product; By Power Rating (< 10 kVA, 10 kVA - 50 kVA, 50 kVA - 100 kVA, > 100 kVA; By Region; Segment Forecast, 2025 - 2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The key factors responsible for the industry growth include increased weather-related electrical interruptions due to improving environmental conditions and the growing importance of emergency preparedness measures among end-users. For instance, according to Climate Central, Extreme weather fuelled by climate change affects the aging electrical grid in the United States, resulting in large-scale power outages. Extreme weather regularly damages the old electrical grid, costing Americans and the economy tens of billions each year and affecting public health.
Further, since 2000, there has been a 67 % large power outage due to weather-related events, according to Climate Central’s national power outage data analysis. In recent years, two-thirds of states (34 states plus Washington, D.C.) have seen increased disruptions caused by extreme weather. The amount of weather-related power outages varies by country’s area, with the Northeast and Southeast experiencing the most disorders.
Thus, the rising electric disturbance across the globe, such as a tornado, hurricane/tropical storms, ice storm, lightning, wind/rain, or other cold weather, among others, has led to an increase in the demand for the industry, which is boosting the industry growth during the forecast period.
Based on the fuel, the gas-based segment accounted for the leading share in the industry in 2021. Concerns about energy security, problems with fossil-fuel consumption, and increasing inclinations toward renewables and green fuels will benefit the demand for the segment. Moreover, as more low-emission units comply with existing industry standards, the gas generator business environment will improve.
With indefinite nationwide lockdowns and a severe limit on public mobility, the unexpected spread of COVID-19 has stopped several industrial operations across all economies. Meanwhile, the ongoing digital revolution will positively influence the industry share, attributable to an increase in industrial automation and technical advancements.
Major players include Honeywell International Inc., Champion Power Equipment, SDMO Industries, DuroMax Power Equipment, Siemens AG, Kirloskar Oil Engines Limited, Mahindra Powerol, Eaton Corporation, Powerica Ltd., and Ashok Leyland are some key players operating in the global market.
Polaris market research has segmented the home standby gensets market report based on power rating, fuel, phase, product, and region:
Home Standby Gensets, Power Rating Outlook (Revenue - USD Billion, 2020 - 2034)
<10 kVA
10 kVA – 50 kVA
50 kVA – 100 kVA
>100 kVA
Home Standby Gensets, Fuel Outlook (Revenue - USD Billion, 2020 - 2034)
Diesel
Gas
Others
Home Standby Gensets, Phase Outlook (Revenue - USD Billion, 2020 - 2034)
Single Phase
Three Phase
Home Standby Gensets, Product Outlook (Revenue - USD Billion, 2020 - 2034)
Air Cooled
Liquid Cooled
Home Standby Gensets, Regional Outlook (Revenue - USD Billion, 2020 - 2034)
North America
U.S.
Canada
Europe
France
Germany
UK
Italy
Netherlands
Russia
Spain
Asia Pacific
China
India
Japan
Malaysia
South Korea
Indonesia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
The key factors responsible for the industry growth include increased weather-related electrical interruptions due to improving environmental conditions and the growing importance of emergency preparedness measures among end-users. For instance, according to Climate Central, Extreme weather fuelled by climate change affects the aging electrical grid in the United States, resulting in large-scale power outages. Extreme weather regularly damages the old electrical grid, costing Americans and the economy tens of billions each year and affecting public health.
Further, since 2000, there has been a 67 % large power outage due to weather-related events, according to Climate Central’s national power outage data analysis. In recent years, two-thirds of states (34 states plus Washington, D.C.) have seen increased disruptions caused by extreme weather. The amount of weather-related power outages varies by country’s area, with the Northeast and Southeast experiencing the most disorders.
Thus, the rising electric disturbance across the globe, such as a tornado, hurricane/tropical storms, ice storm, lightning, wind/rain, or other cold weather, among others, has led to an increase in the demand for the industry, which is boosting the industry growth during the forecast period.
Based on the fuel, the gas-based segment accounted for the leading share in the industry in 2021. Concerns about energy security, problems with fossil-fuel consumption, and increasing inclinations toward renewables and green fuels will benefit the demand for the segment. Moreover, as more low-emission units comply with existing industry standards, the gas generator business environment will improve.
With indefinite nationwide lockdowns and a severe limit on public mobility, the unexpected spread of COVID-19 has stopped several industrial operations across all economies. Meanwhile, the ongoing digital revolution will positively influence the industry share, attributable to an increase in industrial automation and technical advancements.
Major players include Honeywell International Inc., Champion Power Equipment, SDMO Industries, DuroMax Power Equipment, Siemens AG, Kirloskar Oil Engines Limited, Mahindra Powerol, Eaton Corporation, Powerica Ltd., and Ashok Leyland are some key players operating in the global market.
Polaris market research has segmented the home standby gensets market report based on power rating, fuel, phase, product, and region:
Home Standby Gensets, Power Rating Outlook (Revenue - USD Billion, 2020 - 2034)
<10 kVA
10 kVA – 50 kVA
50 kVA – 100 kVA
>100 kVA
Home Standby Gensets, Fuel Outlook (Revenue - USD Billion, 2020 - 2034)
Diesel
Gas
Others
Home Standby Gensets, Phase Outlook (Revenue - USD Billion, 2020 - 2034)
Single Phase
Three Phase
Home Standby Gensets, Product Outlook (Revenue - USD Billion, 2020 - 2034)
Air Cooled
Liquid Cooled
Home Standby Gensets, Regional Outlook (Revenue - USD Billion, 2020 - 2034)
North America
U.S.
Canada
Europe
France
Germany
UK
Italy
Netherlands
Russia
Spain
Asia Pacific
China
India
Japan
Malaysia
South Korea
Indonesia
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Table of Contents
113 Pages
- 1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
- 2. Executive Summary
- 2.1. Market Highlights
- 3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
- 4. U.S. Ocean Economy Market Insights
- 4.1. U.S. Ocean Economy Market – Market Snapshot
- 4.2. U.S. Ocean Economy Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Rising Consumption of Oil and Gas
- 4.2.1.2. Growing Seafood Demand
- 4.2.2. Restraints and Challenges
- 4.2.2.1. High Capital Investment Requirements for Infrastructure Development
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. U.S. Ocean Economy Market Trends
- 4.6. Value Chain Analysis
- 5. U.S. Ocean Economy Market, by Industry Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. U.S. Ocean Economy Market, by Industry Type, 2020-2034 (USD Billion)
- 5.3. Marine Transport and Shipping
- 5.3.1. U.S. Ocean Economy Market, by Marine Transport and Shipping, by Region, 2020-2034 (USD Billion)
- 5.4. Marine Tourism and Recreation
- 5.4.1. U.S. Ocean Economy Market, by Marine Tourism and Recreation, by Region, 2020-2034 (USD Billion)
- 5.5. Fisheries and Aquaculture
- 5.5.1. U.S. Ocean Economy Market, by Fisheries and Aquaculture, by Region, 2020-2034 (USD Billion)
- 5.6. Offshore Oil and Gas
- 5.6.1. U.S. Ocean Economy Market, by Offshore Oil and Gas, by Region, 2020-2034 (USD Billion)
- 5.7. Government
- 5.7.1. U.S. Ocean Economy Market, by Government, by Region, 2020-2034 (USD Billion)
- 5.8. Others
- 5.8.1. U.S. Ocean Economy Market, by Others, by Region, 2020-2034 (USD Billion)
- 6. Competitive Landscape
- 6.1. Expansion and Acquisition Analysis
- 6.1.1. Expansion
- 6.1.2. Acquisitions
- 6.2. Partnerships/Collaborations/Agreements/Exhibitions
- 7. Company Profiles
- 7.1. A.P. Moller – Maersk
- 7.1.1. Company Overview
- 7.1.2. Financial Performance
- 7.1.3. Product Benchmarking
- 7.1.4. Recent Development
- 7.2. ABB Group
- 7.2.1. Company Overview
- 7.2.2. Financial Performance
- 7.2.3. Product Benchmarking
- 7.2.4. Recent Development
- 7.3. DNV GL
- 7.3.1. Company Overview
- 7.3.2. Financial Performance
- 7.3.3. Product Benchmarking
- 7.3.4. Recent Development
- 7.4. General Electric
- 7.4.1. Company Overview
- 7.4.2. Financial Performance
- 7.4.3. Product Benchmarking
- 7.4.4. Recent Development
- 7.5. Ocean Infinity
- 7.5.1. Company Overview
- 7.5.2. Financial Performance
- 7.5.3. Product Benchmarking
- 7.5.4. Recent Development
- 7.6. Royal Dutch Shell
- 7.6.1. Company Overview
- 7.6.2. Financial Performance
- 7.6.3. Product Benchmarking
- 7.6.4. Recent Development
- 7.7. Schneider Electric
- 7.7.1. Company Overview
- 7.7.2. Financial Performance
- 7.7.3. Product Benchmarking
- 7.7.4. Recent Development
- 7.8. Siemens Gamesa Renewable Energy
- 7.8.1. Company Overview
- 7.8.2. Financial Performance
- 7.8.3. Product Benchmarking
- 7.8.4. Recent Development
- 7.9. Thales Group
- 7.9.1. Company Overview
- 7.9.2. Financial Performance
- 7.9.3. Product Benchmarking
- 7.9.4. Recent Development
- 7.10. The Ocean Cleanup
- 7.10.1. Company Overview
- 7.10.2. Financial Performance
- 7.10.3. Product Benchmarking
- 7.10.4. Recent Development
Pricing
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