Global Home Standby Gensets Market is valued approximately at USD XX billion in 2020 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2021-2027. Power outages may cause inconveniences to homeowners, as appliances such as HVACs, refrigerators, lights, and security systems fail to operate. Home standby genset eliminates the chances of such inconveniences, thus ensuring the homeowners’ safety and convenience. Increasing weather-related electricity outages due to worsening environmental conditions and growing importance of standby for emergency amongst Products are the factors which are driving the growth of Home Standby Gensets market. Furthermore, development and expansion in ecological building projects along with strict building efficiency standards will be anticipating the growth of market in forecasted period. For instance: Tropical Storm Isaias swept the East Coast of the U.S. in July 2020. More than million humans had been left without power all through the storm. The outage persisted for days in a few places. In Connecticut, more than 4,000 humans lacked power even after a week after the Isaias storm. However, high cost of installation & maintenance services of gensets may impede market growth over the forecast period of 2021-2027.
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Global Home Standby Gensets market analysis on basis of region which includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is a significant region across the world in terms of market share due to increase in intensity and frequency of weather-related issues in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate over the forecast period 2021-2027, due to the major growth in uninterrupted power demand from ever-expanding urban population in the region.
Major market player included in this report are:
Briggs & Stratton
Rolls-Royce Power Systems
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Power Rating
< 10 kVA
10 kVA - 50 kVA
50 kVA - 100 kVA
> 100 kVA
Rest of the World
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