Home Standby Gensets Market Growth
Home standby gensets market to garner substantial proceeds by 2025 subject to the availability of technologically-superior products, U.S. to be the chief growth terrain
The worldwide home standby gensets market share has been demonstrating an appreciable growth pattern in the recent years owing to severe weather conditions. Not to mention, the industry is also gaining traction due to continued underinvestment in the electric grid and the increasing demand for uninterruptible power supply from almost all energy-intensive business verticals. It has also helped that these gensets are recognized as cost-efficient and easier to install than the other alternatives of power generation.
North America Home Standby Gensets Market Size, By Fuel, 2018 & 2025 (USD Million)
The increasing consumer preference for home standby generators over portable home generators is fueling the home standby gensets market trends
In the last few years, the manufacturers of home standby generators have taken a lead in terms of technological advancement over the makers of portable home generators. Featuring A/C shedding and load management options, home standby gensets now allow longer maintenance intervals, muffle sound to residential-friendly levels, demonstrate economical usage of fuel, and are better on numerous other fronts compared to portable home generators. For instance, the Kohler 14RESAL is known as one of the quietest standby generators tested in the recent times. It comes with a transfer switch, a warning indicator, and an add-on module which enables the user to monitor the status of the generator from anywhere using a Windows PC.
Elaborating further on the various types of Kohler standby generators, it has been observed that these gensets are designed for a more permanent solution to power outages and can connect automatically in case of a blackout. Moreover, standby generators further run a weekly assessment test to verify if they can respond well to an outage. In this context, it has to be noted that there are many other brands of standby gensets other than Kohler standby generators which come equipped with advanced technical capabilities. For instance, the Generac 6237 is one such standby genset which has the feature of low-oil shutoff with a warning indicator. Apparently, the Generac standby generators provide 7,000 watts of power by utilizing natural gas and another 1,000 watts by utilizing propane.
All the aforementioned characteristics are missing in portable home generators which has driven up the sale of home standby gensets. In addition to this, the introduction of technologically-superior standby generators by prominent industry players is changing the face of the product range of this business vertical. Undeniably, these factors are bound to positively impact the remuneration scale of the global home standby gensets industry, which is forecast to exceed USD 5 billion by 2025, as per trusted estimates.
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How are the adverse consequences of climate change proving beneficial for the U.S. home standby gensets industry?
The U.S. has a very long history of hurricanes devastating its coastal states and disrupting the economy of the overall nation. While the number of hurricanes has remained nearly the same over the past few years, there is growing evidence that the warming of the atmosphere and upper ocean is creating conditions ripe for more destructive and fiercer hurricanes. The climate emergency is tinkering with hurricanes in different ways, resulting in a greater number of the most severe category four and five storms which predominantly vandalize the power transmission lines.
In view of such a scenario, standby gensets play a significant role in ensuring uninterrupted power supply across residential areas. Moreover, they are generally cheaper and quicker to install than solar systems or other alternative power sources. Therefore, the home standby gensets market has assumed an important place in the discussions about disaster preparedness and climate change. The revenue share of this business vertical in the U.S. is exhibiting an upward trajectory as can be observed in a comprehensive research report published by Global Market Insights, Inc. Apparently, the U.S. home standby gensets industry share is set to surpass the 1-billion-dollar mark by the year 2025.
Author Name : Saif Ali Bepari