The installation of these units is witnessing an increase as climate change influences the intensity and frequency of severe weather conditions. In 2017, Hurricane Maria, a Category 4 storm, damaged more than 80% of power transmission lines across the Puerto Rico region, leaving over 1.50 million power consumers without electricity. Similar climatic occurrences are increasing the region’s dependence on standby generator sets as a vigilance measure for potential extreme weather conditions.
Rapid development across the residential establishments favored by significant real-estate fund flow will augment the product demand. In addition, rising focus of investors pertaining to the metropolitan regions offering prospects to procure new assets will create demand for these units. Growing consumer investments and rising awareness subject to emergency backup power will complement the home standby gen-set market across North America.
High electricity cost, poor transmission & distribution infrastructure, and rising population are driving demand for these units across the region. These gen-sets are being increasingly installed across households to offer a cost-efficient power source and a reliable back-up. Furthermore, increasing inadequacy of grid network to cater to the soaring power demand will create installation prospects for these gen-sets, especially across power-deficit regions.
Growing disposable income, which results in increasing residential fund allocation, will help expand the home standby gen-set market across North America. Increased reliance on power to operate circuits, for instance those connected to kitchen appliances, water heaters, furnaces, security system, etc., will continue to augment the demand for these gen-sets to avoid interruption in everyday activities.
Liquid-cooled units are anticipated to witness growth of over 6% by 2025. These gen-sets are relatively overpriced and are operationally appropriate for larger residential peripherals, which include mansions, luxury homes, etc., outfitted with heavy-load systems and appliances. These units exhibit high efficiency and hence are more effective and robust than their other available counterparts, further escalating home standby gen-set market growth.
Single-phase models will witness impetus owing to rising customer awareness pertaining to emergency backup energy in line with unreliable grid network. The applicability of these units is primarily suitable for medium- or small-sized residential deployments due to their operational suitability for lower power ranges and comparatively low maintenance needs. Economic feasibility to cater to the smaller internal loads will reinforce the demand for these gen-sets.
The North America Home Standby Gensets Market research report includes in-depth coverage of the industry, with estimates & forecast from 2020 to 2026, for the following segments:
North America Home Standby Gen-Set Market Size, By Product
- Air-cooled
- Liquid-cooled
North America Home Standby Gen-Set Market Share, By Power Rating
North America Home Standby Gen-Set Market Value, By Fuel
- Gas
- Diesel
- Others
North America Home Standby Gensets Market Growth, By Phase
- Single-phase
- 3-phase
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