Home Standby Gensets Market Growth Outlook with Industry Review & Forecasts 2024-2032

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Home Standby Gensets Market is expected to be USD
14.2 Billion by 2032
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Industry Overview

• Home Standby Gensets Market is set to grow
  significantly through 2032, primarily due to the
  unreliable grid infrastructure and the current
  refurbishment of TD networks. Besides, the
  frequency of extreme weather events is also
  increasing across the globe, which will drive the
  market demand in the next ten years. For
  instance, the number of cyclones in the Arabian
  sea has increased by a whopping 52 in the last
  two decades.
• Overall, the home standby gensets market has been
  segmented in terms of power rating, fuel, phase,
  product, and region.
• Based on the power rating, the home standby
  gensets market is defined through the gt 100 kVA
  segment. The segmental growth can be accredited
  to the increasing application of gensets across a
  range of devices, that are used to handle
  high-power loads.
• On the basis of fuel, the gas segment is set to
  witness significant gains through 2032, owing to
  the distinctive advantages of gas-powered home
  standby gensets such as durability, easy
  handling, and emission of low particulate matter.
  In addition, stringent government norms to limit
  carbon emissions, coupled with the abundant
  availability of natural gas will also drive the
  market demand between 2023 and 2032.

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Continue

• For instance, in December 2021, President Biden
  signed an executive order under which the country
  aims for net-zero emissions from overall federal
  operations by 2050. Besides, it is also seeking
  to reduce its carbon emissions by 65 by 2030.
• In terms of product, the liquid-cooled segment
  will gain significant traction over the next ten
  years. Liquid-cooled standby gensets are suitable
  for larger residential premises, that are often
  laced with heavy-load appliances. Besides, their
  ability to effectively provide backup to large
  internal loads will also drive the business
  outlook through 2032.
• In the regional context, the Asia Pacific home
  standby gensets market is anticipated to grow at
  a robust rate through 2032. The regional market
  growth can be accredited to the increasing
  preference for work-from-home culture in the APAC
  countries, which has increased the demand for an
  uninterrupted supply of electricity. As per the
  49th China Statistical Report on Internet
  Development, the number of China's remote
  employees surpassed 469 million as of December
  2021.
• Besides, steady economic growth in emerging
  economies along with rapid population growth will
  add impetus to the market demand. According to
  the International Monetary Fund, the economic
  growth in the Asia Pacific region is anticipated
  to increase from 4 in 2022 to 4.3 in 2023.

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Home Standby Gensets Market

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