SELBYVILLE, Del., September 13, 2021 (Newswire.com) - Global home standby gensets market value is anticipated to surpass USD 8.5 billion by 2027, as reported in the latest study by Global Market Insights Inc. Escalating weather-related electricity outages owing to worsening environmental conditions along with rising importance of emergency readiness measures amongst end-users will complement the market outlook.
Ongoing development and expansion of ecological building projects along with stringent building efficiency standards are set to augment the home standby gensets industry landscape. Growing disposable income and increased standards of living have resulted in subsequent rise of investments in the residential sector, further boosting the business performance.
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Liquid cooled gensets market size is estimated to grow at a CAGR of over 7.5% from 2021 to 2027. These units are comparatively expensive and are operationally appropriate for bigger residential premises including villas, mansions, luxury homes, and light commercial buildings equipped with heavy-load electronic systems and appliances. Ongoing development of the residential building infrastructure comprising multifamily apartments and housing societies will propel the product demand.
Some of the major findings in global home standby gensets market report include:
- The rising demand for home standby gensets on account of their extensive utilization across domestic applications will propel the business landscape.
- Increasing risks of weather-related outages will accelerate the demand for home standby gensets.
- Rising demand for uninterrupted energy supply coupled with increasing reliance on electrical products for sustaining day to day operations driven by robust urbanization growth will propel the market scenario.
- Key players operating across the global home standby gensets industry include Generac, Cummins, Briggs & Stratton, HIMOINSA, and Eaton amongst others.
Browse key industry insights spread across 424 pages with 854 market data tables & 31 figures & charts from the report, "Home Standby Gensets Market Forecasts By Power Rating (< 10 kVA, 10 kVA - 50 kVA, 50 kVA - 100 kVA, > 100 kVA), Fuel (Diesel, Gas), Phase (Single Phase, Three Phase), Product (Air Cooled, Liquid Cooled), Industry Analysis Report, Regional Analysis, Application Potential, Competitive Market Share & Forecast, 2021 - 2027" in detail along with the table of contents:
Gas fuelled home standby gensets market share is anticipated to grow on account of the unit's ability to offer cleaner fuel substitute and low emission profile. In addition, the capability of these units to release lower particulate matter and nitrogen oxide when compared to diesel-fuelled alternatives will encourage the product penetration. Lack of adequate gas pipeline infrastructure may limit the applications of these gensets across emerging nations may impact the business landscape. However, the adoption of large-scale C&D pipeline projects across emerging economies will improve the industry dynamics.
An unforeseen outbreak of the novel coronavirus (COVID-19) has hit the global economy drastically. The pandemic delayed a wide range of projects including stick-built & modular houses, renovation & restructuring projects, thereby impacting the industry growth. However, growing urgency to cater to the demand for uninterrupted electricity supply across the healthcare sector for numerous development and expansion of residential healthcare establishments and quarantine centers to fight against the coronavirus and the flooding demand for minimum production will augment the business landscape.
Europe home standby gensets market size is projected to exceed the annual installation of over 170 thousand units by 2027. Continuous expansion and development in the housing sector propelled by significant real estate investments will fuel the product demand. Shifting emphasis of investors toward urban regions offering additional opportunities to acquire new assets will further create potential demand for the product.
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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Source: Global Market Insights Inc.