What is the future of Home Standby Gensets Market? Know Covid Impact on Size, Share & Forecasts

What is the future of Home Standby Gensets Market? Know Covid Impact on Size, Share & Forecasts

August 05, 2020

The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Standby Gensets Market.

It was estimated prior to this unanticipated outbreak that the Standby Gensets Market was likely to witness an impressive CAGR of 6.4% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.

For a more detailed breakdown of the COVID-19 impact on this Market, request a free sample of the report here: https://www.stratviewresearch.com/Request-Sample/974/home-standby-gensets-market.html

Market Share Analysis

Home Standby Gensets Market Share: By Product Type

Based on the product type, the market is segmented as air cooled and liquid cooled. Air cooled gensets dominated the market in 2019, and are expected to register a higher CAGR during the forecast period. Economical and simpler operation of these gensets along with the ability to cater to the moderate power requirements for residential usage to stimulate the market.

Home Standby Gensets Market Share: By Power Rating Type

Based on the power rating type, the market is segmented as less than 10 kVA, 10–50 kVA, 50–100 kVA, and more than 100 kVA. The 10–50 kVA segment is expected to remain dominant during the forecast period. The growth of the segment can be attributed to the preference of these gensets in residential application ranging from lower load applications such as kitchen appliances to larger load applications such as water heater, well pump, and central air-cooling units.  

Home Standby Gensets Market Share: By Phase Type

Based on the phase type, the market is segmented as single phase and three phase. Single phase gensets are expected to grow at a higher CAGR during the forecast period. Affordable price range with the ability to run basic appliances during grid failure are the key market drivers for single phase gensets in small and medium size households.

Home Standby Gensets Market Share: By Region

In terms of regions, Asia-Pacific is estimated to remain the largest and the fastest-growing market during the forecast period, driven by economic transformation and rapid urbanization. China dominated the region’s home standby gensets market, followed by India. Rising disposable income along with increased electric appliances uses in these countries to propel the market in coming years. The sale is expected to decline in 2020 due to the COVID-19 outbreak; before recovering from 2021 onwards.

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Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

Based on the research, a proper report is crafted with the following key features:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • COVID-19 Impact Assessment
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
  • Market trend and forecast analysis
  • Market segment trend and forecast
  • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
  • Attractive market segments and associated growth opportunities
  • Emerging trends
  • Strategic growth opportunities for the existing and new players
  • Key success factors 

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