What makes the U.S a viable avenue for high home standby genset sales?
The global home standby gensets market has been indicating an appreciable growth pattern over a while now, driven by severe weather conditions globally. Needless to mention, the industry is also gaining massive momentum recently due to constant underinvestment in the electric grid and the rising demand for uninterruptible power supply from almost all energy-intensive business domains.
Why are home standby gensets highly preferred over portable home generators?
Over the past few years, the producers of home standby generators have stood on a forefront in terms of technological developments over the makers of portable home generators, which is considered to be one of the profound reasons for increased adoption of home standby gensets.
Boasting of load management and alternating current shedding options, home standby gensets are now gaining widespread traction due to longer maintenance intervals, stifle sound to comply by residential levels, demonstrate economical use of fuel, and are considered to be better on various other fronts compared to portable home generators. For instance, Kohler 14RESAL is deemed to be one of the noiseless standby generators tested recently. The product is equipped with a transfer switch, an add on module, and a warning indicator which enables the user to analyze the status of generator from anywhere using a Windows PC.
An added on advantage of Kohler standby generators is that they run a weekly assessment test to verify if the gensets respond well to an outage. In this context, it is critical to mention that there are several other prominent brands of standby gensets other than Kohler which come equipped with advanced technical capabilities. Validity for the same is offered by Generac. Generac 6237 is a standby generator set which possesses the feature of low-oil shutoff along with a warning indicator.
Elaborating more on these gensets, company officials claim that Generac standby generators are able to generate over seven thousands of power by making use of natural gas while producing other thousand watts by utilizing propane and are also extensively used in various adverse climatic conditions.
Speaking of which, the aforementioned characteristics are generally missing in portable home generators which has driven up the sales of home standby gensets. Additionally, the introduction of technologically-advanced standby generators by industry biggies is transforming the face of the product line of this business vertical. These factors, irrefutably, are bound to impact the revenue shares of the global home standby gensets industry.
How are the climatic changes influencing the U.S. home standby gensets industry?
United States has a prolonged history of hurricanes distressing its coastal states and disrupting the economy of the overall country. Speaking of which, Hurricane Ike in the US had registered an overall revenue loss of USD 30 billion in 2008. While the number of hurricanes has remined nearly the same over the past few years, there is an expanding number of evidence that the warming of atmosphere and disruptions in upper ocean is creating conditions that are ripe for more fierce and destructive hurricanes.
In sight of such a scenario, standby gensets play a crucial role in ensuring constant power supply across various residential regions. Moreover, they are generally cheaper and easy to install compared to solar systems or other alternative renewable power sources. Therefore, the home standby gensets industry has assumed to take over an integral place in the discussions about climatic change and disaster preparedness and management. The revenue share of this business vertical in the U.S. is exhibiting an upward trajectory. According to a report published by Global Market Insights, Inc. the global home standby gensets market would exceed a valuation of USD 5 billion by 2025 end.