PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1859657
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1859657
The generator market was valued at USD 25.31 billion in 2025 and is estimated to reach USD 33.45 billion by 2030, registering a CAGR of 5.7% during the forecast period.
| Scope of the Report | |
|---|---|
| Years Considered for the Study | 2021-2030 |
| Base Year | 2024 |
| Forecast Period | 2025-2030 |
| Units Considered | Value (USD Million) and Volume (Thousand Units) |
| Segments | Fuel type, application, sales channel, design, end user, power rating, and region |
| Regions covered | North America, Europe, Asia Pacific, South America, and the Middle East & Africa |
The increasing demand for uninterrupted and reliable power supply, rapid industrialization, and the rapidly expanding manufacturing sector are expected to augment the demand for generators. Furthermore, supportive government policies and incentives for renewable energy integration and energy efficiency encourage industrial and commercial adoption, boosting overall market growth.

"Fuel cells segment is projected to grow at the highest CAGR between 2025 and 2030."
By fuel type, the fuel cells segment is projected to record the highest CAGR in the generator market. Fuel cell generators are gaining traction globally due to their ability to deliver efficient and clean power generation. These systems use electrochemical conversion to produce electricity with minimal emissions, making them an ideal solution for sustainable and decentralized energy production. Advancements in fuel cell technology and the expanding availability of renewable hydrogen accelerate their adoption across industrial, commercial, and residential applications. As global economies prioritize decarbonization and energy transition goals, the demand for hydrogen-based fuel cell generators is expected to rise significantly. These systems are crucial in shaping a cleaner, more resilient, and sustainable global power landscape.
"Commercial is expected to be the second-largest end user segment in 2025."
The commercial segment is anticipated to emerge as the second-largest end user segment in 2025, driven by the critical need for uninterrupted operations. Diverse commercial sectors-IT & telecommunications, healthcare, data centers, hospitality, retail, and public infrastructure-fuel the demand for reliable backup power solutions to ensure business continuity and operational resilience. In these industries, even brief power interruptions can result in significant financial losses, data disruption, and safety concerns. Consequently, generators have become indispensable for maintaining seamless operations, particularly during peak demand periods or in regions where grid reliability remains inconsistent. By providing a stable and continuous power supply, generators are vital in safeguarding business assets, minimizing downtime, and enhancing overall operational efficiency across the commercial landscape.
"China is likely to exhibit the highest CAGR in the Asia Pacific generator market during the forecast period."
China is witnessing the highest growth rate in the global generator market, driven by a combination of structural, economic, and demographic factors. The large customer base and the strong presence of established domestic and international manufacturers continue to propel the market. Rapid urbanization and the ongoing migration from rural to urban areas have intensified the demand for robust infrastructure development, which in turn necessitates a stable and reliable power supply. As cities expand and industrial zones proliferate, the need for continuous and backup power has become increasingly critical. Generators are in high demand across construction sites, manufacturing facilities, commercial complexes, and energy-intensive urban centers, supporting the ongoing development and industrial modernization efforts across the country.
By Company Type: Tier 1 - 45%, Tier 2 - 30%, and Tier 3 - 25%
By Designation: C-Level Executives - 25%, Directors - 35%, and Others - 40%
By Region: North America - 10%, Europe - 15%, Asia Pacific - 60%, the Middle East & Africa - 10%, and South America - 5%
Note: Others include product engineers, product specialists, and engineering leads.
Note: The tiers of the companies are defined based on their total revenues as of 2023. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
Caterpillar (US), Cummins Inc. (US), Rolls-Royce Plc (UK), Mitsubishi Heavy Industries Ltd. (Japan), Generac (US), Wacker Neuson SE (Germany), Briggs & Stratton (US), Atlas Copco (Sweden), and Kirloskar (India) are some key players in the generator market.
The study includes an in-depth competitive analysis of these key players in the generator market, with their company profiles, recent developments, and key market strategies.
The report defines, describes, and forecasts the generator market by fuel type (Diesel, Gas, LPG, Biofuels, Coal Gas, Gasoline, Producer Gas, Fuel Cells), Application (Standby, Peak Shaving, Prime & Continuous), Sales Channel (Direct, Indirect), Design (Stationary, Portable), Power Rating (Up to 50 KW, 51-280 KW, 281-500 KW, 501-2,000 KW, 2,001-3,500 KW, Above 3,500 KW), End User (Industrial, Commercial, and Residential), and region (North America, South America, Europe, Asia Pacific, and Middle East & Africa). The report's scope covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the generator market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, services, and key strategies, such as contracts, partnerships, agreements, product/solution/service launches, mergers & acquisitions, and recent developments within the generator market. Competitive analysis of upcoming startups in the generator ecosystem is covered in this report.
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