According to a research report “Generator Market by Fuel Type (Diesel, Gas, LPG, Biofuel), 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), Application, End User, Design, Sales Channel, and Region – Global Forecast to 2030″, the generator market is projected to grow from USD 25.31 billion in 2025 to USD 33.45 billion by 2030, at a CAGR of 5.7% during the forecast period.
A key driver for the generator market is the increasing demand for a steady and continuous power supply in key sectors, as healthcare, telecommunication, and information technology. The power interruptions, the aging grid infrastructure, and urbanization also augment the use of generators as a reliable backup power source. Rapid industrialization and major infrastructure developments, such as the creation of new buildings, roads, and airports also bolster the adoption of generators. Additionally, the strong focus on renewable energy integration and hybrid generator systems facilitates the transition to less polluting, more energy-efficient power systems.
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Standby application segment is expected to capture the largest share of the generator market in 2030
The standby application segment is projected to hold the largest market share in 2030. This development is mostly prompted by the necessity of dependable backup power in key sectors, such as health care and data centers, and in business outlets. The growing need to reduce downtimes and ensure constant operation of organizations contributes to this trend, as frequent power supply interruptions are increasing, and the demand for continuous power supplies is rising in developed and emerging markets.
Commercial end user segment is projected to exhibit the highest CAGR between 2025 and 2030
The commercial segment is driven by the rising trend of digitization in industries, the growing pressure to become efficient and cost-effective, and the emergence of business models based on subscriptions. Firms are increasingly investing in software and services to enhance their productivity and communication with their customers. Additionally, the strong focus on making evidence-based decisions increases the efforts of targeted marketing to allow companies to improve their products and build a more robust customer base. These factors further drive the generator market for the commercial segment.
Asia Pacific is expected to be the fastest-growing region in the generator market from 2025 to 2030
End-use applications, namely residential, commercial, and industrial (utilities/power generation, oil and gas, chemical and petrochemical, metals and mining, manufacturing, marine, construction, and others), are expected to fuel the generator market in Asia Pacific. The rapid expansion of leading economies, including China, India, South Korea, Japan, Indonesia, and Australia, backs this expansion. The region has also emerged as a manufacturing hub with almost every industry registering growth. Additionally, the increasing investment in infrastructure development and urbanization across the region boosts the demand for reliable power solutions, further driving market growth.
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Key Market Players
The report profiles key players, such as Caterpillar (US), Cummins Inc. (US), Rolls-Royce plc (UK), Generac Power Systems, Inc. (US), and MITSUBISHI HEAVY INDUSTRIES, LTD. (Japan).
