Generator Market worth $33.45 billion by 2030 | MarketsandMarkets™
DELRAY BEACH, Fla., Oct. 22, 2025 /PRNewswire/ -- The global Generator Market is anticipated to grow from estimated 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.
Browse 200 market data Tables and 60 Figures spread through 300 Pages and in-depth TOC on "Generator Market - Global Forecast to 2030"
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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.
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).
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Caterpillar Inc. (US)
Caterpillar Inc. is the world's leading manufacturer of heavy equipment and solutions for the mining, construction, energy, and transportation industries. The four key business segments, each targeted towards several different industries and markets, include Construction Industries, Resource Industries, Energy & Transportation, and Financial Products. Under the Energy & Transportation segment, the company sells power generation products and services, including reciprocating engines, industrial gas turbines, diesel-electric locomotives, and their respective components. This segment caters to its diverse customers in the energy, marine, rail, and industrial markets. The company offers a comprehensive range of generator sets for power generation, industrial and commercial, oil and gas, marine, and rail and transport applications. It conducts business in over 190 countries worldwide and holds major facilities in approximately 25 countries. It offers a broad portfolio of value-added, innovative, and reliable power solutions that precisely address the requirements of industrial/construction, agriculture, and rental customers. Its products are also available in alternative low-carbon options: biodiesel, renewable diesel, and biogas.
Cummins Inc. (US)
Cummins Inc. is a global leader in engineering, designing, and manufacturing a diverse range of products. From power generation equipment to filtration systems for diesel and natural gas engines, the company operates under five principal business segments: Engine, Distribution, Components, Power Systems, and Accelera. With a strong global reach, it conducts business through over 500 wholly-owned joint ventures, independent distributors, and over 10,000 locations offering authorized Cummins products and services in over 190 countries and territories. There are several research and development facilities and global centers for marketing, administration, supply chain management, distribution, and manufacturing. It demonstrates strong competency in integrating high-efficiency generator technology with advanced power electronics and control systems for sustainable mobility and industrial applications.
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