Electric Generator Market By Type (Diesel Generators, Gas Generators, Dual-Fuel Generators, Portable Generators, Stationary Generators), By Capacity (Below 75 kVA, 75–375 kVA, 375–750 kVA, Above 750 kVA), By Application (Standby Power, Prime Power, Continuous Power, Peak Shaving), By End-User (Residential, Commercial, Industrial, Construction, Mining, Oil & Gas, Marine, Pharmaceuticals, Telecommunications), and By Region; Global Insights & Forecast (2023 – 2030)

As per Intent Market Research, the Electric Generator Market was valued at USD 30.9 Billion in 2024-e and will surpass USD 40.8 Billion by 2030; growing at a CAGR of 4.7% during 2025-2030.

The electric generator market continues to expand, driven by increasing demand for reliable power supply across industries. Frequent power outages, rapid urbanization, and the need for backup power solutions are key factors fueling market growth. Technological advancements, such as fuel efficiency improvements and the integration of digital monitoring systems, are further shaping the competitive landscape.

Diesel Generators Segment is Largest Due to Reliability and Widespread Adoption

Diesel generators dominate the market due to their durability, fuel efficiency, and ability to provide consistent power in off-grid locations. Industries such as construction, mining, and manufacturing heavily rely on diesel generators to ensure uninterrupted operations. Their long operational life and ease of fuel availability further contribute to their widespread use.

The growing demand for high-power output in industrial applications continues to solidify diesel generators’ market leadership. Although concerns about emissions and regulatory restrictions exist, advancements in cleaner diesel technologies and hybrid generator solutions are helping to mitigate environmental concerns, keeping this segment at the forefront of the market.

  Electric Generator Market  Size

Gas Generators Segment is Fastest Growing Due to Environmental and Cost Advantages

Gas generators are witnessing rapid growth, fueled by stricter environmental regulations and the shift towards cleaner energy sources. These generators produce lower emissions compared to diesel alternatives and are increasingly favored in commercial and residential sectors. Natural gas and biogas-powered generators are gaining traction, especially in regions with developed gas infrastructure.

The adoption of gas generators is particularly strong in developed markets such as North America and Europe, where sustainability goals drive investment in low-emission power solutions. Additionally, advancements in gas turbine technology have enhanced efficiency, making gas generators an attractive option for long-term energy solutions.

375–750 kVA Segment is Largest Due to Its Industrial and Commercial Usage

Generators in the 375–750 kVA range hold the largest market share due to their suitability for industrial, commercial, and healthcare applications. These generators provide sufficient power to support manufacturing plants, data centers, and large-scale infrastructure projects, where consistent energy supply is critical.

Their adaptability for both standby and prime power applications makes them highly preferred across various industries. The ongoing expansion of data centers and industrial facilities worldwide continues to drive the demand for high-capacity generators, further strengthening this segment’s dominance.

Below 75 kVA Segment is Fastest Growing Due to Expanding Residential and Small Business Demand

The below 75 kVA segment is experiencing the fastest growth, particularly due to increasing adoption in residential and small commercial applications. The rise in power outages, coupled with growing awareness of energy security, is driving demand for compact, fuel-efficient generators in this category.

Additionally, the affordability and ease of installation of smaller generators make them an attractive choice for households and small businesses. Emerging markets, where grid reliability remains a challenge, are seeing particularly high demand for generators in this range, contributing to this segment’s strong growth trajectory.

Standby Power Segment is Largest Due to Its Critical Role in Power Backup

The standby power segment holds the largest market share as industries, businesses, and households prioritize reliable backup power solutions. With the increasing frequency of power outages caused by extreme weather conditions and grid failures, demand for standby generators has surged.

Sectors such as healthcare, telecommunications, and data centers rely heavily on standby power to prevent operational disruptions. Regulatory mandates for backup power solutions in critical infrastructure further drive growth in this segment.

Prime Power Segment is Fastest Growing Due to Off-Grid and Remote Applications

Prime power generators are witnessing rapid adoption, particularly in remote and off-grid locations where continuous power supply is required. These generators are extensively used in mining, oil & gas, and construction sectors, where stable electricity access is often unavailable.

The demand for prime power is also rising in emerging economies, where infrastructure development and industrial expansion drive the need for reliable, long-duration power solutions. Innovations in fuel efficiency and hybrid generator systems further support the growth of this segment.

Industrial Segment is Largest Due to High Power Consumption Needs

The industrial segment dominates the market as industries require high-capacity generators for uninterrupted operations. Sectors such as manufacturing, mining, and oil & gas depend on generators for continuous and backup power supply to prevent costly downtimes.

With rising industrial automation and expansion of manufacturing facilities globally, demand for generators in this sector remains robust. The adoption of advanced monitoring and control technologies further enhances efficiency, making industrial generators a crucial component of modern energy management.

Telecommunications Segment is Fastest Growing Due to Rising Digital Connectivity

The telecommunications sector is witnessing the fastest growth in generator adoption due to the increasing need for reliable power in data centers, cell towers, and broadband infrastructure. As 5G networks expand globally, telecom providers are investing in backup power solutions to ensure seamless connectivity.

The growing reliance on digital communication and cloud services has amplified the importance of uninterrupted power supply in this sector. This trend is particularly prominent in emerging markets where telecom infrastructure development is accelerating.

Asia-Pacific is Fastest Growing Due to Infrastructure Expansion and Energy Demand

The Asia-Pacific region is experiencing the fastest growth in the electric generator market, driven by rapid urbanization, industrialization, and infrastructure development. Countries such as China, India, and Indonesia are witnessing increasing investments in commercial and residential projects, necessitating reliable power solutions.

Government initiatives focused on rural electrification and renewable energy integration are also propelling generator demand. The region’s growing data center market, fueled by digital transformation and cloud computing adoption, further supports market expansion.

 Electric Generator Market  Size by Region 2030

Competitive Landscape and Leading Companies

The electric generator market is highly competitive, with major players such as Caterpillar, Cummins, Generac, Mitsubishi Heavy Industries, and Kohler leading the industry. These companies are continuously innovating to develop fuel-efficient, low-emission, and hybrid generator solutions.

Strategic partnerships, mergers, and acquisitions are common in the industry as companies aim to expand their market presence. With increasing regulatory pressure on emissions, businesses are investing in cleaner and smarter generator technologies to maintain a competitive edge.

The market’s future will be shaped by advancements in fuel efficiency, alternative energy integration, and digital monitoring solutions, ensuring continued growth and evolution in power generation technologies.

List of Leading Companies:

  • Caterpillar Inc.
  • Cummins Inc.
  • General Electric Company
  • Honda Motor Co., Ltd.
  • Kirloskar Electric Co. Ltd.
  • Kohler Co.
  • Mitsubishi Heavy Industries Ltd.
  • Rolls-Royce Holdings plc
  • Toshiba Corporation
  • Yamaha Motor Pvt. Ltd.
  • Atlas Copco
  • Doosan Group
  • Mahindra Powerol Ltd.
  • Yanmar Co. Ltd.
  • Generac Holdings Inc.

Recent Developments:

  • In January 2025, Constellation announced a definitive agreement to acquire Calpine Corporation in a cash and stock transaction valued at approximately $16.4 billion, aiming to create America's leading producer of clean and reliable energy.
  • In June 2022, Cummins introduced the C1000D6RE, a 1MW twin-pack rental generator equipped with two QSX15 Tier 4 Final engines, designed for flexible and reliable power solutions across various industries.
  • Scheduled for launch in October 2024, Panasonic's new generator offers up to 10 kW of DC power and 8.2 kW of heat for water heating, featuring high electrical efficiency and modular scalability for diverse applications.
  • In June 2024, Deutz AG acquired Blue Star Power Systems, aiming to strengthen its position in the electric generators market by expanding its product offerings and leveraging Blue Star's expertise in power generation solutions.
  • In June 2022, Kirloskar Oil Engines Ltd. introduced the R550 series of engines powering the iGreen Version 2.0 generators, offering compactness, fuel efficiency, and high power quality for diverse applications.

Report Scope:

Report Features

Description

Market Size (2024-e)

USD 30.9 Billion

Forecasted Value (2030)

USD 40.8 Billion

CAGR (2025 – 2030)

4.7%

Base Year for Estimation

2024-e

Historic Year

2023

Forecast Period

2025 – 2030

Report Coverage

Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments

Segments Covered

Electric Generator Market By Type (Diesel Generators, Gas Generators, Dual-Fuel Generators, Portable Generators, Stationary Generators), By Capacity (Below 75 kVA, 75–375 kVA, 375–750 kVA, Above 750 kVA), By Application (Standby Power, Prime Power, Continuous Power, Peak Shaving), By End-User (Residential, Commercial, Industrial, Construction, Mining, Oil & Gas, Marine, Pharmaceuticals, Telecommunications)

Regional Analysis

North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)

Major Companies

Caterpillar Inc., Cummins Inc., General Electric Company, Honda Motor Co., Ltd., Kirloskar Electric Co. Ltd., Kohler Co., Mitsubishi Heavy Industries Ltd., Rolls-Royce Holdings plc, Toshiba Corporation, Yamaha Motor Pvt. Ltd., Atlas Copco, Doosan Group, Mahindra Powerol Ltd., Yanmar Co. Ltd., Generac Holdings Inc.

Customization Scope

Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements

Frequently Asked Questions

The Electric Generator Market was valued at USD 30.9 Billion in 2024-e and is expected to grow at a CAGR of over 4.7% from 2025 to 2030

Key industries include mining, oil and gas, construction, manufacturing, pharmaceuticals, marine, residential, and commercial sectors.

Recent trends include the integration of digital technologies for remote monitoring, the development of hybrid power solutions, and a growing emphasis on clean and renewable energy sources.

Leading companies include Caterpillar Inc., Cummins Inc., General Electric Company, Honda Motor Co., Ltd., and Kirloskar Electric Co. Ltd., among others.

1. Introduction

   1.1. Market Definition

   1.2. Scope of the Study

   1.3. Research Assumptions

   1.4. Study Limitations

2. Research Methodology

   2.1. Research Approach

      2.1.1. Top-Down Method

      2.1.2. Bottom-Up Method

      2.1.3. Factor Impact Analysis

  2.2. Insights & Data Collection Process

      2.2.1. Secondary Research

      2.2.2. Primary Research

   2.3. Data Mining Process

      2.3.1. Data Analysis

      2.3.2. Data Validation and Revalidation

      2.3.3. Data Triangulation

3. Executive Summary

   3.1. Major Markets & Segments

   3.2. Highest Growing Regions and Respective Countries

   3.3. Impact of Growth Drivers & Inhibitors

   3.4. Regulatory Overview by Country

4. Electric Generator Market, by  Type (Market Size & Forecast: USD Million, 2023 – 2030)

   4.1. Gas Generators

   4.2. Diesel Generators

   4.3. Completely Knocked Down (CKD) Generators

5. Electric Generator Market, by Capacity (Market Size & Forecast: USD Million, 2023 – 2030)

   5.1. Below 75 kVA

   5.2. 75–375 kVA

   5.3. 375–750 kVA

   5.4. Above 750 kVA

6. Electric Generator Market, by Application (Market Size & Forecast: USD Million, 2023 – 2030)

   6.1. Standby Power

   6.2. Peak Shaving

   6.3. Continuous Power

7. Electric Generator Market, by  End User (Market Size & Forecast: USD Million, 2023 – 2030)

   7.1. Mining

   7.2. Oil and Gas

   7.3. Construction

   7.4. Residential

   7.5. Marine

   7.6. Manufacturing

   7.7. Pharmaceuticals

   7.8. Commercial

   7.9. Other End-Users

8. Regional Analysis (Market Size & Forecast: USD Million, 2023 – 2030)

   8.1. Regional Overview

   8.2. North America

      8.2.1. Regional Trends & Growth Drivers

      8.2.2. Barriers & Challenges

      8.2.3. Opportunities

      8.2.4. Factor Impact Analysis

      8.2.5. Technology Trends

      8.2.6. North America Electric Generator Market, by  Type

      8.2.7. North America Electric Generator Market, by Capacity

      8.2.8. North America Electric Generator Market, by Application

      8.2.9. North America Electric Generator Market, by  End User

      8.2.10. By Country

         8.2.10.1. US

               8.2.10.1.1. US Electric Generator Market, by  Type

               8.2.10.1.2. US Electric Generator Market, by Capacity

               8.2.10.1.3. US Electric Generator Market, by Application

               8.2.10.1.4. US Electric Generator Market, by  End User

         8.2.10.2. Canada

         8.2.10.3. Mexico

    *Similar segmentation will be provided for each region and country

   8.3. Europe

   8.4. Asia-Pacific

   8.5. Latin America

   8.6. Middle East & Africa

9. Competitive Landscape

   9.1. Overview of the Key Players

   9.2. Competitive Ecosystem

      9.2.1. Level of Fragmentation

      9.2.2. Market Consolidation

      9.2.3. Product Innovation

   9.3. Company Share Analysis

   9.4. Company Benchmarking Matrix

      9.4.1. Strategic Overview

      9.4.2. Product Innovations

   9.5. Start-up Ecosystem

   9.6. Strategic Competitive Insights/ Customer Imperatives

   9.7. ESG Matrix/ Sustainability Matrix

   9.8. Manufacturing Network

      9.8.1. Locations

      9.8.2. Supply Chain and Logistics

      9.8.3. Product Flexibility/Customization

      9.8.4. Digital Transformation and Connectivity

      9.8.5. Environmental and Regulatory Compliance

   9.9. Technology Readiness Level Matrix

   9.10. Technology Maturity Curve

   9.11. Buying Criteria

10. Company Profiles

   10.1. Caterpillar Inc.

      10.1.1. Company Overview

      10.1.2. Company Financials

      10.1.3. Product/Service Portfolio

      10.1.4. Recent Developments

      10.1.5. IMR Analysis

    *Similar information will be provided for other companies 

   10.2. Cummins Inc.

   10.3. General Electric Company

   10.4. Honda Motor Co., Ltd.

   10.5. Kirloskar Electric Co. Ltd.

   10.6. Kohler Co.

   10.7. Mitsubishi Heavy Industries Ltd.

   10.8. Rolls-Royce Holdings plc

   10.9. Toshiba Corporation

   10.10. Yamaha Motor Pvt. Ltd.

   10.11. Atlas Copco

   10.12. Doosan Group

   10.13. Mahindra Powerol Ltd.

   10.14. Yanmar Co. Ltd.

   10.15. Generac Holdings Inc.

11. Appendix

 

A comprehensive market research approach was employed to gather and analyze data on the Electric Generator Market. In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the Electric Generator Market. The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.

Research Approach -

Secondary Research

Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.

Primary Research

Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the E-Waste Management ecosystem. The primary research objectives included:

  • Validating findings and assumptions derived from secondary research
  • Gathering qualitative and quantitative data on market trends, drivers, and challenges
  • Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
  • Assessing the supply-side landscape, including technological advancements and recent developments

Market Size Assessment

A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the Electric Generator Market. These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:

  1. Identification of key industry players and relevant revenues through extensive secondary research
  2. Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
  3. Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources

Bottom Up and Top Down -

Data Triangulation

To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.

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