Generator Sales Market Surges to $34.5 Billion by 2030, Driven by Strong Growth Trend

Global Generator Sales Market Overview

The global generator sales market is projected to reach USD 34.5 billion by 2030 from an estimated USD 23.1  billion in 2023, at a CAGR of 5.9% during the forecast period. The growth of the generator sales market is driven by growing demand for continuous power supply and evolving new technologies such as fuel cell generators.

Key Market Players

The major players in the generator sales market are Caterpillar (US), Cummins (US), Generac (US), and Rolls-Royce Holdings (UK).

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Increasing demand for uninterrupted and reliable power supply, rapid industrialization owing the demand for generators, and rise in the awareness of the benefits offered by fuel cell generators are expected to drive the demand for-backup power generation. The rapidly expanding manufacturing sector, especially in Asia Pacific, has fueled the demand for generators and power generation systems.

This research report categorizes the generator sales market by fuel type, end user, power rating, application, design, sales channel, and region

On the basis of fuel type:

  • Diesel
  • Gas
  • LPG
  • Biofuel
  • Coal Gas
  • Producer Gas
  • Fuel Cell

On the basis of application:

  • Standby
  • Prime & Continuous
  • Peak Shaving

On the basis of end- user industry:

  • Industrial
    • Utilities/Power Generation
    • Oil & Gas
    • Chemicals & Petrochemicals
    • Mining & Metals
    • Manufacturing
    • Marine
    • Construction
    • Others (Agriculture, Transportation, and Aerospace & Defense)
  • Commercial
    • IT & Telecom
    • Healthcare
    • Data Centers
    • Others (Hotels, Shopping Complexes, Malls, and Public Infrastructure)
  • Residential

On the basis of by power rating:

  • Up To 50 KW
    • Up To 10 KW
    • 11–20 KW
    • 21–30 KW
    • 31–40 KW
    • 41–50 KW
    • 51–280 KW
    • 281–500 KW
    • 501–2,000 KW
    • 2,001–3,500 KW
    • Above 3,500 KW

On the basis of by sales channel:

  • Direct
  • Indirect

On the basis of by sales channel:

  • Stationary
  • Portable

On the basis of region:

  • Asia Pacific
  • Europe
  • North America
  • Middle East & Africa
  • South America

This report segments the generator sales market based on the fuel type into diesel, gas, LPG, biofuel, coal gas, producer gas, gasoline. During the projected time-frame, the Diesel segment is anticipated to dominate the generator sales market, serving as the primary contributor. This dominance can be attributed to the escalating urbanization and industrialization in emerging economies.

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The generator sales market, by power rating, has been broadly classified into 50 kW, 51–280 kW, 281–500 kW, 501–2,000 kW, 2,001–3,500 kW, and above 3,500 kW. The up to 50 kW is the second fastest growing segment. Generators within this power range typically operate at a consistent engine speed, typically between 1,500 and 3,600 rpm. In particular, generators with power ratings ranging from 5 to 50 kW are commonly employed for personal and residential purposes. Additionally, generators below 50 kW power rating find utility in delivering power backup solutions for small-scale commercial activities, including telecom, retail, and various other sectors.