Generator Sales Market Size, Share, Industry Overview, Analysis and Forecast 2025-2033

IMARC Group, a leading market research company, has recently released a report titled "Generator Sales Market Report by Fuel Type (Diesel, Gas, and Others), Power Rating (Below 75 kVA, 75-375 kVA, 375-750 kVA, Above 750 kVA), Application (Continuous Load, Peak Load, Stand by Load), End User (Residential, Commercial, Industrial), and Region 2025-2033" The study provides a detailed analysis of the industry, including the global generator sales market size, share, trends, growth and forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Generator Sales Market Overview

The global generator sales market size reached USD 29.2 Billion in 2024 and is projected to reach USD 44.8 Billion by 2033, growing at a CAGR of 4.63% during 2025-2033. The market growth is driven by an increasing demand for reliable power supply, widespread adoption of renewable energy sources, expanding industrial sectors like construction and telecommunications, and technological advancements improving efficiency and portability.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

Generator Sales Market Key Takeaways

• Current Market Size: USD 29.2 Billion in 2024
• CAGR: 4.63% during 2025-2033
• Forecast Period: 2025-2033
• Increasing demand for reliable power sources is the major market driver due to frequent outages and infrastructure vulnerabilities.
• Diesel is the dominant fuel type segment owing to its efficiency, reliability, and wider availability.
• The 375-750 kVA power rating segment holds the largest share due to its versatility and suitability for commercial and industrial applications.
• The industrial end user segment leads the market, driven by high power demand in manufacturing, construction, and mining.
• Asia Pacific is the largest regional market, supported by rapid urbanization, industrial growth, and energy demand.

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Market Growth Factors

The generator sales market is driven by the increasing demand for reliable back-up power sources. Various factors such as blackouts due to natural phenomenon, aging grid infrastructure and increase in energy demand have raised the need for back-up power supply, thereby driving the market. The OECD Monthly Electricity Statistics report for June 2024 shows that net electricity generation reached 902.8 TWh of electricity, a 5.4% increase from the previous year, reflecting increasing electricity demand and the importance of 24-hours uninterrupted electricity supply.

Sales growth has also occurred due to the increase in renewable energy sources such as solar and wind. Hybrid sourcing as a complementary technology has been adopted as a result of more government subsidies, and a growing consumer demand for renewables. Canadian Solar Inc. announced construction of a 5 GW Solar PV cell manufacturing facility in Indiana, United States began in October 2023, as a step toward using renewable energy and as an opportunity for deployment of backup generators.

An increase in industrialization and physical infrastructure has also been encouraging. Construction, telecommunications, and data center sectors require large amounts of power and cannot afford any downtime in the power supply. The launch of products such as Hitachi Energy's HyFlex Hydrogen Power Generator in November 2023 is a meaningful advancement in the development of alternate energy solutions for mining, hospital, and port applications, creating a positive outlook for generator sales growth.

Market Segmentation

Breakup by Fuel Type:

• Diesel: Diesel accounts for the majority market share due to its efficiency, reliability, and availability, providing high power output and longer run times suitable for industrial and commercial use.
• Gas
• Others

Breakup by Power Rating:

• Below 75 kVA
• 75-375 kVA
• 375-750 kVA: This segment holds the largest share because these generators are versatile, suitable for medium to large commercial and industrial applications, and offer a balance between power output and fuel efficiency.
• Above 750 kVA

Breakup by Application:

• Continuous Load: Designed for constant power supply needs in manufacturing, hospitals, and data centers, these generators provide long-term stable electricity.
• Peak Load: Used to manage short bursts of high energy demand, essential for sectors like construction and large commercial buildings.
• Stand by Load: Serving as backup power during primary supply outages, crucial for healthcare, telecommunications, and food storage sectors.

Breakup by End User:

• Residential
• Commercial
• Industrial: Dominates the market owing to its requirement for reliable power to operate machinery and mitigate financial losses.

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Asia Pacific is the leading region in the global generator sales market due to rapid urbanization, industrial growth, and increasing energy demand driven by population expansion. Government initiatives, such as India's National Green Hydrogen Mission with a ₹ 19,744 crore allocation, bolster infrastructure development and energy security, further propelling market growth in this region.

Recent Developments & News

In July 2024, Mainspring Energy expanded its market reach by unveiling reseller partners to accelerate deployments of its fuel-flexible power generator solution in the U.S. commercial, industrial, biogas, data center, and utility markets. In May 2024, Trime launched a new range of diesel-powered generators featuring engines from Kohler Stage V, Yanmar, FPT Iveco, and Perkins, covering power bands between 6 kVA and 670 kVA. These developments highlight ongoing product innovation and market expansion efforts by key industry players.

Key Players

• ABB Ltd.
• Atlas Copco AB
• Bharat Heavy Electricals Limited
• Briggs & Stratton
• Caterpillar
• Cummins Inc.
• GE Vernova
• Generac Power Systems, Inc.
• Mitsubishi Heavy Industries Ltd.
• Rehlko
• Rolls-Royce plc
• Siemens AG
• Toshiba Corporation
• Wacker Neuson SE
• Wärtsilä

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