How Big is the Generator Market | Growth Insights & Size 2025

Q: How big is the generator market?

The generator market was estimated at USD 28.9 Billion in 2024 and is expected to reach USD 45.3 Billion by 2031.

Q: What is the growth rate of the generator market?

The generator market is expected to grow at a CAGR of 5.7% during 2025–2031.

Q: What factors are driving the generator market?

Primary drivers include grid unreliability, growing infrastructure, industrial expansion, and rising backup power demand.

Q: Who are the major players in the generator market?

Top companies include Caterpillar, Cummins, Generac, Kohler, Honda, and Mitsubishi.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

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Code: MTA6353

Publication Date: Jul 2025

What is the size of Generator Market?

According to 6Wresearch internal database and industry insights, Global Generator Market was estimated atUSD 28.9 Billion in 2024 and is expected to reachUSD 45.3 Billion by 2031, growing at a CAGR of 5.7% during the forecast period 2025â€“2031.

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The Generator market is predicted for the substantial growth due to increasing demand for reliable backup power across industries, rising power outages, infrastructure development, and expanding industrialization in emerging markets.

Key Growth Drivers of the Generator Market

Rising frequency of power outages and grid instability
Expanding industrial and commercial infrastructure
Increased construction activities and data centre installations
Growing need for emergency power in healthcare and remote areas
Surging demand from telecom, mining, and oil & gas sectors

Generator Market Trends

Generator market is growing over the years with notable trends such as increasing adoption of hybrid and dual-fuel generators. The demand of generator is shifting toward low-noise, low-emission models to comply with environmental standards. Smart generators with remote monitoring and IoT integration are gaining traction. This market is seeing surge in rental generator demand for temporary and mobile power needs. Portable generator sales are booming in residential and small business segments.

Emerging Developments in the Generator Market

Generator market is seeing developments with the time as the focus is emphasizing on hydrogen-based and fuel cell-powered generators as eco-friendly alternatives. Battery is being advanced with integrated hybrid generator systems are improving energy efficiency. Companies are incorporating AI and predictive maintenance software for fleet management. Solar-diesel hybrid solutions are gaining interest in off-grid regions. Further, generator-as-a-service (GaaS) models are emerging for flexible deployments.