Generator Sales Market to be Worth USD 44.49 Billion by 2030; Growing Significance of Generators Across Commercial, Industrial, and Residential Settings to Boost Market Growth: Fortune Business Insights™

The global generator sales market size was valued at USD 28.84 billion in 2022. The market is projected to grow from USD 30.24 billion in 2023 to USD 44.49 billion by 2030, exhibiting a CAGR of 5.67% during the forecasted period.

Fortune Business Insights™ presents this information in its report titled, “Generator Sales Market Size, Share & COVID-19 Impact Analysis, By Power Rating (Below 75 kVA, 75-375 kVA, 375-750 kVA, and Above 750 kVA), By Fuel Type (Diesel, Gas, and Others), By Application (Continuous Load, Peak Load, and Standby Load), By End-User (Mining, Oil & Gas, Construction, Residential, Marine, Manufacturing, Pharmaceuticals, Commercial, Telecom, Utility, Data Center, and Others), and Regional Forecast, 2023-2030.”

Generators consist of many integral parts, such as fuel system, alternator, engine, cooling, primary assembly, exhaust system, and other components. The significance of generators or gensets across industrial, commercial, and residential settings has been elevated due to the necessity for consistent power supply during the peak shaving drives market growth.

Supply Chain Disruptions During Pandemic Impeded the Market Growth

The generator sales market growth was negatively impacted by the COVID-19 pandemic. The factors, such as decreased demand for uninterrupted power supply devices, supply chain disruptions, and disruption of technology, services, and hindrances in activities affecting the consumption of several end-use industries, further impeding the market growth.

Honda Power Sports & Products Launched New Honda EU3200i Generator to Offer Enhanced Power

In June 2022, Honda Power Sports & Products, operating under the American Honda Motor Co., Inc., is set to launch the latest addition to the Honda Super Quiet EU Series range, including the brand-new Honda EU3200i generator. The Honda EU3200i offers enhanced power and convenience compared to the Honda EU3000i Handi model and comes in a portable and compact design that is well-suited for RV trips and outdoor escapades.  Such new product launches by the market players are set to drive the market growth.

Technological Advancements in the Generator Industry to Drive Market Expansion

The significant technological advancements in the generator industry over the years and the ongoing innovations drive the market growth. The new advancements encompass different aspects of generator technology, such as reliability, efficiency, environmental friendliness, and integration of other smart systems, boosting the market expansion.

However, the implementation of strict emission norms and regulations by governments and international organizations to decrease pollution and combat climate change impedes market growth.

Key Players’ Focus on Integration with Other Players to Propel Market Growth

The market of generator sales consists of several key players. The increasing focus of these major market players on enhancing their collaborations or integrating with other players to maintain a competitive edge drives market expansion.

Notable Industry Development

• May 2023 – Caterpillar launched two new collections of mobile generators within its XQP series of mobile diesel generator sets that meet the requirements of EU stage 5 regulations. The new generator sets represent the lowest and highest capacities within the XQP spectrum.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/generator-sales-market-100492

List of the Companies Profiled in the Report:

• Caterpillar Inc. (U.S.)


• Cummins Inc. (U.S.)


• Himoinsa (Spain)


• John Deere (U.S.)


• Aggreko (U.S.)


• Atlas Copco (Sweden)


• Ingersoll Rand (U.S.)


• Kirloskar Electric Co. Ltd. (India)


• Generac Power Systems (U.S.)


• Honda Motor Co. Inc. (Japan)


• Wärtsilä (Italy)


• DAIHATSU DIESEL MFG. CO., LTD. (Japan)


• Yanmar Holdings Co., Ltd (Japan)


• Briggs & Stratton (U.S.)


• Kohler SDMO (France)


• BGG.UK (U.K.)


• PRAMAC (Italy)


• FG Wilson (U.K.)


• Wacker Neusen (Germany)


• HiPower Systems (U.S.)


• New Way (South Africa)


• J C Bamford Excavators Ltd. (U.K.)


• Inmesol (Spain)


• Dagartech (Spain)

Further Report Findings

• Asia Pacific is projected to maintain a significant growth rate and holds the largest generator sales market share due to the adoption of smart technologies, such as IoT-enabled generators for control, remote monitoring, and predictive maintenance, further reducing downtime and enhancing operational efficiency.


• North America is experiencing significant growth in the market and holds the second leading position for generator sales owing to the active promotion of generator’s usage by the U.S. government owing to the lack of electrical services or power failures. 

Table of Segmentation: