The global generators market is valued at USD 26.6 billion in 2024, driven by rising demand across construction, manufacturing, data centers, healthcare, residential backup systems, and remote energy applications. Asia-Pacific dominates the generators market with nearly 40% market share, fueled by rapid industrialization, urban power deficits, and grid reliability challenges in India, China, and Southeast Asia. North America and Europe maintain premium segments, with demand concentrated in hospitals, data centers, and industrial facilities requiring advanced emission-compliant, fuel-efficient, and hybrid diesel-gas generator systems. Generators market growth is supported by increasing frequency of climate-related disruptions, ageing grid infrastructure, and global initiatives for energy security. Backup and decentralized power solutions already account for over 7% of global electricity capacity, highlighting the structural importance of generators.
Generators overview
Published by MMR Statistics Research Team, Updated