Generator Market Share

North American Market Forecast

The generator market in North America is estimated to have the largest share of 40% in 2037, impelled by increasing demand for renewable energy resources. The U.S. government has been promoting the usage of generators because of the lack of electrical service or power failures. According to the U.S. Energy Information Administration, in 2022, annual U.S. renewable energy generation surpassed coal for the first time in history. According to a report by the Department of Energy, by 2025, domestic solar energy generation is expected to increase by approximately 75%, and wind by 11%.

APAC Market Statistics

The Asia Pacific generator market is estimated to be the second largest, during the forecast timeframe led by the expansion of several facilities across the countries such as China. Furthermore, there has been a growth in the data centers in the Asia-Pacific which is boosting the demand for data center generators mainly to ensure a sufficient power supply for the IT operations, this contributes as the growth driver of the market.

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of generator is evaluated at USD 36.95 billion.

Generator Market size was valued at USD 35.42 billion in 2024 and is expected to exceed USD 70.17 billion by the end of 2037, expanding at over 5.4% CAGR during the forecast period i.e., between 2025-2037. The growing focus on environmental consciousness and the growing use of renewable energy resources will drive the market growth.

North America industry is anticipated to dominate majority revenue share of 41% by 2037, impelled by increasing demand for renewable energy resources in the region.

The major players in the market are Generac Power Systems, American Honda Motor Corp., Caterpillar Inc., Cummins Inc., Ingersoll Rand, John Deere, HiPower Systems, Kohler Ã¢â‚¬â€œ SDMO, Wacker Neuson, Honda Motor Co. Ltd., Daihatsu Diesel Mfg. Co. Ltd., Yanmar Holdings Co. Ltd., Denyo, and others.

Generator Market Share