Generator Market Size

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. In the year 2025, the industry size of generator is evaluated at USD 36.95 billion. According to the National Centers for Environmental Information, the U.S. has experienced an average of about 18 billion USD in climate disasters each year, with about 18 climate disasters in 2022 causing a total of more than ​​175.2 billion USD in damage and resulting in 474 fatalities.

Furthermore, there is a rapid increase in industrialization due to the increase in factories, and manufacturing plants to operate the equipment and production lines. The US economic growth has been mainly concentrated in a few places, such as 6% of the US accounts for about two-thirds of the GDP output, they have greatly increased the generator market in the forecasted years.