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Generator Sets Market to grow at a CAGR of 9.85 percent during the forecast period to reach USD 44.25 Bn by 2029, Market Share and Size

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Generator Sets Market to grow at a CAGR of 9.85 percent during the forecast period to reach USD 44.25 Bn by 2029, Market Share and Size

April 11
18:04 2023
Generator Sets Market to grow at a CAGR of 9.85 percent during the forecast period to reach USD 44.25 Bn by 2029, Market Share and Size
Generator Sets Market
Generator Sets Market size was valued at USD 22.2 Bn. in 2022 and the total Generator Sets revenue is expected to grow at a CAGR of 9.85% from 2023 to 2029, reaching nearly USD 44.25 Bn.

Pune, 11, April, 2023: As per the “Generator Sets Market” report, the total market for Generator Sets is USD 22.2 Bn in 2022 and is expected to reach USD 44.25 Bn by 2029 with a CAGR of 9.85 percent. The report published by Maximize Market research, on the Global Generator Sets Market, covers an extensive regional analysis, market dynamics and competitive landscape.

Generator Sets Market Report Scope and Research Methodology

The Generator Sets market report majorly focuses on the market size, shares, regional insights and dynamics. The detailed analysis of Generator Sets market dynamics includes growth drivers, restraints, major challenges and prevailing opportunities, which guides the clients in investment planning. To estimate the global and regional Generator Sets market size, the bottom-up approach was used. Both primary and secondary research methods were employed for the Generator Sets market report. The primary research includes interviews with important opinion leaders and Generator Sets industry experts such as skilled front-line personnel, entrepreneurs, and marketing professionals while the secondary research includes a review of annual and financial reports of leading manufacturers’ government sites, industry journals, white papers, releases of product manufacturers and suppliers in the Generator Sets industry along with paid and free databases. The Generator Sets market report includes a list of competitors and a SWOT analysis was used to provide the strengths and weaknesses of these competitors. PORTER, PESTEL analysis was employed to understand the potential impact of macroeconomic and microeconomic factors on the Generator Sets Market.

Generator Sets Market Dynamics

The factors that are majorly driving the growth of the market are the demand for steady power supply, the need for emergency backup power solutions and the increasing demand for power. During the forecast period, the market is expected to majorly due to the growing manufacturing sector and industrialization. 

The high maintenance, capital and installation costs associated with the generator sets are the main restraint for the market growth. The Generator Sets market growth is expected to be hampered by the rising adoption of energy storage products and the development of renewable energy power generation technologies. 

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Generator Sets Market Regional Insights

In 2021, the Asia Pacific region dominated the global market by holding the largest Generator Sets Market share of about 42 percent. The regional market is expected to grow at a CAGR of 6 percent during the forecast period. The rising number of infrastructure projects and manufacturing facilities in the region. 

During the Forecast period, the Generator Sets Market in the North America region is expected to grow at a high rate. The growth of the regional market is due to the increasing vulnerability of the electrical grid to weather-caused outrages along with the growing infrastructure of data centers and other commercial sectors, which is leading to the high demand for reliable power backup solutions.  

Generator Sets Market Segmentation

By Current Type

  • DC
  • AC (Single Phase, Poly Phase)


By Fuel Type

  • Gasoline
  • Diesel
  • Other


By Power Rating

  • Below 75 kVA
  • 75-350 kVA
  • Above 350 kVA


By Application

  • Standby Backup Power
  • Prime/Continuous Power
  • Peak Shaving Power


By End-Use

  • Residential
  • Commercial
  • Industrial


Generator Sets Key Competitors include:

  • AKSA Power Generation
  • Briggs &amp
  • Stratton Corporation
  • Caterpillar Inc.
  • Cooper Corporation
  • Cummins Inc.
  • Doosan Corporation
  • Generac Power Systems
  • General Electric Corporation
  • Honda Power Equipment
  • Kirloskar Oil Engines Limited
  • Kohler
  • Ingersoll Rand
  • Yanmar
  • Sterling
  • Manlift Group
  • Atlas Copco
  • Powerica
  • John Deere
  • Mitsubishi
  • Mahindra Powerol
  • America Honda Motors
  • Yamaha Motor
  • Escorts
  • Sterling & Wilson


Table of Content for Generator Sets Market

  • Global Generator Sets Market: Research Methodology


  • Global Generator Sets Market: Executive Summary
  • Market Overview and Definitions
  • Introduction to Global Market
  • Summary
  • Key Findings
  • Recommendations for Investors
  • Recommendations for Market Leaders 
  • Recommendations for New Market Entry


  • Global Generator Sets Market: Competitive Analysis
  • MMR Competition Matrix
  • Market Structure by region
  • Competitive Benchmarking of Key Players
  • Consolidation in the Market
  • M&A by region
  • Key Developments by Companies
  • Market Drivers
  • Market Restraints
  • Market Opportunities 
  • Market Challenges
  • Market Dynamics
  • PORTERS Five Forces Analysis
  • Regulatory Landscape by region
  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • South America
  • COVID-19 Impact


  • Global Generator Sets Market Segmentation
  • Global Market, by Current Type (2021-2029)
  • Global Market, by Fuel Type (2021-2029)
  • Global Market, by Application (2021-2029)
  • Global Market, by End-Use (2021-2029)
  • Global Market, by Power Rating (2021-2029)


  • Regional Generator Sets Market (2021-2029)
  • Regional Market, by Current Type (2021-2029)
  • Regional Market, by Fuel Type (2021-2029)
  • Regional Market, by Application (2021-2029)
  • Regional Market, by End-Use (2021-2029)
  • Regional Market, by Power Rating (2021-2029)
  • Regional Market, by Country (2021-2029)


  • Company Profile: Key players
  • Company Overview
  • Financial Overview
  • Global Presence
  • Capacity Portfolio
  • Business Strategy 
  • Recent Developments


Get the Sample PDF of Report: 

Key questions answered in the Generator Sets Market are:

  • What are Generator Sets? 
  • What is the expected Generator Sets Market size by the end of the forecast period?
  • What are the global trends in the Generator Sets Market?
  • What are the upcoming industry applications and trends for the Generator Sets Market?
  • What are the recent industry trends that can be implemented to generate additional revenue streams for Generator Sets Market? 
  • How is the intervention from regulatory authority shaping the Generator Sets Market?
  • What growth strategies are the players considering to increase their presence in Generator Sets?
  • Who are the leading companies and what are their portfolios in Generator Sets Market? 
  • What are the major challenges that the Generator Sets Market could face in the future? 
  • Who held the largest market share in Generator Sets Market? 


Key Offerings:

  • Past Market Size and Competitive Landscape (2018 to 2021)
  • Past Pricing and price curve by region (2018 to 2021)
  • Market Size, Share, Size & Forecast by different segment | 2022−2029
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
  • Market Segmentation – A detailed analysis by Current Type, Application, Fuel type, Power rating, End-Use and Region 
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective 
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis 
  • PORTER’s analysis 
  • Value chain and supply chain analysis 
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis 
  • Recommendations 


Maximize Market Research is leading Electronics research firm, has also published the following reports:

Silent Generator Market – The market size is expected to reach USD 5.04 billion by 2029 at a CAGR of 6.7 percent during the forecast period. The market is expected to be driven by the increasing demand for power generation systems and silent generators.

Multi-Fuel Generator Market – The market size is expected to reach USD 1.76 billion by 2029 at a CAGR of 6.2 percent during the forecast period. The market is expected to be driven by the growing urbanization and population of developing countries. 


About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.


Contact Maximize Market Research:

3rd Floor, Navale IT Park, Phase 2

Pune Banglore Highway, Narhe,

Pune, Maharashtra 411041, India

[email protected] 

+91 96071 95908, +91 9607365656

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