The global genset market size reached around USD 26.79 Billion in 2025. The market is projected to grow at a CAGR of 5.60% between 2026 and 2035 to reach nearly USD 46.20 Billion by 2035.
Base Year
Historical Period
Forecast Period
Less than 6% of American households own a standby generator.
In 2022, Generac sold nearly USD 2.8 billion worth of power supply solutions in the United States.
As per industry reports, data centre developers are increasingly introducing new hyperscale data centers with a capacity of 100MW or more.
Compound Annual Growth Rate
5.6%
Value in USD Billion
2026-2035
*this image is indicative*
| Global Genset Market Report Summary | Description | Value |
| Base Year | USD Billion | 2025 |
| Historical Period | USD Billion | 2019-2025 |
| Forecast Period | USD Billion | 2026-2035 |
| Market Size 2025 | USD Billion | 26.79 |
| Market Size 2035 | USD Billion | 46.20 |
| CAGR 2019-2025 | Percentage | XX% |
| CAGR 2026-2035 | Percentage | 5.60% |
| CAGR 2026-2035 - Market by Region | Asia Pacific | 6.3% |
| CAGR 2026-2035 - Market by Country | India | 7.2% |
| CAGR 2026-2035 - Market by Country | Brazil | 6.2% |
| CAGR 2026-2035 - Market by Portability | Portable | 6.4% |
| CAGR 2026-2035 - Market by End User | Residential | 6.0% |
| Market Share by Country 2025 | Brazil | 3.1% |
The total data centre storage capacity is expected to increase from 10.1 zettabytes in 2023 to 21.0 ZB in 2027, recording a 5-year CAGR of 18.5%. The United States of America has emerged as one of the primary markets for data centre colocation, with regions such as Northern California (693 MW), Phoenix (698 MW), Dallas (737 MW), and Northern Virginia (3640) boasting substantial capacity. Many European cities, such as Dublin (227 MW), London (912 MW), and Frankfurt (660 MW) are also major data centre colocation markets. This is expected to increase the demand for reliable and uninterrupted power supply solutions, thereby fuelling the genset market expansion.
Over the forecast period, leading manufacturers are expected to launch HVO-powered gensets due to their relatively higher environmental credibility. While an average diesel genset releases 2.7kg of carbon emissions upon burning 1 litre of fuel, HVO-powered gensets can cut emissions by around 85% and nitrogen oxide emissions by around 30%. As per the genset market analysis, hydrogen-powered gensets are also expected to play a critical role in the energy transition, which is expected to drive the market growth in the upcoming years.
Challenges posed by power blackouts; technological advancements; rapid industrialisation and urbanisation; and increasing infrastructure development are the major factors favouring the genset market growth
The United States has recorded over 900 incidences of power outages pertaining to climate change since 2010. This is creating an urgent requirement for a stable power supply among consumers, which is driving genset adoption by consumers.
The introduction of hybrid gensets, which provide a quieter, more efficient, and relatively more environmentally friendly operational environment, is expected to contribute to the genset market development over the forecast period.
Nearly 68% of the global population is projected to reside in urban areas by 2050. This trend is expected to be most prominent in Africa and Asia, which is expected to lead to genset market expansion.
In 2023, the US government spent USD 44.8 billion on infrastructure development and transferred an additional amount of USD 81.5 billion for the same to the states. Gensets are essential to power heavy machinery and equipment required for infrastructural development.
The demand for gensets in North America is expected to rise substantially, driven by the rising incidence of climate-related power outages, which rose by 2x from 2010 levels. As per the Energy Information Administration, an average customer of the US electricity grid lost power for around 8 hours in 2021, which is 2x longer than a decade ago. This is expected to fuel the genset market development in the region, as consumers switch towards portable and powerful solutions for securing their long-term future.
The EMR’s report titled “Global Genset Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Breakup by Portability
Breakup by Fuel
Breakup by Power Rating
Breakup by End User
Breakup by Region
| CAGR 2026-2035 - Market by | Country |
| India | 7.2% |
| Brazil | 6.2% |
| China | 6.0% |
| Canada | 5.4% |
| Saudi Arabia | 5.0% |
| USA | XX% |
| UK | XX% |
| Germany | 4.7% |
| France | XX% |
| Japan | XX% |
| Australia | XX% |
| Mexico | XX% |
| Italy | 4.4% |
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-32, the market for genset in the Asia Pacific is estimated to grow at a CAGR of 6.3% due to the increasing popularity of hydrogen powered gensets and their increasing adoption in residential, commercial, and industrial spaces. As per the genset market analysis, portable gensets are expected to drive the market growth, as people switch towards easy-to-handle power generation solutions.
Major players are expected to begin manufacturing hydrogen-powered gensets on a large scale, which can boost the genset market value in the upcoming years.
Cummins Inc. was founded in February 1919 and is headquartered in Indiana, United States. It specialises in manufacturing power generation systems, engines, and other electrical power solutions.
Aggreko Ltd. was founded in 1962 and is headquartered in Dumbarton, Scotland. It specialises in producing diesel generators, transformers, chillers, industrial heaters, and other similar equipment.
Discovery Energy, LLC is headquartered in Utah, United States. It is engaged in providing business strategies for minimising electricity bills to companies.
Generac Power Systems, Inc. was founded in 1959 and is headquartered in Wisconsin, United States. It manufactures pressure washers, generators, and energy storage solutions, among other devices and equipment.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other players included in the genset market report are Caterpillar Inc., Deere & Company, Siemens AG, Kirloskar Electric Company Limited, Mitsubishi Heavy Industries, Ltd., and Wärtsilä, among others.
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In 2025, the market reached an approximate value of USD 26.79 Billion.
The market is projected to grow at a CAGR of 5.60% between 2026 and 2035.
The market is estimated to witness healthy growth in the forecast period of 2026-2035 to reach a value of around USD 46.20 Billion by 2035.
The different regions considered in the market report include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The key trends of the market are challenges posed by power blackouts, technological advancements, rapid industrialisation and urbanisation, and increasing infrastructure development.
The different end users of gensets include industrial, commercial, and residential.
The different fuels used to run gensets are diesel and gas, among others.
Key players in the market are Cummins Inc., Caterpillar Inc., Aggreko Ltd., Generac Power Systems, Inc., Discovery Energy, LLC, Deere & Company, Siemens AG, Kirloskar Electric Company Limited, Mitsubishi Heavy Industries, Ltd., and Wärtsilä, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Portability |
|
| Breakup by Fuel |
|
| Breakup by Power Rating |
|
| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
|
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