Demand for generators and generator sets (gensets) continues to be shaped by grid reliability, severe weather, infrastructure buildouts, and fast-growing “always-on” loads (e.g., data centers).
Below are the most recent, clearly stated market-size and segment statistics from major industry research firms and public reliability datasets.
Key generator market statistics
- Global generator sets market size (2024): USD 34,166.6 million (≈ USD 34.17B).
- Global generator sets market forecast (2030): USD 57,926.1 million (≈ USD 57.93B).
- Generator sets CAGR (2025–2030): 9.3%.
- Global generator sets revenue (2025): USD 37,050.9 million.
- Low power gensets revenue (2025): USD 16,229.5 million (largest segment in that dataset).
- North America share of global generator sets revenue (2025): 20.5%.
- Saudi Arabia generator sets revenue (2030 forecast): USD 1,157.8 million.
- Genset market (alternative estimate, 2024): USD 24.5B, projected to reach USD 38.83B by 2033 (CAGR 5.25%).
- Standby generator sets market (2024): USD 26B, projected to reach USD 48.4B by 2034 (CAGR 6.3%).
- Portable generators market (2024): USD 12.9B, projected to reach USD 20.1B by 2034 (CAGR 4.6%).
- U.S. portable generators market (2024): about USD 4.1B.
- Diesel generator market (2025): USD 19.33B, projected to reach USD 40.99B by 2033 (CAGR 9.9%, 2026–2033).
- U.S. outage duration (SAIDI): 366.6 minutes in 2023 and 662.6 minutes in 2024 (with Major Event Days), a key backdrop for backup-power adoption.
Global generator sets market size (chart)
The dataset below shows the generator sets market’s reported revenue level in 2024 and 2025 and the forecast level for 2030 (values in US$M).
| Year | Bar | Revenue (US$M) | ||
|---|---|---|---|---|
| 2024 |
| 34,166.6 | ||
| 2025 |
| 37,050.9 | ||
| 2030 (forecast) |
| 57,926.1 |
Max = 57,926.1 (US$M). Widths: 2024 58.98%, 2025 63.96%, 2030 (forecast) 100.00%.
Growth outlook by sub-market
- Generator sets (overall): One major estimate projects growth from USD 34.17B (2024) to USD 57.93B (2030), implying roughly 69.54% total growth over that window.
- Standby generator sets: Reported at USD 26B (2024) with a 6.3% CAGR through 2034 in one global forecast.
- Portable generators: One forecast places the market at USD 12.9B (2024) rising to USD 20.1B (2034) (CAGR 4.6%).
- Diesel generators: One estimate reports USD 19.33B (2025) rising to USD 40.99B (2033) (CAGR 9.9%, 2026–2033).
Regional highlights
- Asia Pacific is identified as the largest revenue-generating region for generator sets in 2025 in one global dataset.
- North America is reported at 20.5% of global generator sets revenue in 2025 (same dataset).
- Portable generators: Asia Pacific is reported at 33.2% share in 2024 in one portable-generator dataset.
- Diesel generators: Asia Pacific is reported at 30.6% of global revenue share in 2025 in one diesel-generator dataset.
Segment stats (power rating and fuel mix)
- Generator sets by rating: Low power gensets are reported as the largest segment in one generator-sets dataset, with USD 16,229.5M revenue in 2025.
- Diesel by rating: Low power gensets are reported at 44.1% share in 2025 in one diesel-generator dataset.
- Portable fuel mix: Gasoline generators are reported at 42.4% share in 2024 in one portable-generator dataset.
- Standby fuel shift: One standby-genset outlook notes gas standby generator sets growing at over 6.5% CAGR through 2034.
Reliability and outage trends: why demand stays sticky
Backup power demand often rises after prolonged or frequent outages. In the United States, EIA-reported distribution reliability metrics show the average outage duration (SAIDI) at 366.6 minutes in 2023 and 662.6 minutes in 2024 (with Major Event Days included). Long restoration times can accelerate adoption of standby systems for homes, critical services, and businesses with uptime targets.
Why different reports show different market sizes
It’s normal to see large gaps between “generator,” “generator sets,” “gensets,” “portable generators,” and “standby generators” estimates. The differences typically come from:
- Scope: some reports focus on full generator sets (engine + alternator + controls), while others track only certain product categories or only unit sales.
- Inclusions: some include parts/services/aftermarket revenue, while others count equipment sales only.
- Segment focus: standby and portable markets can be modeled as sub-markets or as separate categories, creating inconsistent totals.
Sources
- Grand View Research (Horizon): “Global Generator Sets Market Size & Outlook, 2025–2030” (market size 2024, forecast 2030, CAGR, 2025 revenue, segment and regional highlights). https://www.grandviewresearch.com/horizon/outlook/generator-sets-market-size/global
- Straits Research: “Genset Market” (2024 value, 2025 value, 2033 forecast, CAGR, dominant region). https://straitsresearch.com/report/genset-market
- Global Market Insights: “Portable Generators Market” (2024 value, 2034 forecast, CAGR, U.S. 2024 figure). https://www.gminsights.com/industry-analysis/portable-generators-market
- Global Market Insights: “Standby Generator Sets Market” (2024 value, 2034 forecast, CAGR, gas standby CAGR note). https://www.gminsights.com/industry-analysis/standby-generator-sets-market
- Grand View Research: “Portable Generator Market” (2024 value, 2030 forecast, CAGR, APAC share, gasoline share). https://www.grandviewresearch.com/industry-analysis/portable-generators-market
- Grand View Research: “Diesel Generator Market” (2025 value, 2033 forecast, CAGR, APAC share, low power share). https://www.grandviewresearch.com/industry-analysis/diesel-gensets-industry
- U.S. Energy Information Administration (EIA): Electric Power Annual, reliability tables (SAIDI/SAIFI/CAIDI; 2023 and 2024 U.S. totals). https://www.eia.gov/electricity/annual/table.php?t=epa_11_01.html
- U.S. Energy Information Administration (EIA): Table 11.2 (state and U.S. total reliability metrics for 2024 and 2023). https://www.eia.gov/electricity/annual/html/epa_11_02.html