Electric Generator Market is expected to grow at a CAGR of 6.3% through 2030F
The global Electric Generator Market is
expected to be led by North America, driven by Growth in Construction and
Industrial Sectors and Expansion of Data Centers and Telecom Infrastructure during
the forecast period 2026-2030F
According to TechSci Research
report, “Electric Generator
Market - Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2030F, The Global Electric Generator Market was valued at
USD 33.1 billion in 2024 and is expected to reach USD 48.2 billion by 2030 with
a CAGR of 6.3% through 2030. One such
driver is the increasing frequency of natural disasters and climate-related
events, such as hurricanes, floods, and wildfires, which have heightened the
need for emergency power solutions across residential, commercial, and public
sectors. As a result, both governments and private sectors are investing
heavily in standby power systems to ensure continuity during grid failures.
Another
significant driver is the growing demand from the telecommunications and data
center sectors, where even a momentary power disruption can lead to substantial
financial and operational losses. The global boom in internet usage, cloud
computing, and remote working models has made power reliability a top priority
in these industries, increasing the adoption of generators for uninterrupted
power supply. Furthermore,
military operations and defense infrastructure in remote or conflict-prone
regions rely heavily on mobile and stationary electric generators for
consistent power. Likewise, off-grid renewable energy integration is gaining
traction, where generators serve as backup sources to compensate for
intermittent solar or wind energy generation. Lastly, the increasing use of
hybrid generators and smart generator systems equipped with IoT and remote
monitoring capabilities is opening up new growth avenues, improving operational
efficiency, and reducing downtime.
Browse over XX market data Figures
spread through XX Pages and an in-depth TOC on the "Global Electric Generator Market"
Based on Type, Peak Shaving segment
dominated the Electric Generator Market in 2024 and maintain its leadership
throughout the forecast period, driven by the growing need for efficient energy
management strategies across industries, commercial establishments, and utility
sectors. Peak shaving refers to the process of using generators to reduce the
amount of electricity purchased from the utility company during periods of high
demand—commonly known as "peak hours." During these times,
electricity rates are significantly higher due to increased demand on the grid.
By using electric generators to supply part of their power needs during these
periods, organizations can avoid peak demand charges and reduce overall energy
costs.
As global energy prices continue to
fluctuate and demand increases, especially during extreme weather events, peak
shaving becomes a critical cost-saving measure. Large manufacturing plants,
data centers, hospitals, and commercial buildings are increasingly adopting
this strategy to ensure both operational efficiency and economic benefits.
Moreover, with utilities in many countries implementing time-of-use pricing,
where electricity costs vary throughout the day, peak shaving with generators
offers a practical solution for managing load and reducing dependency on
expensive grid power.
Another factor contributing to the
growth of this segment is the rising integration of digital energy management
systems that can automatically switch to generator power during peak demand
periods. These intelligent systems allow for seamless load shifting without
disrupting operations, further boosting the appeal of peak shaving strategies.
In industries with high power requirements, the cost savings achieved through
peak shaving can be substantial, often leading to a quick return on investment
in generator systems.
Furthermore, the expansion of renewable
energy sources has also played a role in the popularity of peak shaving. As
solar and wind power become more common, their intermittent nature can lead to
sudden demand spikes when output drops. Electric generators used for peak
shaving help stabilize power supply during such fluctuations, making them
essential in hybrid and smart grid systems.
Environmental regulations and the push
for cleaner energy have also prompted manufacturers to develop more efficient
and lower-emission generators for peak shaving applications. This includes
innovations in gas-powered generators, hybrid systems, and advanced fuel
management technologies. In conclusion, the dominance of the peak shaving
segment in the global electric generator market is fueled by the need for cost
efficiency, energy reliability, and intelligent load management. As more
industries focus on optimizing energy use and reducing operational expenses,
the demand for generators capable of peak shaving is expected to remain strong
in the coming years.
Based on region, Asia Pacific is emerging as the
fastest-growing region for the Electric Generator Market, driven by robust
economic development, rapid industrialization, and expanding urban
infrastructure. Countries like China, India, Japan, South Korea, and Southeast
Asian nations are witnessing a surge in construction activities, manufacturing
operations, and infrastructure projects—all of which demand reliable and
continuous power supply. In many parts of the region, unstable grid
infrastructure and frequent power outages are common, especially in remote or
rural areas, which has further fueled the adoption of electric generators as
backup and primary power sources.
The region’s booming data center
industry, growth in healthcare facilities, and increasing number of commercial
and residential developments also contribute to the rising demand for
generators. Moreover, the rising population and increasing energy consumption
are compelling governments and private entities to invest in energy security
and backup solutions. The growth of the oil and gas, mining, and transportation
sectors in Asia Pacific adds to the demand for portable and stationary
generators across diverse applications.
Key market players in the Electric Generator
Market are: -
- ABB Ltd.
- Aggreko plc
- ASCO Power Technologies, L.P.
- Deutz AG
- Doosan Corporation
- FG Wilson Engineering Ltd
- General Electric Company
- Himoinsa S.L.
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“The global electric generator market is
poised for significant growth, driven by several emerging opportunities. Rapid
industrialization and infrastructure development, particularly in Asia-Pacific
and Africa, are increasing the demand for reliable power solutions. The
expansion of data centers, fueled by the rise of AI and cloud computing,
necessitates robust backup power systems to ensure uninterrupted operations.
Additionally, the increasing frequency of extreme weather events and natural
disasters worldwide underscores the need for dependable emergency power
sources, boosting generator adoption in residential and commercial sectors.Technological advancements, such as the integration of IoT and smart monitoring
in generators, enhance efficiency and predictive maintenance capabilities,
attracting more users. Furthermore, the global push towards renewable energy
and hybrid systems presents opportunities for generators that can seamlessly
integrate with solar and wind power setups, ensuring consistent energy supply.
Government initiatives promoting rural electrification and infrastructure
resilience further support market expansion. Collectively, these factors
contribute to a robust outlook for the electric generator market in the coming
years.” said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based global management consulting firm.
“Electric Generator
Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
Segmented By Type (Stand By, Peak Shaving, Continuous), By Application (Mining,
Oil & Gas, Construction, Residential, commercial, Manufacturing, Others),
By Region, By Competition, 2020-2030F” has evaluated the future growth
potential of Electric Generator Market and provides statistics &
information on market size, structure, and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Electric Generator Market.
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