Market Overview

The Global Generator Sets Market was valued at USD 33,665.3 million in 2023 and is expected to reach USD 62,775.1 million by 2031 while growing at a CAGR of 8.1% during the forecast period (2024-2031).

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global generator sets market growth. A generator set, also called a genset or power generator, converts mechanical energy into electrical energy. Comprising an engine and a generator or alternator, it is widely used for reliable electricity generation during power outages or in areas without grid access.

Increasing power demand and the rising frequency of power outages drive the growth of the generator sets market. However, obstacles like environmental regulations, emissions standards, and the increasing adoption of energy storage solutions may hinder market expansion.

Furthermore, the global generator sets industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Capacity Analysis

The Global Generator Sets Market is segmented among Below 75 kVA, 75-350 kVA, and Above 350 kVA, based on Capacity. In 2023, Below 75 kVA accounted for the majority of the market share*.

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Segmentation – By End-User Analysis

The Global Generator Sets Market is segmented among Residential, Commercial, and Industrial, based on End-User. In 2023, Industrial accounted for the majority of the market share*.

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global Generator Sets Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, Asia Pacific dominated the market with the highest market share, while North America is expected to grow with the highest CAGR during the forecast period (2024 – 2031).

 *Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are AKSA Power Generation, Briggs & Stratton Corporation, Caterpillar Inc., Cooper Corporation, Cummins Inc., Doosan Corporation, Generac Power Systems, Honda India Power Products Ltd., Kohler Co., Mitsubishi Heavy Industries Ltd., and MTU Onsite Energy.

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Generator Sets Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Generator Sets Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Generator Sets Market Segmentation, By Capacity  

• Global Generator Sets Market Share Analysis, By Capacity

• Global Generator Sets Market Growth Analysis, By Capacity

• Global Generator Sets Market Trends, By Capacity  

o Below 75 kVA

o 75-350 kVA

o Above 350 kVA

6. Global Generator Sets Market Segmentation, By End-User  

• Global Generator Sets Market Share Analysis, By End-User  

• Global Generator Sets Market Growth Analysis, By End-User

• Global Generator Sets Market Trends, By End-User  

o Residential

o Commercial

o Industrial

7. Global Generator Sets Market Segmentation, By Fuel Type   

• Global Generator Sets Market Share Analysis, By Fuel Type   

• Global Generator Sets Market Growth Analysis, By Fuel Type   

• Global Generator Sets Market Trends, By Fuel Type   

o Gas

o Diesel

o Other Fuel Types

8. Global Generator Sets Market Segmentation, By Application  

• Global Generator Sets Market Share Analysis, By Application  

• Global Generator Sets Market Growth Analysis, By Application  

• Global Generator Sets Market Trends, By Application  

o Standby Backup Power

o Prime/Continuous Power

o Peak Shaving Power

9. Global Generator Sets Market Segmentation, By Region

• Global Generator Sets Market Share Analysis, By Region

• Global Generator Sets Market Growth Analysis, By Region

• Global Generator Sets Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

10. Competitive Landscape

• AKSA Power Generation*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• Briggs & Stratton Corporation

• Caterpillar Inc.

• Cooper Corporation

• Cummins Inc.

• Doosan Corporation

• Generac Power Systems

• Honda India Power Products Ltd.

• Kohler Co.

• Mitsubishi Heavy Industries Ltd.

• MTU Onsite Energy  

 *Similar analysis will be provided for each company listed above.