US Generator Market size was valued at USD 5.8 Billion in 2024 and is expected to reach USD 11.8 Billion by 2033, at a CAGR of 6.3% during the forecast period 2024 – 2033.
US Generator Market: Overview
A generator is a device that uses mechanical energy to produce electrical energy. It functions on the electromagnetic induction principle, which states that an electric current is generated when a conductor moves through a magnetic field.
In the US generator market, several trends are shaping the industry landscape. One notable trend is the growing use of renewable energy solutions, which is driven by environmental restrictions and sustainability programs. This includes an increasing demand for natural gas-powered generators, which emit fewer pollutants than typical diesel generators.
Furthermore, there is a growing interest in renewable energy sources such as solar and wind power, which has led to the development of hybrid generator systems that mix conventional and clean energy technologies for increased efficiency and lower environmental effects.
Another trend is the advent of smart technologies such as remote monitoring, predictive maintenance, and digital controls, which improve the reliability and performance of generator systems while allowing for proactive management and optimization of power production assets.
Furthermore, there is a growing emphasis on resilience and grid independence, with businesses and homeowners investing in standby and backup power solutions to reduce the risk of grid outages, extreme weather events, and other disruptions while ensuring uninterrupted power supply and operational continuity.
By type, the stationary segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The trend in stationary generators is toward higher use of natural gas and renewable energy sources, as well as the incorporation of smart technology for remote monitoring, efficiency optimization, and grid connectivity.
By voltage rating, the 350 kVA to 1000 kVA segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. The 350 kVA to 1000 kVA generator category is seeing a growth in demand for efficient, environmentally friendly solutions with modern control systems, remote monitoring capabilities, and variable fuel alternatives.
By application, the continuous power segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Continuous power trends include a rising need for dependable energy, which drives innovations in generator technology such as improved efficiency, cleaner fuels, and smart integration for uninterrupted power delivery, particularly in important applications.
By end user, the industrial segment held the highest market share in 2023 and is expected to keep its dominance during the forecast period 2024-2033. Automation and robotics integration, the use of renewable energy sources, an emphasis on sustainability and eco-friendly practices, digitalization for increased efficiency, and the advent of industrial Internet of Things (IIoT) technologies are some of the industrial trends.
Aksa Power Generation designs, manufactures, distributes, sells and services electrical power generators worldwide.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 5.8 Billion |
| Projected Market Size in 2033 | USD 11.8 Billion |
| Market Size in 2023 | USD 5.4 Billion |
| CAGR Growth Rate | 6.3% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, Voltage Rating, Application, End User and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Country Scope | US |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
CMI has comprehensively analyzed the US Generator market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict an in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this US Generator industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the US Generator Market:
- Caterpillar Inc.
- Generac Holdings Inc.
- Cummins Inc.
- Kohler Co.
- Briggs & Stratton Corporation
- Wärtsilä Corporation
- MTU Onsite Energy
- Mitsubishi Heavy Industries Ltd.
- Wacker Neuson SE
- Yanmar Holdings Co. Ltd.
- Aggreko PLC
- Atlas Copco AB
- Himoinsa S.L.
- Ingersoll Rand Inc.
- Kirloskar Electric Company Ltd.
- MQ Power Corporation
- Multiquip Inc.
- SDMO Industries
- Siemens AG
- FG Wilson
- Others
The US Generator Market is segmented as follows:
By Type
- Stationary
- Portable
By Voltage Rating
- Below 100 kVA
- 100kVA to 350 kVA
- 350 kVA to 1000 kVA
- Above 1,000 kVA
By Application
- Backup Power
- Continuous Power
- Peak Shaving Power
By End User
- Residential
- Commercial
- Industrial