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U.S. Generator Sets Market Size

Report ID: GMI6447
Published Date: Aug 2023
Report Format: PDF

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U.S. Generator Sets Market Size

U.S. Generator Sets Market size was valued at USD 8.1 billion in 2023 and is estimated to grow at a CAGR of 7.1% between 2024 and 2032. Increasing number of extreme weather-related events and natural disasters led to a heightened awareness of the importance of reliable backup power solutions. In addition, stringent environmental regulations, and emissions standards along with development of efficient generator sets has influenced the demand for these units across the country.

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The paradigm shift towards cleaner and more sustainable energy solutions in line with ongoing improvements in generator efficiency, emission reduction, and automation has augmented the product penetration. Rapid integration of IoT technologies including predictive maintenance, diagnostics, and remote monitoring coupled with growing industrial and construction activities will foster the industry landscape. Moreover, the expansion of residential, commercial, and industrial establishment in line with rising demand for uninterruptible power supply will further drive the business outlook.

U.S. Generator Sets Market Report Attributes
Report Attribute	Details
Base Year:	2023
U.S. Generator Sets Market Size in 2023:	USD 8.1 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	7.1%
2032 Value Projection:	USD 15.1 Billion
Historical Data for:	2019 to 2023
No. of Pages:	184
Tables, Charts & Figures:	120
Segments covered:	Power Rating, Fuel, End Use, and Application
Growth Drivers:	Increasing intensity of weather-related disasters Aging grid infrastructure & growing demand for uninterrupted power supply Booming construction sector Rapid industrialization & increasing infrastructural investments
Pitfalls & Challenges:	High initial investment Shifting trends toward renewable power generation

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Authors: Ankit Gupta, Shubham Chaudhary

Frequently Asked Questions (FAQ) :

The market size for generator sets in U.S. reached USD 8.1 billion in 2023 and is anticipated to record around 7.1% CAGR from 2024 to 2032.

The diesel gensets segment is projected to cross USD 3 billion by 2032, owing to the need for reliable and uninterrupted power supply with cost-effective solutions.

The standby generator sets market in U.S. is estimated to surpass USD 10 billion by 2032, on account of uninterrupted power supply and scalability offered by these gensets, along with the emission control technologies.

Kohler Co., Yamaha Motor Co., Generac Power Systems, Sterling & Wilson Pvt., HIMOINSA, Caterpillar, Atlas Copco AB, J C Bamford Excavators Ltd., Rolls-Royce plc, Deere & Company, Mitsubishi Heavy Industries, Ltd., Wärtsilä, Rapid Power Generation, Siemens Energy, American Honda Motor Co., Cummins, Briggs & Stratton, and Kirloskar.