Top Generator Companies

The generator market is expected to reach USD 33.45 billion by 2030 from an estimated USD 25.31 billion in 2025, registering a CAGR of 5.7% during the forecast period (2025–2030). The market is mainly driven by the escalating power demand due to the rapid industrialization, urbanization, and population growth. Extreme weather events are leading to power outages and grid instability. As a result, businesses and households are increasingly investing in backup power solutions. In addition, data centers, healthcare, and manufacturing sectors require continuous power to maintain critical operations. Since renewable sources of energy, such as solar and wind, are still intermittent, the use of diesel and other forms of generators becomes vital in providing continuous power when there is an energy shortage.

Key players operating in the generator market include  Caterpillar Inc. (US), Cummins Inc. (US), Rolls-Royce plc (UK), Generac Power Systems, Inc. (US), and MITSUBISHI HEAVY INDUSTRIES (Japan). These companies focus on product launches, collaborations, joint ventures, investments, expansions, contracts, agreements, partnerships, fundings, and acquisitions as strategies to grow and expand their presence in the market.

To know about the assumptions considered for the study download the pdf brochure

For Instance, in August 2025, Caterpillar launched the new Cat D1500 diesel generator set, delivering 1.5 MW of standby power with a compact, space-saving 32.1-liter Cat C32B engine. It offers up to 13% less floor space and 32% less weight, meeting ISO 8528-5, NFPA 110, and EPA Tier 2 standards for reliable standby performance.

Caterpillar Inc. (US)

Caterpillar Inc. is the world’s leading manufacturer of heavy equipment and solutions for the mining, construction, energy, and transportation industries. The four key business segments, each targeted towards several different industries and markets, include Construction Industries, Resource Industries, Energy & Transportation, and Financial Products. Under the Energy & Transportation segment, the company sells power generation products and services, including reciprocating engines, industrial gas turbines, diesel-electric locomotives, and their respective components. This segment caters to its diverse customers in the energy, marine, rail, and industrial markets. The company offers a comprehensive range of generator sets for power generation, industrial and commercial, oil and gas, marine, and rail and transport applications. It conducts business in over 190 countries worldwide and holds major facilities in approximately 25 countries. It offers a broad portfolio of value-added, innovative, and reliable power solutions that precisely address the requirements of industrial/construction, agriculture, and rental customers. Its products are also available in alternative low-carbon options: biodiesel, renewable diesel, and biogas.

Cummins Inc. (US)

Cummins Inc. is a global leader in engineering, designing, and manufacturing a diverse range of products. From power generation equipment to filtration systems for diesel and natural gas engines, the company operates under five principal business segments: Engine, Distribution, Components, Power Systems, and Accelera. With a strong global reach, it conducts business through over 500 wholly-owned joint ventures, independent distributors, and over 10,000 locations offering authorized Cummins products and services in over 190 countries and territories. There are several research and development facilities and global centers for marketing, administration, supply chain management, distribution, and manufacturing. It demonstrates strong competency in integrating high-efficiency generator technology with advanced power electronics and control systems for sustainable mobility and industrial applications.

Market Ranking

The generator market is competitive, with the top five players—Caterpillar (US), Cummins Inc. (US), Rolls-Royce plc (UK), Generac Power Systems, Inc. (US), and MITSUBISHI HEAVY INDUSTRIES (Japan)—expanding their presence through extensive product portfolios and strong distribution networks. Caterpillar and Cummins maintain strong global footprints through advanced solutions and wide service networks. MITSUBISHI HEAVY INDUSTRIES focuses on large-capacity generators for power plants and industrial facilities. Rolls-Royce plc (UK) leverages its advanced engineering expertise to deliver high-performance generator systems optimized for critical power and defense applications. Generac Power Systems, Inc. (US) excels in residential, commercial, and portable generator segments through innovation in smart, connected backup power solutions. The rest of the market remains competitive, comprising regional and niche manufacturers across Asia Pacific, the Middle East, and Europe. The market competition is shaped by increasing demand for fuel-efficient, low-emission, and digitally integrated generators. Leading players continue to invest in hybrid technologies, remote monitoring systems, and global expansion strategies to strengthen their competitive edge.

Related Reports:

Generator Market by Fuel Type (Diesel, Gas, LPG, Biofuel), Power Rating (Up to 50 kW, 51–280 kW, 281–500 kW, 501–2,000 kW, 2,001–3,500 kW, Above 3,500 kW), Application, End User, Design, Sales Channel, and Region - Global Forecast to 2030

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets Inc.
1615 South Congress Ave.
Suite 103,
Delray Beach, FL 33445
USA : 1-888-600-6441
sales@marketsandmarkets.com