Genset Market to Reach $38.27 Billion by 2030, Fueling Growth in Data Centers and Industrialization

According to the latest market research study published by P&S Intelligence, the global generator set (genset) market is poised for substantial growth, projected to reach USD 38,274.2 million by 2030, expanding from USD 25,692.1 million in 2024. This growth is expected at a CAGR of 6.80% from 2025 to 2030, driven by a surge in industrialization, urbanization, and the growing reliance on backup power solutions across multiple industries. Key sectors such as construction, data centers, and the oil & gas industry are major contributors to this growth.

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The increasing frequency of natural and man-made disasters, such as floods, earthquakes, and cyberattacks, has further amplified the need for backup power solutions, ensuring critical operations remain functional. Furthermore, as digital infrastructure becomes more complex and reliant on data-driven systems, the demand for gensets in data centers, where uninterrupted power is vital, continues to rise. Major regions like North America and Asia-Pacific are leading the market, with Asia-Pacific being the largest market share holder. The increasing establishment of data centers worldwide, especially in emerging markets, is anticipated to be a significant driver of the genset market's expansion.

Key Insights

The market's primary growth driver is the increasing demand for reliable backup power solutions in industries such as construction, oil & gas, and telecommunications.

Data centers, especially those catering to hyperscale applications, are a growing source of demand for gensets, driven by the rise in data consumption and cloud computing.

Diesel-powered gensets hold a substantial share in the market due to their fuel efficiency and reliability, especially in remote or off-grid locations.

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The rising number of industrial, commercial, and residential construction projects is driving substantial demand for gensets, which are essential on construction sites where access to grid power may be limited.

Technological innovations, including emissions reduction technologies and noise control solutions, are shaping market trends, as environmental concerns push for more sustainable and eco-friendly genset solutions.

Strategic collaborations and acquisitions by key players are enabling the market to develop more efficient and cost-effective gensets, expanding their reach into emerging markets and new applications.

Browse More Report Published by P&S Intelligence:

U.S. Diesel Genset Market Size & Share Analysis: https://www.psmarketresearch.com/market-analysis/us-diesel-genset-market

India Diesel Genset Market Growth Analysis: https://www.psmarketresearch.com/market-analysis/india-diesel-genset-market

DR Congo Diesel Generator Set Market Size & Share Analysis: https://www.psmarketresearch.com/market-analysis/democratic-republic-congo-dg-set-market

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