An increase in the construction of data centers, uncertainties in the grid, and low production of power in several countries are the major driving forces behind the expansion of the genset market. Standing at $17,592.6 million in 2019, the global market is expected to witness a 5.8% CAGR during the forecast period of 2020–2030. At this rate of growth, the market is expected to reach $27,863.0 million by 2030. A genset comprises a fuel-driven engine connected to an alternator, along with other components, such as the exhaust piping and controls.



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The genset market growth will be driven by the increase in the construction of data centers. In contemporary times, there is a huge demand for infrastructure supporting data access, collation, and analysis. Owing to the increasing usage of the internet of things (IoT), digital currencies, autonomous cars, intelligent personal assistants, and digital accounting services, the number of data centers will grow. Facilities such as servers, backup controls, heating, ventilation, and air conditioning (HVAC) systems, and security systems in these data centers require an uninterrupted supply of power.



The construction industry also contributes to the growth of the genset market. Construction activities will increase significantly in developing nations, such as India, Indonesia, and China, due to rapid industrialization. The construction industry of developed countries, such as the U.S. and the U.K., is also expected to witness growth, with a recovery in their economy. The market will also be driven by the strengthening construction industry in the Gulf Cooperation Council (GCC) countries, on account of the integration of technology in business practices, reduced geopolitical uncertainties, fiscal reforms, and recovery in oil prices.


Geographically, the Asia-Pacific region generated the maximum revenue for the genset market players during the historical period of 2014–2019. The poor power infrastructure in many APAC countries contributes to the increasing demand for generators. The demand for power backup from residential complexes and developing telecommunications infrastructure contributes significantly to the expansion of the market in this region. The dominance of the APAC region is also driven by government industrial initiatives, such as Making Indonesia 4.0, Made in China 20250, and Make in India.