The generator sets market is expected to witness significant growth by 2030, recording a considerable CAGR over the forecast period. Rising prevalence of power outages, growing consumer awareness about generator sets, and increasing availability of eco-friendly and fuel-efficient generator sets are likely to foster industry outlook in the coming years.

The generator sets market has been bifurcated based on voltage, fuel, end use, application, and region. On the basis of voltage, the market has been segmented into < 50 kVA, 50-125 kVA, 125-200 kVA, 200-330 kVA, 330-750 kVA, and > 750 kVA.

The < 50 kVA sub-segment is anticipated to observe substantial growth over the assessment period. Increasing demand for small and low power generator sets is likely to fuel product demand in the coming years.

The 330-750 kVA sub-segment is also projected to garner a sizable revenue over the assessment period. Infrastructure development and ongoing construction boom is expected to have a positive impact on segmental growth.

Based on fuel, the generator sets market has further been divided into gas, diesel, and hybrid.

The hybrid generator sets market valuation is estimated to surpass USD 5.5 billion by 2030. Hybrid generator sets are compact, eco-friendly, and low fuel consuming, which is expected to drive segmental growth through the forecast period.

In terms of end-use, the market has been categorized into commercial, residential, and industrial. The commercial sub-segment has further been divided into telecom, data centers, healthcare, government centers, educational institutions, retail sales, hospitality, real estate, infrastructure, and commercial complex.

The educational institutions end use segment is anticipated to witness profitable growth through the forecast period. Ongoing development of universities and schools is set to boost product adoption in the coming years.

The hospital end use market is also projected to observe sizable growth by the end of 2030. Surging demand load, growing end-user awareness, and rising instances of power outages are some key factors favoring the business landscape.

Based on industrial application, the market has further been divided into oil & gas, construction, manufacturing, mining, electric utilities, and transportation & logistics.

The manufacturing end-use segment is likely to grow at a notable CAGR through the analysis timeframe. Industry automation following the adoption of work-from-home regimes is expected to augment industry expansion by the end of 2030.

The transportation & logistics end-use segment is projected to grow at a CAGR of over 7% through the forecast period to amass a considerable revenue share by 2030. Gensets are vital in the transportation and logistics sector, particularly for overseas shipping or temperature-sensitive cargo, which is likely to fuel market demand in the following years.

From the regional perspective, the Africa market is estimated to expand at a stable pace in the analysis period. The inadequacy of utility grids to cater to the burgeoning population is likely to encourage product adoption across the region, thereby fostering industry outlook through the forthcoming years.

The Latin America region is also projected to grow at a sizable CAGR through the assessment timeframe. Increasing electricity demand, coupled with the rapid economic development, is speculated to boost regional market expansion.