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Generator market to grow by USD 21.4 billion from 2024-2028, driven by rapid industrialization and construction equipment, AI-powered report by Technavio

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NEW YORK, Sept. 26, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The global generator market size is estimated to grow by USD 21.4 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 8.09%  during the forecast period. Rapid industrialization and growing construction equipment is driving market growth, with a trend towards growing rural electrification programs. However, rising adoption of green energy technologies  poses a challenge. Key market players include ABB Ltd., AKSA Power Generation, Atlas Copco AB, Briggs and Stratton LLC, Caterpillar Inc., Cooper Corp., Cummins Inc., Doosan Corp., Eaton Corp. Plc, Generac Holdings Inc., General Electric Co., Honda Motor Co. Ltd., Kirloskar Oil Engines Ltd., Kohler Co., Kubota Corp., Mitsubishi Heavy Industries Ltd., Multiquip Inc., PR INDUSTRIAL Srl, Siemens AG, and Yamaha Motor Co. Ltd..

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Generator Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 8.09%

Market growth 2024-2028

USD 21385.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

7.32

Regional analysis

APAC, Europe, Middle East and Africa, North America, and South America

Performing market contribution

APAC at 48%

Key countries

China, Nigeria, US, India, and Germany

Key companies profiled

ABB Ltd., AKSA Power Generation, Atlas Copco AB, Briggs and Stratton LLC, Caterpillar Inc., Cooper Corp., Cummins Inc., Doosan Corp., Eaton Corp. Plc, Generac Holdings Inc., General Electric Co., Honda Motor Co. Ltd., Kirloskar Oil Engines Ltd., Kohler Co., Kubota Corp., Mitsubishi Heavy Industries Ltd., Multiquip Inc., PR INDUSTRIAL Srl, Siemens AG, and Yamaha Motor Co. Ltd.

Market Driver

The global generator market is poised for growth due to the increasing energy demand in various regions. Developed countries like the US, UK, and Japan, as well as emerging economies such as China, and developing regions including Southeast Asia and the Arab States of the GCC, are experiencing power production and consumption gaps. Industrialization in rural areas has further escalated power requirements for industrial purposes, leading to a significant increase in demand for uninterrupted power supplies. These factors are expected to provide substantial opportunities for the generator market during the forecast period. 

The Generator Market is experiencing significant trends in various sectors, including agriculture and construction. Agricultural generators are gaining popularity as alternative fuel sources like bi-fuel generators and battery storage systems reduce reliance on diesel. In construction, continuous load requirements for critical infrastructure and communication systems necessitate the use of reliable generators. Developing regions are also embracing generator technology for electrification. Cummins and Generac lead the generator market ecosystem, providing customer service and innovative generator technology. Emission norms and environmental regulations are driving the shift towards hybrid generators and cleaner fuel sources. Factories, hospitals, data centers, and other industries rely on generators for backup power and energy storage. Downtime due to fuel prices and availability can result in substantial financial losses, making generator efficiency and reliability crucial. Electromagnetic induction plays a vital role in generator technology, ensuring electrical energy generation. Emergency response centers and critical infrastructure require immediate power response. Indirect sales channels expand generator market reach, making generator technology accessible to a broader customer base. Overall, the generator market is evolving to meet diverse power needs while addressing environmental concerns and improving efficiency. 

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Market Challenges

The generation and consumption of power in manufacturing facilities contribute substantially to carbon emissions. Coal-powered electricity, in particular, results in higher carbon output compared to renewable energy sources. With the expansion of businesses through new constructions, the installation of energy-efficient systems with monitoring capabilities is crucial for reducing power consumption and carbon emissions. In the US, manufacturing facilities account for a substantial carbon footprint annually, surpassing many other countries. The increasing awareness of harmful carbon emissions and favorable government initiatives for renewable energy adoption may hinder the growth of the generator market during the forecast period.In the Generator Market, businesses face various challenges. Noise pollution from traditional power sources like diesel generators can disrupt operations in oil & gas projects and urban areas. In oilfield projects and remote locations, ensuring a reliable power supply for output terminals and production lines is crucial for productivity. Power reliability is a major concern for industries, especially in sectors like pharmaceuticals and telecom, where power outages can lead to significant losses. Power sources and power supply strategies must consider power sources like renewable energy systems, such as solar panels and wind turbines, to mitigate the risks of power outages. Regulations for emissions and noise pollution add complexity to strategy planning for utility companies and third-party service providers. Renewable energy sources and systems are becoming increasingly important for power generation capacity in rural areas and public buildings. Prime movers like rotors and stators in generators require regular maintenance to ensure optimal performance. Transportation and logistics of heavy equipment like generators and renewable energy systems can also pose challenges. In conclusion, businesses in the generator market must address challenges related to power reliability, power sources, regulations, and logistics to ensure productivity and profitability.

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Segment Overview 

This generator market report extensively covers market segmentation by  

Type 1.1 Stationary1.2 PortableEnd-user 2.1 Industrial2.2 Commercial2.3 ResidentialGeography 3.1 APAC3.2 Europe3.3 Middle East and Africa3.4 North America3.5 South America

1.1 Stationary-  Stationary generators, particularly those in the low-capacity range, are essential for small facilities with minimal energy requirements and short operating durations. These generators are affordably priced and require less space compared to high-power rating generators. Diesel is the preferred fuel type for large standby generators due to their cost-effectiveness and extended equipment lifetime. Backup generators are crucial for industrial buildings to maintain operations during power outages, ensuring the functionality of critical equipment and safety systems. APAC is a significant market for stationary generators due to low electrification rates and increasing electricity demand in countries like China and Southeast Asia. Many people in the region lack access to electricity, and outdated power infrastructure hampers renovation efforts. Consequently, frequent power outages necessitate the use of auxiliary power supplies, such as stationary generators, contributing to market growth. Myanmar, for instance, experiences a high demand for generators due to its energy deficiency. In summary, stationary generators cater to various industries and regions, providing uninterrupted power and reliability.

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Research Analysis

The Generator Market has witnessed significant growth in recent years, driven by industrialization and urbanization, which have increased the demand for reliable power sources in various sectors. Generators play a crucial role in providing electrical energy to remote locations, rural areas, construction sites, mining operations, manufacturing plants, and various other applications. The market encompasses a wide range of generators, including gensets, diesel generators, and oilfield projects, catering to residential, commercial, agricultural, and industrial needs. The industry dynamics of the generator market are influenced by several factors, including energy demand, mechanical sources, electromagnetic induction, prime mover, rotor, and stator. Prime movers like diesel engines, natural gas engines, and steam turbines are commonly used to power generators. The market is expected to continue its growth trajectory, driven by the increasing need for power generation capacity in various sectors. Strategy planning for key players in the market involves staying abreast of industry trends, technological advancements, and regulatory requirements to maintain a competitive edge.

Market Research Overview

The Generator Market encompasses a diverse ecosystem of electrical power generation solutions catering to various industries and applications. Agriculture and construction sectors rely on generators for continuous load requirements, while critical infrastructure such as data centers and hospitals demand uninterrupted power supply. Generators come in various types, including diesel, gas, and bi-fuel, with advancements in technology leading to alternatives like inverter and hybrid generators. Environmental regulations aim to reduce emissions and noise pollution, driving the adoption of renewable energy sources and battery storage. Industry dynamics include factors like fuel prices, downtime, and financial losses due to power outages. Prime movers like internal combustion engines and electromagnetic induction power the generators, with mechanical sources also contributing. Remote locations and developing regions continue to present significant growth opportunities. Manufacturing sectors, oil & gas, mining, and marine industries are key consumers, with machinery and production lines relying on these power sources for productivity. Communication and emergency response centers also utilize generators for critical operations. The market is characterized by a complex ecosystem of manufacturers, distributors, and indirect sales channels, with key players like Cummins, Generac, and others offering comprehensive generator solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeStationaryPortableEnd-userIndustrialCommercialResidentialGeographyAPACEuropeMiddle East And AfricaNorth AmericaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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AI-Powered Connectivity: APAC Charts a Path to a Smarter Digital Future

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Asia-Pacific’s first Broadband Development Summit brings regulators and operators to Bangkok to set the agenda

BANGKOK, July 19, 2026 /PRNewswire/ — Government officials, standards bodies and telecom operators gathered in Bangkok on 14 July for the inaugural Broadband Development Summit APAC 2026, convened by the World Broadband Association (WBBA) to build consensus on AI-era networks.

Participants included the ITU, Thailand’s National Board of the Digital Economy and Society, WBBA, IAB, FNCAP, WAA, NIDA and the IPv6 Council, alongside operators Telkomsel, XLSmart, Surge, Globe, AIS, CMI and HKT and Huawei.

Denny Deng, President of Huawei Asia Pacific Carrier Business, envisions a “faster, smarter, greener” Asia-Pacific.

VOICES FROM THE SUMMIT

“To seize the opportunities of the AI era, we call on the industry to accelerate broadband evolution, advance computing-network synergy, and strengthen the cross-border connectivity. Together, let us build faster, smarter, and greener digital infrastructure for Asia-Pacific.”
— Denny Deng, President of Asia Pacific Carrier Business, Huawei

“High-speed broadband is no longer just about ‘getting online’ — it is the vital infrastructure upon which the entire AI revolution is being built. We view AI not merely as a tool, but as a primary engine for national competitiveness and a catalyst for improving the quality of life for all.”
— Wetang Phuangsup, Ph.D., Secretary-General, the National Board of the Digital Economy and Society, Thailand

“Three initiatives define the road to 2030. We must close the quality divide so the value of broadband reaches everyone. We must build AI-ready networks — 10G access, 800GE cores, intelligence end to end. And we must do it together, through shared standards.”
— Martin Creaner, Director General of WBBA

“Moving towards next-generation networks, network architectures must continue to evolve to deliver broader connectivity, superior quality, enhanced security, and greater intelligence. This evolution is essential for Net5.5G, positioning the network not simply as infrastructure, but as the foundation that enables AI, strengthens resilience and efficiency, and supports digital transformation across industries.”
— Dhruv Dhody, Industry Standardization Expert at Huawei, Chair of the IAB, IETF

“Across Asia-Pacific, fibre is extending beyond homes and offices into rooms, devices, and machines. By working together, we can accelerate fibre innovation and adoption to build truly AI-ready infrastructure.”
— Ilham Nandana, Chair of the Market Intelligence Committee, Fiber Network Council APAC (FNCAP)

“We fixed it before you feel it!  AIS is redefining premium home broadband by combining ultra-fast connectivity with AI-driven network intelligence and smart home ecosystem — delivering proactive, invisible service excellence that transforms connectivity into differentiated customer value and sustainable ARPU growth.”
— Thanit Chaiyaboonthanit, Head of Technology Department, Broadband Business, AIS

“Connecting the Unconnected: Affordable Broadband at Scale. Create equal access to global information and empower Indonesia’s digital society.”
— Shannedy Ong, CTO of Surge Indonesia

“Beyond Connectivity: Telkomsel is transforming into a true value creator. By leveraging our FBB market-leading footprint, we power growth through service excellence, customer loyalty, and a next-generation home ecosystem.”
— Stanislaus Susatyo, Director of Sales, Telkomsel Indonesia

“We stopped treating AI as an add-on feature. Instead, our approach at Globe starts with architecture, embedding intelligence into the very core of how we build, how we sell, and how we operate.
AI continuously monitors network health, customer behavior and service quality. Rather than waiting for failures, the system predicts degradation and initiates corrective actions. By maintaining minute-level awareness of network health, our systems automatically resolve 30% of all Wi-Fi issues without any human intervention.”
— Danny Theseira, Head of Broadband Business Group at Globe Telecom

“Huawei is driving the Optics-AI Synergy to foster their collaborative growth. Through AI-ON, operators could build an AI-centric all-optical target network and establish 1-5-20ms latency circles across the Asia Pacific region. AI-ON also supports efficient computing access and usage while delivering an ultimate network experience through gigabit/ultra-gigabit home broadband, accelerating the widespread adoption of AI services.”
— Kim Jin, Vice President & Chief Marketing Officer Optical Business Product Line, Huawei

“Connectivity is not just about technology. It is a lifeline, a platform for opportunity, and a driver of sustainable development. I believe the intersection of connectivity and artificial intelligence will shape the future of smarter, more resilient networks.”
— Dr. Cosmas Zavazava, Director of the Telecommunication Development Bureau, ITU

“Performance and user experience are the essential path to the next-generation WLAN. Based on standards and AI-driven innovation, let’s jointly explore the path to the future autonomous WLAN with all the stakeholders.”
— Dr. Crane H. Yang, Secretary-General, World WLAN Application Alliance (WAA)

“At the summit, NIDA and WBBA signed an MOU to accelerate next-generation network evolution and establish pioneering smart city benchmarks through the co-development of industry standards, the harmonization of global regulations, and the sharing of vertical industry insights.
NIDA focuses on advancing network architecture standards, while WBBA drives global consensus on broadband evolution. This natural strategic complementarity creates vast opportunities for future collaboration.”
— Joey Deng, Secretary-General of NIDA

“ION-2030 develops the global standard for next generation optical networks in the AI era. It provides exceptional AI application and service experience. The WBBA and ITU will jointly accelerate its development, and this is a unique opportunity for Asia-Pacific stakeholders to actively influence the future of optical broadband networks.”
— Dr. Marcus Brunner, Chief Expert Standardization, WBBA WG1 Chair and Vice-Chair of ETSI ISG F5G

“The transition into the AI era demands a high-quality, deterministic digital foundation. By releasing Net5.5G policy guidelines, Malaysia is accelerating the evolution of next-generation network standards based on IPv6, establishing an innovative infrastructure to unleash AI’s value and drive a prosperous digital economy for 2030.”
— Prof. Sureswaran Ramadass, Chair of APAC at IPv6 Council, Industry Partner of WBBA

“The digital economy is thriving across the Asia-Pacific region, with AI emerging as a core catalyst for intelligent transformation. China Mobile International (CMI) is driving regional growth by integrating China’s advanced AI capabilities with comprehensive communications, computing, and AI services. Moving forward, CMI will collaborate closely with industry partners to foster a shared, AI-driven future for the region.”
— Paul Lin, Managing Director of Commercial and Technology, Asia Pacific, China Mobile International

“Next-generation network infrastructure is the oxygen of the intelligent economy. By integrating cutting-edge 800G connectivity with quantum-safe security, HKT is laying the essential foundations to keep Hong Kong’s enterprises highly competitive, secure, and ready for the computing paradigm shifts of tomorrow.”
— Wilson Cheung, Vice President, Broadband Design & Cyber Security, HKT

“The evolution toward Net5.5G AI WAN is an important step in strengthening XLSMART’s transport network for the future. By progressively adopting AI-assisted operations, SRv6, SDN, service differentiation, and higher-capacity transport infrastructure, we are enhancing network intelligence, operational efficiency, and service resilience while supporting long-term sustainability. This transformation is a continuous journey that aligns with the industry’s vision of AI-native broadband networks. Through collaboration with our technology partners and the broader ecosystem, we will continue to develop capabilities that deliver better network performance and support Indonesia’s growing digital connectivity needs.”
— Regie Ginanjar, Head of Transport Autonomy & Orchestration, Transport Network Transformation, XLSMART

“For the AI era, Huawei upgrades the IP bearer network via security resilience, multi-dimensional awareness, and network autonomy. This empowers carriers to guarantee service experience, accelerate monetization, and enhance efficiency, ushering in a new chapter of intelligent connectivity.”
— Arthur Wang, Vice President of Data Communication Product Line, Huawei

A CONVERGING VIEW

Speakers agreed AI is shifting networks from connectivity to intelligent connectivity, as broadband, IP, computing and cross-border infrastructure converge to support innovation and coordination.

WBBA launched the AI-Net Certification, a global benchmark for national policy, industrial ecosystems and network intelligence. XLSmart was named first AI-Net Champion, and Indonesia was among the first with a certified operator, backed by its Net5.5G roadmap.

In another high-profile segment, WBBA Director General Martin Creaner presented the Gigacity Certification to KOMDIGI, SURGE, Telkomsel, AIS, TRUE, HKT and Globe, recognizing regional broadband pioneers.

 

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SOURCE HUAWEI

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Laifen Expands U.S. Retail Footprint with Costco Launch of Best-Selling SE Hair Dryer

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Starting July 18, Costco Members Can Shop Laifen’s Award-Winning Hair Dryer in Select Warehouse Locations Across the U.S.

NEW YORK, July 18, 2026 /PRNewswire/ — Laifen, ranked the world’s No.1 high-speed hair dryer brand, today announced the launch of its best-selling SE High-Speed Hair Dryer at select Costco warehouse locations, marking the brand’s largest U.S. retail expansion to date and bringing its award-winning haircare technology to Costco members across select U.S. markets.

The launch brings Laifen’s award-winning haircare technology to Costco, making it easier for consumers to experience the brand through one of the nation’s leading membership retailers. Laifen joins Costco’s growing portfolio of premium beauty and personal care brands. The initial rollout includes select Costco warehouse locations across the United States, with a strong presence across the Western U.S., including California, the Pacific Northwest and the Southwest.

Costco’s reputation for quality and its highly selective merchandising approach make this partnership especially meaningful. The Costco launch reflects Laifen’s continued expansion beyond direct-to-consumer channels as the brand accelerates its U.S. omnichannel retail strategy. “Costco represents an important milestone in our U.S. retail strategy,” said Romeo, General Manager of International Business of Laifen. “As more consumers seek salon-quality performance at an accessible price, we’re excited to make Laifen available through one of America’s most trusted retailers.”

Engineered to deliver professional-level performance in a sleek, lightweight design, the Laifen SE is powered by the brand’s proprietary high-speed brushless motor, delivering fast drying, reduced heat damage and smoother styling. An intelligent temperature control system continuously monitors airflow to help minimize frizz while protecting hair from excessive heat.

The Costco launch represents the next phase of Laifen’s U.S. retail expansion as the brand continues to grow beyond its direct-to-consumer and online channels. By expanding into one of the nation’s most trusted retailers, Laifen aims to broaden access to its category-disrupting haircare solutions while advancing its mission to bring more thoughtful design and everyday excellence into more homes.

The Laifen SE High-Speed Hair Dryer in White will be available at select Costco locations, while Costco.com shoppers will have access to additional color options including Purple and Pink, alongside the White model.

For more information on Laifen, please visit LaifenTech.com.

About Laifen: 

Founded in 2019, Laifen is a global personal care technology brand combining high-performance engineering with modern design across hair care, oral care, and grooming categories. Ranked the world’s No. 1 high-speed hair dryer brand by Euromonitor International, Laifen first gained recognition for its self-developed 110,000 RPM high-speed brushless motor, the proprietary technology behind its award-winning hair dryers.

Building on this innovation, Laifen has expanded its portfolio to include electric toothbrushes and shavers, delivering premium technology and elevated everyday experiences to consumers worldwide. Today, Laifen products and accessories are used by over 22 million households across more than 60 countries, supported by more than 600 patents and recognized with over 50 international design and innovation awards. Driven by continuous technological breakthroughs, Laifen is committed to making cutting-edge personal care technology more accessible to consumers around the world.

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Pillsbury Notice of Data Breach

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NEW YORK, July 18, 2026 /PRNewswire/ — Pillsbury Winthrop Shaw Pittman LLP (“Pillsbury”) was among many law firms targeted by sophisticated social engineering attempts in an incident last year. While the firm quickly detected and blocked the activity, an unauthorized actor was able to access some of the firm’s documents during a short window of time. Pillsbury notified any impacted clients last year and undertook a detailed process to review the accessed documents for personal information. Pillsbury then began notifying individuals whose personal information was affected. That process is now complete, and today, Pillsbury is publishing substitute notice as a final step.

For more information, please visit the substitute notice on our website at https://www.pillsburylaw.com/en/breach-notice.html

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SOURCE Pillsbury Winthrop Shaw Pittman LLP

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