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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..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

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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SOURCE Technavio

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Victory Live Named Official Data and Analytics Provider of the Capital One Orange Bowl

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Partnership provides ticketing technology and analytics support ahead of the 2027 College Football Playoff Semifinal

ATLANTA, Oct. 19, 2026 /PRNewswire/ — Victory Live, a leader in ticketing technology and analytics, today announced a partnership with the Orange Bowl to serve as the Official Data and Analytics Provider of the Capital One Orange Bowl.

Under the agreement, Victory Live will provide ticketing data and analytics tools to support the Orange Bowl’s operational planning and ticketing strategies.

The Capital One Orange Bowl is scheduled to host a College Football Playoff Semifinal on Thursday, Jan. 14, 2027, at Hard Rock Stadium.

“The Orange Bowl has a proud history in college football and a lasting impact on South Florida,” said Sam Soni, founder and CEO of Victory Live. “We look forward to supporting the organization with technology and data insights to assist their ticketing operations. With a College Football Playoff Semifinal ahead, this is an exciting opportunity to work together on an event that means so much to fans and the community.”

About Victory Live

Founded in 2021 by Sam Soni, Victory Live is a technology platform specializing in sports and entertainment event management, ticketing software, data insights, and multi-channel distribution. Its end-to-end solution, Victory Live One, helps manage millions of tickets for live event rightsholders and ticket sellers across sports, concerts, and theatre. Victory Live’s marketplace is the industry leader in B2B ticket distribution and connectivity solutions. Learn more at www.victorylive.com. 

Press Contact:

Eric Nemeth
nemeth@ericpr.com
www.victorylive.com/

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SOURCE Victory Live

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Eastern Michigan University offers $4,000 scholarships to students who join marching band

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YPSILANTI, Mich., Oct. 19, 2026 /PRNewswire/ — Eastern Michigan University is offering eligible students a $4,000 scholarship to join the university’s Marching Band, giving students the opportunity to participate in one of EMU’s signature traditions while pursuing any academic major.

The scholarship provides $1,000 per year for four years and is available to all students who meet the marching band requirements. Students do not need to major in music to qualify.

“I’m thrilled that President Kelly and the executive leadership team have elected to pursue this opportunity at Eastern because it gives us an opportunity to attract more students and reward them for the countless hours they spend participating in a life-changing activity that they love,” said J. Nick Smith, associate director of bands and director of Athletic Bands at Eastern.

EMU’s Marching Band reflects the university’s broad academic community. Only about 40% of its members are music majors, while students in disciplines across the university make up the rest of the membership.

“As a two-time alum, I’m proud of our band and its continuous momentum over the years,” said EMU President Brendan Kelly. “EMU’s college experience is about finding and building community — that’s what our marching band is all about. I’m thrilled we can offer this scholarship to students who want to be a part of a movement they’ll remember and be proud of among people with shared interests for the rest of their lives.”

Known as the “Pride of the Peninsula,” EMU’s Marching Band has a 132-year history and provides students with opportunities to perform at athletic events and other university and community events. The ensemble also offers diverse musical and performance experiences, including collaborations with groups such as internationally known piano-rock duo and EMU alumni Drew & Kin and Grammy Award-winning artists such as The Temptations, featuring EMU alum Jawan M. Jackson, who joined the group in 2022.

Participation in the band also provides students with experiences that extend beyond the field.

“Students who participate with us develop deep ties to their education, lifelong friends, lessons in leadership, professionalism, time management, high expectations and advanced musicianship and marching skills,” said Smith. “We pride ourselves on providing our students life-changing experiences that develop their core being so that, upon graduation, they have a diverse set of skills that are immediately applicable to their careers.”

Students interested in joining the EMU Marching Band and applying for the scholarship should:

Apply to and be admitted to Eastern Michigan University: emich.edu/apply/Complete the marching band membership form: https://tiny.emich.edu/emumbAttend orientation and register for marching band.Receive the scholarship through their financial aid package once all requirements are completed.

The scholarship is available to students regardless of their intended major. For more information about the EMU Marching Band and scholarship opportunities, visit the band webpage. To view the band’s past performances, visit the band’s YouTube page.

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SOURCE Eastern Michigan University

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Green Ammonia Market to Reach USD 5.10 Billion by 2035 as Renewable Hydrogen Contracts Support New Production

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LONDON, Oct. 19, 2026 /PRNewswire/ — The global green ammonia market was valued at USD 150.8 million in 2025 and is projected to reach USD 5.10 billion by 2035, according to Credence Research. The report states a 42.22% compound annual growth rate for 2025-2035. Asia Pacific held the largest regional share at 60.2% in 2025, while Latin America is the fastest-growing region at a modeled 54.11% annual rate. Market sizes, segment shares and regional allocations are Credence Research estimates.

Key Takeaways

Credence Research estimates market value at USD 150.8 million in 2025 and USD 5.10 billion by 2035, with a reported 42.22% CAGR for 2025-2035.Asia Pacific held 60.2% of modeled 2025 value. Latin America has the fastest forecast regional growth at 54.11%.Alkaline water electrolysis represented 73.6% of 2025 technology value.Fertilizers accounted for 68.3% of 2025 application revenue, the largest end use.Solid oxide electrolysis has the highest modeled technology growth at 63.37% annually, from a small base.Marine fuel is projected to grow fastest among applications, but its starting commercial base remains limited.

Scope & Segmentation – Green Ammonia Market

The market measures the selling value of ammonia made with electrolytic hydrogen powered by renewable electricity, including relevant renewable output from retrofitted fertilizer plants. It covers fertilizer, chemical feedstock, power and prospective marine fuel uses. It excludes conventional ammonia, blue ammonia made with fossil hydrogen and carbon capture, stand-alone electrolyzers, renewable generation equipment and downstream fertilizer products beyond the contained ammonia value.

By technology: Alkaline water electrolysis; Proton exchange membrane electrolysis; Solid oxide electrolysis.By application: Fertilizers; Industrial and chemical feedstock; Power generation; Marine fuel; Other uses including hydrogen carriers and refrigeration.

Read the full report and request a sample: https://www.credenceresearch.com/report/green-ammonia-market      

Why This Report Matters

Developers can separate announced electrolyzer capacity from renewable ammonia that has a committed buyer and a credible delivery schedule.Fertilizer companies and importers can evaluate the commercial importance of certification, fixed-price contracts and renewable electricity availability.Investors can assess why some projects advance with binding offtake while others remain exposed to cost gaps, policy changes and financing delays.

Market Overview

Green ammonia is produced using hydrogen generated from water electrolysis powered by renewable electricity, followed by conventional ammonia synthesis. It can serve fertilizer and chemical demand without changing the basic molecule, but production costs and emissions depend on the power supply and plant operation.

Early commercial output is concentrated in China and a small number of European plants. Indian supply contracts and international offtake agreements are expanding the project pipeline. Marine fuel is a longer-term opportunity, with demand dependent on vessel technology, bunkering infrastructure and shipping regulation.

Market Insights

Alkaline water electrolysis represented 73.6% of 2025 technology value.Fertilizers accounted for 68.3% of 2025 application revenue, the largest end use.Solid oxide electrolysis has the highest modeled technology growth at 63.37% annually, from a small base.Marine fuel is projected to grow fastest among applications, but its starting commercial base remains limited.Asia Pacific represented 60.2% of 2025 value, reflecting early Chinese plant output and demand.

Key Attributes

Attribute

Details

Historical reference

2018-2025 (source report)

Base year

2025

Market size, 2025

USD 150.8 million

Market size, 2026 (source estimate)

USD 415.2 million

Market size, 2035

USD 5.10 billion

Reported CAGR and measurement interval

42.22% (2025-2035)

Largest regional share

Asia Pacific (60.2%, 2025)

Fastest-growing region

Latin America (54.11%)

Segments covered

Technology, Application

Geographic coverage

North America, Europe, Asia Pacific, Latin America, Middle East and Africa

Market Segmentation

The segmentation below follows the current report taxonomy and separates products, applications and buyers to avoid overlapping revenue definitions.

By technology: Alkaline water electrolysis; Proton exchange membrane electrolysis; Solid oxide electrolysis.By application: Fertilizers; Industrial and chemical feedstock; Power generation; Marine fuel; Other uses including hydrogen carriers and refrigeration.

Market Drivers

Fertilizer producers can reduce reliance on fossil-based hydrogen by purchasing certified renewable ammonia or replacing a portion of their own feedstock. Long-term supply contracts can make the economics more predictable for producers and buyers.

Large renewable energy resources and improving electrolyzer supply support new plants in China, India and prospective export hubs. Project economics still depend heavily on utilization and electricity costs.

Cross-border contracts create a clearer financing route than nonbinding project announcements. Importers that require renewable fuel certification can anchor investments in production and shipping logistics.

Regional Analysis

The following regional shares represent Credence Research estimates of 2025 market value. They are not independently audited supplier sales totals.

Asia Pacific | 60.2% share in 2025

Operating Chinese plants and Indian fertilizer procurement programs underpin the largest base. Japan and South Korea are potential import markets for certified supply.

Europe | 26.7% share in 2025

Pioneer projects and stringent certification requirements support premium demand, while high energy costs encourage some buyers to seek imports.

Middle East and Africa | 8.0% share in 2025

Saudi Arabian and other coastal projects seek to pair renewable power with export infrastructure, but project schedules remain important.

North America | 3.3% share in 2025

Electrolytic ammonia remains a small share of supply, with some producers favoring carbon capture on conventional plants.

Latin America | 1.8% share in 2025

Chile and Brazil have strong renewable resources and potential fertilizer or export demand, producing the fastest modeled regional growth from a small base.

Market Challenges

Renewable ammonia generally costs more to produce than conventional ammonia. Intermittent wind and solar power complicate operation of the synthesis loop and can require storage or grid balancing.

Many proposed projects lack binding buyers, permitting or funding. Uncertain global shipping rules can delay marine-fuel demand, so developers often prioritize fertilizer and chemical customers first.

Future Outlook

The strongest near-term projects are likely to be those with verified renewable electricity, certification and binding offtake. China remains an early production center while India and Gulf projects could expand exports later in the decade.

Marine fuel demand may eventually diversify the customer base, but the timeline is uncertain. Investors should distinguish operating tonnage from proposed capacity and account for power variability, shipping costs and policy risk.

Competitive Landscape

Envision Energy, State Power Investment Corporation and China Energy Engineering are linked to operating Chinese renewable ammonia projects. AM Green, ACME Group and NEOM Green Hydrogen Company are export developers, while Yara and Iberdrola participate in European pioneer projects. Air Products is a NEOM co-owner and contracted offtaker, not simply an independent ammonia producer. Fortescue is excluded from the active producer list because it canceled selected hydrogen projects in 2025. No reliable comparable company-by-company green ammonia revenue ranking is available.

Key Players

Envision EnergyState Power Investment CorporationChina Energy EngineeringAM GreenACME GroupNEOM Green Hydrogen CompanyYara InternationalIberdrolaAir Products (offtaker and co-owner)

Recent Developments

Feb. 27, 2026: Envision announced a commercial shipment of green ammonia from its Chifeng facility in China to LOTTE Fine Chemical in South Korea. The company described the cargo as an end-to-end renewable ammonia delivery.

Jan. 12, 2026: Uniper and AM Green signed a binding long-term agreement for up to 500,000 metric tons a year of certified renewable ammonia from India, with initial deliveries expected from 2028.

Report Coverage

The study analyzes market size, the base-year product and application mix, regional demand, technology adoption, competitive positioning, constraints and dated industry developments. It also examines commercialization, customer economics and the factors that could change the pace of adoption through 2035.

Forecasts and regional shares are proprietary Credence Research model estimates. Company announcements and regulatory materials are used for industry context; they do not independently validate the modeled global revenue totals. The report’s market definition and exclusions should be considered when comparing it with broader adjacent industries.

Read the full report and request a sample: https://www.credenceresearch.com/report/green-ammonia-market

Related Reports

Green Hydrogen MarketBlue Ammonia MarketRenewable Methanol MarketSustainable Aviation Fuel MarketHydrogen Storage Market

About Us

Credence Research Inc. is a global market intelligence and consulting firm founded in 2015. It provides quantitative market research, competitive intelligence and strategic advisory services to organizations assessing new products, investment decisions and regional opportunities. The firm combines primary and secondary research with industry interviews and structured market models.

Its research spans industrial technology, semiconductors, energy, health care, consumer markets and other sectors. Credence Research evaluates market size, segmentation, growth drivers, supply-chain risks, regional policy and competitive positioning to help clients make evidence-led decisions.

Contact Us

Credence Research Inc.
Tower C-1105, S 25, Akash Tower
Vishal Nagar, Pimple Nilakh, Haveli
Pune – 411027, India
Europe: +44 7453 598 606 | North America: +1 6282 627 656
Email: sales@credenceresearch.com

Website: Credence Research

 

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