Diesel Generator Market Forecast to 2031
Analysis based on 7 articles · First reported Apr 06, 2026 · Last updated Apr 14, 2026
The market forecast by MarketsandMarkets indicates a positive outlook for companies in the diesel generator sector, such as Caterpillar Inc., Cummins, Generac, Rolls-Royce Holdings, and Mitsubishi Heavy Industries. Increased demand for reliable power solutions due to grid outages and industrialization is expected to drive revenue growth for these entities. The Asia Pacific region is projected to be a significant growth driver, offering opportunities for market expansion.
MarketsandMarkets has released a report forecasting substantial growth in the global diesel generator market, projecting it to reach USD 25.61 billion by 2031 from USD 19.26 billion in 2026, with a compound annual growth rate (CAGR) of 5.9%. This growth is attributed to increasing demand for reliable backup and primary power solutions, driven by frequent grid outages, rapid industrialization, and infrastructure expansion globally. The industrial sector and standby power segment are expected to lead this growth. The Asia Pacific region, including countries like China, India, Japan, and South Korea, is anticipated to be the fastest-growing market. Key players identified in the market include Caterpillar Inc., Cummins, Generac, Rolls-Royce Holdings, and Mitsubishi Heavy Industries, all of whom are expected to benefit from this market expansion.
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