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DELRAY BEACH, Fla. , Nov. 8, 2024 /PRNewswire/ -- The global Generator Market is anticipated to grow from estimated USD 24.
11 billion in 2024 to USD 32.98 billion by 2030, at a CAGR of 5.4% during the forecast period.
The main driver of the generator market is the increasing demand for a steady power supply across the healthcare, telecommunication, and IT sectors. The rise in frequent power cuts, frail grid infrastructure, and increased urbanization have seen a growing demand for generators as a source of backup power. Scorching industrialization and massive infrastructure development, such as new buildings, roads, and airports, accelerate generator sales.
Renewable energy and hybrid generators are also becoming increasingly popular as cleaner and more efficient solutions..
