Cummins, Caterpillar and GE Vernova all linked 2026 power generation growth to data centers, and fuel cell maker Bloom Energy raised its 2026 revenue guidance to $4.4 to $4.6 billion.
Why this market is moving now
- Hyperscalers are locking in supply years ahead, as in Generac's Amazon deal with $2.4 billion of deliveries planned for 2027 and 2028.
- Engine makers report data centers as the main driver of power generation sales in 2026, in the United States, China and Asia Pacific.
- Gas turbine order books keep growing, with GE Vernova's backlog and slot reservations up from 116 GW to 122 GW in one quarter.
- On-site fuel cell power is growing fast, with Bloom Energy revenue up 138.1% year on year in the third quarter of 2026.
Key figures
Global figures for this market, with the year each one describes. Use Cite to copy a reference to this page.
| Figure | Value | Year | Cite |
|---|---|---|---|
| Generac's backlog for products to be sold to the data center market grew to about $4.5 billion by late October 2026. | 4.5 USD billion | 2026 | |
| Generac signed a long-term agreement to supply backup power generators for Amazon data centers, with initial deliveries expected to total $2.4 billion in 2027 and 2028. | 2.4 USD billion | 2026 | |
| Generac's commercial and industrial segment sales rose about 28% to $553.0 million in the third quarter of 2026, driven mainly by products sold into the global data center market. | 553.0 USD million | 2026 | |
| Cummins Power Systems sales rose 15% to $2.3 billion in the third quarter of 2026, driven mainly by power generation demand from data centers in the United States, China and Asia Pacific. | 2.3 USD billion | 2026 | |
| Caterpillar's Power and Energy segment sales rose 18% to $8.784 billion in the third quarter of 2026, with power generation growth mainly in turbines and large engines for data centers. | 8.784 USD billion | 2026 | |
| Bloom Energy, which sells on-site fuel cell power, reported record revenue of $1,235.8 million in the third quarter of 2026, up 138.1% year on year. | 1,235.8 USD million | 2026 | |
| Bloom Energy raised its 2026 revenue guidance to $4.4 billion to $4.6 billion, which would be 122% growth at the midpoint. | 4.4 USD billion (low end of guidance) | 2026 | |
| GE Vernova's gas power equipment backlog and slot reservations grew from 116 GW to 122 GW in the third quarter of 2026, and it expects at least 130 GW by the end of 2026. | 122 GW | 2026 | |
| Vertiv, a supplier of power and cooling equipment for data centers, reported third-quarter 2026 net sales of $4,313 million, up 61% year on year, with organic orders more than doubling. | 4,313 USD million | 2026 | |
| Vertiv expects full-year 2026 net sales of $14,650 million at the midpoint of its guidance, 38% organic growth on 2025. | 14,650 USD million | 2026 |
Calculated figures (shares, changes and prices per kilogram) are plain arithmetic on the reported values. Read how we work.
Companies to watch
Generac
Backup generator maker with about $4.5 billion of data center backlog in October 2026.
Cummins
Engine and generator maker; Power Systems sales rose 15% to $2.3 billion in the third quarter of 2026 on data center demand.
Caterpillar
Sells large reciprocating engines and turbines; Power and Energy sales were $8.784 billion in the third quarter of 2026.
Bloom Energy
On-site fuel cell supplier guiding to $4.4 billion to $4.6 billion of revenue in 2026.
GE Vernova
Gas turbine maker with 122 GW of gas power backlog and slot reservations.
Vertiv
Data center power and cooling supplier with third-quarter 2026 net sales of $4,313 million.
What the full report covers
- 01Executive summary
The answer in one page: size, direction and what moves it - 02Market definition and scope
What is in and out of the global market - 03Global market size, 2021 to 2025
Historical series and growth rates - 04Countries and regions
Demand, supply and trade by country and region - 05Outlook to 2031
Base, low and high scenarios with stated assumptions - 06Rules, policy and deadlines
Regulation and programmes that change demand - 07Drivers and barriers
What accelerates or slows adoption, by customer segment - 08Prices, costs and margins
Unit economics where public data allows - 09Competitive landscape
8 to 12 company profiles with recent moves - 10Opportunities and risks
For new entrants, suppliers and investors - 11Method and assumptions
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Frequently asked questions
How big is the data center backup power market?
There is no official world total. Supplier data show the scale: Generac alone had about $4.5 billion of data center backlog in October 2026, and Vertiv expects $14,650 million of net sales in 2026.
Who are the largest data center backup power suppliers?
Generac, Cummins and Caterpillar supply generators and engines. Cummins Power Systems sales were $2.3 billion and Caterpillar Power and Energy sales were $8.784 billion in the third quarter of 2026.
Are data centers using gas turbines and fuel cells for power?
Yes. GE Vernova's gas power backlog and slot reservations reached 122 GW, and Bloom Energy's fuel cell revenue rose 138.1% to $1,235.8 million in the third quarter of 2026.
How fast is demand for data center power equipment growing?
Vertiv's net sales rose 61% in the third quarter of 2026, Generac's commercial and industrial sales rose 28%, and Caterpillar's Power and Energy sales rose 18%.
Which hyperscalers are signing backup power deals?
Generac signed a long-term agreement to supply backup generators for Amazon data centers, with initial deliveries of $2.4 billion in 2027 and 2028.
What is the outlook for 2026?
Bloom Energy guides to $4.4 billion to $4.6 billion of revenue in 2026, and Vertiv expects net sales of $14,650 million, 38% organic growth.
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