Europe Generator Sets Market to reach USD 5 bn by 2024
According to the Graphical Research new growth forecast report titled "Europe Generator Sets Market analysis based on Current, Fuel, Power Rating, Application, End-Use, Industry Analysis Report, Regional Outlook, Price Trend, Competitive Market Share & Forecast, 2018 – 2024", estimated to exceed USD 5 billion by 2024.
Europe Generator Sets Market size is predicted to exceed USD 5 billion by 2024. Rising demand for uninterrupted & reliable power supply in response to the inadequate grid infrastructure will drive the Europe gensets market growth. The ability of these gensets to efficiently backup crucial operations during power fluctuations or unexpected blackouts constitutes the key factor which will strengthen the product’s adoption.
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Increasing digitization accompanied by sizeable expansion of the data center infrastructure will propel the Europe generator sets market growth. The booming regional data center industry, primarily led by Germany, the Netherlands, France, and the UK are supporting the widespread deployment of generator sets as requisite backup power equipment. These units are majorly installed across financial services and IT firms, hospitals and other commercial spaces.
Germany gensets market, in 2017 was valued over USD 600 million. Growing investments by industry giants toward the expansion of their cloud footprint is set to stimulate the industry expansion. For instance, Microsoft, in March 2018, announced the extension of its data centers infrastructure in Germany with the opening of two new facilities, which in turn will create cyclical demand for gensets.
Europe gas fired gensets market is set to witness robust growth on account of stringent legislative requirements aimed at reducing GHG emissions and supporting the adoption of energy efficient equipment. In addition, the expansion of gas pipeline infrastructure across the region, coupled with increased competitiveness of fuel prices will support the industry outlook. As per the European Commission (EC), the EU, in 2016 funded the construction of a gas pipeline (Balticconnector) between Finland and Estonia with an investment of over USD 200 million.
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Rising infrastructure and commercial investments, predominantly across the Eastern Europe will drive the Europe gensets market size. The industry growth is largely driven by gradual upturn in overall investment volumes in 2017 on account of improving macro-economic outlook and real estate expansion. Moreover, growing demand for retail, logistics and office properties in addition to expansion of senior nursing and housing establishments will accelerate the deployment of gensets in the region.
Europe AC generator sets market size is set to expand over 6% by 2024. AC gensets are majorly deployed across residential spaces subject to their low maintenance requirements and operational viability for small power ranges. Affordable price, operational durability, quick start-up, and reliability are some of the key features strengthening the product demand.
Notable industry players operating in the Europe gensets market include Kohler, Cummins, Generac, Caterpillar, Honda, Escorts, Yamaha, John Deere, Atlas Copco, Caterpillar among others.
Segments We Cover:
Europe Generator Sets Market Growth, By Current
- DC, AC
Europe Generator Sets Market Statistics, By Fuel
- Gasoline, Diesel, Gas
Europe Generator Sets Market Trends, By Power Rating
- 1000 kVA
Europe Generator Sets Market Share, By Application
- Backup, Prime Power
Europe Generator Sets Market Analysis, By End Use
- Residential, Commercial, Industrial
The above information is provided on a country basis for the following:
- Russia, UK, Germany, France, Spain, Austria, Italy
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