Europe Generator Sets Market size is anticipated to witness significant growth between 2020 and 2030 owing to booming construction sector coupled with increasing demand for consistent electricity supply. Surging demand for reliable & sustainable grid infrastructure along with rapid population growth will complement the market landscape. Rising occurrence of power outages and weather unpredictability driven by natural calamities coupled with increasing consumer significance toward power backup solutions will complement the market growth.
Europe Market, By Power Rating
75-375 kVA rated generator sets will grow substantially during the forecast period owing to flourishing real estate sector and growing urbanization rate majorly across the developing nations. The ability of these units to effectively serve the consumer’s power requirements across industrial applications, specifically in mining sector and construction establishments will enhance the market demand. Burgeoning expansion of commercial spaces including airport will energize the industry dynamic.
Europe Market, By Fuel
Gas fueled generator sets market will gain appreciable momentum through 2030 on account of shifting focus toward environmentally friendly energy solutions and emergency power supply security. Furthermore, stringent regulatory norms aiming toward limiting carbon emissions coupled with adoption of green fuel will accelerate the market expansion. Robust expansion of LNG infrastructure driven by increased deployment of large O&G exploration projects will foster the industry landscape.
Europe Market, By End-Use
Commercial generator sets market will observe lucrative demand till 2030 led by rapid digitalization and growth of IT sector and advancements in technology. In addition, Burgeoning expansion in the telecom sector coupled with the development of data centers will fuel the market revenue. High flexibility, consistent power supply, and considerable material proficiency are the key features which will drive the product demand.
Europe Market, By Application
Standby generator sets will dominate the market share in the coming years due to emerging trends across real estate sector and robust expansion of commercial and residential establishments. Increasing applicability of these units across several industries including healthcare, mining & construction sector will augment the market landscape. Unreliable grid infrastructure coupled with rapid population growth will sway the industry scenario.
Europe Market, By Country
Spain generator sets market is predicted to see robust development from 2021 to 2030 owing to expansion of data center industry along with rapid commercial and infrastructural development which will stimulate the product deployment. Growing significance of emergency preparedness and damaged electrical infrastructure & power outages will further escalate the demand for these units. Increasing disposable income among individuals together with ongoing technological advancements are paramount factors enhancing the product adoption.
The current economic scenario on account of the COVID-19 pandemic has resulted in declining cashflow for industry participants across the board, although in the long run, the market is projected to inflate at a significant pace. Sudden outspread of coronavirus resulted in rapid increase for construction of healthcare establishments, fueling the product deployment.
Competitive Industry Landscape
Key manufacturers functioning across the Europe generator sets market are Cummins, Siemens, Briggs & Stratton, SDMO Industries, Atlas Copco, Caterpillar, Wärtsilä, Generac Power Systems, HIMOINSA, Deere & Company, J C Bamford Excavators and Yamaha. Major players are aiming toward forming strategic partnerships, joint ventures, and M&A by which they are embracing to strengthen their competitive advantage.