Europe Genset Market

Europe Genset Market Segmentation by Genset-Type (Diesel, Natural Gas, and Others); by Application (Standby Backup Power, Prime/Continuous Power, and Peak Shaving Power); by Power Rating (Up to 100 kVA, 100-300 kVA, 350-750 kVA, 750-1000 kVA, 1000-2000 kVA, 2000-3000 kVA, and Above 3000 kVA); and by End-User (Residential, Commercial, Industrial, Healthcare Facilities and Others) – Demand Analysis & Opportunity Outlook 2019-2028

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Report ID: 2858 | Published On: Feb 01, 2022
  1. Introduction
    • Market Definition
    • Market Segmentation
    • Product Overview
  2. Assumptions and Acronyms
  3. Research Methodology
  4. Research Process
    • Primary Research
    • Manufacturers
    • Distributors
    • End Users
    • Secondary Research
    • Market Size Estimation
  5. Executive Summary - Global Advanced Therapy Medicinal Products Market
  6. Analysis of Market Dynamics
  7. Drivers
  8. Trends
  9. Key Market Opportunities for Business Growth
  10. Major Roadblocks for the Market Growth
  11. Regulatory & Standard Landscape
  12. Value Chain Analysis
  13. Potential ATMP Treatment Analysis
  14. Pricing Analysis of Global Advanced Therapy Medicinal Products Market
  15. Use Case Analysis
  16. Pipeline Analysis
  17. Analysis on the Manufacturing Process
  18. Analysis of COVID-19 Impact on the Global Advanced Therapy Medicinal Products Market
  19. Analysis of End-User Market Share of Global Advanced Therapy Medicinal Products
  20. Competitive Positioning
  21. Competitive Landscape
  22. Market Share Analysis of Major Players (%), 2021
  23. Competitive Benchmarking
  24. Novartis AG.
  25. Takeda Pharmaceutical Company Limited
  26. Gilead Sciences, Inc.
  27. Bluebird Bio, Inc
  28. BioMarin Pharmaceutical Inc
  29. Vericel Corporation
  30. Mallinckrodt Pharmaceuticals
  31. UniQure N.V.
  32. JCR Pharmaceuticals Co., Ltd.
  33. Spark Therapeutics, Inc. (Parent Company: Roche)
  34. Kolon TissueGene, Inc.
  35. Global Advanced Therapy Medicinal Products Market Outlook
  36. By Value (USD million)
  37. By Product
  38. CAR-T Therapy, 2021-2031F (USD million)
  39. Gene Therapy, 2021-2031F (USD million)
  40. Cell Therapy, 2021-2031F (USD million)
  41. Tissue Engineered Product, 2021-2031F (USD million)
  42. By Disease
  43. Oncology, 2021-2031F (USD million)
  44. Genetic Disorders, 2021-2031F (USD million)
  45. CNS, 2021-2031F (USD million)
  46. Dermatology, 2021-2031F (USD million)
  47. Others, 2021-2031F (USD million)
  48. By End-User
  49. Hospitals & Clinics, 2021-2031F (USD million)
  50. Research & Academic Institutes, 2021-2031F (USD million)
  51. Global Advanced Therapy Medicinal Products Market by Region
  52. North America, 2021-2031F (USD million)
  53. Europe, 2021-2031F (USD million)
  54. Asia-Pacific, 2021-2031F (USD million)
  55. Latin America, 2021-2031F (USD million)
  56. Middle East & Africa, 2021-2031F (USD million)
  57. North America Advanced Therapy Medicinal Products Market Outlook
  58. By Value (USD million)
  59. By Product
  60. CAR-T Therapy, 2021-2031F (USD million
  61. Gene Therapy, 2021-2031F (USD million)
  62. Cell Therapy, 2021-2031F (USD million)
  63. Tissue Engineered Product, 2021-2031F (USD million)
  64. By Disease
  65. Oncology, 2021-2031F (USD million)
  66. Genetic Disorders, 2021-2031F (USD million)
  67. CNS, 2021-2031F (USD million)
  68. Dermatology, 2021-2031F (USD million)
  69. Others, 2021-2031F (USD million)
  70. By End-User
  71. Hospitals & Clinics, 2021-2031F (USD million)
  72. Research & Academic Institutes, 2021-2031F (USD million)
  73. By Country
  74. US, 2021-2031F (USD million)
  75. Canada, 2021-2031F (USD million)
  76. Europe Advanced Therapy Medicinal Products Market Outlook
  77. By Product
  78. By Disease
  79. By End User
  80. By Country
  81. UK, 2021-2031F (USD Million)
  82. Germany, 2021-2031F (USD Million)
  83. France, 2021-2031F (USD Million)
  84. Italy, 2021-2031F (USD Million)
  85. Spain, 2021-2031F (USD Million)
  86. Russia, 2021-2031F (USD Million)
  87. Netherlands, 2021-2031F (USD Million)
  88. Rest of Europe, 2021-2031F (USD Million)
  89. Asia Pacific Advanced Therapy Medicinal Products Market Outlook
  90. By Product
  91. By Disease
  92. By End User
  93. By Country
  94. China, 2021-2031F (USD Million)
  95. India, 2021-2031F (USD Million)
  96. Japan, 2021-2031F (USD Million)
  97. South Korea, 2021-2031F (USD Million)
  98. Singapore, 2021-2031F (USD Million)
  99. Australia, 2021-2031F (USD Million)
  100. Rest of Asia-Pacific, 2021-2031F (USD Million)
  101. Latin America Advanced Therapy Medicinal Products Market Outlook
  102. By Product
  103. By Disease
  104. By End User
  105. By Country
  106. Brazil, 2021-2031F (USD Million)
  107. Argentina, 2021-2031F (USD Million)
  108. Mexico, 2021-2031F (USD Million)
  109. Rest of Latin America, 2021-2031F (USD Million)
  110. Middle East & Africa Advanced Therapy Medicinal Products Market Outlook
  111. By Product
  112. By Disease
  113. By End User
  114. By Country
  115. GCC, 2021-2031F (USD Million)
  116. Israel, 2021-2031F (USD Million)
  117. South Africa, 2021-2031F (USD Million)
  118. Rest of Middle East & Africa, 2021-2031F (USD Million)

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • February 12, 2020: Cummins Inc. announced that it would unveil three new models, viz., 9kW, 11.5kW, and 13.5kW of ignition-protected marine gensets that are designed for use in both gasoline-powered and diesel-powered boats.
  • PR INDUSTRIAL srl (PRAMAC), announced the launch of its GGW series, i.e., GGW625G and GGW750G natural gas-fueled industrial power generators that are powered by Generac engines. These generator sets are known to produce up to 20% less CO2 than a conventional diesel generator set.

Market Overview and Growth Highlights 2019-2028

A genset or generator set is a combination of an engine and an alternator. The engine typically converts the chemical energy gathered from the fuel to the mechanical energy, which is then used to spin the alternator rotor. The spinning alternator rotor converts mechanical energy into electrical energy. The European genset market is thriving on account of the growing popularity of hybrid genset systems, along with the continuous product development and the increasing investments for research & development by the key manufacturers. Moreover, recent trends pertaining to the adoption of zero or low-emission gensets in the region are also anticipated to contribute to the market growth. Hybrid gensets possess several benefits over conventional gensets, such as it uses renewable energy sources, generates lower fuel bills and lesser noise pollution, and also can be controlled by a digital system controller. These gensets can be used along with multiple renewable energy sources, such as solar, tidal, wind, and biomass amongst others. The genset market in Europe is also anticipated to grow on account of the rapid industrialization, along with the growing commercial sector, which is raising the need for backup power systems, and therefore the need for the deployment of gensets in these sectors. Moreover, increasing investments aimed towards the expansion of the telecom infrastructure in the region is also projected to contribute to the market growth.

The Europe genset market is projected to touch USD 4211.7 million by the end of 2028. The market is further anticipated to grow with a CAGR of 3.7% during the forecast period, i.e., 2021-2028. Additionally, the market is expected to reach USD 3262.9 million by the end of 2021 despite the severe impact of COVID-19 on the genset industry in Europe.


Market Segmentation Synopsis

The Europe genset market is segmented by genset-type into diesel generators, natural gas generators, and others. Among these segments, the diesel genset segment registered the largest market share of 61.68% in the year 2019 owing to the rapidly increasing demand for diesel gensets from the data centers present in the country, coupled with the high efficiency and low-maintenance cost of diesel generators as compared to other genset types.  The market is also segmented by application into standby backup power, prime/continuous power, and peak shaving power, out of which, the standby backup power generator segment is projected to grab the largest market share of 83.37% by the end of 2028. The growth of the segment can be attributed to the increasing application of standby backup generators in different end-use sectors, such as residential, commercial, and industrial among others. Moreover, increasing demand for generator sets for emergency purposes, as these generator sets are extremely useful wherein access to power is critical, along with the need for generator sets that can run for a longer period in the absence of grid power, are some of the factors anticipated to drive the growth of the segment during the forecast period. CLICK TO DOWNLOAD SAMPLE REPORT

Europe-Genset-Market

The Europe genset market is further segmented by power rating into up to 100 kVA, 100-300 kVA, 350-750 kVA, 750-1000 kVA, 1000-2000 kVA, 2000-3000 kVA, and above 3000 kVA, out of which, the up to 100 kVA segment registered the largest share in the year 2019. The segment is further expected to reach a value of USD 839.7 million by the end of 2021. The growth of the segment can be attributed to the rapidly increasing residential construction activities in a few countries in Europe which is raising the need for the deployment of up to 100kVA gensets. Decent size family apartments and commercial spaces such as offices and restaurants can be powered using a genset of power rating up to 100kVA. These gensets can easily take a load of lights, fans, refrigerators, air conditioners, and other residential electronic equipment.

The Europe genset market is also segmented by end-user into residential, commercial, industrial, healthcare facilities, and others. The commercial segment is projected to grow with the highest CAGR of 4.0% during the forecast period. The gensets used in the commercial sector can operate on different types of fuels including diesel, natural gas, kerosene, and propane. Some of the most commercial applications of gensets in the commercial sector include hotels & restaurants, offices, data centers, and others. The commercial segment is further divided into offices, hotels & restaurants and others. Among these segments, the offices segment is projected to grab the largest market share by the end of 2021.


Market Drivers & Challenges

Growth Indicators

Rapidly Increasing Demand for Uninterrupted Power Supply from End-Use Industries to Drive the Market Growth

The growing demand for reliable and uninterrupted power supply from end-use sectors, such as construction, residential, commercial, and healthcare among others is raising the need for the deployment of gensets in these sectors. Moreover, on account of the rapid industrialization, backed by the growing population in the region, there is a rising need for electricity, which in turn is raising the need for the adoption of uninterrupted power systems, such as gensets. Additionally, rising concern for the power outages in few countries in Europe is also raising the need for the deployment of gensets. Such factors are anticipated to drive the growth of the Europe genset market.

Barriers

Stringent Government Regulations for Limiting Carbon Emissions to Hamper the Market Growth

The European Environmental Agency has set several stringent regulations in the European Union to regulate the amount of carbon emitted into the atmosphere by the generator sets. As a result, genset manufacturers are required to possess a type approval certification for each generator being manufactured by them. Moreover, rising consumer awareness for environmental pollution is also anticipated to impact the demand for non-renewable power backup systems, such as generator sets. Such factors are anticipated to hamper the market growth during the forecast period.

Impact of COVID-19 on Europe Genset Market

The supply chain for the production of gensets in Europe during the COVID-19 pandemic has witnessed a major disruption with the unavailability of labor, cash-flow issues, and restrictions on trade, hampered primarily due to the imposed lockdown regulations in several countries in the region. Imports of key components from other countries were severely hampered and logistical constraints further raised the complications for the procurement of key components to produce diesel, natural gas, and other forms of generator sets. The sales of gensets in the European region during the coronavirus pandemic also plunged down significantly, majorly impacted by the closure of offline sales channels.


Europe-Genset-Market
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Key Questions Answered in the Report

1) What are the major factors driving the growth of the europe genset market?

Ans: Rising need for uninterrupted power supply, backed by increasing industrialization and rapid urbanization, is one of the major factors driving the market growth.

2) What would be the CAGR of europe genset market over the forecast period?

Ans: The market is anticipated to grow with a with a CAGR of 3.7% during the forecast period, i.e., 2021-2028.

5) Who are the major players dominating the europe genset market?

Ans: The major players in the market are Cummins Inc., AKSA POWER GENERATION (KAZANCI HOLDING), Caterpillar, Briggs & Stratton, LLC, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from segments, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the Europe genset market?

Ans: The Europe genset market is segmented by genset-type, application, power rating, end-user, and by region.

8) Which segment captured the highest share in the Europe genset market in 2019?

Ans: The diesel genset segment, which is a sub-segment of the genset-type segment, held the largest market share of 61.68% in 2019 on account of the high efficiency and low-maintenance cost of diesel generators.

8) What are the restraining factors for the market growth?

Ans: Concerns for the stringent government regulations to regulate carbon emissions is one of the major factors estimated to act as barriers to the growth of the market.

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