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ENERGY & POWER

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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Extensive insights into the Growth of Europe Genset Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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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.

Competitive Landscape

Some of the affluent industry leaders in the Europe genset market are Cummins Inc., AKSA POWER GENERATION (KAZANCI HOLDING), Caterpillar, Briggs & Stratton, LLC, PR INDUSTRIAL srl (Generac Power Systems, Inc.), Mitsubishi Heavy Industries Ltd., Kohler Co., and Doosan Portable Power.

FREQUENTLY ASKED QUESTIONS

Europe Genset Market

 

  1. Introduction
    1. Market Definition
    2. Market Segmentation
    3. Product Overview
  2. Assumptions and Acronyms
  3. Research Methodology
    1. Research Process
      1. Primary Research
      2. Secondary Research
    2. Market Size Estimation
  4. Executive Summary- Europe Genset Market
  5. Regulatory Landscape
  6. Industry Value Chain Analysis
    1. Raw Material Procurement
    2. Manufacturing
    3. Distribution
    4. End-User Outlook
    5. List of Key Players Across the Value Chain
  7. Porter’s Five Forces Analysis
  8. Pestel Analysis
  9. Market Dynamics
    1. Drivers
    2. Restraints
    3. Trends
      1. Trend Impact Analysis, 2018-2024
    4. Opportunities
  10. Impact of Covid-19 on Europe Genset Market
  11. Growth Opportunity Analysis
  12. Investment Outlook
    1. R&D Outlook
    2. End-User Based Investments
  13. End-User Analysis
    1. End-User Buying Behavior & Pattern Outlook
    2. Analysis on the End-User Profile
  14. Leading Genset Rental Players
  15. Leading Hybrid Genset Players
  16. Assessment of Key OEM Players
  17. Competitive Structure
    1. Competitive Benchmarking of Key Players
    2. Market Share, By Key Players
    3. Product Portfolio Comparative Analysis
    4. Company Profiles
      1. Cummins, Inc
      2. AKSA POWER GENERATION (KAZANCI HOLDING)
      3. Caterpillar
      4. Briggs & Stratton, LLC
      5. PR INDUSTRIAL srl (Generac Power Systems, Inc.)
      6. Mitsubishi Heavy Industries, Ltd.
      7. Kohler Co.
      8. Doosan Portable Power
  18. Europe Genset Market Outlook
    1. Market Size and Forecast, 2019-2028
      1. By Value (USD Million)
      2. By Volume (Units)
    2. Market Overview
    3. Market Segmentation
      1. By Power Rating
        1. Up To 100 KVA, 100-350 KVA, 350-750 KVA, 750-1,000 KVA, 1,000-2,000 KVA, 2,000-3,000 KVA, Above 3,000 KVA,2019-2028f (USD Million)
      2. By Genset-Type
        1. Diesel, Natural Gas, Others, 2019-2028f (USD Million)
      3. By Application
        1. Standby Backup Power, Prime/Continuous Power, Peak Shaving Power, 2019-2028f (USD Million) (Units)
      4. By End-User
        1. Residential, Commercial (Offices, Hotels & Restaurants, Others), Industrial (Construction, Mining, Others), Healthcare Facilities, Others,2019-2028f (USD Million)
      5. By Country
        1. UK, Germany, France, Italy, Spain, Netherlands, Belgium, Denmark, Norway, Russia, Rest of Europe,2019-2028f (USD Million) (Units)
          1. UK Genset Market Outlook
            1. Market Overview
            2. Market Size, By Value & Volume
            3. Assessment of Macroeconomic Indicators
            4. Impact of Covid-19 on the UK Genset Market
            5. Competitive Structure
            6. UK Genset Rental Market Size & Hybrid Genset Market Size
            7. Assessment of Key Traders
            8. Pricing Analysis (USD/Unit)
            9. Market Segmentation
              1. By Power Rating
                1. Up To 100 KVA, 100-350 KVA, 350-750 KVA, 750-1,000 KVA, 1,000-2,000 KVA, 2,000-3,000 KVA, Above 3,000 KVA,2019-2028f (USD Million)
              2. By Genset-Type
                1. Diesel, Natural Gas, Others, 2019-2028f (USD Million)
              3. By Application
                1. Standby Backup Power, Prime/Continuous Power, Peak Shaving Power, 2019-2028f (USD Million) (Units)
              4. By End-User
                1. Residential, Commercial (Offices, Hotels & Restaurants, Others), Industrial (Construction, Mining, Others), Healthcare Facilities, Others,2019-2028f (USD Million)
              5. Cross Analysis of End-User W.R.T. Genset-Type, 2019 (USD Million)
          2. Germany Genset Market Outlook
          3. France Genset Market Outlook
          4. Italy Genset Market Outlook
          5. Spain Genset Market Outlook
          6. Netherlands Genset Market Outlook
          7. Belgium Genset Market Outlook
          8. Denmark Genset Market Outlook
          9. Norway Genset Market Outlook
          10. Russia Genset Market Outlook
          11. Rest of Europe Genset Market Outlook
  19. Analyst’s Review

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