Europe Generator Sets Market Size (2024 - 2029)

The Europe generator sets market is anticipated to experience growth over the forecast period, driven by the increasing demand for reliable power supply and backup solutions during outages. Despite the challenge posed by the higher cost of electricity from generator sets compared to the utility grid, opportunities exist in the growing adoption of hybrid generators, which offer cost benefits and reduced fuel dependence. The United Kingdom is expected to be a key market, with significant demand originating from the industrial sector and the expansion of commercial office spaces and small-scale enterprises.

Home Market Analysis Energy & Power Research Power Equipment Research Generator Research Europe Generator Sets Market Market Size

Market Size of Europe Generator Sets Industry

Europe Generator Sets Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 1.00 %
Market Concentration Low

Major Players

Europe Generator Sets Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Generator Sets Market Analysis

The Europe generator sets market is estimated to be at USD 3.5 billion by the end of this year and is projected to reach USD 4.42 billion in the next five years, registering a CAGR of over 1% during the forecast period.

  • Over the medium period, factors such as demand for uninterrupted and reliable power supply, backup requirements during power outages, and the longer timeframe required to set up the transmission and distribution infrastructure are expected to drive the generator sets market.
  • On the other hand, the higher cost of electricity produced by the generator sets relative to the utility grid is expected to restrain the market.
  • Nevertheless, the rising popularity of hybrid generators and the rising reliability of the hybrid system may be an opportunity for the industry due to its usage of various resources, driving down the cost and reducing dependence on a single fuel.
  • The United Kingdom is expected to be a significant market in the forecast period, with most of the demand coming from the industrial sector and rise in commercial office spaces and small-scale enterprises.

Europe Generator Sets Industry Segmentation

An engine generator is a device that combines an electrical generator and an engine into a single piece of equipment. This combination is also known as an engine-generator set (gen-set). The machine is often taken for granted, and the combined device is called a generator. 

The Europe generator sets market is segmented by fuel, ratings, end user, and geography. By fuel, the market is segmented into diesel, gas, and others. By ratings, the market is segmented into below 75 kVA, 75-350 kVA, and above 350 kVA. By end-user, the market is segmented into residential, commercial, and industrial. The report also covers the market size and forecasts for the Europe generator sets market across major countries. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).

Fuel
Diesel
Gas
Others
Ratings
Below 75 kVA
75 - 350 kVA
Above 350 kVA
End-User
Residential
Commercial
Industrial
Geography
Germany
Russia
United Kingdom
Rest of Europe
Need A Different Region Or Segment?
Customize Now

Europe Generator Sets Market Size Summary

The Europe generator sets market is poised for growth, driven by the increasing demand for reliable and uninterrupted power supply, particularly in industrial sectors such as mining, manufacturing, agriculture, and construction. The market is expected to expand over the forecast period, with the United Kingdom emerging as a significant contributor due to its expanding infrastructure projects and commercial spaces. The industrial sector's reliance on generator sets during power outages and in areas with limited grid access underscores its dominant position in the market. Technological advancements, such as Caterpillar's new mobile solutions meeting EU Stage V emission criteria, are anticipated to further bolster market growth by enhancing the efficiency and environmental compliance of generator sets.

Despite the higher cost of electricity generated by these sets compared to the utility grid, the market is expected to benefit from the rising popularity of hybrid generators, which offer cost savings and reduced fuel dependence. The strengthening of gas pipeline infrastructure across Europe is likely to increase the adoption of gas generators, offering a cleaner alternative to diesel. The United Kingdom's market is expected to grow due to increased electricity demand, the expansion of data centers, and the agricultural sector's reliance on backup power systems. Key players in the fragmented market include Caterpillar Inc., Mitsubishi Heavy Industries Ltd., Cummins Inc., Yanmar Holdings Co. Ltd., and Atlas Copco AB, with ongoing innovations in generator technology supporting the market's expansion.

Explore More

Europe Generator Sets Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast, in USD Billion, till 2028

    3. 1.3 Electricity Production and Consumption and Forecast, in TWh, till 2028

    4. 1.4 Recent Trends and Developments

    5. 1.5 Government Policies and Regulations

    6. 1.6 Market Dynamics

      1. 1.6.1 Drivers

        1. 1.6.1.1 Demand for Uninterrupted and Reliable Power Supply

        2. 1.6.1.2 The Longer Timeframe Required to Set Up the Transmission and Distribution Infrastructure

      2. 1.6.2 Restraints

        1. 1.6.2.1 The Higher Cost of Electricity Produced By the Generator Sets

    7. 1.7 Supply Chain Analysis

    8. 1.8 Porter's Five Forces Analysis

      1. 1.8.1 Bargaining Power of Suppliers

      2. 1.8.2 Bargaining Power of Consumers

      3. 1.8.3 Threat of New Entrants

      4. 1.8.4 Threat of Substitutes Products and Services

      5. 1.8.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Fuel

      1. 2.1.1 Diesel

      2. 2.1.2 Gas

      3. 2.1.3 Others

    2. 2.2 Ratings

      1. 2.2.1 Below 75 kVA

      2. 2.2.2 75 - 350 kVA

      3. 2.2.3 Above 350 kVA

    3. 2.3 End-User

      1. 2.3.1 Residential

      2. 2.3.2 Commercial

      3. 2.3.3 Industrial

    4. 2.4 Geography

      1. 2.4.1 Germany

      2. 2.4.2 Russia

      3. 2.4.3 United Kingdom

      4. 2.4.4 Rest of Europe

Europe Generator Sets Market Size FAQs

The Europe Generator Sets Market is projected to register a CAGR of 1% during the forecast period (2024-2029)

Caterpillar Inc. , Mitsubishi Heavy Industries Ltd., Cummins Inc , Yanmar Holdings Co. Ltd. and Atlas Copco AB are the major companies operating in the Europe Generator Sets Market.

Europe Generator Sets Market Report Snapshots

Europe Generator Sets Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)