Market Size of Portugal Gas Generator Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 3.80 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Portugal Gas Generator Market Analysis
The Portuguese gas generator market is expected to register a CAGR of over 3.8% during the forecast period. The COVID-19 pandemic had a negative impact on the global gas generator market due to the reduction in power demand, mainly from institutional customers (industrial and commercial sector), as many manufacturing plants and retail businesses were closed during the lockdown. But the market recovered after the COVID-19 situation got diluted, as the power demand escalated again.
- Over the medium term, the market studied is anticipated to grow due to various factors, such as increased awareness of natural gas as a clean, reliable fuel, an increased concern over diesel maintenance and refueling issues, a decrease in natural gas fuel prices, and a desire to be more environmentally conscious.
- On the other hand, the high capital cost of natural gas generators compared to diesel generators, coupled with the limited supply of natural gas, is expected to limit the business' growth.
- The technological developments taking place in the gas gensets industry create ample opportunities for the market. For example, in 2021, Caterpillar, one of the leading industry players, launched a new gas-based genset that can run on 100% hydrogen. The all-new CATG3516H hydrogen-based generator was launched in the European and North American markets.
Portugal Gas Generator Industry Segmentation
Gas-based generators are alternative or backup power supply sources that run on gases such as natural gas, hydrogen, etc.
The Portuguese Gas Generator Market is segmented by Capacity Rating (Less than 75 kVA, 75-375 kVA, and Above 375 kVA) and End-user (Industrial, Commercial, and Residential). The report offers the market size and forecasts in USD billion for all the above segments.
| By Capacity Rating | |
| Less than 75 kVA | |
| 75-375 kVA | |
| Above 375 kVA |
| By End-user | |
| Industrial | |
| Commercial | |
| Residential |
Portugal Gas Generator Market Size Summary
The Portuguese gas generator market is poised for growth, driven by increasing awareness of natural gas as a cleaner and more reliable fuel source. The market experienced a downturn during the COVID-19 pandemic due to reduced power demand from industrial and commercial sectors, but has since rebounded as demand surged. Factors such as technological advancements in gas gensets, like Caterpillar's hydrogen-based generator, and the country's urbanization efforts, which include the proliferation of data centers and smart city initiatives, are expected to bolster market expansion. However, challenges such as the high capital cost of natural gas generators compared to diesel alternatives and limited natural gas supply may impede growth.
Government policies in Portugal aimed at achieving carbon neutrality are further propelling the gas generator market. Initiatives like tax incentives for low-carbon electricity generation and ambitious climate policies are encouraging the adoption of eco-friendly gas generators. The European Union's stringent climate regulations also support this trend by promoting cleaner energy sources to reduce greenhouse gas emissions. The market is moderately consolidated, with key players like Mitsubishi Heavy Industries, Cummins Inc., and Grupel SA actively participating in its development. These dynamics, coupled with the increasing demand for reliable power supply in urban and industrial settings, are expected to drive the market forward during the forecast period.
Portugal Gas Generator Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size And Demand Forecast In USD Billion, Till 2027
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1.3 Recent Trends And Developments
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1.4 Government Policies And Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 Industry Attractiveness - Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitute Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Capacity Rating
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2.1.1 Less than 75 kVA
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2.1.2 75-375 kVA
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2.1.3 Above 375 kVA
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2.2 By End-user
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2.2.1 Industrial
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2.2.2 Commercial
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2.2.3 Residential
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Portugal Gas Generator Market Size FAQs
What is the current Portugal Gas Generator Market size?
The Portugal Gas Generator Market is projected to register a CAGR of greater than 3.80% during the forecast period (2024-2029)
Who are the key players in Portugal Gas Generator Market?
Mitsubishi Heavy Industries Ltd, Cummins Inc., General Electric Company, Grupel SA and Himoinsa sl are the major companies operating in the Portugal Gas Generator Market.
