Europe Generator Sets Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Fuel (Diesel, Gas, and Others), Ratings (Below 75 kVA, 75-350 kVA, and Above 350 kVA), End User (Residential, Commercial, and Industrial), and Geography (Germany, Russia, United Kingdom, and Rest of Europe)

Market Snapshot

Europe Generator Sets Market - Summary
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 1 %

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Market Overview

The Europe generator sets market is expected to grow at a CAGR of more than 1% over the period of 2020-2025. 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. However, the higher cost of electricity produced by the generator sets relative to the utility grid is expected to act as a restraint to the market.

  • The industrial sector is estimated to be the largest segment of the market in the forecast period owing to the increasing demand for continuous and reliable power supply, reducing the risk of product failure and the rising size of the manufacturing segment.
  • The rising popularity of hybrid generators and 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 the majority of the demand coming from the industrial sector and rise in commercial office spaces and small-scale enterprises.

Scope of the Report

The Europe generator sets market report include:

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

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Key Market Trends

Industrial Sector to Dominate the Market

  • The industrial sector, which includes mining, manufacturing, agriculture, and construction, accounts for a large share of energy consumption of any end-use industry.
  • The industrial sector is estimated to account for the largest share of power generation in the diesel and gas generator market. Industrial operations are mainly dependent on electricity generated from generator sets during power outages (to avoid production risks) and in regions where grid access is limited.
  • In the European Union, the industrial capacity, such as the manufacturing capacity, has increased significantly by 7.52 % to USD 2.43 Trillion in 2018 from USD 2.259 Trillion in 2017. An increase in the manufacturing sector is expected to increase the requirement of backup generators.
  • Europe has been opting for gas as a substitute for coal and oil in the power generation sphere. The strengthening of the gas pipeline infrastructure and storage network across Europe is expected to increase the uptake of gas generators in prime power and backup power applications and dissuade the public and private enterprises from the usage of diesel as the primary backup fuel. Diversifying the fuel is expected to boost the Europe generator sets market.
  • Consumption of electricity in the European region increased, by 0.034%, from approximately 2050.0 million tons of oil equivalent (mtoe), in 2017 to nearly 2050.7 mtoe, in 2018. An increase in the rate of consumption is expected to maintain in the forecast period, thereby driving growth in the market.
  • Hence, the industrial segment is expected to dominate the Generator sets market in the forecast period due to its extensive usage of the product and the growing size of the sector.
Primary Energy Consumption

The United Kingdom to be a Significant Market

  • The United Kingdom is among the leading generator sets market in the Europe region. This is due to increasing infrastructure projects, expansion of manufacturing facilities across the nation, and rising commercial office spaces. The country benefits from the cost and effectiveness of generators sets, with improvement in the living standards increasing the demand for power backup devices segments.
  • United Kingdom’s agriculture sector is vast and covers more than 60% of the country’s total land area. Although the country’s power grid is increasingly becoming dependent on renewable sources, the agriculture industry still relies upon the use of the power back up system. Growth in the agriculture and related industries is expected to positively impact the market.
  • Data centers are responsible for between 1-3% of the country’s electricity usage in 2018. The amount of data centers in the United Kingdom is expected to increase in the forecast period, whose backup power generation may be provided by the generator sets and which may act as a driver for the market.
  • Consumption of electricity in the United Kingdom decreased, by 0.54%, from approximately 152.7 million tons of oil equivalent (mtoe), in 2017 to nearly 153.5 mtoe, in 2018. An increase in the rate of consumption is expected to maintain in the forecast period, thereby driving growth in the market.
  • Gas generators are expected to increase their share of generation capacity in the country due to well established natural gas transmission systems in the country, lower operating costs than diesel generators, and less carbon emission in the atmosphere. An increase in the use of gas generators is expected to aid the market.
  • The United Kingdom generator sets market is expected to increase in the forecast period due to the increase in the electricity demand and the rising popularity of gas generators.
Primary Energy Consumption

Competitive Landscape

The Europe generator sets market is fragmented. Some of the key players in this market include Caterpillar Inc, Mitsubishi Heavy Industries Ltd., Cummins Inc, Yanmar Holdings co. Ltd, and Atlas Copco AB.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions

  2. 2. EXECUTIVE SUMMARY

  3. 3. RESEARCH METHODOLOGY

  4. 4. MARKET OVERVIEW

    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast, in USD Billion, till 2025

    3. 4.3 Electricity Production and Consumption and Forecast, in TWh, till 2025

    4. 4.4 Recent Trends and Developments

    5. 4.5 Government Policies and Regulations

    6. 4.6 Market Dynamics

      1. 4.6.1 Drivers

      2. 4.6.2 Restraints

    7. 4.7 Supply Chain Analysis

    8. 4.8 Porter's Five Forces Analysis

      1. 4.8.1 Bargaining Power of Suppliers

      2. 4.8.2 Bargaining Power of Consumers

      3. 4.8.3 Threat of New Entrants

      4. 4.8.4 Threat of Substitutes Products and Services

      5. 4.8.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Fuel

      1. 5.1.1 Diesel

      2. 5.1.2 Gas

      3. 5.1.3 Others

    2. 5.2 Ratings

      1. 5.2.1 Below 75 kVA

      2. 5.2.2 75 – 350 kVA

      3. 5.2.3 Above 350 kVA

    3. 5.3 End-User

      1. 5.3.1 Residential

      2. 5.3.2 Commercial

      3. 5.3.3 Industrial

    4. 5.4 Geography

      1. 5.4.1 Germany

      2. 5.4.2 Russia

      3. 5.4.3 United Kingdom

      4. 5.4.4 Rest of Europe

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Cummins India Ltd.

      2. 6.3.2 Kirloskar Oil Engines Limited

      3. 6.3.3 Aggreko plc

      4. 6.3.4 Kohler Co.

      5. 6.3.5 Yanmar Holdings co. Ltd.

      6. 6.3.6 Caterpillar Inc.​

      7. 6.3.7 Mitsubishi Heavy Industries, Ltd.

      8. 6.3.8 Perkins Engines Company Limited

      9. 6.3.9 Honda Siel Power Products Limited

      10. 6.3.10 Atlas Copco AB

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Europe Generator Sets Market market is studied from 2016 - 2026.

The Europe Generator Sets Market is growing at a CAGR of 1% over the next 5 years.

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

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