Portugal Gas Generator Market Size
| 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 |
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 Market Trends
This section covers the major market trends shaping the Portugal Gas Generator Market according to our research experts:
Less than 75 kVA Capacity Rating to Dominate the Market
- The country is consistently growing in the arena of urbanization. The proliferation of telecommunication centers, commercial complexes, small restaurants, and small industries, resulting in high demand for continuous power supply, has led to a boost in the gas generator market, notably less than or equal to 75 kVA. Since less than 75 kVA gas generators offer emergency backup power, their purchase is mainly based on price and necessity rather than efficiency. They are used to provide backup power and serve as the primary source of power in off-grid locations.
- The biggest driver of the gas-generator market is the data center plans in the country, requiring a more reliable power supply. In April 2022, Start Campus kickstarted the construction of the Sines 4.0 mega data center in Portugal. The 495MW project includes a nine-building data center, which is expected to be completed in 2027.
- Due to the change in the landscape for small businesses, especially in developing countries like Portugal, the demand for gas generators less than 75 kVA is expected to increase. Since there are many natural hazards causing power outages in the country, most households and shops prefer portable and affordable small generators to cope with power outages.
- Further, due to current government initiatives, such as smart cities and green building initiatives, urbanization is rising in Portugal. As of 2021, the country's urban population makes up 66.85% of the total population. Such initiatives are expected to demand gas generators during the forecast period, driving the market.
Government Initiatives to Reduce Carbon Emissions to Drive the Market
- The policies aided by the Portuguese government in favor of carbon neutrality in the energy generation industry are expected to propel the gas generator market in the country. The most recent example is the introduction of tax incentives for the electricity generated from low-carbon emission sources.
- In December 2021, the Portuguese government approved the climate policy, which sets the target to achieve carbon neutrality by 2045 instead of 2050, a more ambitious plan for the country. It sets the requirements for the design of public policies across economic sectors and levels of government requirements for the design of public policies across economic sectors and levels of government to make them abide by the climate laws, with the help of financial benefits and other incentives.
- According to the Green Growth Commitment, Portugal is expected to reduce greenhouse gas emissions (GHG emissions) by 30 to 40% by 2030 (52.7-61.5 million metric tonnes of carbon dioxide equivalent (MtCO2e)) compared to 2005.
- Moreover, the European Union is stringently introducing new policies for climate change and the reduction of carbon emissions. As per the EU climate law, the EU countries must cut greenhouse emissions by at least 55% by 2030 and make the EU climate neutral by 2050.
- Natural gas burns cleaner than other conventional fuels, which helps reduce GHG emissions. Further, stricter emission regulations are promoting the use of eco-friendly gas generators to counter high-pollution emission risks, which continues to drive the market.
Portugal Gas Generator Industry Overview
The Portuguese gas generator market is moderately consolidated. Some key players in this market (in no particular order) are Mitsubishi Heavy Industries Ltd, Cummins Inc., General Electric Company, Grupel SA, and Hannaik.
Portugal Gas Generator Market Leaders
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Mitsubishi Heavy Industries Ltd
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Cummins Inc.
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General Electric Company
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Grupel SA
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Himoinsa sl
*Disclaimer: Major Players sorted in no particular order
Portugal Gas Generator Market News
- August 2022: Grupel, a European power generator manufacturer based in Portugal, signed an agreement with Cummins Inc. to develop and manufacture gensets up to 700kVA, which will be produced at Grupel's industrial unit.
Portugal Gas Generator Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope Of The Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size And Demand Forecast In USD Billion, Till 2027
4.3 Recent Trends And Developments
4.4 Government Policies And Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Industry Attractiveness - Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitute Products and Services
4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Capacity Rating
5.1.1 Less than 75 kVA
5.1.2 75-375 kVA
5.1.3 Above 375 kVA
5.2 By End-user
5.2.1 Industrial
5.2.2 Commercial
5.2.3 Residential
6. COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, And Agreements
6.2 Strategies Adopted By Leading Players
6.3 Company Profiles
6.3.1 Mitsubishi Heavy Industries Ltd
6.3.2 Cummins Inc.
6.3.3 General Electric Company
6.3.4 Grupel SA
6.3.5 Himoinsa SL
6.3.6 Aggreko PLC
6.3.7 Hannaik
6.3.8 Dagartech
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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 Research 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.
What years does this Portugal Gas Generator Market cover?
The report covers the Portugal Gas Generator Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Portugal Gas Generator Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Portugal Gas Generator Industry Report
Statistics for the 2024 Portugal Gas Generator market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Portugal Gas Generator analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
