Europe Gensets Market Analysis 2019-2028
A generator set or genset is an electronic device which is used to generate electricity by the conversion of chemical energy into mechanical energy and then into electrical energy. A generator set consists of a fuel driven engine which is connected to an alternator. The engine rotates the alternator which converts the mechanical energy into electrical energy. The Europe genset market is anticipated to grow with a CAGR of 3.7% during the forecast period, i.e., 2021-2028. Factors such as the growing investments for R&D for the development of efficient genset systems, followed by the growing adoption of zero or low-emission gensets, and the rising popularity of hybrid generator set systems are anticipated to promote the growth of the Europe genset market during the forecast period. Additionally, factors such as the rising need for uninterrupted power supply, backed by increasing industrialization and rapid urbanization, followed by the need for power backup systems where there is lack of access to grid power systems, are anticipated to drive the market growth.
The Europe genset market consists of segments that are segmented by genset-type, application, power rating, end-user, and by region. The power rating segment is further divided 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 these segments, the up to 100 kVA segment registered the largest share in the year 2019 and is further expected to reach a value of around USD 840 million by the end of 2021 owing to the rising number of construction activities across several countries in Europe, coupled with the increasing need for small gensets in small offices and commercial spaces.
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.
A generator set or genset is an electronic device which is used to generate electricity by the conversion of chemical energy into mechanical energy and then into electrical energy. A generator set consists of a fuel driven engine which is connected to an alternator. The engine rotates the alternator which converts the mechanical energy into electrical energy. The Europe genset market is anticipated to grow with a CAGR of 3.7% during the forecast period, i.e., 2021-2028. Factors such as the growing investments for R&D for the development of efficient genset systems, followed by the growing adoption of zero or low-emission gensets, and the rising popularity of hybrid generator set systems are anticipated to promote the growth of the Europe genset market during the forecast period. Additionally, factors such as the rising need for uninterrupted power supply, backed by increasing industrialization and rapid urbanization, followed by the need for power backup systems where there is lack of access to grid power systems, are anticipated to drive the market growth.
The Europe genset market consists of segments that are segmented by genset-type, application, power rating, end-user, and by region. The power rating segment is further divided 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 these segments, the up to 100 kVA segment registered the largest share in the year 2019 and is further expected to reach a value of around USD 840 million by the end of 2021 owing to the rising number of construction activities across several countries in Europe, coupled with the increasing need for small gensets in small offices and commercial spaces.
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.
Table of Contents
Europe Gensets Market2. Assumptions and Acronyms4. Executive Summary- Europe Genset Market5. Regulatory Landscape7. Porter’s Five Forces Analysis8. Pestel Analysis10. Impact of Covid-19 on Europe Genset Market11. Growth Opportunity Analysis14. Leading Genset Rental Players15. Leading Hybrid Genset Players16. Assessment of Key OEM Players19. Analyst’s Review
1. Introduction
3. Research Methodology
6. Industry Value Chain Analysis
9. Market Dynamics
12. Investment Outlook
13. End-User Analysis
17. Competitive Structure
18. Europe Genset Market Outlook
Companies Mentioned
- Cummins Inc.
- AKSA POWER GENERATION (KAZANCI HOLDING)
- Caterpillar
- Briggs & Stratton LLC
- PR INDUSTRIAL srl (Generac Power Systems Inc.)
- Mitsubishi Heavy Industries Ltd.
- Kohler Co.
- Doosan Portable Power
