At 8.1% CAGR, the Europe Large Generator Market is projected to be worth US$ 2,048.62 million by 2028, says Business Market Insights

According to Business Market Insights’ research, the Europe large generator market was valued at US$ 1,284.94 million in 2022 and is expected to reach US$ 2,048.62 million by 2028, registering an annual growth rate of 8.1% from 2022 to 2028.  Increasing adoption for distributed power generation and rising demand for uninterrupted power supply are the critical factors attributed to the Europe large generator market expansion.

The rising demand for power is turning it into various forms of distributed generation. Although solar PV and other renewable technologies are receiving most of the coverage, but they represent only a small portion of the distributed market. Thus, to cater to the growing power demand, diesel generators have been used for distributed generation. However, due to the factors, such as cheap natural gas and increasingly stringent environmental regulations, there is a rise in the demand for distributed natural gas generation (DNGG) technologies. Also, the rising demand for compact, resilient, dispatchable power the demand for DNGG is rising in the market. Various businesses are using technology to provide continuous power to their facilities. Thus, the growing demand for DNGG, as it is a reliable power source its demand is increasing, further bolstering the growth of the large generator market. Furthermore, distributed power generation through diesel generators is increasingly used in various industries. It is used not only at manufacturing sites where the electricity supply from power utilities can be unreliable, but its demand at remote mining sites and even at other utilities that need to supplement their centralized generation assets is also increasing. Moreover, distributed power generation using diesel generators can cater to the power demand from commercial and industrial sectors during power cuts. Such growing demand for distributed power generation for a regular supply of electricity will further boost the growth of large generator market during the forecast period.

On the contrary, growing adoption of renewable energy sources and energy storage technologies hurdles the growth of Europe large generator market.    

On the basis of fuel type, the Europe large generator market is segmented into diesel, natural gas, hydrogen, and dual. The diesel segment held 61.5% market share in 2022, amassing US$ 790.27 million. It is projected to garner US$ 1,218.10 million by 2028 to expand at 7.5% CAGR during 2022–2028.  

Based on industry, the Europe large generator market is further segmented into oil & gas, IT & telecom, power & utility, and others. The IT & telecom segment held 47.06% market share in 2022, amassing US$ 604.74 million. It is projected to garner US$ 988.88 million by 2028 to expand at 8.5% CAGR during 2022–2028.  

Based on country, the Europe large generator market is segmented into France, Germany, UK, Italy, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 24.7% market share in 2022. It was assessed at US$ 317.03 million in 2022 and is likely to hit US$ 527.05 million by 2028, exhibiting a CAGR of 8.8% during the forecast period.

Key players dominating the Europe large generator market are ABB Ltd, Atlas Copco AB, Caterpillar Inc, Cummins Inc, INNIO Jenbacher GmbH & Co OG, Kohler Co, Mitsubishi Heavy Industries Ltd, Siemens AG, and Yanmar Holdings Co Ltd among others.  

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com