The Europe large generator market is expected to grow from US$ 1,284.94 million in 2022 to US$ 2,048.62 million by 2028. It is estimated to grow at a CAGR of 8.1% from 2022 to 2028.
Rising Demand for Uninterrupted Power Supply in Europe Large Generator Market
In recent years, there has been a drastic increase in the demand for power. The lack of reliable power grid infrastructure needs for emergency power backup solutions, and requirement for a steady power supply have increased the demand for large generators in various industries. The need for an uninterrupted power supply has increased in the mining industry. Many heavy-duty equipment is used in mining operations, such as excavating machinery, conveyor belts, drillers, and cranes, which require a continuous power supply even in harsh environments. Similarly, in oil & gas and petrochemical industries, highly reliable electrical power is needed to protect people, assets, the environment, and the continuity of sensitive operations. Also, various activities are carried out in the oil & gas fields, including drilling, pumping, and loading, which require an uninterrupted power supply for continuous operation and safety purposes. Moreover, on oil rigs, an uninterruptible power supply is mandatory to ensure that signal lighting is always operational. Thus, the rising demand for an uninterruptible power supply in oil & gas and petrochemical industries is fueling the growth of the large generator market. Furthermore, for the high volume production of different goods, there is a need for an uninterruptible power supply in the manufacturing industry. A slight power disruption at a manufacturing plant can not only lead to low-volume production but also affect the quality of the production. This has raised the demand for large generators at manufacturing plants. In addition, the data center boom is further boosting the demand for an uninterruptible power supply. The data center market is rapidly growing due to the digital revolution and the 5G rollout. The growing data center industry will increase the demand for uninterrupted power, fueling the market growth.
Europe Large Generator Market Overview
The large generator market in Europe is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Growing industrial sectors and aging power grid infrastructure are expected to boost the market growth in the region during the forecast period. The aging grid infrastructure increases the risk of power outages due to various reasons, such as natural disasters. According to a report from Eurelectric, about one-third of the Europe distribution network has been in use for more than 40 years, and it is estimated that by 2030, half of all distribution networks will exceed the 40-year threshold. Further, Eurelectric states that electricity distribution grids in Europe will need investments between US$ 397.89 billion (EUR 375 billion) and US$ 450.94 billion (EUR 425 billion) until 2030 to modernize the aging infrastructure and expand the network to connect more renewables. The aging power infrastructure increasingly relies on large generators to tackle the risk of power outages, bolstering the growth of the large generator market in Europe.
Europe Large Generator market Revenue and Forecast to 2028 (US$ Million)
Europe Large Generator Market Segmentation
The Europe large generator market is segmented on the basis of fuel type, industry, and country. On the basis of fuel type, the Europe large generator market is segmented into diesel, natural gas, hydrogen, and dual. The diesel segment registered a larger market share in 2022.
Based on industry, the Europe large generator market is further segmented into oil & gas, IT & telecom, power & utility, and others. The IT & telecom segment registered a larger market share in 2022.
Based on country, the Europe large generator market is segmented into France, Germany, UK, Italy, Russia, and the Rest of Europe. Germany dominated the market share in 2022.
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 are the leading companies operating in the Europe large generator market.