Market Size of Europe Gas Generator Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 529.90 Million |
| Market Size (2029) | USD 708.46 Million |
| CAGR (2024 - 2029) | 5.98 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Gas Generator Market Analysis
The Europe Gas Generator Market size is estimated at USD 529.90 million in 2024, and is expected to reach USD 708.46 million by 2029, growing at a CAGR of 5.98% during the forecast period (2024-2029).
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Factors such as stringent environmental regulations, declining gas prices, rising demand for reliable power supply, and increasing demand for flexible transmission of renewable power are driving gas generators in Europe. The growing need for uninterrupted power supply during power outages and power failure has boosted the adoption of gas generators in all major sectors in Europe.
- However, limited power generation capacity, high maintenance & operating cost, and a growing tendency towards renting gas generators are expected to restrain market growth as customers see the financial benefits of renting instead of buying generators.
- Europe has plans to move towards meeting its emission reduction targets by 2030. Therefore, gas generators are expected to gain market share among end-user segments that were dominated by diesel generators as the region moves towards lower-emission fuel sources, which in turn, is expected to create significant opportunities for market participants shortly.
- Germany is expected to be the largest market for during the forecast period for Europe gas generators.
