| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2020 - 2023 |
| CAGR | 1.00% |
| Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Europe Generator Sets Market Analysis
The Europe Generator Sets Market is expected to register a CAGR of 1% during the forecast period.
- Over the medium period, factors such as demand for uninterrupted and reliable power supply, backup requirements during power outages, and the longer timeframe required to set up the transmission and distribution infrastructure are expected to drive the generator sets market.
- On the other hand, the higher cost of electricity produced by the generator sets relative to the utility grid is expected to restrain the market.
- Nevertheless, the rising popularity of hybrid generators and the rising reliability of the hybrid system may be an opportunity for the industry due to its usage of various resources, driving down the cost and reducing dependence on a single fuel.
- The United Kingdom is expected to be a significant market in the forecast period, with most of the demand coming from the industrial sector and rise in commercial office spaces and small-scale enterprises.
Europe Generator Sets Market Trends
Industrial Sector is Expected to Dominate the Market
- The industrial sector, which includes mining, manufacturing, agriculture, and construction, accounts for a large share of the energy consumption of any end-use industry.
- The industrial sector is estimated to account for the largest share of power generation in the diesel and gas generator market. Industrial operations mainly depend on electricity generated from generator sets during power outages (to avoid production risks) and in regions with limited grid access.
- In May 2023, Caterpillar announced the addition of two new mobile solutions to its portfolio of portable diesel generator sets that fulfill European Union (EU) Stage V emission criteria. Compared to the Stage IIIA standard, the Cat XQP20 and Cat XQP550 meet the requirements of Stage V standards, including a 90% reduction in nitrogen oxides. With such technology development in emission criteria, the use of generators is expected to increase in the industrial segment, thereby driving the market's growth.
- Europe has used gas as a substitute for coal and oil in power generation. The strengthening of the gas pipeline infrastructure and storage network across Europe is expected to increase the uptake of gas generators in prime power and backup power applications and dissuade public and private enterprises from using diesel as the primary backup fuel. Diversifying the fuel is expected to boost the Europe generator sets market.
- According to EMBER, in 2022, the total electricity generation in European Union accounted for 2795.49 terawatt-hours. Thus, with increasing urbanization and industrialization, power demand is expected to increase, thereby increasing electricity generation, which will drive the market.
- Hence, the industrial segment is expected to dominate the Generator sets market in the forecast period due to its extensive product usage and the sector's growing size.
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The United Kingdom to be a Significant Market
- The United Kingdom is among the leading generator sets markets in the Europe region. This is due to increasing infrastructure projects, expansion of manufacturing facilities nationwide, and rising commercial office spaces. The country benefits from the cost and effectiveness of generator sets, with improved living standards increasing the demand for power backup device segments.
- United Kingdom's vast agriculture sector covers more than 60% of the country's total land area. Although the country's power grid increasingly depends on renewable sources, the agriculture industry still relies on the power backup system. Growth in agriculture and related industries is expected to impact the market positively.
- Data centers are responsible for 1-3% of the country's electricity usage. The amount of data centers in the United Kingdom is expected to increase in the forecast period, whose backup power generation may be provided by the generator sets and which may act as a driver for the market.
- According to the UK Department for Business, in November 2022, total electricity consumption in the United Kingdom accounted for 24.28 TWh, greater than 22.36 TWh as compared to the previous month. An increase in the consumption rate is expected to maintain in the forecast period, thereby driving growth in the market.
- Gas generators are expected to increase their share of generation capacity in the country due to well-established natural gas transmission systems, lower operating costs than diesel generators, and less carbon emission in the atmosphere. An increase in the use of gas generators is expected to aid the market.
- The United Kingdom generator sets market is expected to increase in the forecast period due to increased electricity demand and the rising popularity of gas generators.
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Europe Generator Sets Industry Overview
The Europe generator sets market is fragmented. Some of the key players in this market include (in no particular order) Caterpillar Inc, Mitsubishi Heavy Industries Ltd., Cummins Inc., Yanmar Holdings co. Ltd, and Atlas Copco AB.
Europe Generator Sets Market Leaders
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Caterpillar Inc.
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Mitsubishi Heavy Industries Ltd.
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Cummins Inc
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Yanmar Holdings Co. Ltd.
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Atlas Copco AB
- *Disclaimer: Major Players sorted in no particular order
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Europe Generator Sets Market News
- In February 2023, Volvo Penta expanded its industrial genset product line with a new 200 kVA D8 Stage II engine. The 8-liter power-generating engine provides excellent fuel efficiency, a compact size, and low noise levels.
- In October 2022, Himoinsa, a provider of power technology solutions, showcased its whole Mobile Power product line at Bauma 2022 in Munich, including battery power storage systems, light towers, and gas and diesel generator sets with Stage V engines. The company launched the EHR | Battery Power Generator (60 kWh) and works on 500 kWh and 1 MW units in 20-foot containers and 2 MW units in 40-foot containers.
Europe Generator Sets Industry Segmentation
An engine generator is a device that combines an electrical generator and an engine into a single piece of equipment. This combination is also known as an engine-generator set (gen-set). The machine is often taken for granted, and the combined device is called a generator.
The Europe generator sets market is segmented by fuel, ratings, end user, and geography. By fuel, the market is segmented into diesel, gas, and others. By ratings, the market is segmented into below 75 kVA, 75-350 kVA, and above 350 kVA. By end-user, the market is segmented into residential, commercial, and industrial. The report also covers the market size and forecasts for the Europe generator sets market across major countries. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).
| Fuel | Diesel |
| Gas | |
| Others | |
| Ratings | Below 75 kVA |
| 75 - 350 kVA | |
| Above 350 kVA | |
| End-User | Residential |
| Commercial | |
| Industrial | |
| Geography | Germany |
| Russia | |
| United Kingdom | |
| Rest of Europe |
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Europe Generator Sets Market Research FAQs
What is the current Europe Generator Sets Market size?
The Europe Generator Sets Market is projected to register a CAGR of 1% during the forecast period (2025-2030)
Who are the key players in Europe Generator Sets Market?
Caterpillar Inc., Mitsubishi Heavy Industries Ltd., Cummins Inc, Yanmar Holdings Co. Ltd. and Atlas Copco AB are the major companies operating in the Europe Generator Sets Market.
What years does this Europe Generator Sets Market cover?
The report covers the Europe Generator Sets Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Europe Generator Sets Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Europe Generator Sets Industry Report
The Europe Generator Sets Market is segmented by fuel types including diesel, gas, and others, as well as by ratings such as below 75 kVA, 75-350 kVA, and above 350 kVA. The market also categorizes end users into residential, commercial, and industrial sectors, and covers geographical areas like Germany, Russia, the United Kingdom, and the rest of Europe. The industry report provides a comprehensive industry analysis, highlighting the market share, market size, and market forecast. It includes an industry overview and market trends, focusing on market growth and market leaders.
The market report offers detailed industry information and industry outlook, supported by industry statistics and industry research. The market analysis delves into market segmentation and market value, providing insights into market predictions and market review. The report also includes a report example and a report PDF for further reference.
This market research is crucial for understanding the generator set market size and the market size generator set trends. The industry reports cover various aspects such as industry sales, industry size, and industry trends. The market data provided in the report is essential for identifying market growth and market outlook. Industry research companies contribute to the market forecast and market overview, ensuring a thorough understanding of the market dynamics.
