Market Size of Europe Generator Sets Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 1.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Generator Sets Market Analysis
The Europe generator sets market is estimated to be at USD 3.5 billion by the end of this year and is projected to reach USD 4.42 billion in the next five years, registering a CAGR of over 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.
