Market Size of Portugal Gas Generator Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.80 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Portugal Gas Generator Market Analysis
The Portuguese gas generator market is expected to register a CAGR of over 3.8% during the forecast period. The COVID-19 pandemic had a negative impact on the global gas generator market due to the reduction in power demand, mainly from institutional customers (industrial and commercial sector), as many manufacturing plants and retail businesses were closed during the lockdown. But the market recovered after the COVID-19 situation got diluted, as the power demand escalated again.
- Over the medium term, the market studied is anticipated to grow due to various factors, such as increased awareness of natural gas as a clean, reliable fuel, an increased concern over diesel maintenance and refueling issues, a decrease in natural gas fuel prices, and a desire to be more environmentally conscious.
- On the other hand, the high capital cost of natural gas generators compared to diesel generators, coupled with the limited supply of natural gas, is expected to limit the business' growth.
- The technological developments taking place in the gas gensets industry create ample opportunities for the market. For example, in 2021, Caterpillar, one of the leading industry players, launched a new gas-based genset that can run on 100% hydrogen. The all-new CATG3516H hydrogen-based generator was launched in the European and North American markets.
