Europe's gas genset market is experiencing significant growth attributed to stringent environmental regulations, driving the shift towards cleaner energy alternatives. The increasing adoption of natural gas gensets over diesel counterparts is propelled by their lower emissions and operational cost advantages. Additionally, the integration of renewable energy sources with gas gensets for hybrid power generation further augments market growth. The demand is notably high in industrial and commercial sectors, where reliable power backup is essential for uninterrupted operations. Furthermore, technological advancements such as remote monitoring and control capabilities enhance the appeal of gas gensets among end-users in Europe.
The Europe Gas Genset market is expected to grow from USD 11.87 billion in 2024 to USD 16.8 billion by 2032, at a CAGR of 4.44% over the forecast period. The growth of the market is attributed to the increasing demand for reliable and efficient power supply from various industries, such as data centers, healthcare, and telecommunications.
Europe Gas Gensets are used to generate electricity using natural gas or propane. They are more efficient and environmentally friendly than diesel gensets. Europe Gas Gensets are also becoming more popular in developing countries, where the demand for reliable power supply is high.
Competitive Outlook
- Caterpillar
- Cummins
- Wartsila
- Siemens AG
- GE
- ABB
- Genrac Power Systems
- MTU Onsite Energy GmbH
- PARAMAC
- Himoinsa
- Sudhir Power
Market Scope
The Europe Gas Genset market is expected to grow at ~4.44% CAGR during the forecast period.
Segmentation
The Europe Gas Genset market has been segmented based on fuel, power rating, application, and end-user.
Based on fuel, the market is classified into natural gas, biogas, and others. Natural gas segment is leading the market and has the largest market share, mainly due to availability of natural gas.
The Europe Gas Genset market is further segmented based on power rating into up to 100 KVA, 100-350 KVA, 350-1000, and above 1000 KVA.
Based on application, the Europe Gas Genset market is segmented into standby, peak shaving, and continuous. Standby segment led the Europe Gas Genset market in 2017.
By end-user, it is segmented into residential, industrial, and commercial. Residential segment is estimated to register the highest growth rate in the Europe Gas Genset market during the forecast period.
Regional Analysis
North America is expected to be the fastest-growing market, by region, during the forecast period. This is due to the rising production of natural gas and shale gas in the region. US is expected to dominate the Natural gas generators market share in North America owing to declining prices of natural gas and due to carbon emission reduction targets. Asia-Pacific also offers promising business opportunities in the Europe Gas Genset market owing to rising natural gas production in Southeast Asian countries in the region.
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