Posted On: 2019-11-22
Germany captured significant share in the Europe diesel genset market revenues during the forecast period-6Wresearch
Europe diesel genset market is projected to witness a moderate growth rate during the forecast period on account of increasing demand for power backup solution and rise in electricity demand in the region. Further, growing projects in industrial and commercial sectors are also anticipated to boost the demand for diesel gensets across the region over the coming years.
According to 6Wresearch, Europe Diesel Genset Market is expected to grow at a CAGR of 1.5% during the forecast period, 2019-25. The gap between power demand and supply, especially in off grid areas and diesel gensets used as a backup emergency source of power in healthcare, hospitality, commercial and manufacturing sector is one of the primary reason for this growth in many countries such as France, Italy, and Russia. Furthermore, increasing investment in industrial sector coupled with growing projects in the commercial industry such as the establishment of hospitals, education centers, and banks are other crucial factors leading to the growth of diesel gensets in Europe.
According to Shefali Goel, Assistant Manager, Research and Consulting, 6Wresearch, “Germany and Russia accounted for a significant revenue share in the overall Europe diesel genset market. Germany contributed a significant share in the Europe diesel genset market during the forecast period, owing to rising demand to provide power to machinery, in order to increase the manufacturing output of the country. Additionally, France and Russia are anticipated to witness modest growth due to increasing manufacturing projects and growing number of transportation infrastructure projects in the countries.
Moreover, diesel genset market in other countries of the region is also expected to witness sluggish growth during the forecast period as a result of global slowdown in the region due to undesirable government policies and slowdown of economic activities in the region.” Shefali concluded.
According to Navneet Aggarwal, Research Associate, Research and Consulting, 6Wresearch, “Commercial application registered a significant revenue share in the Europe diesel genset market in 2018 and is expected retain its dominance during the forecast period. Europe has been a prime location for business expansion and setup for corporates around the globe, especially in countries such as Germany, France, UK, and Italy. These factors support the growth of commercial hubs in these countries and further development of infrastructure and commercial projects would act as a catalyst in the growth of diesel genset market of the region.”
“Moreover, increasing use of diesel gensets to provide electricity for construction projects for industries, residential areas and commercial space is a crucial factor contributing to the growth in Europe diesel genset market over the coming years.”, Navneet concluded.
Some of the key players in Europe diesel genset market include: Caterpillar, Cummins, MTU Onsite Energy, and Kohler SDMO.
“Europe Diesel Genset Market (2019-2025)” report provides an in-depth analysis with 102 figures covered in more than 300 pages. The Europe diesel genset market report estimates and forecast the overall Europe diesel genset market by revenues, kVA ratings, applications, and countries including U.K, France, Germany, Italy, Italy, and Russia. The Europe diesel genset market report also offer insights on market ranking by companies, company profiles, market drivers, restraints, and recommendations.