PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1385355
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1385355
Europe Diesel Gensets Market size is set to expand at 6.7% CAGR from 2023-2032. The growing grid unreliability due to the aging infrastructure and environmental factors is contributing to the increasing need for supplementary power source across major European countries. With the increasing burden of intermittent power supply and vulnerabilities in the electricity grid, several businesses and industries are turning to diesel gensets for dependable backup power solutions.
Moreover, to align with stringent environmental regulations and emissions standards, a large number of regional manufacturers are developing cutting-edge diesel gensets featuring fuel efficiency, reduced emissions, and advanced technology, thereby promoting the industry growth. For instance, in May 2023, Cummins Inc., a leading power technology firm, launched the Marine Diesel Cummins Turbo Genset compatible with EPA Tier 3 and EU Stage V requirements.
The Europe diesel gensets industry is segmented into power rating, end use, application, and country.
In terms of power rating, the market size from the > 330 kVA - 750 kVA segment is anticipated to gain significant traction between 2023 and 2032. The rising demand for robust backup power systems across various applications, including large-scale industrial facilities, data centers, and critical infrastructure projects is contributing to the increasing adoption of mid-range gensets. Additionally, the growing technological advancements, improved fuel efficiency, and stringent emission norms are likely to further amplify the product demand in the region.
Europe diesel gensets market from the industrial end-use segment registered notable gains in 2022 and is projected to depict steady growth from 2023 to 2032. This is owing to the rising need for reliable and uninterrupted power supply across the industrial sector to maintain productivity and minimize downtime. The presence of stringent regulations on emissions will also drive the demand for advanced and environmentally compliant genset solutions, contributing to the overall regional industry growth.
Based on country, Russia diesel gensets industry size is estimated to exhibit robust growth by 2032 owing to the presence of diverse industrial landscape coupled with the need for reliable power solutions in remote areas. The expansive territory of the region is presenting challenges in grid connectivity, making diesel gensets crucial for ensuring stable power supply. Additionally, the rollout of stringent regulations on emissions and the soaring emphasis on backup power solutions are adding to the growing adoption of advanced and eco-friendly diesel gensets in the country.