Global Large Generator Market Forecast To 2028 - Rising Demand For An Uninterrupted Power Supply Drives Growth

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, May 26, 2023 (GLOBE NEWSWIRE) -- The "large generator market forecast to 2028 - covid-19 impact and global analysis by fuel type and industry" report has been added to ResearchAndMarkets.com's offering.
The large generator market size is expected to grow from US$ 6,176.78 million in 2022 to US$ 10,440.97 million by 2028; it is estimated to register a CAGR of 9.1% from 2022 to 2028.
The large generator market in Europe is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Growing industrial sectors and aging power grid infrastructure are expected to boost the market growth in the region during the forecast period.
The aging grid infrastructure increases the risk of power outages due to various reasons, such as natural disasters. According to a report from Eurelectric, about one-third of Europe's distribution network has been in use for more than 40 years, and it is estimated that by 2030, half of all distribution networks will exceed the 40-year threshold.

Further, Eurelectric states that electricity distribution grids in Europe will need investments between US$ 397.89 billion (EUR 375 billion) and US$ 450.94 billion (EUR 425 billion) until 2030 to modernize the aging infrastructure and expand the network to connect more renewables. The aging power infrastructure increasingly relies on large generators to tackle the risk of power outages, bolstering the growth of the large generator market in Europe.
Europe played a large role in developing the modern global oil and gas industry. European companies continue to play a major role in the oil and gas industry. The Europe oil and gas industry is facing increasing demands to cater to the rising energy need in the region. For many decades, the Europe oil & gas industry has been at the heart of delivering the increasing energy demand. This has allowed many areas in the industry to develop and prosper. Hence, continued power through large generators is necessary for the oil & gas industry, which is fueling the growth of the market.
Key Attributes:

Report Attribute	Details
No. of Pages	172
Forecast Period	2022 - 2028
Estimated Market Value (USD) in 2022	$6176.78 million
Forecasted Market Value (USD) by 2028	$10440.97 million
Compound Annual Growth Rate	9.1%
Regions Covered	Global

Market Dynamics

Drivers

• Rising Demand for Uninterrupted Power Supply
• Increasing Adoption for Distributed Power Generation

Restraints

• Growing Adoption of Renewable Energy Sources and Energy Storage Technologies

Opportunities

• Increasing Requirement for Hybrid, Bi-Fuel, or Dual Fuel Generators

Future Trends

• Development of Smart Solutions for Generators

Companies Mentioned

• Caterpillar Inc
• Cummins Inc
• Rolls-Royce plc
• INNIO Jenbacher GmbH & Co OG
• Mitsubishi Heavy Industries Ltd
• Generac Power Systems Inc
• Yanmar
• Atlas Copco AB
• ABB Ltd
• Siemens AG
• Kohler Co

For more information about this report visit

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Attachment

• global large generator market

Global Large Generator Market Global Large Generator Market Tags emergency power emergency power supply fuel generator generators power generator id="media-image-1" loading="lazy" src=' />

MENAFN26052023004107003653ID1106323795