Despite the fairly mature landscape of the Western European counterpart, the European genset market earned revenues of $ 958.2 million in 2006, which is estimated to reach $1,195 million in 2013.
“Sound economic growth and increasing investments in infrastructure in the Eastern European countries are propelling the European gensets market forward,” says Frost & Sullivan research analyst Aarthi Balachandran. “Demand for power is expected to gather pace in this region and as commercial, as well as industrial, activities significantly increase, the genset market will witness growth,” she adds.
Another significant factor that may affect the market is the development of alternative sources of power generation such as renewable energy, fuel cells and gas gensets, which can inhibit market growth rates in the long-term, the company says.
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