Press release
Global Backup Power Market To Grow At A CAGR Of 4.59% During The Period 2017-2021
Power outages can be caused due to natural calamities, overload, or equipment failures. It is a recurring problem that disrupts the operations in residential, commercial, and industrial sectors. The monetary losses incurred vary from sector to sector and can run into millions. Therefore, to minimize the losses and stay protected against utility power outages, backup power systems are being adopted where the momentary power outages do not disrupt the operations. For instance, installing a diesel generator for emergency backup can meet the full load that it is designed for under 10 seconds. It is regarded as a highly reliable source and can run for about 3.5 years without any major overhauls. However, they need to be regularly serviced and maintained.
Technavios analysts forecast the global backup power market to grow at a CAGR of 4.59% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global backup power market for 2017-2021. To calculate the market size, the report considers the revenue generated from the new installations and exclude aftermarket/services market.
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The market is divided into the following segments based on geography:
Americas
APAC
EMEA
Technavio's report, Global Backup Power Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
Aggreko
Bloom Energy
Caterpillar
Cummins
LG Chem
Other prominent vendors
AISIN SEIKI
Alpine Power Systems
APR Energy
Atlas Copco
Ballard Power Systems
Briggs & Stratton
Doosan Fuel Cell America
East Penn Manufacturing
Eaton
Emerson
EnerSys
Enocell
Enphase Energy
Exide Technologies
Exide Industries
Generac Power Systems
GS Yuasa
HIMOINSA
Kohler
MITSUBISHI HEAVY INDUSTRIES
Nuvera Fuel Cells
Schneider Electric
SFC Energy
Su-Kam Power Systems
Tesla
Market driver
Increasing need for backup power due to grid outages.
For a full, detailed list, view our report
Market challenge
Increasing distributed generation and off-grid power systems.
For a full, detailed list, view our report
Market trend
Aging grid infrastructure.
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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