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During the forecast period (2023-2030), the global backup power market is projected to expand from $2.68 billion in 2023 to $4.37 billion in 2030, representing a CAGR of 7.3%. The market is expanding because of several causes, including the rising requirement for UPS systems across many sectors, the prevalence of power outages caused by natural disasters, and the need of having dependable power backup solutions in data centres.
In the event of a power failure, a building or piece of machinery can continue to function with the help of a backup power system. If your primary power source goes down, you'll still have access to electricity thanks to your backup generator. Keeping vital services like security, communications, and operations running smoothly during an emergency can depend on this.
Batteries are used as backup power since they can perform the same tasks as conventional generators but do not need to be refuelled. Lead-acid and lithium-ion batteries, two common types of backup batteries, are most commonly utilised. Lithium-ion batteries have superior energy density, depth of discharge, charge rate, power-holding capability, and life cycle to lead-acid batteries, but lead-acid batteries are cheaper and last longer with less maintenance.
Growth of the market throughout the projection period can be attributed to a number of factors, including rising disposable income, rising usage of batteries as backup power, and rising concerns over emissions from the use of conventional power generators. In addition, the profitable demand for this market will be created by the introduction of new goods and services and other strategic partnerships by industry key player. The worldwide backup power market will be lucrative throughout the projected period because of government incentives to reduce the upfront costs of the backup power systems.
In the early phases of the COVID-19 pandemic, governments in a number of different countries throughout the world instituted emergency lockdown measures. Numerous nations felt the wrath of the virus in 2021 as the second wave spread, prompting governments everywhere to once again implement lockdown procedures. Problems with the supply chain and, by extension, production, have arisen as a result of partial or whole business closures and travel restrictions. The market is anticipated to experience consistent growth in demand over the next years as a result of the resumption of trade activity. Current and future market size and growth patterns across all regions and countries are estimated taking into account the impact of COVID-19 on market demand.
As more and more businesses rely on computers and other digital infrastructure, there is a greater need for reliable power. Market expansion can be attributed to the increasing prevalence of backup power solutions such as generators and UPS in the event of grid failures or power outages. There has been an increase in the frequency of power outages in recent years due to causes such as natural disasters, extreme weather, and an ageing power infrastructure. Significant economic losses and disruption of key services may result from these disruptions. The need for backup power solutions is increasing as more people realise their value in times of crisis.
Report Coverage
Global Backup Power research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Backup Power report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Backup Power competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Backup Power market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Backup Power market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Backup Power market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Caterpillar Inc., Cummins Inc., Generac Power Systems Inc., Kohler Co., MTU Onsite Energy Corporation, Himoinsa S.L., Atlas Copco AB, Mitsubishi Heavy Industries Ltd., Briggs & Stratton Corporation, Schneider Electric SE, Eaton Corporation, Aggreko plc, Wärtsilä Corporation, Yanmar Co. Ltd., Doosan Corporation
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Backup Power market based on the below-mentioned segments:
Global Backup Power Market, By Type
Diesel Generator
Gas Generator
Battery
UPS
Global Backup Power market, By Application
Residential
Commercial
Industrial
Global Backup Power Market, By End User
Telecommunications
Healthcare
Manufacturing
Data Centers
Utilities
Retail
Global Backup Power market, Regional Analysis
In the event of a power failure, a building or piece of machinery can continue to function with the help of a backup power system. If your primary power source goes down, you'll still have access to electricity thanks to your backup generator. Keeping vital services like security, communications, and operations running smoothly during an emergency can depend on this.
Batteries are used as backup power since they can perform the same tasks as conventional generators but do not need to be refuelled. Lead-acid and lithium-ion batteries, two common types of backup batteries, are most commonly utilised. Lithium-ion batteries have superior energy density, depth of discharge, charge rate, power-holding capability, and life cycle to lead-acid batteries, but lead-acid batteries are cheaper and last longer with less maintenance.
Growth of the market throughout the projection period can be attributed to a number of factors, including rising disposable income, rising usage of batteries as backup power, and rising concerns over emissions from the use of conventional power generators. In addition, the profitable demand for this market will be created by the introduction of new goods and services and other strategic partnerships by industry key player. The worldwide backup power market will be lucrative throughout the projected period because of government incentives to reduce the upfront costs of the backup power systems.
In the early phases of the COVID-19 pandemic, governments in a number of different countries throughout the world instituted emergency lockdown measures. Numerous nations felt the wrath of the virus in 2021 as the second wave spread, prompting governments everywhere to once again implement lockdown procedures. Problems with the supply chain and, by extension, production, have arisen as a result of partial or whole business closures and travel restrictions. The market is anticipated to experience consistent growth in demand over the next years as a result of the resumption of trade activity. Current and future market size and growth patterns across all regions and countries are estimated taking into account the impact of COVID-19 on market demand.
As more and more businesses rely on computers and other digital infrastructure, there is a greater need for reliable power. Market expansion can be attributed to the increasing prevalence of backup power solutions such as generators and UPS in the event of grid failures or power outages. There has been an increase in the frequency of power outages in recent years due to causes such as natural disasters, extreme weather, and an ageing power infrastructure. Significant economic losses and disruption of key services may result from these disruptions. The need for backup power solutions is increasing as more people realise their value in times of crisis.
Report Coverage
Global Backup Power research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Backup Power report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Backup Power competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Backup Power market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Caterpillar Inc., Cummins Inc., Generac Power Systems Inc., Kohler Co., MTU Onsite Energy Corporation, Himoinsa S.L., Atlas Copco AB, Mitsubishi Heavy Industries Ltd., Briggs & Stratton Corporation, Schneider Electric SE, Eaton Corporation, Aggreko plc, Wärtsilä Corporation, Yanmar Co. Ltd., Doosan Corporation |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Backup Power Market from 2021 to 2030.
- Market Forecast for Backup Power Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Backup Power competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Backup Power
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Backup Power market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Backup Power market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Caterpillar Inc., Cummins Inc., Generac Power Systems Inc., Kohler Co., MTU Onsite Energy Corporation, Himoinsa S.L., Atlas Copco AB, Mitsubishi Heavy Industries Ltd., Briggs & Stratton Corporation, Schneider Electric SE, Eaton Corporation, Aggreko plc, Wärtsilä Corporation, Yanmar Co. Ltd., Doosan Corporation
Primary Target Market
- Market Players of Backup Power
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Backup Power market based on the below-mentioned segments:
Global Backup Power Market, By Type
Diesel Generator
Gas Generator
Battery
UPS
Global Backup Power market, By Application
Residential
Commercial
Industrial
Global Backup Power Market, By End User
Telecommunications
Healthcare
Manufacturing
Data Centers
Utilities
Retail
Global Backup Power market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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