LONDON–(BUSINESS WIRE)–Technavio has been monitoring the residential backup power market and it is poised to grow by USD 1.92 billion during 2020-2024, progressing at a CAGR of over 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
Frequently Asked Questions:
-
Based on segmentation by technology, which is the leading segment in the market?
Generators.
-
What are the major trends in the market?
Increase in hybrid power systems.
-
At what rate is the market projected to grow?
The market is projected to grow at a CAGR of over 4% during 2020-2024.
-
Who are the top players in the market?
ABB Ltd., Caterpillar Inc., Cummins Inc., Exide Industries Ltd., Kohler Co., Panasonic Corp., Schneider Electric SE, Tesla Inc., Toshiba Corp., and Trojan Battery Co. LLC. are the top players in the market.
-
What are the key market drivers and challenges?
The market is driven by the growing use of batteries for power back up. However, the rise in distributed power generation might hamper the market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Caterpillar Inc., Cummins Inc., Exide Industries Ltd., Kohler Co., Panasonic Corp., Schneider Electric SE, Tesla Inc., Toshiba Corp., and Trojan Battery Co. LLC. are some of the major market participants. The growing use of batteries for power back up will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
View market snapshot before purchasing
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Residential Backup Power Market 2020-2024: Segmentation
Residential Backup Power Market is segmented as below:
-
Technology
- Generators
- Batteries
- Fuel Cells
-
Geographic Landscape
- APAC
- Europe
- MEA
- North America
- South America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40814
Residential Backup Power Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The residential backup power market report covers the following areas:
- Residential Backup Power Market Size
- Residential Backup Power Market Trends
- Residential Backup Power Market Industry Analysis
This study identifies the increase in hybrid power systems as one of the prime reasons driving the Residential Backup Power Market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Technavio’s SUBSCRIPTION platform
Residential Backup Power Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist residential backup power market growth during the next five years
- Estimation of the residential backup power market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the residential backup power market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of residential backup power market vendors
Table of Contents:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- 2.1 Preface
- 2.2 Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY TECHNOLOGY
- Market segmentation by technology
- Comparison by technology
- Generators – Market size and forecast 2019-2024
- Batteries – Market size and forecast 2019-2024
- Fuel cells – Market size and forecast 2019-2024
- Market opportunity by technology
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Rising adoption of fuel cells for power backup
- Increase in hybrid power systems
- Development of smart cities
PART 12: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- ABB Ltd.
- Caterpillar Inc.
- Cummins Inc.
- Exide Industries Ltd.
- Kohler Co.
- Panasonic Corp.
- Schneider Electric SE
- Tesla Inc.
- Toshiba Corp.
- Trojan Battery Co. LLC
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
