analytics_image

Vantage Market Research

Reports - Backup Power Market

iconPower Generation

Backup Power Market

Backup Power Market by Product (Small power plant, Diesel generator, Battery energy storage equipment, Others,) by Application (Residential, Industrial Manufacturing, Others,) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028

Request Sample
ppt iconpdf iconxlsx iconimmediate delivery icon

Industry Leaders Trust Us For Actionable Intelligence

Revenue Insights

Revenue 2024

USD 40.1 Billion

Revenue 2035

USD 76.01 Billion

CAGR Revenue

6.0%

Largest Region

North America

MSA Largest Region

35.8%

Fastest Region

Asia Pacific

Map Revenue

USD 14.35 Billion

Overview

The global


Backup Power Market


is valued at


USD 40.1 Billion in 2022


and is projected to reach a value of


USD 76.01 Billion by 2030


at a CAGR (Compound Annual Growth Rate) of


6.0%


between 2023 and 2030.


Premium Insights


The Backup Power market is driven by several factors wherein climate change is a major driver, as it leads to more frequent and severe extreme weather events, requiring reliable backup power solutions to minimize the impact of power outages on homes and businesses. Aging power infrastructure in developed areas is also a key driver, prompting investments in backup power systems to ensure a steady supply of electricity. The integration of renewable energy sources like solar and wind power presents grid management challenges, necessitating backup power solutions to maintain stability during times of high demand or low supply.

  • Continuous technological advancements that improve the efficiency, reliability, and affordability of backup power solutions play a significant role in the ongoing growth of this market
  • North America generated more than 35.8% of revenue share in 2022
  • Asia Pacific is expected to grow at the quickest rate from 2023 to 2030
  • Diesel generators segment accounted for the largest market growth of 40.5% in 2022
  • Standby power segment accounts for the most significant market share of 42.2% in 2022
  • Commercial segment dominated the market in 2022 with market share of 39.8%


Economic Insights


The Backup Power market is thriving and expanding due to various factors. This includes a rising demand for backup power solutions caused by more frequent extreme weather events and aging power infrastructure. Additionally, strict regulations and government initiatives focusing on business continuity and data protection also contribute to the markets economic dynamics, as businesses allocate resources to meet these standards. The backup power markets economic resilience is further enhanced by technological advancements, stimulating innovation and efficiency in energy storage solutions.


Top Market Trends


  • Increasing demand for reliable power: The growth of the backup power market is being fueled by the rising need for dependable electricity, essential for various applications such as data centers, medical facilities, and critical infrastructure.
  • Advances in battery technology: The efficiency and cost-effectiveness of backup power systems are being improved by technological advancements in battery technology, including the creation of lithium-ion batteries.
  • Growing awareness of the need for disaster preparedness: The market is experiencing further growth due to businesses and organizations investing in backup power systems, which is a response to the increasing awareness of disaster preparedness.
  • Rising adoption of renewable energy sources: The growing popularity of renewable energy sources, like solar and wind power, which frequently have fluctuations, is additionally fueling the need for backup power systems.
  • Increasing demand for microgrids: The increasing backup power market is being fueled by the rising need for microgrids, which are small power grids capable of operating independently from the main power grid.


Market Segmentation


Backup Power {{Segmentation_Ext}}


Based on Type



Diesel generators holds the largest share


Diesel generators plays a crucial role in the Backup Power market, holding the largest share due to their unmatched reliability, cost-effectiveness, versatility, and easy maintenance. They are widely recognized for their strong performance and ability to provide a steady power supply even in challenging conditions, making them essential in critical applications such as data centers, hospitals, and important infrastructure. They are adaptable for various applications, ranging from small portable units to large industrial generators. Moreover, the straightforward maintenance requirements of diesel generators make them a practical choice when regular maintenance may not be feasible.


Based on Product



Standby power accounts for largest market share


The standby power is expected to dominate the Backup Power market due to their affordability and user-friendly nature. Standby power is a backup power option utilized to maintain device functionality during power outages, as well as to power devices like laptops and smartphones that are not consistently in use.


Based on Application



Commercial Held largest market share


In 2022, the commercial sector dominated the Backup Power market, with the largest market share. The increasing demand for uninterrupted power due to businesses' reliance on digital technologies and real-time operations, making them vulnerable to power outages. The significant cost of downtime also motivates businesses to invest heavily in backup power systems. Additionally, ongoing technological advancements improve the efficiency, reliability, and cost-effectiveness of backup power solutions, making them more appealing to businesses seeking reliable energy backup solutions.


Based on Region



North America will lead the market


The Backup Power market in the North America region is set to dominate because of the increase in extreme weather events caused by climate change, such as hurricanes, tornadoes, and wildfires, has led to a growing demand for reliable backup power solutions from both residential and commercial sectors. The rising adoption of distributed energy resources, like solar and wind power, also presents challenges in managing the power grid, making backup power systems essential for integrating these resources and maintaining stability during periods of high demand or low supply. Stricter government regulations regarding power reliability and business continuity in North America are also pushing businesses to invest in backup power solutions for compliance and to protect their operations. Furthermore, advancements in technology have improved the efficiency, reliability, and cost-effectiveness of backup power solutions, making them more accessible and appealing to a wider range of customers.


Competitive Landscape


The Backup Power market is highly competitive, with key players like Generac Power Systems, Eaton Corporation, and Schneider Electric dominating the industry. These established companies offer a wide range of backup power solutions for different sectors, utilizing their extensive product portfolios, global presence, and technological expertise to stay ahead. Tesla and Enphase Energy are emerging players that are making significant advancements in the residential and renewable energy sectors, introducing innovative energy storage solutions. With the growing focus on sustainable and efficient power solutions, competition is fierce, leading companies to invest in research and development to introduce cutting-edge technologies that meet the changing needs of businesses and consumers.

The players in the global Backup Power market include Sonoco Products Company, Cryopak Europe, Pelican BioThermal, Cold & Co, ACH Foam Technologies Inc., Saeplast, AccsA’tech, Insulated Products Corporation, TKT GmbH, Snyder Industries, Envirotainer AB among others.


Recent Market Developments



  • March 2022:


    Mitsubishi Heavy Industries Engine & Turbocharger, Ltd. (MHIET), which is a subsidiary of the Mitsubishi Heavy Industries (MHI) Group, has introduced the MGS-R Series of diesel generator sets. This new series has been designed to meet the increasing demands of the digital economy and is specifically aimed at data centers in Asian and Middle Eastern markets. Additionally, these generator sets can serve as a dependable backup power option for various commercial establishments like shopping malls and office buildings.

  • June 2022:


    The introduction of the iGreen Version 2.0 has brought forth a new range of fuel-efficient power generators by Oil Engines Ltd. With the R550 series engines, these generators offer a combination of compactness, efficient fuel consumption, and excellent power quality.


Segmentation of the Global Backup Power Market


Renewable Power Market size, 2023 to 2032(USD Billion)

overview image
logo

Source: www.vantagemarketresearch.com

Report coverage & Deliverables

Our PDF Reports And Online Dashboard Will Help You Stay Ahead In The Market.

    Key features include:

  • Check
    Competitor Benchmarking
  • Check
    Market Trends Heatmapg
  • Check
    Custom Research Queries
  • Check
    Demographic And Geographic Insights

Market Segmentation

ParameterDetails
Type By Type
  • Diesel generators (40.5%)
  • Gas generators
  • Solar generators
  • Others
Product By Product
  • Standby power (42.2%)
  • Prime power
  • Peak shaving
Application By Application
  • Residential
  • Commercial (39.8%)
  • Industrial
RegionBy Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Historical & Forecast Data

Base Year

2023

Historic Year

2018 - 2022

Forecast Year

2023 - 2032

FAQ‘s

Realted Reports

Healthcare ITHealthcare IT

Veterinary Care Market Size, Share & Trends Analysis Report

John Doe
13 Nov
5 Min Read

This report delivers comprehensive analysis of Veterinary Care Market, focusing on crucial trends, advancement in technology, and the competitive landscape. With an emphasis on..

From $4299

Healthcare ITHealthcare IT

Surgical Imaging Market Size, Share & Trends Analysis Report

John Doe
13 Nov
5 Min Read

This report delivers comprehensive analysis of Surgical Imaging Market, focusing on crucial trends, advancement in technology, and the competitive landscape. With an emphasis on..

From $4299

Healthcare ITHealthcare IT

Healthcare BPO Market Size, Share & Trends Analysis Report

John Doe
13 Nov
5 Min Read

This report delivers comprehensive analysis of Healthcare BPO Market, focusing on crucial trends, advancement in technology, and the competitive landscape. With an emphasis on..

From $4299

Healthcare ITHealthcare IT

Pen Needles Market Size, Share & Trends Analysis Report

John Doe
13 Nov
5 Min Read

This report delivers comprehensive analysis of Pen Needles Market, focusing on crucial trends, advancement in technology, and the competitive...

From $4299

Energy & PowerEnergy & Power

Petroleum Cargo Inspection and Testing Services Market

John Doe
13 Nov
5 Min Read

This report delivers comprehensive analysis of Petroleum Cargo Inspection and Testing Market, focusing on crucial trends, advancement in technology, and the competitive...

From $4299

Energy & PowerEnergy & Power

Petroleum Cargo Inspection and Testing Services Market

John Doe
13 Nov
5 Min Read

This report delivers comprehensive analysis of Petroleum Cargo Inspection and Testing Market, focusing on crucial trends, advancement in technology, and the competitive...

From $4299

vantage logo

Vantage Market Research & Consultancy Services is all about providing accurate and reliable market intelligence to its clients for the seamless execution of their business growth strategies.

© 2025 Vantage Market Research. All right reserved
Secured Bysecured by