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Backup Power Market

Backup Power Market

Backup Power Market Global Industry Assessment & Forecast

# Pages:

136

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0902

Segments Covered
  • By Product Small power plant, Diesel generator, Battery energy storage equipment, Others
  • By Application Residential, Industrial Manufacturing, Others
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: 64.25 Billion
Revenue 2028Revenue 2028: 90.05 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 4.31
Fastest Growing Region Fastest Growing Region (2022 - 2028) North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

Key Insights

The global Backup Power market was valued at USD 64.25 Billion in 2020 and is projected to reach USD 90.05 Billion by 2028, growing at a CAGR of 4.31% from 2021 to 2028.

Years Parameters
Historical Data (Actual Data) 2016-2020
Base Year Data 2020
Current Year Date 2021
Projected year data 2021-2028
Annual Market Size (2028) 90.05 Billion
Annual Market Size (2021)
CAGR (2021 - 2028) 4.31%

Overview and Description

Backup power is defined as any device that provides instantaneous, uninterruptible power


The global Backup Power market is segmented based on products, applications, regions, and countries. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed based on present and future trends. The research study provides complete assessment of the market on the basis of competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028. 

Yearly Infographics 64.25 Billion 90.05 Billion

COVID-19 Impact Analysis

COVID-19 pandemic led to government of numerous countries across the globe to impose strict lockdown restrictions during the preliminary stages. In 2021, numerous countries faced the adverse effects of the pandemic due to the outbreak of second wave, which also led governments to again impose lockdown measures. Business shutdowns, partial business operations, and travel restrictions have led to challenges in supply chain and in turn production. However, it is expected that reopening of trade activities, the market will witness steady growth in the demand in the coming years. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.


The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Industry Insights

The increasing demand from industrial, residential sectors and emerging economies along with the increasing need for power in defense operations are expected to backup power market in the near future. 

The increasing awareness among consumers about the features and benefits of backup power and introduction of new technologies is further expected to fuel the growth of the market in the years to come. 

The high initial costs is expected to limit the growth of the backup power market in the years to come.

Global Backup Power Market Report Scope

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2020
Historic Years 2016-2020
Forecast Years 2021-2028
Market Size Provided In Terms Of Revenue & Volume
Segments Covered Product, Application
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Countries Covered The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others
Companies Covered Atlas Copco, Aggreko, LG Chem, Ballard Power Systems, Bloom Energy, APR Energy, East Penn Manufacturing, Cummins, AISIN SEIKI, Alpine Power Systems, Briggs & Stratton, Eaton, Caterpillar, Doosan Fuel Cell America
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Global Backup Power Market: Product Segment Analysis

    • Small power plant
    • Diesel generator
    • Battery energy storage equipment
    • Others

Global Backup Power Market: Application Segment Analysis

    • Residential
    • Industrial Manufacturing
    • Others

Regional Analysis: Preview

Based on region, the global Backup Power market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region led the market with the largest share in 2020. Some of the key countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea.

The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global Backup Power market are Atlas Copco, Aggreko, LG Chem, Ballard Power Systems, Bloom Energy, APR Energy, East Penn Manufacturing, Cummins, AISIN SEIKI, Alpine Power Systems, Briggs & Stratton, Eaton, Caterpillar, Doosan Fuel Cell America. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.

Market Size, 2021 (USD Billion)
North America
Europe
Asia Pacific
South America
Middle East Africa

Global Backup Power Market: Regional Analysis

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Key Highlights – Global Backup Power Market

  • Global Backup Power Market is projected to reach USD 90.05 Billion by 2028
  • North America held the highest share of the Backup Power market
  • Small power plant held the largest share of the product segment in the Backup Power market
  • Commercial held the major share of the application segment in the Backup Power market

FAQ
Frequently Asked Question
  • The global Backup Power valued at 64.25 Billion in 2020 and is expected to reach 90.05 Billion in 2028 growing at a CAGR of 4.31%.

  • The prominent players in the market are Atlas Copco, Aggreko, LG Chem, Ballard Power Systems, Bloom Energy, APR Energy, East Penn Manufacturing, Cummins, AISIN SEIKI, Alpine Power Systems, Briggs & Stratton, Eaton, Caterpillar, Doosan Fuel Cell America.

  • The market is project to grow at a CAGR of 4.31% between 2021 and 2028.

  • The driving factors of the Backup Power include

    • The increasing demand from industrial, residential sectors and emerging economies along with the increasing need for power in defense operations are expected to backup power market in the near future.
    • The increasing awareness among consumers about the features and benefits of backup power and introduction of new technologies is further expected to fuel the growth of the market in the years to come.

  • North America was the leading regional segment of the Backup Power in 2020.