Residential Backup Power Market- Roadmap for Recovery from COVID-19 | Growing Use of Batteries for Power Back Up to Boost the Market Growth | Technavio

Technavio has been monitoring the residential backup power market and it is poised to grow by USD 1.32 billion during 2020-2024, progressing at a CAGR of about 3% 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.

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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?

• The generators are expected to be the leading segment based on technology in the global market during the forecast period.

• What are the major trends in the market?

• Increase in hybrid power systems is one of the major trends in the market.

• At what rate is the market projected to grow?

• Growing at a CAGR of about 3%, the incremental growth of the market is anticipated to be USD 1.32 billion.

• 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 some of the major market participants.

• What are the key market drivers and challenges?

• Growing use of batteries for power back up is one of the major factors driving the market. However, the drawbacks associated with batteries restraints the market growth.

• How big is the APAC market?

• The APAC region will contribute 54% of 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.

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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

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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 Analysis

This study identifies 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.

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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:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Technology

• Market segments
• 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

Customer landscape

• Customer landscape

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 by geography
• Market drivers – Demand led growth
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption
• Competitive scenario

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• ABB Ltd.
• Caterpillar Inc.
• Cummins Inc.
• Exide Industries Ltd.
• Kohler Co.
• Panasonic Corp.
• Schneider Electric SE
• Tesla Inc.
• Toshiba International Corp.
• Trojan Battery Co. LLC

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

   

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