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Backup Power Systems Market - Growth, Trends, and Forecast (2020 - 2025)

  • ID: 4997551
  • Report
  • March 2020
  • Region: Global
  • 135 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Atlas Copco AB
  • Caterpillar Inc.
  • Eaton Corporation plc
  • Emerson Electric Co.
  • Generac Holdings Inc.
  • General Electric Co.
  • MORE
The global backup power systems market is expected to grow at a CAGR of more than 3.5% over the period of 2020-2025. Factors such as power outages that are prevalent worldwide and increasing demand for standby power sources are expected to be the biggest driver for the backup power systems market. Moreover, rising awareness among customers about the features and benefits of backup power, as well as the best suited equipment combination for personal use, is driving the growth of generator sets and UPS markets, especially in the residential and commercial sectors, is likely to dominate the market. However, with the rapid integration of renewable energy sources and distributed technologies onto the grid, the backup power systems market growth is expected to be hampered in the coming years.
  • Commercial sector is expected to be the largest segment for the backup power systems market, owing to educational and financial institutions, hospitals, data centers, telecommunications, and public and government facilities, among others, which require uninterrupted power supply for their working.
  • The industrial sectors of emerging economies, the residential sector of developed economies, and the increasing need for power in defense operations are expected to create significant opportunities for market participants in the near future.
  • North America is expected to be largest market due to increased power outages in the United States, leading to financial losses and hence driving the demand for backup power systems.
Key Market Trends

Commercial Sector to Dominate the Market
  • Commercial Sector accounted for about 22% of the global consumed electricity in 2018, making it one of the significant segments. Moreover, power outages and unreliable grid electricity lead the customers in the commercial sector to adopt backup power solutions, to perform their business activities at the time of power outages, driving the growth of the market.
  • In many developing countries of Asia-Pacific, the power sector suffers untimely power outages, owing to the insufficient power supply, and poor transmission & distribution network that requires frequent maintenance. Hence, backup power systems demand is increasing in countries such as China and India, which are world’s most populated countries.
  • Therefore, commercial sector is increasingly moving toward power backup sources that can be, rather than being dependent on electricity supply through the national grid.
  • In the United States, commercial sector accounted for approximately 36.32% of the total electricity consumed in 2018. According to EIA, computers and office equipment and refrigeration together accounted for the largest share of electricity consumption in 2018. Despite the presence of a complex electricity grid Infrastructure and 100% electricity access across the country, the problems such as power outages adversely affects the country.
North America to Dominate the Market
  • Electricity is an essential part of the modern life and plays an important role in the North America region’s economy. Electricity is generated at power plants and is delivered through a complex system of substations, transformers, and power lines that connect electricity producers and consumers.
  • Power outages cost an average of about USD 18 billion to USD 33 billion per year in the United States. Backup generators and UPS are considered as the most viable options for making the business operations run continuously without any interruption.
  • Severe weather conditions caused by hurricanes and winter storms in 2017 were the major causes (almost 70% of the US power outages) for the long duration of power interruptions in the United States. Additionally, ageing power grid infrastructure in the country is one of the causes for power outages.
  • Florida, New Hampshire, Maine, Georgia, and Vermont on average had the longest total time interrupted in 2017. The average customer interruption time in these five states ranged from 15 hours in Vermont to 42 hours in Maine.
  • Therefore, power outages from brownouts and blackouts and voltage disturbances can cause significant losses to businesses that are highly dependent on reliable power, hence promulgating the backup power solutions, such as generators and UPS.
Competitive Landscape

The backup power systems market is fragmented. Some of the key players are Caterpillar Inc., Kohler Co., Atlas Copco AB, Generac Holdings Inc., and Eaton Corporation.

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FEATURED COMPANIES

  • Atlas Copco AB
  • Caterpillar Inc.
  • Eaton Corporation plc
  • Emerson Electric Co.
  • Generac Holdings Inc.
  • General Electric Co.
  • MORE
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Trade Statistics (Import/Export Data for AC generators of an output 75 kVA to 375 kVA)
4.4 Recent Trends and Developments
4.5 Government Policies and Regulations
4.6 Market Dynamics
4.6.1 Drivers
4.6.2 Restraints
4.7 Supply Chain Analysis
4.8 Porter's Five Forces Analysis
4.8.1 Bargaining Power of Suppliers
4.8.2 Bargaining Power of Consumers
4.8.3 Threat of New Entrants
4.8.4 Threat of Substitutes Products and Services
4.8.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 Technology
5.1.1 Backup Generator
5.1.2 Uninterrupted Power Supply (UPS)
5.2 End-User
5.2.1 Residential
5.2.2 Commercial
5.2.3 Industrial
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South America
5.3.5 Middle-East and Africa

6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Atlas Copco AB
6.3.2 Briggs & Stratton Corporation
6.3.3 Caterpillar Inc.
6.3.4 Eaton Corporation plc
6.3.5 Emerson Electric Co.
6.3.6 Generac Holdings Inc.
6.3.7 General Electric Co.
6.3.8 Kohler Co.
6.3.9 Mitsubishi Electric Corporation
6.3.10 Schneider Electric SE
6.3.11 Toshiba Corporation

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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  • Atlas Copco AB
  • Briggs & Stratton Corporation
  • Caterpillar Inc.
  • Eaton Corporation plc
  • Emerson Electric Co.
  • Generac Holdings Inc.
  • General Electric Co.
  • Kohler Co.
  • Mitsubishi Electric Corporation
  • Schneider Electric SE
  • Toshiba Corporation
Note: Product cover images may vary from those shown
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