The residential backup power market is forecasted to grow by USD 4114.4 mn during 2023-2028, accelerating at a CAGR of 6.66% during the forecast period. The report on the residential backup power market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing demand for backup power from emerging economies, growing use of batteries for backup power source, and rising number of blackouts and unreliable grid power supply.
Technavio's residential backup power market is segmented as below:
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
6.13%
CAGR
6.66%
Incremental Value
$4114.4mn
ByTechnology
Generators
Batteries
Fuel cells
ByGeography
APAC
North America
Europe
Middle East and Africa
South America
This study identifies the rising adoption of fuel cells for power backup as one of the prime reasons driving the residential backup power market growth during the next few years. Also, increasing adoption of hybrid power systems and development of smart cities will lead to sizable demand in the market.
The report on the residential backup power market covers the following areas:
Residential backup power market sizing
Residential backup power market forecast
Residential backup power market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading residential backup power market vendors that include ABB Ltd., Briggs and Stratton LLC, C and D Technologies Inc., Caterpillar Inc., Champion Power Equipment Inc., Cummins Inc., Eaton Corp. Plc, Emerson Electric Co., EnerSys, Exide Industries Ltd., Generac Holdings Inc., Honda Motor Co. Ltd., Huawei Technologies Co. Ltd., Kohler Co., NeoVolta Inc., Panasonic Holdings Corp., Schneider Electric SE, SMA Solar Technology AG, Tesla Inc., and Toshiba Corp.. Also, the residential backup power market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by Technology
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
Parent Market
Data Table on - Parent Market
2.2 Market characteristics
Market characteristics analysis
2.3 Value chain analysis
Value Chain Analysis
3 Market Sizing
3.1 Market definition
Offerings of companies included in the market definition
3.2 Market segment analysis
Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ million)
Data Table on Global - Market size and forecast 2023-2028 ($ million)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 Global Residential Backup Power Market 2018 - 2022
Historic Market Size - Data Table on Global Residential Backup Power Market 2018 - 2022 ($ million)