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Residential Backup Power Market Will Accelerate at a CAGR of About 3% Through 2020-2024 | Growing Use of Batteries for Power Back Up to Upheave Growth | TechnavioSet to grow by USD 1.32 bn during 2020-2024, Technavio's latest market research report estimates the residential backup power market to register a CAGR of about 3%. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201016005314/en/ Technavio has announced its latest market research report titled Global Residential Backup Power Market 2020-2024 (Graphic: Business Wire) Technavio's in-depth market research reports now include a thorough analysis of the COVID-19 impact on various markets to help industry leaders navigate their business through the new normal. Download Latest Free Sample Report on COVID-19 Analysis 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 (News - Alert) 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 leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Residential Backup Power Market 2020-2024: Segmentation Residential Backup Power Market is segmented as below:
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40814 Residential Backup Power Market 2020-2024: Vendor Analysis and Scope To help businesses improve their market position, the residential backup power market provides a detailed analysis of around 25 vendors operating in the market. Some of these vendors include ABB Ltd., Caterpillar Inc., Cummins Inc., Exide Industries Ltd., Kohler Co., Panasonic Corp., Schneider Electric SE, Tesla Inc., Toshiba (News - Alert) Corp., and Trojan Battery Co. LLC. The report also covers the following areas:
Market trends such as the increase in hybrid power systems are likely to emerge as the primary drivers of the market. However, factors such as the rise in distributed power generation may threaten the growth of the market. Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform Backed with competitive intelligence and benchmarking, our research reports on the residential backup power market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support. Residential Backup Power Market 2020-2024: Key Highlights
Table of Contents: Executive Summary Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Technology
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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