Residential backup power market size to grow by USD 2.39 billion between 2021 and 2026; Growth driven by increasing demand for backup power from emerging economies - Technavio

NEW YORK, March 28, 2023 /PRNewswire/ -- The residential backup power market size is estimated to grow by USD 2.39 billion between 2021 and 2026, progressing at a CAGR of 4.51% during the forecast period, according to Technavio. The market is driven by the increasing demand for backup power from emerging economies. The demand for supplement power is increasing significantly in developing countries such as China, India, Vietnam, and Indonesia. Consumers are exhibiting high demand for backup power systems such as generators and battery backup systems (UPS). The demand is expected to increase considerably during the forecast period with rising disposable incomes, socioeconomic growth, and the availability of easy financing options. All these factors are driving the growth of the global residential backup power market. For more insights on the market size (2022 to 2026) - Request a sample report

Residential Backup Power Market 2022-2026: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our residential backup power market report covers the following areas:

• Residential Backup Power Market Size
• Residential Backup Power Market Trends
• Residential Backup Power Market Analysis

Residential Backup Power Market 2022-2026: Regional Analysis

APAC will account for 55% of the market growth during the forecast period. The region consists of some of the fastest-growing economies in the world such as China, India, Thailand, and Indonesia. The per capita income of these countries has increased significantly over the last decade. This has subsequently increased the demand for electricity and backup power. In addition, the increasing population and expanding residential sector are fueling the growth of the residential backup power market in APAC.

Residential Backup Power Market 2022-2026: Segmentation

The residential backup power market is segmented as below:

• Technology 
• Generators
• Batteries
• Fuel Cells
• Geography 
• APAC
• North America
• Europe
• Middle East and Africa
• South America

The market will witness significant growth in the generators segment during the forecast period. Generators are capable of supplying power as long as there is sufficient fuel. They can provide power for several days after a blackout. The fuel sources for generators mainly include diesel, propane, and gasoline. The easy accessibility of these fuel sources is increasing the adoption of generators. All these benefits are driving the growth of the segment.

Learn more about the additional factors impacting the future of the market across various segments and regions. Download a Sample Report

Residential Backup Power Market 2022-2026: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the residential backup power market. Backed with competitive intelligence and benchmarking, our research report on the residential backup power market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

The global residential backup power market is fragmented due to the presence of a significant number of vendors. The market comprises category-focused, industry-focused, and diversified vendors. The fragmented nature of the market increases the competition among the existing players. However, low parity across the existing players in the market in terms of their size reduces the rivalry. Owing to these factors, the threat of rivalry is expected to be moderate during the forecast period. Some of the key vendors covered in the report include:

• ABB Ltd. - The company offers solutions for residential backup power to ensure protection from power quality events, delivering a clean, continuous power supply for medium-voltage applications using its, HiPerGuard MV UPS.
• Caterpillar Inc. - The company offers solutions for residential backup power that are portable and easy to start and stop with simple, intuitive controls.
• Cummins Inc. - The company offers solutions for residential backup power using generators that have powerful, clean-burning engines that run on natural gas or propane for eco-friendly, efficient performance.
• Exide Industries Ltd. - The company offers solutions for residential backup power which are powered with the next-gen tech of Li-ion and built with a neo-compact look and user-friendly design to complement the modern lifestyle.

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Residential Backup Power Market 2022-2026: Key Highlights

• CAGR of the market during the forecast period 2022-2026
• 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

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Table of contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Technology
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Technology

• 5.1 Market segments
• Exhibit 24: Chart on Technology - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Technology - Market share 2021-2026 (%)

• 5.2 Comparison by Technology
• Exhibit 26: Chart on Comparison by Technology
• Exhibit 27: Data Table on Comparison by Technology

• 5.3 Generators - Market size and forecast 2021-2026
• Exhibit 28: Chart on Generators - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Generators - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Generators - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Generators - Year-over-year growth 2021-2026 (%)

• 5.4 Batteries - Market size and forecast 2021-2026
• Exhibit 32: Chart on Batteries - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Batteries - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Batteries - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Batteries - Year-over-year growth 2021-2026 (%)

• 5.5 Fuel cells - Market size and forecast 2021-2026
• Exhibit 36: Chart on Fuel cells - Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on Fuel cells - Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on Fuel cells - Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Fuel cells - Year-over-year growth 2021-2026 (%)

• 5.6 Market opportunity by Technology
• Exhibit 40: Market opportunity by Technology ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview
• Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation
• Exhibit 42: Chart on Market share by geography 2021-2026 (%)
• Exhibit 43: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison
• Exhibit 44: Chart on Geographic comparison
• Exhibit 45: Data Table on Geographic comparison

• 7.3 APAC - Market size and forecast 2021-2026
• Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.4 North America - Market size and forecast 2021-2026
• Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.5 Europe - Market size and forecast 2021-2026
• Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.6 Middle East and Africa - Market size and forecast 2021-2026
• Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.7 South America - Market size and forecast 2021-2026
• Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.8 China - Market size and forecast 2021-2026
• Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.9 US - Market size and forecast 2021-2026
• Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.10 India - Market size and forecast 2021-2026
• Exhibit 74: Chart on India - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on India - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on India - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on India - Year-over-year growth 2021-2026 (%)

• 7.11 Japan - Market size and forecast 2021-2026
• Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 7.12 Germany - Market size and forecast 2021-2026
• Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography
• Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges
• Exhibit 87: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape
• Exhibit 88: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption
• Exhibit 89: Overview on factors of disruption

• 9.4 Industry risks
• Exhibit 90: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered
• Exhibit 91: Vendors covered

• 10.2 Market positioning of vendors
• Exhibit 92: Matrix on vendor position and classification

• 10.3 ABB Ltd.
• Exhibit 93: ABB Ltd. - Overview
• Exhibit 94: ABB Ltd. - Business segments
• Exhibit 95: ABB Ltd. - Key offerings
• Exhibit 96: ABB Ltd. - Segment focus

• 10.4 Caterpillar Inc.
• Exhibit 97: Caterpillar Inc. - Overview
• Exhibit 98: Caterpillar Inc. - Business segments
• Exhibit 99: Caterpillar Inc. - Key offerings
• Exhibit 100: Caterpillar Inc. - Segment focus

• 10.5 Cummins Inc.
• Exhibit 101: Cummins Inc. - Overview
• Exhibit 102: Cummins Inc. - Business segments
• Exhibit 103: Cummins Inc. - Key offerings
• Exhibit 104: Cummins Inc. - Segment focus

• 10.6 Exide Industries Ltd.
• Exhibit 105: Exide Industries Ltd. - Overview
• Exhibit 106: Exide Industries Ltd. - Business segments
• Exhibit 107: Exide Industries Ltd. - Key offerings
• Exhibit 108: Exide Industries Ltd. - Segment focus

• 10.7 Kohler Co.
• Exhibit 109: Kohler Co. - Overview
• Exhibit 110: Kohler Co. - Product / Service
• Exhibit 111: Kohler Co. - Key news
• Exhibit 112: Kohler Co. - Key offerings

• 10.8 Panasonic Holdings Corp.
• Exhibit 113: Panasonic Holdings Corp. - Overview
• Exhibit 114: Panasonic Holdings Corp. - Business segments
• Exhibit 115: Panasonic Holdings Corp. - Key news
• Exhibit 116: Panasonic Holdings Corp. - Key offerings
• Exhibit 117: Panasonic Holdings Corp. - Segment focus

• 10.9 Schneider Electric SE
• Exhibit 118: Schneider Electric SE - Overview
• Exhibit 119: Schneider Electric SE - Business segments
• Exhibit 120: Schneider Electric SE - Key news
• Exhibit 121: Schneider Electric SE - Key offerings
• Exhibit 122: Schneider Electric SE - Segment focus

• 10.10 Tesla Inc.
• Exhibit 123: Tesla Inc. - Overview
• Exhibit 124: Tesla Inc. - Business segments
• Exhibit 125: Tesla Inc. - Key offerings
• Exhibit 126: Tesla Inc. - Segment focus

• 10.11 Toshiba Corp.
• Exhibit 127: Toshiba Corp. - Overview
• Exhibit 128: Toshiba Corp. - Business segments
• Exhibit 129: Toshiba Corp. - Key news
• Exhibit 130: Toshiba Corp. - Key offerings
• Exhibit 131: Toshiba Corp. - Segment focus

• 10.12 Trojan Battery Co. LLC
• Exhibit 132: Trojan Battery Co. LLC - Overview
• Exhibit 133: Trojan Battery Co. LLC - Product / Service
• Exhibit 134: Trojan Battery Co. LLC - Key offerings

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist
• Exhibit 135: Inclusions checklist
• Exhibit 136: Exclusions checklist

• 11.3 Currency conversion rates for US$
• Exhibit 137: Currency conversion rates for US$

• 11.4 Research methodology
• Exhibit 138: Research methodology
• Exhibit 139: Validation techniques employed for market sizing
• Exhibit 140: Information sources

• 11.5 List of abbreviations
• Exhibit 141: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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