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US Backup Power Market Research Report by Type (Gas Generators, Solar Generators, and Others), by Application (Standby Power, Prime Power, and Peak Shaving), by End User (Residential, Commercial, Industrial, Utilities, and Others) Forecast to 2032
Market Report I 2024-12-15 I 101 Pages I Market Research Future
US Backup Power Market Research Report by Type (Gas Generators, Solar Generators, and Others), by Application (Standby Power, Prime Power, and Peak Shaving), by End User (Residential, Commercial, Industrial, Utilities, and Others) Forecast to 2032
Market Overview
The backup power market is driven by several key factors that contribute to its growth and importance across various sectors. Increasingly frequent and severe weather events, driven by climate change, have highlighted the need for reliable backup power solutions to ensure continuity during power outages. The rise in remote work and digital dependency has made uninterrupted power supply critical for both residential and commercial users.
Backup power systems offer numerous advantages and find applications across a wide range of sectors. One of the primary benefits is ensuring uninterrupted power supply during outages, which is crucial for maintaining the operation of critical infrastructure and services. This reliability is particularly important for healthcare facilities, where continuous power is essential for life-saving equipment and patient care. In the industrial sector, backup power prevents costly downtimes and production losses, ensuring that manufacturing processes can continue smoothly.
Challenges such as High maintenance & fuel costs and Market Competition & Saturation may hinder the growth of the market.
Backup power refers to systems and technologies designed to provide electrical power to critical systems and devices during interruptions or outages in the main power supply. These systems ensure continuity of operations, protecting against data loss, equipment damage, and operational downtime. Backup power solutions are essential in various sectors, including healthcare, data centers, telecommunications, industrial operations, and residential use.
Market Segment Insight
By Type Diesel Generators the US Backup Power Market is classified into Gas Generators, Solar Generators, and Others.
Based on Application the US Backup Power Market is segmented into Standby Power, Prime Power, and Peak Shaving
By End User the market is categorized into Residential, Commercial, Industrial, Utilities, and Others
Major Players
The key players in the US Backup Power Market include Cummins Inc., Kohler Co., MTU Onsite Energy, Vertiv, Tesla, Emerson Electric Co., Schneider Electric, MITSUBISHI ELECTRIC CORPORATION, Eaton Corporation plc, and Honeywell Internation Inc.
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY 13
2 MARKET INTRODUCTION 16
2.1 DEFINITION 16
2.2 SCOPE OF THE STUDY 16
2.3 RESEARCH OBJECTIVE 16
2.4 MARKET STRUCTURE 17
3 RESEARCH METHODOLOGY 18
3.1 OVERVIEW 18
3.2 DATA FLOW 20
3.2.1 Data Agriculture Process 20
3.3 PURCHASED DATABASE: 21
3.4 SECONDARY SOURCES: 22
3.4.1 Secondary Research data flow: 23
3.5 PRIMARY RESEARCH: 24
3.5.1 Primary Research DATA FLOW: 25
3.6 APPROACHES FOR MARKET SIZE ESTIMATION: 26
3.6.1 trade Analysis Approach 26
3.7 DATA FORECASTING 26
3.7.1 Data forecasting Technique 27
3.8 DATA MODELING 28
3.8.1 microeconomic factor analysis: 28
3.8.2 Data modeling: 29
3.9 TEAMS AND ANALYST CONTRIBUTION 31
4 MARKET DYNAMICS 33
4.1 INTRODUCTION 33
4.2 DRIVERS 33
4.2.1 Increasing demand for Power in United States of America 33
4.2.2 Increasing Power Outages 34
4.3 CHALLENGES 35
4.3.1 High maintenance and fuel costs 35
4.4 OPPORTUNITY 36
4.4.1 Increasing demand of Fuel Cells for Backup Power 36
4.4.2 Growing need of Backup Power in Telecommunications industry and data centers 36
4.5 REGULATORY UPDATE 38
4.5.1 IEEC 62040-3 38
4.5.2 ECPA 38
4.6 COVID-19 IMPACT ANALYSIS 39
4.6.1 Impact on supply chain of Backup Power 39
4.6.2 Impact on market demad for backup power 39
5 MARKET FACTOR ANALYSIS 40
5.1 SUPPLY CHAIN ANALYSIS 40
5.1.1 Design and Development 40
5.1.2 Raw Material/Component Supply 40
5.1.3 Backup Power Manufacture/Assembly 40
5.1.4 sales and distribution 41
5.1.5 End Use 41
5.2 PORTER'S FIVE FORCES MODEL 42
5.2.1 THREAT OF NEW ENTRANTS 42
5.2.2 BARGAINING POWER OF SUPPLIERS 43
5.2.3 BARGAINING POWER OF BUYERS 43
5.2.4 THREAT OF SUBSTITUTES 43
5.2.5 Intensity of RIVALRY 43
6 US BACKUP POWER MARKET, BY TYPE 45
6.1 INTRODUCTION 45
7 US BACKUP POWER MARKET, BY APPLICATION 47
7.1 INTRODUCTION 47
8 US BACKUP POWER MARKET, BY END USER 48
8.1 INTRODUCTION 48
9 COMPETITIVE LANDSCAPE 50
9.1 INTRODUCTION 50
9.2 COMPETITION DASHBOARD 50
9.3 COMPANY MARKET SHARE ANALYSIS, 2023 (%) 51
9.4 WHO ARE THE MARKET DISRUPTORS & INNOVATORS? 51
9.5 WHAT STRATEGIES ARE BEING ADOPTED BY MARKET LEADERS? 52
9.6 COMPETITIVE BENCHMARKING 53
9.7 LEADING PLAYERS IN TERMS OF THE NUMBER OF DEVELOPMENTS IN THE BACKUP POWER MARKET 54
9.8 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL, 2023 54
9.9 KEY DEVELOPMENTS & GROWTH STRATEGIES 55
9.9.1 New Product Launch 55
9.9.2 Capacity Expansion 56
9.9.3 Agreement/ Acquisition 56
9.9.4 Investment 58
10 COMPANY PROFILES 59
10.1 CUMMINS INC. 59
10.1.1 COMPANY OVERVIEW 59
10.1.2 FINANCIAL OVERVIEW 60
10.1.3 PRODUCTS OFFERed 60
10.1.4 KEY DEVELOPMENTS 61
10.1.5 SWOT ANALYSIS 62
10.1.6 Key Strategy 62
10.2 KOHLER CO. 63
10.2.1 COMPANY OVERVIEW 63
10.2.2 FINANCIAL OVERVIEW 63
10.2.3 PRODUCTS OFFERed 63
10.2.4 KEY DEVELOPMENTS 64
10.2.5 SWOT ANALYSIS 65
10.2.6 Key Strategy 65
10.3 MTU ONSITE ENERGY 66
10.3.1 COMPANY OVERVIEW 66
10.3.2 FINANCIAL OVERVIEW 67
10.3.3 PRODUCTS OFFERed 67
10.3.4 KEY DEVELOPMENTS 68
10.3.5 SWOT ANALYSIS 69
10.3.6 Key Strategy 69
10.4 VERTIV 70
10.4.1 COMPANY OVERVIEW 70
10.4.2 FINANCIAL OVERVIEW 71
10.4.3 PRODUCTS OFFERed 71
10.4.4 KEY DEVELOPMENTS 72
10.4.5 SWOT ANALYSIS 73
10.4.6 Key Strategy 73
10.5 TESLA INC. 74
10.5.1 COMPANY OVERVIEW 74
10.5.2 FINANCIAL OVERVIEW 75
10.5.3 PRODUCTS OFFERed 75
10.5.4 KEY DEVELOPMENTS 76
10.5.5 SWOT ANALYSIS 76
10.5.6 Key Strategy 76
10.6 EMERSON ELECTRIC CO. 78
10.6.1 COMPANY OVERVIEW 78
10.6.2 FINANCIAL OVERVIEW 79
10.6.3 PRODUCTS OFFERed 79
10.6.4 KEY DEVELOPMENTS 80
10.6.5 SWOT ANALYSIS 81
10.6.6 Key Strategy 82
10.7 SCHNEIDER ELECTRIC 83
10.7.1 COMPANY OVERVIEW 83
10.7.2 FINANCIAL OVERVIEW 83
10.7.3 PRODUCTS OFFERed 84
10.7.4 KEY DEVELOPMENTS 85
10.7.5 SWOT ANALYSIS 85
10.7.6 Key Strategy 86
10.8 MITSUBISHI ELECTRIC CORPORATION 87
10.8.1 COMPANY OVERVIEW 87
10.8.2 FINANCIAL OVERVIEW 88
10.8.3 PRODUCTS OFFERed 88
10.8.4 KEY DEVELOPMENTS 89
10.8.5 SWOT ANALYSIS 89
10.8.6 Key Strategy 90
10.9 EATON CORPORATION PLC 91
10.9.1 COMPANY OVERVIEW 91
10.9.2 FINANCIAL OVERVIEW 91
10.9.3 PRODUCTS OFFERed 92
10.9.4 KEY DEVELOPMENTS 93
10.9.5 SWOT ANALYSIS 94
10.9.6 Key Strategy 94
10.10 HONEYWELL INTERNATIONAL INC 95
10.10.1 COMPANY OVERVIEW 95
10.10.2 FINANCIAL OVERVIEW 95
10.10.3 PRODUCTS OFFERed 96
10.10.4 KEY DEVELOPMENTS 97
10.10.5 SWOT ANALYSIS 98
10.10.6 Key Strategy 99
LIST OF TABLES
TABLE 1 QFD MODELING FOR MARKET SHARE ASSESSMENT 29
TABLE 2 US BACKUP POWER MARKET, BY TYPE, 2018-2032 (USD MILLION) 45
TABLE 3 US BACKUP POWER MARKET, BY APPLICATION, 2018-2032 (USD MILLION) 47
TABLE 4 US BACKUP POWER MARKET, BY END USER, 2018-2032 (USD MILLION) 48
TABLE 5 COMPETITION DASHBOARD: BACKUP POWER MARKET 50
TABLE 6 LEADING PLAYERS IN TERMS OF THE NUMBER OF DEVELOPMENTS IN THE BACKUP POWER MARKET 54
TABLE 7 NEW PRODUCT LAUNCH 55
TABLE 8 CAPACITY EXPANSION 56
TABLE 9 AGREEMENT/ ACQUISITION 56
TABLE 10 INVESTMENT 58
TABLE 11 CUMMINS INC.: PRODUCTS OFFERED 60
TABLE 12 CUMMINS INC.: KEY DEVELOPMENTS 61
TABLE 13 KOHLER CO.: PRODUCTS OFFERED 63
TABLE 14 KOHLER CO.: KEY DEVELOPMENTS 64
TABLE 15 MTU ONSITE ENERGY: PRODUCTS OFFERED 67
TABLE 16 MTU ONSITE ENERGY: KEY DEVELOPMENTS 68
TABLE 17 VERTIV: PRODUCTS OFFERED 71
TABLE 18 VERTIV: KEY DEVELOPMENT 72
TABLE 19 TESLA INC.: PRODUCTS OFFERED 75
TABLE 20 EMERSON ELECTRIC CO.: PRODUCTS OFFERED 79
TABLE 21 EMERSON ELECTRIC CO.: KEY DEVELOPMENTS 80
TABLE 22 SCHNEIDER ELECTRIC: PRODUCTS OFFERED 84
TABLE 23 SCHNEIDER ELECTRIC: KEY DEVELOPMENTS 85
TABLE 24 MITSUBISHI ELECTRIC CORPORATION: PRODUCTS OFFERED 88
TABLE 25 MITSUBISHI ELECTRIC CORPORATION: KEY DEVELOPMENTS 89
TABLE 26 EATON CORPORATION PLC: PRODUCTS OFFERED 92
TABLE 27 EATON CORPORATION PLC: KEY DEVELOPMENTS 93
TABLE 28 HONEYWELL INTERNATIONAL INC: PRODUCTS OFFERED 96
TABLE 29 HONEYWELL INTERNATIONAL INC: KEY DEVELOPMENTS 97
LIST OF FIGURES
FIGURE 1 US BACKUP POWER MARKET: STRUCTURE 17
FIGURE 2 US BACKUP POWER MARKET: MARKET GROWTH FACTOR ANALYSIS (2019-2032) 33
FIGURE 3 DRIVER IMPACT ANALYSIS (2022-2032) 34
FIGURE 4 U.S. DATA CENTER POWER DEMAND 36
FIGURE 5 OPPORTUNITY IMPACT FORECAST 37
FIGURE 6 SUPPLY CHAIN: US BACKUP POWER MARKET 40
FIGURE 7 PORTER'S FIVE FORCES ANALYSIS OF THE US BACKUP POWER MARKET 42
FIGURE 8 US BACKUP POWER MARKET, BY TYPE, 2023 (% SHARE) 46
FIGURE 9 US BACKUP POWER MARKET, BY APPLICATION, 2023 (% SHARE) 47
FIGURE 10 US BACKUP POWER MARKET, BY END USER, 2023 (% SHARE) 49
FIGURE 11 BACKUP POWER MAJOR PLAYERS MARKET SHARE ANALYSIS, 2023 (%) 51
FIGURE 12 BENCHMARKING OF MAJOR COMPETITORS 53
FIGURE 13 COMPARATIVE ANALYSIS: KEY PLAYERS FINANCIAL, 2023 54
FIGURE 14 CUMMINS INC.: FINANCIAL OVERVIEW SNAPSHOT 60
FIGURE 15 CUMMINS INC.: SWOT ANALYSIS 62
FIGURE 16 KOHLER CO.: SWOT ANALYSIS 65
FIGURE 17 MTU ONSITE ENERGY: FINANCIAL OVERVIEW SNAPSHOT 67
FIGURE 18 MTU ONSITE ENERGY: SWOT ANALYSIS 69
FIGURE 19 VERTIV: FINANCIAL OVERVIEW SNAPSHOT 71
FIGURE 20 VERTIV: SWOT ANALYSIS 73
FIGURE 21 TESLA INC.: FINANCIAL OVERVIEW SNAPSHOT 75
FIGURE 22 TESLA INC.: SWOT ANALYSIS 76
FIGURE 23 EMERSON ELECTRIC CO.: FINANCIAL OVERVIEW SNAPSHOT 79
FIGURE 24 EMERSON ELECTRIC CO.: SWOT ANALYSIS 81
FIGURE 25 SCHNEIDER ELECTRIC: FINANCIAL OVERVIEW SNAPSHOT 83
FIGURE 26 SCHNEIDER ELECTRIC: SWOT ANALYSIS 85
FIGURE 27 MITSUBISHI ELECTRIC CORPORATION: FINANCIAL OVERVIEW SNAPSHOT 88
FIGURE 28 MITSUBISHI ELECTRIC CORPORATION: SWOT ANALYSIS 89
FIGURE 29 EATON CORPORATION PLC: FINANCIAL OVERVIEW SNAPSHOT 91
FIGURE 30 EATON CORPORATION PLC: SWOT ANALYSIS 94
FIGURE 31 HONEYWELL INTERNATIONAL INC: FINANCIAL OVERVIEW SNAPSHOT 95
FIGURE 32 HONEYWELL INTERNATIONAL INC: SWOT ANALYSIS 98
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