Key vendors to focus on innovating and enhancing their technologies.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global backup power market in their latest research report. This report also lists 25 other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The global market for backup power is highly fragmented due to the presence of several vendors operating in the market space. Numerous small- and medium-sized enterprises, as well as large players offer a variety of products in the global market to cater to the rising demand for backup power. The competition in the market is projected to intensify with the introduction of new technologies and increased investments. In several developing and underdeveloped countries, local or regional vendors dominate the market.
According to Thanikachalam Chandrasekaran, a lead analyst at Technavio for research on energy storage, “The market is projected to grow in tandem with the rise in the need for continuous power. Therefore, vendors are likely to innovate and enhance their technologies to meet the demand, further intensifying the market competition.”
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Top five vendors in the backup power market space
Aggreko
Aggreko offers temporary power and temperature control solutions worldwide. Its equipment includes silent gas and diesel generators, air conditioners, chillers, heaters, dehumidifiers, load banks, and cooling towers for both planned and emergency projects. The company has its end-users in the mining, agriculture, oil and gas, petrochemicals, refineries, construction and contracting, manufacturing, food and beverage, and shipping industries.
Key products: Diesel generators and Gas power generators.
Bloom Energy
Bloom Energy provides on-site power generation systems that provide clean and cost-effective power from different traditional and renewable fuels. The company’s power generation system is called Bloom Energy Server, which is based on proprietary fuel cell technology. The company serves various high-profile businesses from different sectors, such as retail and logistics, manufacturing, banking and financial services, technology, food and beverages, data centers, biotechnology and healthcare, government and military, entertainment, and utilities.
Key products: ES-5, ES-5710, ES-5700, UPM-571, and UPM-570.
Caterpillar
Caterpillar engages in the manufacture and sales of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Its financial product segment offers retail and wholesale financing for Caterpillar equipment, machinery, and engines; offers property, casualty, life, accident, and health insurance; and provides insurance brokerage services.
Key products: HOLT CAT and Cat C175-16.
Cummins
Cummins engages in the design and manufacture of power generation equipment. It offers commercial industrial diesel, residential natural gas and propane generators, light commercial diesel generators, commercial mobile diesel generators, marine diesel generators, rental diesel generators, and high horsepower commercial generator sets.
Key products: Standby power, Commercial mobile, High horsepower commercial industrial, Light commercial, and Recreational Vehicles.
LG Chem
LG Chem manufactures, supplies, and exports petrochemical goods, information and electronic materials, batteries, and related products and solutions. Some subsidiaries of the company include LG Chem HK, LG Polymers India, Ningbo Zhenhai LG Yongxing Trading, and Tianjin LG BOTIAN Chemical.
Key products: RESU6.4EX Main Pack, R800-UPB4860 Gen2, UPB4850, and M4860P2S.
A more detailed analysis is available in the Technavio report, Global Backup Power Market 2017-2021. Technavio also customizes reports by other regions and specific segments upon request.
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