If you’re looking for a backup generator, you’ve come to the right place. Here, you’ll learn about the latest trends in backup generators and the factors that determine their performance. You’ll also discover the competitive landscape and key players of backup generators Philadelphia PA. Continue reading for more information!
We’ll soon cover the Smart features, cost-effectiveness, and competitive landscape of backup generators. Let’s get started! Until then, check out our previous articles and learn more about the latest trends in backup generators.
1. Smart Features
Innovative features on backup generators are a great way to ensure they are ready for a disaster. A smart generator can be monitored remotely from a central location. An app with compatible generators can allow homeowners to schedule and monitor their backup power anytime.
The system can send warnings and alarms to the homeowner’s email if something goes wrong. The feature also works with traditional backup generators to help them stay connected to the grid.
2. Cost-effectiveness
Many homeowners want to maximize their home’s resilience to power outages. While many still use backup generators, energy storage systems are also gaining popularity. While backup generators are still useful, they can be used only in a limited number of situations.
This article looks at the cost-effectiveness of energy storage systems. The advantages and disadvantages of energy storage systems are discussed. In addition to cost, these systems also provide a way to generate extra income.
While backup power can be expensive, it will provide extra 45 minutes to several hours of service for a typical home or business. The cost can be amortized over ten years. In general, backup generators are cheaper than the kilowatts they provide.
However, backup power can be expensive for some customers due to site issues, space constraints, and noise-attenuating enclosures. Nevertheless, this investment is worth it to help protect your business’s data center.
3. Competitive Landscape
The global Backup Generators market is dominated by the United States, China, and Germany, with each country accounting for a share of approximately % of the market. According to the report, China will account for the most growth in the next six years, with a projected market value of USD million in 2028. Japan and South Korea are also expected to experience significant growth in this industry over the next six years, with each market segment exhibiting unique growth prospects and challenges.
The global market for backup generators was impacted negatively by the COVID-19 pandemic, which shook many industries and affected almost 43% of sales. The impact of the virus influenced both sales and the supply of backup generators due to limited transportation capacity.
In addition, several countries and regions have suffered from severe blockades, affecting backup generators’ sales. However, this pandemic provided new opportunities for development and recovery. The study also looked at how COVID-19 might affect the home backup generators market, with implications for buyers and sellers.
4. Key Players
The global backup generator market is divided into segments according to the end user and industry. The residential segment mainly prefers to choose low-power generators, which can serve as a standby or backup power source.
The residential segment is projected to hold the largest market share, thanks to the growing remote working trend. The report also discusses the key drivers and restraints affecting the market. In addition, the report offers a competitive analysis and detailed information about key market players.
The global Backup Power System market is expected to grow healthy during the forecast period. It is estimated that this market will grow by 14.5% from 2021-2028. According to the International Energy Agency (IEA), worldwide energy consumption increased by 4% in 2018.
In 2017, the industrial segment consumed the highest volume of energy, i.e., 8945 TWh. Rising energy costs will continue negatively impacting the backup generator market in the United States.