Batteries are adopted as backup power due to the similar functionality as that of traditional generators and do not require refueling. Backup batteries such as Lead-acid batteries and lithium-ion batteries are mainly used for backup. Lead acid batteries are less costly and have a long durability as well as lower maintenance requirement, where Lithium-ion batteries have high energy density, high depth of discharge, high charge rate, long power-holding capacity and long-life cycle.
MARKET DYNAMICS
The increase in disposable income and increasing use of batteries as backup power as well as increasing emission concerns due to the utilization of traditional power generators are the few factors responsible for growth of the market over the forecast period. Furthermore, the introducing new products and services as well as other strategic alliances by market key player will create a lucrative demand for this market. Moreover, supportive governments incentives to bring down the initial costs of the backup power systems, will create lucrative demand of global backup power for oil and gas market during the forecast period.
MARKET SCOPE
The "Global Backup Power Systems for Oil and Gas Market Analysis to 2028" is a specialized and in-depth study of the backup power systems for oil and gas market with a special focus on the global market trend analysis. The report aims to provide an overview of the backup power systems for oil and gas market with detailed market segmentation by product type and geography. The global backup power systems for oil and gas' market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading backup power systems for oil and gas market players and offers key trends and opportunities in the backup power systems for oil and gas' market.
MARKET SEGMENTATION
The global backup power systems for oil and gas market is segmented based on by product type. Based on its product type, backup power systems for oil and gas' market can be segmented into batteries and generators.
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IMPACT OF COVID-19 ON BACKUP POWER SYSTEMS FOR OIL AND GAS MARKET
The COVID-19 pandemic is influencing the sales and operation of backup power systems such as UPS manufacturers. These players have closed their manufacturing facilities. Market participants around the world faced supply chain disruptions as exports from countries in the Asia-Pacific region were banned. Factors such as global power outages and increasing demand for standby power are expected to be a major driver of the backup power system market. However, the rapid introduction of renewable energy sources and distributed technologies to the grid is expected to impede market growth for emergency power systems during the forecast period.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global Backup Power Systems for Oil and Gas Market based on various segments. It also provides market size and forecast estimates from year 2017 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The Backup Power Systems for Oil and Gas Market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting Backup Power Systems for Oil and Gas Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the backup power systems for oil and gas market in these regions.
MARKET PLAYERS
The reports cover key developments in the backup power systems for oil and gas market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from backup power systems for oil and gas market are anticipated to lucrative growth opportunities in the future with the rising demand for backup power systems for oil and gas market. Below mentioned is the list of few companies engaged in the backup power systems for oil and gas market.
The report also includes the profiles of key backup power systems for oil and gas market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Aggreko
- ALCAD
- Altaaqa Global
- APac Energy Rental
- APR Energy
- Atlas Copco
- Caterpillar
- Cummins
- Saft
- Trojan Battery