Posted 11/27/2023, 3:35:00 AM
Backup Power Market to See Steady Growth of Over 11% Through 2028 on Expanding Natural Gas Infrastructure Despite Renewables Challenge
- Market expected to grow by $4.55 billion from 2023-2028 at a CAGR of 11.22%
- Expanding natural gas pipeline networks driving market growth
- Market is fragmented; key players include Atlas Copco, Caterpillar, Cummins, Generac Holdings
- Major trend is emerging alternative backup power packs
- Significant challenge is the growing renewable energy sector