BACKUP POWER MARKET ANALYSIS

Market News

Recent Developments

New product launches

• Tesla Powerwall (2021): Tesla, a leading electric vehicle and energy storage company, launched Powerwall in 2021. Powerwall is a residential energy storage solution that can be used as a backup power source during grid outages. It integrates with solar panels and stores excess energy for use when needed, providing homeowners with a reliable backup power option.
• Generac PWRcell (2020): Generac, a prominent manufacturer of backup power systems, introduced PWRcell energy storage system in 2020. PWRcell is designed to integrate with solar panels and can provide backup power during grid failures. It utilizes lithium-ion battery technology and advanced monitoring capabilities to optimize energy usage and improve overall energy resilience.

Acquisition and partnerships in Backup Power Market

• Schneider Electric Acquires ASCO Power Technologies (2021): In 2021, Schneider Electric, a global energy management and automation company, completed the acquisition of ASCO Power Technologies. ASCO Power Technologies is a leading provider of critical power solutions, including automatic transfer switches, power control systems, and surge protection devices. This acquisition strengthened Schneider Electric's portfolio in the backup power market and expanded its capabilities in power distribution and management.
• Generac Acquires Pika Energy (2020): Generac, a prominent manufacturer of backup power systems, acquired Pika Energy, a company specializing in advanced energy storage and power electronics solutions. The acquisition enabled Generac to enhance its energy storage offerings and accelerate the development of integrated backup power solutions that combine solar, storage, and backup power capabilities.