Residential Backup Power Market Size, Share & COVID-19 Impact Analysis, By Technology (Generator, Battery, and Fuel Cells), and Regional Forecast, 2022-2029

Methodology:

Fortune Business Insights follows a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country level is derived from the most credible published sources and through interviews with the right stakeholders.

Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.

Secondary data sources that we refer to:

• Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market
• Studies published by credible sources such as government organizations, global organizations (WHO, European Union, OECD, Eurostat, IEA, BP statistics etc.), relevant associations, ResearchGate, OGJ, WMC, EuroWind, etc.
• Website, reports and press releases of key market players – Manufacturers, raw material suppliers, and end users
• Industry journals and paid databases

SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:

• Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
• Details in relation to product type, application, distribution channel, business strategies, etc.
• Estimating demand of end user by region/country and average annual spending on procuring different product type and services
• Replacement demand and aftermarket services
• Market dynamics in relation market under focus – Drivers, restraints, trends and opportunities
• Market & technological trends, new product developments, product pipeline, etc.

INTERVIEWS ARE CONDUCTED WITH:

• Key stakeholders such as purchase managers, freelancers, journal writers, paid consultants across all end use industries such as oil & gas, power, renewables, mining, minerals, marine, etc.
• Key stakeholders such as C-level executives, marketing managers, product managers, sales managers, etc. operating in the market from each category such as manufacturers, raw material suppliers, third party distributors, etc.
• Key opinion leaders in various relevant associations

INTERVIEWS ARE CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:

• Insights from supply side respondents in relation to market size, growth rate, market distribution, market dynamics and market share analysis
• Validation of the market size, growth rate and market distribution estimated on the basis of market models
• Insights from end user respondents to assess buyer pattern and buying preference such as brand value, trade channel, customized product offerings, after sales service, average pricing, etc.