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Home>Top 5 Vendors in the Global Backup Power Systems Market for Oil and Gas Industry: Technavio

Top 5 Vendors in the Global Backup Power Systems Market for Oil and Gas Industry: Technavio

Top 5 Vendors in the Global Backup Power Systems Market for Oil and Gas Industry: Technavio

09/26/2017

Top 5 Vendors in the Global Backup Power Systems Market for Oil and Gas Industry: Technavio

Technavio has announced the top five leading vendors in their recent global backup power systems market for the oil and gas industry 2017-2021 report. This market research report also lists 19 other prominent vendors that are expected to impact the market during the forecast period.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170926005865/en/

Technavio has published a new report on the global backup power systems market for oil and gas indus ...

Technavio has published a new report on the global backup power systems market for oil and gas industry from 2017-2021. (Photo: Business Wire)

Competitive vendor landscape

According to the research analysis, the global backup power systems market for the oil and gas industry is highly fragmented with the presence of numerous vendors worldwide, offering a wide variety of products. The backup power systems market is marked by numerous international and local vendors, supplying backup power solutions to various industries including oil and gas. The products are non-differentiated, and with a horde of vendors, the switching costs are low. The oil and gas industry requires a continuous and reliable supply of power. The backup power systems for the oil and gas industry are designed with the intent to ensure continuous supply of power in the event of a power outage.

“With the rise in refinery greenfield and brownfield projects, the backup power requirements are likely to go up. Environmental reforms and stringent emission regulations to reduce emissions have led to a new technology being developed where generators produce increased power output while consuming less fuel. A recent trend has been the shift to gas-powered generators. The use of gas for generators produces cleaner power with reduced emissions than diesel generators,” says Thanikachalam Chandrasekaran, a lead oil and gas research analyst from Technavio.

The report also states that gas generators find huge applications in the oil and gas industry due to the high availability of natural gas as a fuel at drilling locations, especially in the upstream sector, in remote onshore fields as well as offshore fields, where main grid connectivity is not possible, gas generators are the ideal source for power generation.

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