Uninterruptible Power Supply (UPS) Market Opportunities and Growth analysis 2021
Posted by Akash Sangshetti on February 24th, 2021
According to the latest study conducted by Market Research Future (MRFR), the global market for uninterruptible power supply (UPS) will exhibit an impressive CAGR of 8.3% during the forecast period (2018-2025). Towards the end of the assessment period the market is expected to surpass a valuation of USD 13,154 Mn. UPS is an important power backup system that has gained a healthy momentum in recent years. UPS deployment has extended to several domains including manufacturing, retail, telecommunication, medical and IT.
UPS allows businesses and organisations to run their operations in situations of major power shortage. Availability of high-performance UPS systems that can support large-scale manufacturing facilities is a noteworthy progress in development of reliable power management solutions. Power consumption continues to grow throughout the world and the need for uninterrupted power supply is more than ever-before. Demand for high-quality UPS systems has increased considerable in commercial and residential sectors in recent years. Emerging economies such as China, India and Mexico are witnessing massive industrial boom, which has led to an increase in demand for power. However, inadequate power supply is a major issue in these countries and therefore remain potential markets for UPS. Nonetheless, the maintenance cost remains high for these systems, which somewhat impedes the market’s growth.
Some of the notable players discussed by MRFR in Uninterruptible Power Supply Market report include Socomec, Baykee, Gamatronic, Active Power Inc., HongBao Electric Co. Ltd., S&C Electric Company, Jiangsu EKSI Electrical Manufacturing Co. Ltd., Eaton Corporation, AEG Power Solutions, Zhejiang SANKE Electrical Co. Ltd., Schneider Electric, Beijing Dynamic Power Co. Ltd., PowerMan, Sendon International Ltd., Emerson Electric Co., Xiamen Kehua Hengsheng Co. Ltd., ABB, Guangdong Prostar New Energy Technology Co. Ltd., Guangdong Zhicheng Champion Group Co. Ltd, KSTAR Corporation, EAST Group Co. Ltd., SORO Electronics, Jeidar Electronics, Delta Electronics Inc., Toshiba Corporation, Cyber Power Systems Inc.
Global Uninterruptible Power Supply (UPS) Market – Segmentations
MRFR’s study includes an in-depth segmental assessment of the market based on product type and application. Based on product type, the market has been segmented into off-line/standby, line-interactive and online/double-conversion. The offline/standby segment will continue to outperform the other two segments during the review period. In 2017, the offline/standby segment accounted for more than two-third share of the market and is expected to witness a healthy growth over 2025. Meanwhile, the online/double-conversion segment is expected to capture the highest CAGR during the forecast period. Double-conversion UPS systems are overcoming various power supply challenges that currently exist, which in turn is driving their popularity in various business verticals.
Based on applications, the market has been segmented into data center, telecommunication, medical, industrial, marine and others. The data center segment is expected to retain its leading position over 2025. The segment surpassed a market valuation of USD 1,790 Mn in 2017. The telecommunication segment is expected to hold the second position during the forecast period, with a CAGR of 8.66%.
Global Uninterruptible Power Supply (UPS) Market – Regional Analysis
The market analysis also includes a region-based assessment, which covers North America, South America, Europe, the Middle East & Africa (MEA) and Asia Pacific. The market in North America is expected to remain highly attractive over the next couple of years. In 2017, North America commanded little under 40% share of the market. By the year 2025, the region’s market is expected to surpass a valuation of USD 5,160 Mn. Market players are expected to target Asia Pacific and Europe as they are important business destinations. Asia-Pacific UPS market is expected to grow at USD 3,718.3 million by the end of year 2025, reflecting a CAGR of 11.95%. Europe accounted for 29% market share in 2017 and is estimated to surpass a valuation of USD 3,300 Mn by 2025.
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About the AuthorAkash Sangshetti
Joined: October 1st, 2019
Articles Posted: 322
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