The Global Market for UPS Systems is Projected to Reach US$15 Billion by 2024
Ability of UPS to Provide
Continuous Power in Critical Applications and End-Use Segments Drive the Market
for Uninterruptible Power Supply (UPS) Systems, According to a New Report by Global Industry Analysts,
Inc.
GIA
launches comprehensive analysis of industry trends, growth drivers, market
share, size and demand forecasts on the global Uninterruptible Power Supply
(UPS) Systems market. The global market for UPS
Systems is projected to reach US$15 billion by 2024, driven by its critical
importance of neutralizing power supply disturbances in modern data center,
networking environment of enterprise IT, industrial entities, hospitals, and
telecom sectors.
Uninterruptible
Power Supply (UPS) System, an electrical gadget combining electronic power
converters, switches and power storage devices such as batteries, maintains the
continuity of power supply to a load during input power failures while also
functioning as a power conditioning tool protecting the equipment against power
surges, spikes, sags, brownouts etc. The negative impact of power supply
disturbances/outages is clearly manifested in mission critical facilities such
as datacenters, telecom backbone infrastructure, hospitals, power grids,
military units, and process manufacturing facilities among others. In addition to ensuring continuous running of critical
machinery, the UPS or emergency backup power systems aids in preventing data
loss and reducing downtime. Demand for highly efficient UPS is rising, thanks
to the need to comply with stringent emission related regulations, and the
benefits that can be obtained with the use of energy efficient equipment.
Further, increasing energy costs are also fueling demand for such systems. With the rise of smart connected homes, the importance of UPS
systems is also growing in residential homes.
UPS systems leverage various
technologies to function and are impacted by several trends in the market.
Artificial intelligence, development of better battery chemistries, and
modularity are vital innovations for ensuring UPS systems remain relevant in
the future. The
market is also benefiting from the wider proliferation of technologically
advanced UPS models integrated with superior features enhancing the
adaptability, availability, manageability, serviceability and safety of the
system. Demand for modular UPS system is
on the rise in government, corporate, education and healthcare sectors, among
others. With increased virtualization, data centers have become widespread and
critical, resulting in greater demand for UPS systems. The
Green
UPS is the new emerging concept, which emphasizes on
integrating the ‘eco-friendly’ feature into UPS design and functioning.
Basically designed to consume less power per unit as compared to conventional
UPS, the Green UPS can typically lower the operational and maintenance costs,
much to the benefit of customers. A key issue hampering the market prospects
for the UPS vendors is the prevalence of large number of players in the
unorganized sector, who enjoy sizeable share, especially in the price-sensitive
markets of Asia-Pacific, Latin America and Eastern Europe. Fluctuating raw
material prices constitute another major limitation that impacts profitability
of the UPS vendors, and subsequently affects the overall UPS industry.
As
stated by the new market research report on Uninterruptible Power Supply
(UPS) Systems,
Asia-Pacific represents the largest and the fastest growing market with a CAGR
of 6.9% over the analysis period. Growth
in the Asia-Pacific market is driven by technological developments and
improving economic growth in countries such as India and China. Rising need for
additional power supply and availability of cost efficient systems are also
fueling market growth in the region. UPS less than 5 kVA represents the largest product market,
while, above 500 kVA UPS constitutes the fastest growing segment.
Major
players in the market include ABB Ltd., Consul Neowatt Power Solutions Pvt.
Ltd., CyberPower Systems, Inc., Delta Electronics, Inc., East Group Co., Ltd.,
Eaton Corporation Plc, Emerson Electric Co., Fuji Electric Co., Ltd., General
Electric Company, Huawei Technologies Co. Ltd., Legrand, Numeric Power Systems
Ltd., Piller Group GmbH, RPS Spa, Schneider Electric, APC, Shenzhen KSTAR
Science and Technology Co., Ltd., Socomec Group, Toshiba International Corp.,
Tripp Lite, and Xiamen Kehua Hengsheng Co., Ltd., among others.
The
research report titled “Uninterruptible Power Supply
(UPS) Systems: A Global Strategic Business Report” announced by Global
Industry Analysts Inc., provides a comprehensive
review of market trends, issues, drivers, mergers, acquisitions and other
strategic industry activities of global companies. The report provides market
estimates and projections for all major geographic markets such as the US,
Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of
Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America
(Brazil and Rest of Latin America) and Rest of World. The report also analyzes
the UPS systems revenues by the Product Segments - Upto 5 kVA, 5.1 to 20 kVA,
20.1 to 50 kVA, 50.1 to 100 kVA, 100.1 to 200 kVA, 200.1 to 500 kVA and Above
500 kVA.
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