UPS Market - By Component (Solution, Services), By End-use (SMEs, Large Enterprise), By Application (BFSI, Data Centers, Healthcare, IT & Telecom, Manufacturing, Media & Entertainment, Residential) & Global Forecast, 2023-2032

UPS Market Size

UPS Market size value surpassed USD 10 billion in 2022 and is anticipated to observe over 5% CAGR from 2023 to 2032. The surging emergence of green and energy-efficient UPS solutions globally is among the leading factors driving the demand for uninterruptible power supply.
 

The rapid deployment of data centers due to massive data storage requirements and the increasing use of digital services has escalated the need to introduce efficient power supply solutions. UPS systems are used in data centers to ensure continuous power supply to computing devices such as routers and servers, which, in consequence, will favor the adoption of UPS systems. Besides, the remarkable growth in power consumption worldwide and stringent environmental regulations pertaining to using renewable energy sources will strengthen the UPS market outlook through 2032.
 

Additionally, the consistent rise in the usage of cloud technologies across developed regions, such as North America and Europe, may further contribute to market expansion. As organizations have begun capitalizing on IoT, cloud computing, and mobile applications, requiring computing power at the network edge, the need for micro & edge data centers is pivotal. This apart, the accelerating technological developments in UPS systems, such as enhanced efficiency, improved connectivity, and reduced footprint, will propel market revenues over the next ten years.
 

General UPS systems are composed of batteries and an inverter that use an Insulated-Gate Bipolar Transistor (IGBT). Therefore, the ongoing chip shortage and the sluggish growth of the semiconductor industry may hamper business operations in the years ahead. However, the introduction of Wide Bandgap (WBG) semiconductors, such as Silicon Carbide (SiC), into UPSs has helped industries enhance power quality, reduce the size, and maximize efficiency, which will stimulate product demand over 2023-2032.
 

UPS Market Analysis

With respect to the solution, the uninterruptible power supply (UPS) market size from the online UPS segment is estimated to be worth over USD 10 billion by 2032. Online UPS is suitable for industries where electrical isolation is necessary for equipment sensitive to power fluctuations. These systems control the output voltage and frequency regardless of the input voltage & frequency, maintaining the system's productivity. Such benefits have resulted in their increased adoption among telecom, healthcare, and data center operators to ensure the protection of the equipment, thus, accentuating segment gains.
 

Based on services, the Managed Services Market share garnered a valuation of over USD 1.4 billion in 2022 and is poised to exhibit a decent CAGR between 2023 and 2032. Managed services include maintenance & installation services that offer maximum reliability by taking proactive steps to minimize unscheduled equipment downtime and other avoidable failures. Such steps aid in reducing the chances of failure during power outages and energy consumption levels and extend the equipment's lifetime. These attributes will favor the adoption of these services, which,  will streamline industry progression in the long run.
 

Regarding application, the UPS market share from data centers segment is anticipated to amass gains worth over USD 3.5 billion by 2032. The demand for UPS solutions in large-scale data centers will witness high growth due to the accelerating adoption of cloud-based services and high-speed broadband connections, leading to the modernization and construction of new data centers. Additionally, increasing power fluctuations and outages in data centers will drive the demand for efficient UPS to ensure the continuous supply of emergency power to equipment, depicting favorable UPS market growth scenarios.
 

Considering the end-user, large enterprises segment size is expected to be valued at over USD 9.5 billion by 2032, attributed to the rapid expansion of IT facilities in different industry verticals. Increasing investments by large enterprises to expand their presence globally are fueling the demand for UPS. Cloud providers such as Amazon and Google have announced plans to invest in hyperscale data centers, mainly in the U.S., the UK, Germany, Japan, Australia, Singapore, the UAE, and Saudi Arabia, due to the increased cloud adoption in these countries, thus driving product demand.
 

North America UPS market is slated to cross USD 8.5 billion by 2032. The escalating rollouts of government initiatives and the adoption of emerging technologies will drive the UPS market in the region. The Federal Energy Management Program (FEMP) promotes the usage of energy-efficient products to reduce cost and environmental impacts. With the increasing government efforts toward the utilization of energy-efficient technologies, businesses are replacing their conventional systems with modern technologies that will have lesser environmental impacts and improve market performance.
 

UPS Market Share

Major companies operating in the UPS market are :

• Schneider Electric SE
• Emerson Electric Co.
• Eaton Corporation
• ABB Ltd.
• Vertiv Co.
• Mitsubishi Electric Corporation.

These players are focusing on strategic initiatives to enhance business capabilities.
 

To that end, in March 2022, Vertiv Holdings Co introduced a Lithium-Ion double-conversion UPS system, Liebert GXT5. The product is made available in different sizes, including 1kVA to 3kVA, with a 1U lithium-ion external battery cabinet. The move will help the company expand its product portfolio and gain a strong foothold in the market.
 

The UPS market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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By Component

• Solution 
  • Standby (Offline)
  • Line-interactive
  • Online UPS
• Services 
  • Professional
  • Managed

By Application

• BFSI
• Data Centers
• Healthcare
• IT & Telecom
• Manufacturing
• Media & Entertainment
• Residential
• Others

By End-Use

• SMEs
• Large Enterprise

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Poland
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Singapore
  • Australia
• South America
  • Brazil
  • Argentina
  • Chile
  • Colombia
• MEA
  • UAE
  • Saudi Arabia
  • South Africa