UPS Market size is set to surpass USD 14 billion by 2026, according to a new research report by Global Market Insights Inc.
The UPS market is predicted to gain traction over the coming years owing to increasing adoption of UPS systems for power backup in several applications such as manufacturing, retail, IT & telecom, and healthcare. The deployment of high-quality UPS systems has increased substantially in commercial &residential applications. Markets including as India, China, and Mexico are witnessing a massive industrial boom, resulting in an increased power demand. Frequent power blackouts remain the major issues in these countries, making them potential markets for existing and new industry players.
Power outages and surges act as threats to industrial facilities and businesses as they can disrupt important tasks. Several industrial organizations and manufacturers are susceptible to power supply irregularities. Market players operating in sectors such as food & beverages, automotive, electronics, and healthcare require constant power supply. Power loss for a brief time period results in serious damage to sensitive equipment, materials, and machinery.
High adoption of energy-efficient systems across the globe will boost the UPS market demand
Increasing demand for big data, online services, and cloud computing has compelled companies to construct data centers. The systems are being implemented in data centers for ensuring a continuous supply of power to computing devices such as routers and servers. In these facilities, environment regulations along with increased power consumption are driving the adoption of energy-efficient systems.
In 2018, data centers accounted for around 205 terawatt-hours of electricity consumption globally. The availability of these systems as an energy-saving operating mode provides a 2% reduction in energy consumption and improves the efficiency of the power and cooling systems.
Increasing demand for compact size line-interactive UPS
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Line-interactive UPS segment will have a steady growth through 2026 due to its increased usage in small businesses and colocation data centers. These systems are always connected to the main computer systems, enabling an uninterruptible power supply. UPS systems have a high demand owing to their characteristics in regulating the voltage under varying power supply conditions. The compact size enables UPS to be dominant compared to the 0.5-5 kVA power range systems. Several other advantages of these systems that are responsible for their high market adoption in the market include high reliability, low cost, and energy efficiency.
Browse key industry insights spread across 260 pages with 317 market data tables and 33 figures & charts from the report, “UPS Market Size By Component (Solution [Standby (Offline), Line-Interactive, Online UPS], Services [Managed, Professional]), By Application (BFSI, Data Centers, Healthcare, IT & Telecom, Manufacturing, Media & Entertainment, Residential), By End-Use (SMEs, Large Enterprises), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Power shortage in Asia Pacific countries to drive the industry demand
The Asia Pacific market is expected to witness substantial growth during the forecast timeframe driven by increased demand from commercial & industrial sectors. The booming manufacturing sector in Japan is demanding high-performance equipment as a power back-up and protection against several power quality issues. The rise in the number of manufacturing facilities in China has driven the demand for UPS systems for protecting sophisticated and critical machines & equipment from voltage fluctuations, abrupt power failure, and surges.
The global UPS market is highly competitive with the presence of prominent companies holding a major share. Market players are offering a wide range of products to their customer base. For instance, in April 2019, Vertiv Co. introduced HPL lithium-ion battery cabinets for large-capacity UPS systems.
Industry players include Vertiv Co., Schneider Electric SE, Legrand S.A., Siemens AG, Emerson Electric Co., SolarEdge Solution (Gamatronic), Eaton Corporation, Inc., Huawei Technologies Co., Ltd., Microtek International Pvt. Ltd., Mitsubishi Electric Corporation, Techser Power Solutions Pvt Ltd, Toshiba Corporation, ABB Ltd., and Delta Power Solutions Pvt. Ltd.