UPS Market Scenario Highlighting Major Drivers and Growth Forecast by 2027

Allied Market Research published a report, titled, "Uninterrupted Power Supply System Market by Type, Rating, and End User: Opportunity Analysis and Industry Forecast, 2020-2027." According to the report, the global UPS system industry generated $7.4 billion in 2019, and is expected to garner $9.4 billion by 2027, witnessing a CAGR of 4.3% from 2020 to 2027.

The proliferating market demand of uninterrupted power supply (UPS) system as a reliable power supply is expected to drive the market growth. Furthermore, increase in number of data centers and decrease in battery prices are anticipated to potentially contribute toward the overall market growth. In addition, increase in population and surge in demand for power backup solutions are the other factors influencing the market growth in residential end-user segment.

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Based on type, the online segment accounted for the highest market share in terms of revenue, contributing to around two-fifths of the global uninterrupted power supply system market in 2019, and will maintain its leadership status during the forecast period. This is due to the dual conversion design of online UPS systems that isolates the load during irregularities in main power supply. However, the line-interactive segment is projected to witness the highest CAGR of 5.3% from 2020 to 2027. This is attributed to wide scope of application of line interactive UPS system in small businesses and departmental servers.

Based on end-user, the industrial segment accounted for the largest share in 2019, holding around two-fifths of the global uninterrupted power supply system market, and is projected to maintain its highest contribution in terms of revenue by 2027. Moreover, this segment is estimated to manifest the fastest CAGR of 4.9% during the forecast period. This is due to rise in demand for steady power supply in the industrial sector and the need to operate the electrical equipment with the same efficiency under blackouts. The report also analyzes the segments including residential and commercial.

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Based on region, North America contributed to the largest market share in 2019, accounting for more than two-fifths of the global UPS system market, and will maintain its lead position throughout the forecast period. This is due to rise in demand for industrial and commercial UPS systems and sudden blackouts in the U.S. Moreover, Asia-Pacific is projected to portray the largest CAGR of 5.1% from 2020 to 2027, owing to surge in number of industrial booms in emerging economies such as China, India, and Japan.

Major players have adopted product launch, business expansion, and acquisition to sustain the intense market competition. The key players profiled in the report include Schneider Electric Se, Abb Ltd., Soro Electronics, Luminous power technologies, MICROTEK, Delta Electronics Inc, Emersion Electric Co., and Huawei Technologies Co., Ltd.

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Covid-19 Scenario
• Owing to a shortage of manpower and social distancing norms, the new installation activities of uninterrupted power supply (UPS) system have been postponed. However, implementation of work from home culture and frequent power losses created a huge demand for UPS systems.
• Manufacturing activities have been hindered due to lockdown measures implemented by governments of many countries. There has been a shortage of raw materials as import and export activities have been banned in many countries.
• The distribution, installation, and maintenance activities would get back on track as governments lift-off lockdown restrictions.

Key findings of the study
• Line interactive uninterrupted power supply (UPS) system market is projected to grow at the highest CAGR of approximately 5.3%, in terms of revenue, during the forecast period.
• By End-User, the industrial segment is anticipated to grow with a CAGR of 4.9%, in terms of revenue, during the forecast period.
• The North America dominated the market with around 42% revenue shares in 2019.

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