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Uninterrupted Power Supply (UPS) System Market to Discern Magnified Growth during 2020 - 2027
Uninterrupted Power Supply System Market
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The proliferating market demand for an uninterrupted power supply (UPS) system as a reliable power supply is expected to drive market growth. Furthermore, an increase in the number of data centers and a decrease in battery prices are anticipated to potentially contribute toward the overall market growth. In addition, the increase in population and surge in demand for power backup solutions are the other factors influencing the market growth in the residential end-user segment.
Based on type, the Offline uninterrupted power supply (UPS) system garnered a significant market share. This is attributed to the growth in demand for offline UPS systems in residential and small-scale commercial sectors. In addition, these are cost-effective compared to the online UPS system.
Based on the rating, the >200 KVA rating uninterrupted power supply (UPS) system is expected to witness significant market growth. This is attributed to growing applications in commercial and industrial end-user segments for various heavy appliances.
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The industrial uninterrupted power supply segment accounted for a significant market share, owing to the rise in demand in various manufacturing sectors. An uninterrupted power supply (UPS) system is widely used in nuclear power plants or oil rigs as a temporary power backup.
Asia Pacific accounted for a significant revenue share, owing to a large number of industrial booms in emerging economies, such as China, India, and Japan.
Major players have adopted product launches, business expansions, and acquisitions 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.
COVID-19 scenario analysis:
• The global uninterrupted power supply market has a significant impact on Covid-19. Due to work-from norms, the majority of the population is residing at home, which positively affected the market growth.
• In addition, frequent power loss during this pandemic led to increasing demand for uninterrupted power supply (UPS) systems for the residential as well as industrial sectors.
• However, the shortage of regular manpower and social distancing norms delayed the new installation of an uninterrupted power supply (UPS) system.
• In addition, complete lockdown and social distancing norms across different countries delayed cross-border export and import activities. This led to supply chain disruptions in the upstream and downstream channels.
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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.
• North America dominated the market with around 42% revenue shares in 2019.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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