UPS Battery Market Future Growth, COVID19 Impact, manufacturers, Demands and Revenue Report scrutinized in the new analysis

The global UPS Battery Market was valued at US$ 695.6 million in 2020 and is projected to reach US$ 1,475.7 million by 2028; it is expected to grow at a CAGR of 10.6% from 2021 to 2028.

The battery is one of a crucial component of an uninterruptible power supply (UPS). The UPS battery is accountable for long life span and good performance of UPS. Thus, regular maintenance of battery is must. Lithium-ion (Li-ion), Lead-acid, and nickel cadium are the major types of UPS batteries available for community of end users including from the commercial to industrial sectors. With the growing number of large data centers in corporate sector, electrical appliances and gadgets such as computers, critical infrastructure, or industrial processes, the adoption of UPS is booming, which is further stimulating the scope of UPS batteries.

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Analysis of the Top Market Players:

1. CSB Battery Co., Ltd.
2. East Penn Manufacturing Company
3. Eaton Corporation plc
4. Exide Industries Limited
5. FIAMM Energy Technology S.p.A
6. GS Yuasa International Ltd.
7. leoch International Technology Limited Inc.
8. NorthStar Group Services, Inc.
9. Schneider Electric SE
10. Vertiv Group Corporation

In this report, the market has been segmented on the basis of:

Product Type (Lead-Acid, Lithium-Ion, and Other Product Types)
Application (Commercial, Residential, and Other Applications)

In addition, with a rise in mission-critical facilities and industries using data center, the demand for UPS battery solution offering reliability, safety, and superior performance is also expanding. The UPS depends on getting equip with right batteries, configuring properly, and keeping them carefully. An end user may require power server for the business, run an entire building, or safeguard sensitive medications that are being stored at highly precise temperatures. Grid storage, residential grid storage, and electric vehicles are among the other applications using UPS, which are expected to fuel the production and sales cycle of UPS batteries as well.

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According to the latest report from World Health Organization (WHO), the US, India, Brazil, Russia, the UK, France, Spain, and Italy are among the worst affected countries due to the COVID-19 outbreak. The outbreak is adversely affecting the industries across the world. Also, the global economy witnessed downturn in 2020 and has also impacted the first quarter of 2021. The pandemic has disturbed UPS battery businesses and supplies globally. Market players experienced disruptions in their operations, and it is likely to have consequences till mid-2021. The global energy & power industry is one of the major industries that are suffering serious disruptions due to COVID-19 pandemic that is hindering the growth of the global UPS battery market. Factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have negtaively impacted the UPS battery market.

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