Press release
Uninterrupted Power Supply (UPS) System Market Growth: Ensuring Power Continuity
UPS provide emergency power protection connected loads during any type of power failure. The uninterrupted power supply (UPS) system provide battery back up whenever there is any interruption in power flow. In addition, it also protects the system from damage during sudden power failure.
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Asia pacific accounted for significant revenue share, owing to large number of industrial booms in emerging economies, such as China, India, and Japan.
North America dominated the market with around 42% revenue shares in 2019.
The key players profiled in the uninterrupted power supply (UPS) system industry report include Schneider Electric Se, Abb Ltd., Soro Electronics, Luminous power technologies, MICROTEK, Delta Electronics Inc, Emersion Electric Co., and Huawei Technologies Co., Ltd.
The proliferating market demand of uninterrupted power supply (UPS) system as a reliable power supply is expected to drive the market growth.
Increase in number of data centers and decrease in battery prices are anticipated to potentially contribute toward the overall market growth.
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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The industrial uninterrupted power supply segment accounted for significant market share, owing to rise in demand in various manufacturing sector. Uninterrupted power supply (UPS) system is widely used in nuclear power plant or oil rig as a temporary power back up.
Based on rating, the >200 KVA rating uninterrupted power supply (UPS) system is expected to witness significant market growth. This is attributed to growing application in commercial and industrial end-user segments for various heavy appliances.
The industrial segment is anticipated to grow with a CAGR of 4.9%, in terms of revenue, during the forecast period.
Based on type, Offline uninterrupted power supply (UPS) system garnered significant market share. This is attributed to growth in demand of offline UPS system in residential and small scale commercial sectors. In addition, these are cost effective compared to that of online UPS system.
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.
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The global uninterrupted power supply (UPS) system market is in expansion phase. This is attributed to a significant surge in demand from residential and industrial end users.
Robust investments across emerging nations such as China, India, and South Korea for reliable energy solutions is expected to drive the market growth.
COVID-19 scenario analysis:
The global uninterrupted power supply market has significant impact of Covid-19. Due to work from norms, majority of population are residing at home, which positively affected the market growth.
In addition, frequent power loss during this pandemic led to increase in demand for uninterrupted power supply (UPS) system for residential as well as industrial sectors.
However, the shortage of regular manpower and social distancing norms delayed new installation of uninterrupted power supply (UPS) system.
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In addition, complete lockdown and social distancing norms across different countries delayed the cross-border export and import activities. This led to supply chain disruptions in the upstream and downstream channels.
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