USD 7.8 billion
Report ID: SQSG45J2030 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 95 | Figures: 76
Global UPS Market size was valued at USD 7.8 billion in 2021 and is poised to grow from USD 8.12 billion in 2022 to USD 11.38 billion by 2030, growing at a CAGR of 4.28% in the forecast period (2023-2030).
An uninterruptible power supply (UPS) is a battery backup system that provides continuous power to electric devices in the event of a power outage or voltage drop. It offers a safe way to shut down systems, reducing data loss and repair costs. UPSs are commonly used with desktop computers to prevent data loss in the event of power outages and voltage fluctuations, which can shorten the life of the hardware and circuits inside. Because of the need for continuous power, the commercial and residential sectors have seen an increase in demand for UPS systems.
Rapid urbanisation and growth in the IT market are driving the global uninterruptible power supply market. Furthermore, benefits associated with the use of UPS, such as loss limitation to numerous electrical components and appliances, and data maintenance on servers, are important drivers for the uninterruptible power supply (UPS) market. Understanding these systems as an essential power backup device for making work more effective and efficient is becoming more popular. The availability of data centre rack solutions and technological advancements are also expected to drive market growth. As developing economies such as China, India, and Japan experience significant industrial inflation, the demand for dependable power solutions is expected to drive UPS market growth.
US UPS Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 7.8 billion
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The global UPS market is segmented based on the product type, capacity, application and region. Based on the product type, UPS Market is segmented into online/ double conversion, line-interactive, and off-line/ standby. Based on capacity, UPS Market is segmented Up to 50 kVA, 51-200 kVA, and above 200 kVA. Based on application, UPS Market is segmented into residential, commercial, industrial, telecom, data center, marine, medical, and others. Based on region UPS Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
UPS Market Analysis by Product Type
The global UPS market is segmented based on product type into online/ double conversion, line-interactive, and off-line/ standby. The off-line/standby segment accounted for the lion's share of the UPS Market, and it is expected to retain its allure over the forecast period due to its lower cost, modular design, and higher reliability. Standby systems are only used when normal power supply lines are disrupted, which increases their operating life and available recharging time.
UPS Market Analysis by Application
The global UPS market is segmented based on application into residential, commercial, industrial, telecom, data center, marine, medical, and others. The data center and telecommunications centers have been the forerunners in deploying UPS systems to ensure smooth operation. This has resulted in the industrial segment accounting for a significant share of the UPS Market, as many small to medium data centers require and use uninterruptible power supplies to prevent data loss in the event of a power outage caused by power outages or voltage fluctuations.
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The global UPS market is studied on the basis of geography as North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Due to rise in automation in insurance, healthcare, and financial services, North America accounted for the lion's share of the global UPS Market. The North American market is also expanding as a result of the expansion of telecommunications and cloud-based services in the United States and Canada. Asia-Pacific is the fastest-growing region for the global uninterruptible power supply market, owing to the increasing number of collaborative data centres in developing countries such as India and China. Because of the region's exponential population growth, the expansion of power, manufacturing, food and beverage, and all other industries has directly increased the demand for uninterrupted power supply and thus UPS. As a result of increased automation and cloud services in the manufacturing and processing industries, Europe, the Middle East, and Africa are all experiencing steady growth. The Latin American market is expected to remain stagnant until the end of the forecast period due to low investments and slow growth in data centers and cloud-based computing in the region.
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UPS Market Driver
UPS Market Restraint
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Key ups market players include ABB Ltd., Ablerex Electronics Co. Ltd., Arabian Power Electronics Company, Delta Power Solutions Pvt., Ltd., Eaton Corporation, Inc., Emerson Electric Co., ENERSYS, Huawei Technologies Co., Ltd., Kstar New Energy, Co., Ltd., Mitsubishi Electric Corporation, Riello Elettronica Group,Schneider Electric SE, Siemens AG, SOCOMEC Group S.A., SolarEdge Solution (Ga Market participants are focusing on expanding their footprints by introducing new, smaller-footprint UPS solutions. Strategic collaborations have also been important in gaining access to the expanding market.
UPS Market Top Players Company Profiles
UPS Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global UPS market analysis, The Asia-Pacific region is in development, with frequent blackouts and unstable power supply throughout the region, particularly in Malaysia, Cambodia, the Philippines, and several other countries. The region's thriving industrial and manufacturing sectors, telecom sector, commercial sector, and residential sector are major end-users of UPS systems. The manufacturing sector is one of the major contributors to the economies of various countries in the Asia-Pacific region, with China being the largest manufacturing hub. Japan, India, South Korea, and Indonesia are among the major Asia-Pacific contributors, with Vietnam, Malaysia, and Singapore expected to increase their share during the forecast period.
Automation in the manufacturing sector, which includes computer-based control systems, Programmable Logic Control (PLC) units, and process control applications, has necessitated the installation of UPS systems in industrial facilities. The manufacturing sector includes a wide range of industries such as the automotive industry, food processing industry, semiconductors, steel manufacturing, and many more, all of which require power quality equipment such as UPS systems for smooth operations because fluctuating and disruptive power causes significant financial losses to the industries.
|Market size value in 2021||USD 7.8 billion|
|Market size value in 2030||USD 8.12 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
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For the Global UPS Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global UPS Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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