Uninterruptible Power Supply (UPS) Market to Flourish with 7.1% CAGR (2023-2030) Driven by Increasing Demand for Electronic Device Backup Power, and major participants includes are Vertiv Group Corp., Emerson Electric Co., ABB Ltd., Schneider Electric, Baykee, Toshiba Corporation, Shenzhen INVT Electric Co.
New York, Aug. 10, 2023 (GLOBE NEWSWIRE) -- According to the research report “Global Uninterruptible Power Supply (UPS) Market” published by Consegic Business Intelligence, the market was sized at USD 10,529.07 million in 2022 and is expected to reach over USD 17,947.28 million by the year 2030, growing at a CAGR of 7.1%. inverter battery for home
Uninterruptible Power Supply (UPS) are reliable backup power source that provide uninterrupted power to electrical or electronic devices during main power failure. In addition, UPS are mainly employed to protect critical infrastructure from power related concerns including power outages, fluctuations, brownouts, spikes, among others. The UPS system includes a dedicated battery that stores energy received from utility-supplied power, which is later shared with the infrastructure during the time of power outage.
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Moreover, the key requirement for the adoption of UPS within residential, commercial, and industrial sectors is owing to the growing requirements for backup power supply and storage system. Moreover, UPS protects hardware from damage, expected to be caused due to voltage spikes and over currents. Accordingly, UPS models are designed to regulate the input power at intervals to avoid damaging any critical infrastructure.
Furthermore, increasing demand for data backup and need for large numbers of datacenters is promoting market growth for UPS. For instance, Eaton has a product category of 5PX UPS which is designed to cater enterprises need as a backup solution.
Vertiv Group Corp., Emerson Electric Co., ABB Ltd., Schneider Electric, Baykee (Guangdong) Technology Co. Ltd., Cyber Power Systems Inc., Infineon Technologies AG, Toshiba Corporation, Shenzhen INVT Electric Co. Ltd., Active Power, DELTA UPS & Regulator, Delta Power Solutions, HONGBAO Power Supply Co. Ltd., Guangdong Zhicheng Champion Group Co. Ltd., Sendon Electronics Co. Ltd., EAST Group Co. Ltd., Eaton, Shenzhen Jeidar Electronics Co. Ltd., AEG Power Solutions, Shenzhen Kstar Science&Technology Co. Ltd.
Less than 10 kVA, 10-50 kVA, 51-100 kVA, and Above 100 kVA
Standby UPS System, Online/Double Conversion UPS System, and Line-interactive UPS System
Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more
North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
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Uninterruptible Power Supply (UPS) Market Growth Drivers:
Increasing application of UPS against power interruption across different sectors is driving the market growth
Growing demand of backup source for providing power supply to electronic devices is driving the market growth
High initial cost of equipment and operational expenditure is restraining the market growth
Ecological concerns associated with the disposal of battery
Increasing reliance on digital infrastructure is expected to promote the market growth of Uninterruptible Power Supply (UPS)
Global Uninterruptible Power Supply (UPS) Market Segmentation Details:
Based on Capacity, the 51-100 kVA Uninterruptible Power Supply (UPS) segment contributed the largest shares to the market growth in 2022. Owing to key features including modular size, aforementioned capacity of UPS is mainly used in medium sized installations including educational institutions, healthcare facilities, data centers, and others. Moreover, in order to protect electrical equipment including servers, telecom equipment, and healthcare related critical system is driving the market growth for 51-100 kVA Uninterruptible Power Supply (UPS).
Based on Type, the online/double Conversion segment offered substantial shares to the market in the year 2022. Owing to the increasing requirement for power during power outage, stored DC is then converted to AC and supplied to the electrical equipment. The key features that are promoting the growth of online/double conversion system are owing to the growing requirements for uninterrupted power services to infrastructures including data centers, healthcare facilities, and others.
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Based on Application, commercial holds the largest market share in 2022. The key reason for the largest revenue generation of the segment is owing to growing requirements of UPS in the infrastructures including data centers, telecommunication, hospital & clinics, and others. These infrastructures are in a constant mode or operation and each critical activity happening within the facility requires constant power supply. Thus, to avoid any power disruption and hampering operations, UPS are majorly being delayed in aforementioned locations.
Based on Region, North America has been a major contributor to the growth of the Uninterruptible Power Supply (UPS) market. North America is contributing significantly to the research and development of Uninterruptible Power Supply (UPS) based products owing to the presence of key players including Vertiv Group Corp., Emerson Electric Co., ABB Ltd., Schneider Electric, and others. The region is continuously witnessing growth in sectors including semiconductors, aerospace and defense, communication, and others is proliferating the growth of Uninterruptible Power Supply (UPS) market.
In December 2021, Schneider Electric introduced EcoStruxure, an IT based next generation Data Center Infrastructure Management (DCIM) software for monitoring, planning, and management IT infrastructure including PDUs, UPS, environmental monitoring gears, and others.
In March 2023, Vertiv launched, New Vertiv Liebert GXE UPS, a high-performance online double-conversion single phase UPS. The system is available in 6 and 10 kVA power rating in rackmount and tower configuration.
Globally, the Uninterruptible Power Supply (UPS) market is divided into capacity based into the capacity into Less than 10 kVA, 10-50 kVA, 51-100 kVA, and Above 100 kVA.
In the context of type, the market is separated into standby ups system, online/double conversion ups system, and line-interactive ups system.
The application segment is segmented into residential, commercial, and industrial.
The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in Uninterruptible Power Supply (UPS).
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List of Major Global Uninterruptible Power Supply (UPS) Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
Baykee (Guangdong) Technology Co. Ltd.
Shenzhen INVT Electric Co. Ltd.
HONGBAO Power Supply Co. Ltd.
Guangdong Zhicheng Champion Group Co. Ltd.
Shenzhen Jeidar Electronics Co. Ltd.
Shenzhen Kstar Science&Technology Co. Ltd.
Global Uninterruptible Power Supply (UPS) Market Segmentation:
Online/Double Conversion UPS System
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Key Questions Covered in the Uninterruptible Power Supply (UPS) Market Report
What will be the potential market valuation for the Uninterruptible Power Supply (UPS) market by 2030?
- The market valuation for the Uninterruptible Power Supply (UPS) market is expected to be approximately USD 17,947.28 million by 2030 owing to the growing demand of backup source for providing power supply to electronic devices is driving the market growth.
Based on current market trends and future predictions, which geographical region will have the largest impact on the Uninterruptible Power Supply (UPS) market's growth in the coming years?
- Asia Pacific is anticipated to witness the fastest CAGR during the forecast period due to the increasing investment by the government for the development of different sectors including semiconductor, energy and storage, and others.
What specific segmentation details are covered in the Uninterruptible Power Supply (UPS) market report, and how is the dominating segment impacting the market growth?
- The Commercial sector dominates the market in 2022 as Uninterruptible Power Supply (UPS) due to growing demand for UPS from educational, telecommunication sectors.
What specific segmentation details are covered in the Uninterruptible Power Supply (UPS) market report, and how is the fastest segment anticipated to impact the market growth?
- Above 100 kVA capacity of UPS will emerge as the fastest segment owing to the growing requirement of efficient power backup system to protect the electrical devices from power spike, outage, voltage fluctuations and among others.
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