According to Market Research Future (MRFR), the global uninterruptible power supply (UPS) market is projected to reach USD 13,154 million with an impressive CAGR of 8.3% from 2018 to 2025 (forecast period). The report explores the strengths, opportunities, threats, and potential business risks and provides a more profound overview of the global market environment with the influence of COVID-19.
Uninterruptible Power Supply (UPS) is an important power backup system that has gained traction in recent years. UPS deployment has extended a range of fields, including manufacturing, retail, telecommunication, medical, and IT.
Market Dynamics
UPS allows companies and organizations to work in situations of severe power shortage. The availability of high-performance UPS systems that can support large-scale manufacturing facilities is noteworthy progress in the development of reliable power management solutions. Power consumption continues to grow worldwide, and there is more need for uninterrupted power supply. In recent years, the demand for high-quality UPS systems has increased considerably in the commercial and residential sectors. Emerging economies such as India, China, and Mexico are experiencing a huge industrial boom that has led to increased demand for power. However, the inadequate power supply is a significant problem in these countries and hence remains a potential market for UPS. Nevertheless, the cost of maintenance remains high for these systems, which in some way, hinders the growth of the market.
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Market Segmentation
The global uninterruptible power supply (UPS) market has been segmented based on product type and application.
Based on product type, the global uninterruptible power supply (UPS) market has been segmented into off-line/standby, line-interactive, and online/double-conversion. During the review period, the offline/standby segment will significantly outperform the other two segments. In 2017, the offline/standby segment held for more than two-thirds of the market share and is projected to rise well over 2025. In the meantime, the online/double conversion segment is expected to record the highest CAGR during the forecast period. Double-conversion UPS systems resolve numerous power supply challenges that, in turn, drive their popularity in a variety of business verticals.
Based on applications, the global uninterruptible power supply (UPS) market has been segmented into the data center, telecommunication, medical, industrial, marine, and others. The data center segment is anticipated to hold its leading position over 2025. The segment exceeded USD 1,790 million in market value in 2017. The telecommunications segment is projected to maintain a second position during the forecast period, with a CAGR of 8.66%.
Regional Analysis
Regionally, the global uninterruptible power supply (UPS) market has been segmented into North America, South America, Europe, the Middle East & Africa (MEA), and the Asia Pacific.
The North American market is expected to remain highly lucrative over the next few years. In 2017, North America had a market share of less than 40%. By 2025, the market in the region is projected to reach USD 5.160 million. Market players are expected to approach the Asia Pacific and Europe as essential business destinations. The Asia Pacific UPS market is projected to rise at USD 3.718.3 million by the end of 2025, representing a CAGR of 11.95%. Europe accounted for 29% of its market share in 2017 and is expected to top USD 3.300 million by 2025.
Key Players
Some of the important market players discussed by MRFR in its study include Socomec, Baykee, Eaton Corporation, Gamatronic, Active Power Inc., HongBao Electric Co. Ltd., Jiangsu EKSI Electrical Manufacturing Co. Ltd., AEG Power Solutions, S&C Electric Company, Zhejiang SANKE Electrical Co. Ltd., Schneider Electric, Beijing Dynamic Power Co. Ltd., PowerMan, Emerson Electric Co., EAST Group Co. Ltd., Xiamen Kehua Hengsheng Co. Ltd., ABB, Guangdong Prostar New Energy Technology Co. Ltd., Delta Electronics Inc., Guangdong Zhicheng Champion Group Co. Ltd, Sendon International Ltd., KSTAR Corporation, SORO Electronics, Jeidar Electronics, Toshiba Corporation, Cyber Power Systems Inc.
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