Modular UPS Market, By Component (Solution, Services) and By Vertical (BFSI, Healthcare, Manufacturing, IT & Telecommunication, Media & Entertainment, Defense, Data Centers) – Forecast 2023
In this rapidly changing world of technology, modular UPS market is projected to show major growth prospects during the forecast period. Major factor driving the modular UPS market is the increasing adoption of interactive displays in order to enhance customer service experience.
The global modular UPS market, by geography, has been segmented into North America, Europe, Asia Pacific and Rest of the World. As compared to other regions, the modular UPS market in Asia Pacific is expected to witness significant growth and hold the largest market share during the forecast period. Japan, India and China are anticipated to drive the growth of modular UPS market in the region. This is owing to the presence of large number of key players like Huawei Technologies in that region. In addition to this, the region comprises of developing countries and has growing economies which has high research and developments going on in order to ensure high implementation of new technologies. Growing demand for data center applications and increasing need for uninterrupted power supply are major factors driving the growth of modular UPS market in the region. Technological advancements are responsible for driving the growth of modular UPS market. Low maintenance costs and effective services are other factors driving the growth of modular ups market in the region.
Delta Electronics has launched a modular 500kVA UPS with world’s highest power per module. Moreover Delta Electronics is expanding its research and development and manufacturing operations in India and is also focusing on developing smart solutions for energy management and automation.
The modular ups market is growing rapidly over 14% of CAGR and is expected to reach at approx. USD 4 Billion by the end of forecast period.
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Modular UPS Market Segmentation
The modular UPS market has been segmented on the basis of component and vertical. The component segment is bifurcated into solution and services. The solution segment is further bifurcated into 10-100 kVA, 101-250 kVA, 251-500 kVA, and above 500 kVA. The modular UPS is known to provide energy efficient and high performance solutions. The modular UPS solutions are cost efficient and are also low maintenance. This is one major factor driving the growth of modular UPS market.
The prominent players in the modular UPS market are –
- ABB Group (Switzerland)
- Emerson Electric Co. (U.S.)
- Eaton Corporation PLC (Ireland)
- Huawei Technologies Co. Ltd. (China)
- Schneider Electric SE (France)
- General Electric (U.S.)
- Delta Electronics, Inc. (Taiwan)
- Gamatronic Electronic Industries Ltd. (Israel)
- Riello Electronica Group (Italy)
- Tripp Lite (U.S.)
Market Research Analysis:
The regional analysis of modular ups market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that Asia Pacific is estimated to account for the largest share of the market, followed by North America and Europe to grow at the fastest rate during the forecast period. The major growth in modular UPS market in Asia Pacific is attributed to technological advancements and developing economies in the countries like China, Japan and India in the region.
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Major giants like ABB Group and Riello Electronica Group are investing into modular UPS market due to increasing demand from various industry verticals like healthcare, education, corporate, government among others. Increasing demand for additional power supply and data center applications is one major factor fueling the growth of modular UPS market. ABB Group has launched modular UPS which will be suitable for small and medium sized data centers and has also expanded its product offerings to the data centers in North America. These UPS models are easy to deploy and can be added to the system as the power requirements of the system increases. This helps in avoiding the burden of over specification during the initial design configuration. It also ensures that data centers will operate with optimum efficiency and reliability. Riello UPS has launched a multi power UPS and has been recognized by Frost & Sullivan for new product innovation. Along with all the basic features, the product optimizes the initial investment costs and also provides an increase in ROI to the customers. It ensures flexible modularity and boosts redundancy levels and battery too.
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Modular UPS market can be segmented on the basis of following:
- 10-100 kVA
- 101-250 kVA
- 251-500 kVA
- 501 kVA and Above
- Integration Services
- Professional Services
- IT & Telecommunication
- Media & Entertainment
- Data Centers
The regional analysis of modular ups market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that Asia Pacific is estimated to account for the largest share of the market, followed by North America and Europe to grow at the fastest rate during the forecast period. The major growth in modular UPS market in Asia Pacific is attributed to technological advancements and developing economies in the countries like China, Japan and India in the region. Major factor driving the growth of modular UPS market in Asia Pacific region is the cost efficient solutions and increasing demand for additional power supply in the region.
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