The Global Uninterruptible Power Supply (UPS) Market, according to Market Research Future (MRFR), is predicted to reach the moderate CAGR of 8.3% during the review period 2018 to 2025). The rising demand for continuous power supply is slated to lead to a market valuation of USD 13,154.4 million by the end of 2025.
Drivers and Restraints
Higher installation and maintenance costs linked with UPS systems may act as a challenge to the growth of the global UPS market. Batteries require replacement, and other critical components also need updates, which result in high operational costs. Driving trends in the market include the growing use of modular technology-based UPS for data centers. Growing applications due to the convenience in use presented by modular-based UPS systems are likely to support market expansion.
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The global USP market has been segmented on the basis of product type and application. Product types in the market are divided into line interactive, offline/standby, and online/double conversion. The offline/standby segment has acquired the largest share of the market and is likely to surpass revenue generation of USD 5383.62 million. This type of UPS system is cost-effective, compact making it decidedly popular in residential usage. Meanwhile, the online/double-conversion segment is estimated to record the highest CAGR of more than 10% over the assessment period.
Applications of UPS have double-conversion into datacenter, telecommunication, medical, marine, industrial, and others. Data center applications hold a 25% majority share of the global UPS market which is also likely to grow at the highest CAGR of 9.97% during the review period. Data centers generate large volumes of data, and the usage of UPS systems is considered necessary since it provides vital data protection and backup power supply options in case of outages or fluctuations in power.
the North American uninterruptible power supply market is expected to acquire a leading position in the global market, wherein the U.S. is dominating the market share. The market is driven by the growing demand for UPS systems in the healthcare and pharmaceutical sectors in the region. The regions advanced medical care sector uses a number of advanced medical technology whose power supply must be sustained to ensure optimum function of the devices and their readings, thus rising the usage of UPS systems. Industrial applications and the flourishing telecommunication industry are also placing a substantial demand for UPS technology.
Europe is another significant market for USP systems, and the region is expected to display similar growth patterns as North America. Thriving telecommunication industry and a rising number of data centers are slated to influence demand in the region.
Meanwhile, the Asia Pacific is anticipated to register a CAGR of 12.9% during the assessment period. Led by the developing market of China, the region includes several country-wise markets such as India and Japan. These developing regions have high power fluctuation and a huge demand for continuous power supply. The APAC region has established itself as a global industrial hub which requires a steady power supply. Furthermore, the presence of a massive population wherein many consumers invests in UPS systems to warrant a continuous supply of power. The region has a number of major market players, and UPS products are available through retail formats as well which will likely result in increased sales in the foreseeable future.
The key market players identified by MRFR in the market are Eaton Corporation, Schneider Electric, Emerson Electric Co., and ABB. Some of the other market players acknowledged in the market report include SORO Electronics, Socomec, EAST Group Co. Ltd., Jiangsu EKSI Electrical Manufacturing Co. Ltd., Xiamen Kehua Hengsheng Co. Ltd., Guangdong Prostar New Energy Technology Co. Ltd., Active Power Inc., Gamatronic, HongBao Electric Co. Ltd., AEG Power Solutions, KSTAR Corporation, Toshiba Corporation, Cyber Power Systems Inc., Jeidar Electronics, and Baykee among others.
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