Uninterruptible Power Supply (UPS) Market

The Global Uninterruptible Power Supply market is expected to reach USD 11.24 billion by the end of the year and is projected to register a CAGR of over 4.23% during the forecast period. The market was negatively impacted by COVID-19 in 2020.

New York, March 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Uninterruptible Power Supply (UPS) Market - Growth, Trends, And Forecasts (2023 - 2028)" - https://www.reportlinker.com/p06431238/?utm_source=GNW The Global Uninterruptible Power Supply market is expected to reach USD 11.24 billion by the end of the year and is projected to register a CAGR of over 4.23% during the forecast period.The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.Key HighlightsOver the medium term, the rising trend of IoT and smart buildings, a growing number of data centers worldwide, the growing trend of virtualization and cloud computing, and the growing adoption of multi-cloud and network upgrades are also expected to drive the growth of the market studied.On the other hand, the high cost of online UPS and a few limitations of UPS for protecting heavy appliances from power failure may negatively impact the market's growth and is one of the major restraints for the market.Nevertheless, Technological advancements in UPS battery systems, such as new lithium-ion (Li-ion) batteries with high operating temperatures, are expected to create immense opportunities in traditional data centers. UPS systems can also be installed as a backup system when the electricity griand d fails, are expected to provide growth opportunities in the forecast period.The Asia-Pacific region dominates the market and is also likely to witness the highest CAGR during the forecast period. The growth is mainly driven by the existing framework of policies supporting the adoption of 5G networks and increasing investments in data center technologies.Uninterruptible Power Supply (UPS) Market TrendsStandby UPS System Expected to Dominate the MarketThe growing demand for consumer electronics across the globe is one of the major drivers for standby UPS systems as compared to other UPS systems, as standby UPS system is the most preferred option for consumer electronics as it is the most economical option for devices with low power consumption. Due to the COVID-19 pandemic, the demand for desktop computers increased as people were forced to work from home.For instance, according to the International Data Center (IDC), the global shipment of desktop personal computers increased in 2021 to about 88.27 million units compared to the previous year, which was just about 79.8 million. Desktop personal computers face challenges from mobile devices such as laptops and desktops, which is led to an overall decline in sales; however, in the future, it is expected to increase as more professionals work from home.In 2021, Current generation video game console sales as witnessed a significant growth with 46.4 million unit sales. The sales registered about 30.0% growth compared to previous year.Similarly, the demand for gaming consoles is expected to increase during the forecast period and was aided by the coronavirus pandemic as it led to a surge in demand for home entertainment. According to VGChartz, the cumulative sales of current-generation consoles increased from 13.12 million units to 46.32 million units in 2021. A standby UPS is essential for gaming consoles, especially in areas with poor power quality, as unsafe levels of electricity can damage the system.Overall, the demand for standby UPS system is primarily expected to come from consumer electronics as offline UPS system provides the least expensive power backup and protection to the devices. It is expected to increase during the forecast period due to the increasing demand for desktop PC and gaming consoles.Asia-Pacific Expected to Dominate the MarketThe Asia-Pacific region is a developing region, with frequent blackouts and unstable power supply across the region, especially in countries like Malaysia, Cambodia, Philippines, and several others in the region. Major end-user of UPS systems in the region include the region's booming industrial and manufacturing sector, telecom sector, commercial sector, and residential sector.In the Asia-Pacific region, the manufacturing sector is one of the major contributors to the economy of various countries, with China being the largest hub of the manufacturing sector. Japan, India, South Korea, and Indonesia are also a few of the major contributors from Asia-Pacific, whereas countries like Vietnam, Malaysia, and Singapore are also expected to increase their share during the forecast period. ?Automation in the manufacturing sector involving computer-based control systems, Programmable Logic Control (PLC) units, and process control applications has prompted the need for UPS systems in industrial facilities.UPS systems not only provide backup in case of electric power failure, but they also protect equipment from power glitches like power sags, surges, under voltage, over-voltage, line noise, frequency variations, switching transient and harmonic distortions. Hence, UPS systems have become an essential part of almost all industries like telecom, engineering, manufacturing, R&D, education, medicine, IT, BPO, aviation, banking, and others.Manufacturing sector covers a wide range of industries, including the automotive industry, food processing industry, semiconductors, steel manufacturing, and many more, all of which require power quality equipment like UPS systems for their smooth operations as fluctuating and disruptive power causes significant monetary losses to the industries..For instance, in December 2021, China approved plans to build four mega clusters of data centers in its north and west to support the data needs of Beijing and major coastal centers. The clusters will be built in the northern Inner Mongolia region, northwestern Ningxia region, Gansu province, and southwestern Guizhou province.In 2021, several players entered agreements to construct data centers in India. Digital Realty and Brookfield formed a joint venture to develop data centers, Iron Mountain and Web Werks, EdgeConneX and Adani, and Yondr and Everstone also formed joint ventures. In 2021, Google opened its second data center in India, whereas Microsoft started working on its fourth.Power cuts and variable power supply cause significant damage to industries and businesses that rely heavily on good quality electricity for smooth operations. However, in developing countries like India and China, maintaining good quality power is difficult for the authorities.For instance, according to Invest India, by 2026-27, India's power generation installed capacity will be nearly 620 GW, 38% of which will be from coal and 44% from renewable energy. India's aim to diversify its energy sources and the target to provide 24x7 electricity supply by making a large addition of renewable energy generation capacities is estimated to be a significant driver for the market. The growing electricity demand, increasing disposable income, and the need for a reliable power supply are expected to support the UPS market in India during the forecast period.Therefore, based on the above-mentioned factors, Asia-Pacific is expected to become the fastest-growing UPS market during the forecast period.Uninterruptible Power Supply (UPS) Market Competitor AnalysisThe uninterruptible power supply (UPS) market is fragmented. Some of the major players (in no particular order) include Riello Elettronica SpA, EATON Corporation PLC, Emerson Electric Co., ABB Ltd, and Schneider Electric SE.Additional Benefits:The market estimate (ME) sheet in Excel format3 months of analyst supportRead the full report: https://www.reportlinker.com/p06431238/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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