UPS System Market Set to Reach $9.4 Billion, growing at a CAGR of 4.3% by 2027
(258 PDF Pages with Insights) UPS System Market by Type, Rating, and End User: Opportunity Analysis and Industry Forecast, 2020–2027
PORTLAND, OREGON, UNITED STATES, August 23, 2021 /EINPresswire.com/ — UPS System Market by Type (Online, Offline and Line interactive), Rating (<5KVA, 5-<50 KVA, 50-200 KVA, and >200 KVA), and End User (Residential, Industrial, and Commercial): Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global UPS system industry generated $7.4 billion in 2019, and is expected to garner $9.4 billion by 2027, witnessing a CAGR of 4.3% from 2020 to 2027.
Increase in demand for reliable power solutions for supporting large-scale manufacturing facilities and surge in adoption from residential and commercial sectors drive the growth of the global uninterrupted power supply system market. However, high maintenance cost of UPS systems hinders the market growth. Contrarily, advancements such as Lithium-ion (Li-ion) batteries with high operating temperature create new opportunities in the market.
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Based on type, Offline uninterrupted power supply (UPS) system garnered significant market share. This is attributed to growth in demand of offline UPS system in residential and small scale commercial sectors. In addition, these are cost effective compared to that of online UPS system.
Based on rating, the >200 KVA rating uninterrupted power supply (UPS) system is expected to witness significant market growth. This is attributed to growing application in commercial and industrial end-user segments for various heavy appliances.
The industrial uninterrupted power supply segment accounted for significant market share, owing to rise in demand in various manufacturing sector. Uninterrupted power supply (UPS) system is widely used in nuclear power plant or oil rig as a temporary power back up.
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Based on region, North America contributed to the largest market share in 2019, accounting for more than two-fifths of the global UPS system market, and will maintain its lead position throughout the forecast period. This is due to rise in demand for industrial and commercial UPS systems and sudden blackouts in the U.S. Moreover, Asia-Pacific is projected to portray the largest CAGR of 5.1% from 2020 to 2027, owing to surge in number of industrial booms in emerging economies such as China, India, and Japan.
Major players have adopted product launch, business expansion, and acquisition to sustain the intense market competition. The key players profiled in the report include
Leading market players
• Schneider Electric Se
• Abb Ltd.
• Soro Electronics
• Luminous power technologies
• MICROTEK
• Delta Electronics Inc.
• Emersion Electric Co.
• Huawei Technologies Co., Ltd.
Get detailed COVID-19 impact analysis on the Uninterrupted Power Supply (UPS) Market @ https://www.alliedmarketresearch.com/request-for-customization/5941?reqfor=covid
COVID-19 scenario analysis:
• The global uninterrupted power supply market has significant impact of Covid-19. Due to work from norms, majority of population are residing at home, which positively affected the market growth.
• In addition, frequent power loss during this pandemic led to increase in demand for uninterrupted power supply (UPS) system for residential as well as industrial sectors.
• However, the shortage of regular manpower and social distancing norms delayed new installation of uninterrupted power supply (UPS) system.
• In addition, complete lockdown and social distancing norms across different countries delayed the cross-border export and import activities. This led to supply chain disruptions in the upstream and downstream channels.
David Correa
Allied Analytics LLP
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