Global UPS Market Size By Type (Off-line/standby, Line-interactive), By Application (Data Center, Telecommunication, Medical), By Geographic Scope And Forecast

UPS Market Size And Forecast

UPS Market size was valued at USD 7.80 Billion in 2021 and is projected to reach USD 11.38 Billion by 2030, growing at a CAGR of 4.28% from 2023 to 2030.

The Global UPS Market has witnessed strong growth owing to rapid urbanization and growth in the IT market. Technological advancement and the availability of data center rack solutions are also anticipated to foster market growth. The increasing demand for UPS in the residential and commercial sectors will moreover enhance the market growth. The Global UPS Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global UPS Market Definition

An uninterruptible power supply or uninterruptible power source (UPS) is electrical equipment that generates emergency power to a load when the input power source or mains power fails. In a UPS, the energy is usually stored in batteries, flywheels, or supercapacitors. Compared to other immediate power supply systems, UPS has the advantage of close protection against input power interruptions. It has a short on-battery run time; however, it is sufficient to securely shut down the associated apparatus (computers, telecommunication equipment, etc.) or switch on a standby power supply. They can only be employed for the supply of power for some time so that there is no impairment to the devices.

A UPS is typically used to maintain hardware such as computers, data centers, telecommunication equipment, or other electrical equipment where an accidental power disruption could cause injuries, fatalities, severe business disruption, or data loss. UPS is extensively used in small offices, hospitals, electric point of sales terminals, and telecommunication centers for power backup. In large business environments where security is paramount, a single huge UPS can also be a singular point of failure that can confuse many other systems. To accommodate more excellent reliability, multiple smaller UPS modules and batteries can be integrated to deliver redundant power protection equivalent to one huge UPS.

Global UPS Market Overview

The global UPS Market is mainly driven by rapid urbanization and growth in the IT market. Also, economic development and an upsurge in the need for reducing poverty and enhancing the quality of life with the help of modern energy services positively impact the market. Besides, advantages connected with the use of UPS, such as loss limitation to the multiple electrical components & appliances and maintenance of data on the servers, is also crucial driver for the UPS Market. There is an increasing trend of understanding these systems as virtual power backup devices for making work more productive and efficient. Technological improvement and the availability of data center rack solutions are also anticipated to boost market growth.

The increasing need for UPS in the residential and commercial sectors will enhance market growth. As developing economies, such as China, India, and Japan, face sizeable industrial inflation, reliable power solutions are estimated to boost the UPS Market growth. Furthermore, increasing demand for zero power downtime from various sectors is expected to propel the market growth during the forecast period. There is a massive demand for UPS systems in the IT sector; numerous manufacturing processes have now adopted microprocessors and PC-based systems that are responsive and sensitive to power disturbances. A few seconds of an energy outage can disrupt industrial processes, causing significant financial casualties.

Hence, most businesses across sectors have started adopting superior UPS and modular UPS systems. The surge in the need for long-term energy safety is a timely investment to supply energy, further influencing the market. It offers economic development and a sustainable environment across the globe. The rise in the telecommunication sector assists in the expansion of the market. Additionally, rapid urbanization, lifestyle change, investments, and increased consumer spending positively impact the UPS Market. However, high installation costs and expensive maintenance linked with UPS challenge the UPS Market.

Also, regular replacement of batteries and revising the elements and technology due to the fast development of high-powered equipment is the main obstacle to developing the UPS Market throughout the projection period. Nevertheless, improvements in UPS battery systems, such as new Lithium-ion (Li-ion) batteries with large operating temperatures, will create lucrative opportunities in conventional data centers. The Li-ion batteries last two to three times greater than traditional Valve Regulated Lead Acid (VRLA) batteries.

Global UPS Market Segmentation Analysis

The Global UPS Market is segmented on the basis of Type, Application, and Geography.

UPS Market, By Type

• Off-line/standby
• Line-interactive
• Online/double-conversion

Based on Type, the market is segmented into Off-line/standby, Line-interactive, and Online/double-conversion. The Online/double-conversion segment in the global UPS Market is expected to grow at the highest CAGR during the forecast period. The online/double-conversion uninterruptible power supply systems are overcoming various current power supply challenges. This, in turn, encourages their growth and demand in different business verticals. Also, Offline/standby is expected to witness significant market growth in the projection period, owing to growing applications of such uninterrupted power supply systems in small-scale and medium-scale applications for computers, printers, or scanners.

UPS Market, By Application

• Data Center
• Telecommunication
• Medical
• Industrial
• Marine
• Others

Based on Application, the market is segmented into Data Center, Telecommunication, Medical, Industrial, Marine, and Others. The industrial segment in the Global UPS Market is anticipated to grow at the highest CAGR during the projection period. Due to the industrial boom in countries such as India, China, and Japan, the UPS Market is anticipated to witness substantial growth in the industrial sector.

UPS is considerably used in the industrial sector for significant process control, like a nuclear power plant or an oil rig. Apart from this, the data center and telecommunication centers have been the front runner in using UPS systems to maintain smooth functionality. This has also caused the industrial segment to hold a significant share of the market as SMEs use the uninterruptible power supply to prevent data losses in case of a power disruption.

UPS Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

On the basis of Regional Analysis, The Global UPS Market is classified into North America, Europe, Asia Pacific, and Rest of the world. Asia Pacific accounted for the largest market share of around 45% in the Global UPS Market. This is attributed to frequent blackouts and unstable power supply across the region, especially in countries such as Malaysia, Cambodia, the Philippines, and several others. Major end-users of UPS systems in the area include the region’s thriving industrial and manufacturing, telecom, commercial, and residential sectors.

Besides, in the Asia-Pacific region, the manufacturing sector is one of the significant contributors to the economy of various countries, with China being the most prominent hub of the manufacturing industry. Japan, India, South Korea, and Indonesia are significant Asian-Pacific contributors. In contrast, countries such as Vietnam, Malaysia, and Singapore are also expected to increase their share during the forecast period.

Key Players

The “Global UPS Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Schneider Electric, Eaton, Emerson Electric Co., S&C Electric Company, ABB, Socomec, Toshiba Corporation, AEG Power Solutions B.V., Xiamen Kehua Hengsheng Co. Ltd., and Sendon International Ltd.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Key Developments

• In November 2021, Emerson introduced Long-Life 240W and 480W DIN Rail Mounted Uninterrupted Power Supplies; the Ultra-reliable SolaHD SDU DC-B UPS control module has a useful service life of 15 years.
• In October 2021, Schneider Electric introduced the next innovation game-changer to address hybrid IT infrastructure challenges with the new 5kW APC Smart-UPS Ultra. The newest single-phase Uninterruptible Power Supply (UPS) features EcoStruxure for remote monitoring, management, and services and is equipped with Lithium-ion batteries, making it the lightest single-phase 5kW UPS on the market.
• In July 2021, Eaton announced the global launch of the 9PX lithium-ion uninterruptible power supply (UPS). Eaton’s new UPS provides longer battery life and a smaller footprint than valve-regulated lead-acid (VRLA) battery-powered UPS technology, making it ideal for distributed, “edge” environments and light industrial applications ranging from healthcare to education.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into Active, Cutting Edge, Emerging, and Innovators categories.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global UPS Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global UPS Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

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