Dublin, June 12, 2024 (GLOBE NEWSWIRE) -- The "Global Uninterrupted Power Supplies (UPS) Market Outlook, 2029" report has been added to ResearchAndMarkets.com's offering.
According to the report, the market is anticipated to cross USD 13 billion by 2029, increasing from USD 9.98 billion in 2023. The market is expected to grow with 5.58% CAGR by 2024-29. As digitalization continues to transform industries, the need for robust IT infrastructure grows. Data centers, cloud computing, and edge computing are becoming more prevalent, requiring reliable power sources to ensure continuous operation. UPS systems provide essential power backup for these critical infrastructures. The proliferation of data centers worldwide is a key driver of the UPS market.
Aspects covered in this report:
- Uninterrupted Power Supplies (UPS) market Outlook with its value and forecast along with its segments
- Various market drivers and challenges
- On-going trends and developments
- Top profiled companies
- Strategic recommendations
Time period coverage:
- Historic year: 2018
- Base year: 2023
- Estimated year: 2024
- Forecast year: 2029
Market Drivers:
- Digitalization and IT Infrastructure Growth: The rapid digital transformation across industries such as finance, healthcare, manufacturing, and telecommunications has led to a significant increase in the demand for reliable IT infrastructure. This includes data centers, cloud computing services, and edge computing networks, which rely on continuous and stable power to function efficiently. UPS systems play a crucial role in providing backup power and ensuring seamless operation during power outages, protecting sensitive data and equipment from damage. As businesses and governments continue to invest in digital technologies and smart infrastructure, the need for robust UPS solutions will continue to rise, making it a key driver of market growth.
- Adoption of Renewable Energy: The transition to cleaner, renewable energy sources such as solar and wind power is another major driver of the UPS industry. Renewable energy sources can introduce variability and fluctuations in power generation due to their dependence on weather conditions. UPS systems help stabilize power supply by storing excess energy and providing a consistent and reliable power source during periods of low generation. This stabilization is critical for both residential and commercial users who rely on renewable energy for their daily needs. As the world moves towards a more sustainable energy future, the demand for UPS systems that can integrate and support renewable energy sources will continue to grow.
Market Challenges:
- Supply Chain Disruptions: The UPS industry, like many other industries, faces challenges related to global supply chain disruptions. Shortages of critical components such as semiconductors, batteries, and other electronic parts can impact the production and availability of UPS systems. These disruptions can lead to delays in manufacturing, increased costs, and longer lead times for customers. In some cases, geopolitical tensions, trade restrictions, and natural disasters can exacerbate these challenges, further straining supply chains.
- Environmental Regulations and Sustainability: UPS manufacturers must navigate increasingly stringent environmental regulations and a growing emphasis on sustainability. Customers and regulators alike are demanding greener solutions and more environmentally friendly practices. This includes the use of eco-friendly materials, energy-efficient designs, and innovative battery technologies. Manufacturers must balance these demands with cost-effective production methods while also ensuring that their products meet regulatory requirements. Companies that fail to adopt sustainable practices may face penalties, reputational damage, and loss of market share.
Market Trends:
- Energy Efficiency and Sustainability: As environmental concerns and operational costs continue to rise, UPS manufacturers are placing a strong emphasis on developing energy-efficient and sustainable systems. This includes the use of more efficient power conversion technologies, advanced battery management systems, and intelligent power distribution units. The goal is to minimize energy wastage, reduce carbon emissions, and extend the lifespan of UPS systems. By focusing on energy efficiency, manufacturers can provide customers with cost-effective solutions while also contributing to global sustainability efforts.
- IoT and Smart Connectivity: The integration of Internet of Things (IoT) technology into UPS systems is revolutionizing the way they are monitored and managed. Smart connectivity allows for real-time data collection, remote monitoring, and predictive maintenance. Users can access UPS performance data and receive alerts on potential issues, enabling proactive maintenance and minimizing downtime. Additionally, smart UPS systems can be integrated with other devices and systems, providing a holistic approach to power management. This trend enhances the reliability and efficiency of UPS systems, making them more attractive to both residential and commercial customers. As IoT continues to evolve, the demand for smart UPS solutions is expected to grow.
Recent Developments:
- In April 2023, Schneider Electric, the global company in energy management and automation, introduced the UPS 3-Phase Modular. The UPS is designed to protect critical loads while offering third-party verified Live Swap functionality. Easy UPS 3-Phase Modular available in 50-250 kW capacity with N+1 scalable configuration and supports the EcoStruxureTM architecture, which offers remote monitoring services.
- In February 2023, Power management company Eaton announced its innovation in industrial backup power with the North American launch of its DIN rail industrial uninterruptible power supply (UPS). It is built to withstand the demanding physical conditions and extreme temperatures of harsh environments. Also, the UPS offers reliable battery backup for Internet of Things (IoT) devices across factories, warehouses, edge locations, and other industrial facilities.
Market Segmentation
- By Type:
- Online/ Double Conversion
- Line-interactive
- Off-line/ Standby
- By Capacity:
- Up to 50 kVA
- 51-200 kVA
- Above 200 kVA
- By Application:
- Data Centers
- Industrial
- Telecommunication
- Medical
- Marine
- Residential & Commercial
- Others
Market Segmentation Insights:
- Online or double conversion UPS systems lead the UPS industry due to their unparalleled ability to provide clean, stable, and continuous power by isolating connected equipment from all power disturbances, including voltage fluctuations and power outages, while also delivering seamless switching between power sources.
- The 51-200 kVA UPS segment leads the industry due to its versatile capacity range, which caters to the power protection needs of medium-sized businesses, data centers, and critical infrastructure projects, balancing the need for adequate power backup with manageable costs and scalability.
- The data center application leads the UPS industry due to the critical need for uninterrupted, high-quality power to ensure continuous data processing and storage, maintain operational uptime, and prevent costly disruptions in IT infrastructure.
- Asia-Pacific is leading the UPS industry due to the region's rapid economic growth, increasing digitalization, expanding data center infrastructure, and rising demand for reliable power backup across diverse sectors such as IT, telecommunications, healthcare, and manufacturing.
A selection of companies mentioned in this report includes, but is not limited to:
- Schneider Electric SE
- Eaton Corporation plc
- Delta Electronics, Inc.
- Mitsubishi Electric Corporation
- ABB Ltd.
- Emerson Electric Co
- Hitachi, Ltd.
- Legrand S.A.
- Toshiba Corporation
- Vertiv Holdings Co.
- Siemens AG
- Huawei Technologies Co. Ltd.
- Riello Elettronica S.p.A.
- Fuji Electric Co. Ltd.
- General Electric Company
- Borri S.p.A.
- Kohler Co
- AMETEK, Inc.
- V-Guard Industries Ltd.
- AMETEK, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/hujt0h
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