Uninterruptible Power Supply (UPS) Systems play a crucial role in protecting critical industrial equipment and processes from voltage fluctuations and power outages by providing backup power. Such power protection systems eliminate downtime, data loss, and equipment damage. They have applications across data centers, process industries, healthcare, telecommunications, and other sectors. The global Uninterruptible Power Supply Market is estimated to be valued at US$ 8.63 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising adoption of UPS systems across industries is one of the key trends driving market growth. As businesses aim to achieve greater operational efficiencies with minimal downtimes, they are increasingly recognizing the need for power backup equipment like UPSs. Their applications have expanded from server rooms and data centers to encompass production facilities, medical devices, IT infrastructure and more. This is prompting more investments in advanced UPS technologies that offer higher power capacities, longer backup times and modular scalability. The availability of UPS monitorings and management solutions is also fueling their adoption to optimize power protection strategies according to real-time needs.
Segment Analysis
The global uninterruptible power supply market size is segmented based on product type, application, and geography. By product type, the market is dominated by online UPS segment attributed to its ability to provide battery backup for longer time and no interruption in power supply in case of power fluctuations. By application, the commercial segment accounts for the major share in the market owing to growth in requirement of uninterrupted power supply from offices, retail outlets, healthcare facilities and others to avoid downtimes.
Key Takeaways
The global uninterruptible power supply market is expected to witness high growth during the forecast period of 2023 to 2030 owing to growing focus towards zero downtime infrastructure and critical applications.
Regional analysis: Asia Pacific region holds the major share in the global UPS market and is expected to maintain its dominance during the forecast period. Growing industrialization and infrastructure development activities in countries like China and India have fueled the demand for reliable power backup solutions from various end-use industries.
Key players: Key players operating in the uninterruptible power supply market are Inmarsat GHL (Connect Bidco Limited), Windward Limited, Amplify Mindware Private Limited, Spire Global, Inc., ProGen Business Solutions Private Limited, Spark Cognition Inc., Wartsila Oyj Abp, Prisma Electronics SA (Laros), U-Ming Marine Transport Corporation, and ABB Ltd. These players are focusing on new product launches and expansion strategies to gain higher market share.
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