The global uninterruptible power supply (UPS) market is estimated to be valued at US$ 8.23 Bn in 2022 and is expected to exhibit a 4.2% CAGR over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Uninterruptible power supply or UPS systems provide emergency backup power to connected equipment when the main power fails or drops to unacceptable voltage levels. They help protect hardware, data, and productivity by conditioning utility or generator power. UPS systems offer reliability, security, and enhanced power that helps critical devices operate during a blackout.
Market key trends:
One of the key trends in the UPS market is the adoption of lithium-ion batteries. Lithium-ion batteries are increasingly replacing traditional lead-acid batteries in UPS systems due to their superior performance which includes higher storage capacity, lighter weight, longer lifespan and less maintenance. For example, lithium-ion batteries can last over 5 times longer than lead-acid batteries and don’t have any memory effect issues. Their higher storage capacity also means that lithium-ion UPS systems can provide backup power for longer durations making them suitable for applications needing extended backup times.
The global uninterruptible power supply (UPS) market is segmented by product type, kVA range, and end use. By product type, online UPS systems dominate the market and hold around 60% share. Online UPS systems provide consistent power output and battery backup in case of power failures making them ideal for critical operations that require constant power supply without any interruptions.
By kVA range, the 1-20 kVA segment accounts for the largest share of around 45%. UPS systems in the 1-20 kVA range find wide applications for servers, desktops, networking equipment, and small data centers. The growth of small and medium enterprises is fueling demand in this segment.
The global Uninterruptible Power Supply (UPS) Market Size is expected to witness high growth, exhibiting CAGR of 4.2% over the forecast period, due to increasing demand for backup power solutions from data centers and telecom industries.
Regional analysis – North America dominates the UPS market with around 35% share attributable to early technology adoption and presence of leading market players in the region. Asia Pacific is expected to grow the fastest exhibiting a CAGR of over 5% during the forecast period led by rapid developments in digital infrastructure in countries like China and India.
Key players – Key players operating in the uninterruptible power supply (UPS) market are Aspex Inc., Riello Elettronica SpA, Cyber Power Systems Inc., EATON Corporation PLC, General Electric Company, Emerson Electric Co., Mitsubishi Electric Corporation, Delta Electronics Inc., Hitachi Ltd., ABB Ltd., and Schneider Electric SE. These players are focusing on new product launches and mergers & acquisitions to gain market share.