How Is The Global Uninterruptible Power Supply (UPS) Market Defined?
An uninterruptible power supply (UPS) is a device that provides emergency power to a load when the input power source fails. It offers protection from power disruptions, allowing connected equipment to continue running temporarily or to shut down safely. Its systems typically include batteries or supercapacitors to store energy for use during outages.
Uninterruptible Power Supply (UPS) Global Market Report 2024 provides data on the global uninterruptible power supply (ups) market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The uninterruptible power supply (ups) market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Uninterruptible Power Supply (UPS) Market Size Expected To Expand, And At What Annual Growth Rate?
The uninterruptible power supply (UPS) market has grown steadily in recent years. It will increase from $9.33 billion in 2023 to $10.06 billion in 2024, marking a CAGR of 7.9%. This growth is due to the increasing reliance on IT infrastructure, more frequent power outages, greater awareness of power quality issues, stricter regulatory standards, and growing investments in renewable energy. The market is projected to grow to $13.69 billion by 2028 at a CAGR of 8.0%. Growth drivers include more power outages, the expansion of the IT and data center sectors, the increase in telecom infrastructure, the rising demand for energy storage systems, and greater consumer electronics demand. Key trends in the forecast period include hybrid UPS systems, grid-tied and off-grid capabilities, solid-state batteries, modular UPS systems, and improved surge protection.
What Are The Key Drivers Fueling Growth In The Uninterruptible Power Supply (UPS) Market?
The expansion of the telecommunications industry is expected to spur the growth of the uninterruptible power supply (UPS) market. Telecommunications refers to the transmission and exchange of information through technologies like the internet, telephone, radio, and television. The telecommunications sector is expanding due to the growing demand for seamless connectivity and technological advancements. UPS systems are critical in ensuring the continuous operation of telecom equipment, maintaining service reliability during power outages. In May 2021, the Canadian Radio-television and Telecommunications Commission reported a 3.4% increase in total revenues for the telecom sector, largely due to a $1.3 billion boost in mobile revenues. Thus, the growing telecommunications sector is driving the UPS market.
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What Are The Principal Market Segments In The Global Uninterruptible Power Supply (UPS) Industry?
The uninterruptible power supply (UPS) market covered in this report is segmented –
1) By Product: Online Conversion, Line-Interactive, Off-Line Or Standby
2) By Component: Rectifier, Batteries, Inverter, Static Bypass Switch, Capacitors, Fans, Other Components
3) By Capacity: Less Than 10 Kva, 10-100 Kva, Above 100 Kva
4) By Application: Residential, Commercial, Industrial, Telecommunication, Data Center, Marine, Medical, Other Applications
Which Emerging Market Trends Are Altering The Uninterruptible Power Supply (UPS) Sector?
In the uninterruptible power supply (UPS) market, companies are working on advanced solutions like HotSync's load-sharing technology to improve efficiency and reliability in power generation networks. For example, in May 2024, Eaton Corporation, an Ireland-based intelligent power management company, launched the 9395X UPS, a space-saving solution designed for hyperscale and colocation data centers. The new model offers a 50% reduction in footprint and a significant improvement in power density, enabling data centers to increase power capacity while minimizing physical space requirements.
What Is The Leading Region In The Uninterruptible Power Supply (UPS) Market?
North America was the largest region in the uninterruptible power supply (UPS) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the uninterruptible power supply (UPS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
