Uninterruptible Power Supply (UPS) Market: Key Trends & Developments
There has been a surging demand for advanced and high-capacity energy storage systems globally, which is predicted to propel the growth of the global uninterruptible power supply (UPS) market with a CAGR of 3.66% during the forecast period, 2022-2030. An uninterruptible power supply (UPS) provides sufficient power to prevent the loss of unsaved work caused by a power failure, allowing enough time to save and shut down securely. Technological innovations and advancements in UPS and its battery systems are expected to accelerate the market demands.
Technology is one of the major segments in demand owing to the innovative requirements of the leading market players. The segment covers modular and monolithic technologies, including popular products like the UPS5000-H modular series from Huawei and Vertiv’s three-phase monolithic Liebert EXM2. With a 3.07% CAGR, monolithic technology is set to lead this segment in terms of revenue by 2030. The other segments of the global uninterruptible power supply (UPS) market include power range, topology, phase-type, and end-user.
Three-phase monolithic UPS offers up to 97% double conversion efficiency
In 2021, a three-phase monolithic UPS was introduced by Vertive that offers a double conversion efficiency up to 97%, which, with the dynamic online mode, can be boosted up to 98.8%. This advancement is expected to promote the industrial uninterruptible power supply market growth.
Further, Asia-Pacific, the region with the highest revenue share of the monolithic segment globally, recently witnessed various government initiatives for developing and launching novel products, which is expected to incentivize the market during the forecast period.
Asia-Pacific Market: Industry Leaders encourage Innovations
The investments in the network and IT infrastructure, coupled with the increase in the demand and adoption of internet and consumer electronics, have propelled the launch of advanced UPS systems in the Asia-Pacific region. For instance, in 2021, Huawei, a Shenzhen-based market player, officially launched a new generation of medium and large UPS5000-H series products at the inauguration of the modular UPS series of ultra-high-density.
In addition, Fuji Electric India announced the launch of two new products in 2021 and expanded its manufacturing base. Two new segments were predicted to drive the growth: data centers’ uninterruptible power supply (UPS) systems and solar inverters to support large projects. Such developments are expected to increase the deployment of these products across different end-users, promoting market growth during the forecast period.
Furthermore, the Asia-Pacific uninterruptible power supply (UPS) market generated about $2696.51 million in 2021 and is anticipated to be valued at $3902.99 million by 2030. The region is predicted to grow with the highest CAGR by 2030, owing to the rapid adoption of emerging technologies such as the Internet of Things (IoT), cloud, and artificial intelligence. These technologies enhance the need for backup power, including UPS systems.
Leading Trend: Demand for Zero Power Downtime
Enterprises and industries worldwide have undergone digitalization, increasing dependency on electronic devices to access and collect business process information. This data and information collection process increases the significance of a reliable and continuous power supply.
Besides, there is an increasing requirement for UPS solutions in the IT sector as many industrial processes have adopted PC-based and microprocessor systems susceptible to power fluctuations. Hence, most industries have adopted advanced uninterruptible power supply systems to achieve zero power downtime while effectively running IT operations.
Company Tractions enable Innovative Product Launches
With a strong presence of various major players, the global uninterruptible power supply (UPS) market is expected to be highly competitive during the forecast years. Offering technologically advanced and innovative products to consumers expands their customer base and geographical footprint.
- In 2021, Schneider Electric launched a 3-kilowatt uninterruptible power supply device which is half the size and weight of comparable products, making it ideal for edge applications. With a 35-pound and 1U form factor, the APC Smart-UPS Ultra can be attached to a ceiling, wall, or small pedestal to stand independently.
- In the same year, Emerson launched 240W and 480W UPS, which are ultra-reliable SolaHD SDU DC-B UPS modules with 15 years of service.
All in All
At present, new technologies such as custom power devices based on electronic power concepts are being developed to protect against power quality problems. Also, market players across the globe are launching and developing a range of technologically advanced products to suffice the requirements of their end-users. These developments are expected to facilitate growth opportunities for the global uninterruptible power supply (UPS) market during the forecast years.
What is the expected value of the global uninterruptible power supply (UPS) market by 2030?
The global uninterruptible power supply (UPS) market is set to be valued at $11616.05 million by 2030.
Which is the leading topology in the global uninterruptible power supply (UPS) market during the forecast period?
Rotary is the leading topology in the global uninterruptible power supply (UPS) market during the forecast period.