DUBLIN--(BUSINESS WIRE)--The "Thailand UPS Systems Market (2018-2024): Market Forecast by KVA Ratings, by Applications, by Regions and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Market is projected to grow at a CAGR of 5.7% during 2018-24.
Investment in the hospitality sector, growing medical tourism along with the transformation of the country's economy by investing heavily in the manufacturing sector particularly in electronics and automobile sectors were the key drivers for the growth of UPS system market during the past few years.
The ICT sector is driven by increasing demand in the financial services sector along with the growth of software-as-a-service solutions, and cloud services.
Growing IT infrastructure and need for a power back up solutions would spur the market for UPS systems in Thailand. Expected growth in the country's commercial and industrial sectors on account of significant emphasis on the manufacturing and healthcare industries would drive the demand for UPS systems during the forecast period.
Thailand has recently introduced the ICT Policy Framework 2020, which aims a number of development strategies and goals, which include universal broadband, competent ICT workforce, competitive ICT industry, and digital government, etc., would fuel the market for UPS systems in the country.
Central region captures the majority of market revenue share and is projected to witness the highest growth rate in coming years on account of the development of the commercial and industrial sectors owing to Thailand 4.0 development plan and other initiatives such as the Thailand Manufacturing Logistics Master Plan 2017-2020.
The government is also aiming to increase foreign investment in the coming years which would enhance the growth of the infrastructural footprint in the region. On account of several upcoming social infrastructure projects such as Magnolias Waterfront Residences Tower 1, Bangkok Mall and Grand Rama Tower market for UPS systems would increase during the forecast period.
Markets Covered
The report provides a detailed analysis of the following market segments:
By KVA Ratings
- Up to 1 KVA
- 1.1-5 KVA
- 5.1-20 KVA
- 20.1-50 KVA
- 50.1-200 KVA
- Above 200 KVA
By Applications
- Residential
- Industrial
- Commercial (Offices, healthcare, BFSI, hospitality, education, Data Centre & Others.)
Companies Mentioned
- ABB Ltd.
- Delta Electronics (Thailand) Public Co., Ltd.
- Eaton Corporation Plc
- Fuji Electric (Thailand) Co., Ltd
- General Electric Company
- RIELLO UPS SINGAPORE Pte Ltd.
- Schneider Electric SE
- Socomec Group S.A
- Tripp Lite
- Vertiv Co.
For more information about this report visit https://www.researchandmarkets.com/research/q28pg7/thailand_ups?w=4
