LONDON--(BUSINESS WIRE)--The new industrial uninterruptible power supply market research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the industrial uninterruptible power supply market.
"One of the primary growth drivers for this market is the growing demand for power backup solutions,” says a senior analyst for the industrials industry at Technavio. The vendors should focus on growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the industrial uninterruptible power supply market size to grow by USD 1.28 billion during the period 2020-2024.
Industrial Uninterruptible Power Supply Market Segment Highlights for 2020
- The industrial uninterruptible power supply market is expected to post a year-over-year growth rate of 6.00%.
- Based on the power rating, the 1-10 kVA segment saw maximum growth in 2019. The growing demand for power backup solutions is driving the segment.
- The growth of the segment will be significant during the forecast period.
- 41% of the growth will originate from the APAC region.
- The government initiatives for industrial development will significantly influence the industrial uninterruptible power supply market's growth in the APAC region.
- China and Japan are the key markets for industrial uninterruptible power supply in APAC. This report provides an accurate prediction of the contribution of all segments to the growth of the industrial uninterruptible power supply market size.
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- The industrial uninterruptible power supply market size is expected to accelerate at a CAGR of almost 7% during the forecast period.
- The industrial uninterruptible power supply market is segmented by power rating (1-10 kVA, 10.1-20 kVA, 20.1-100 kVA, and 100.1 kVA and above), geography (APAC, North America, Europe, MEA, and South America), and end-user (Transport infrastructure, Refining and petrochemical, Process industry, Power, and Oil and gas).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including ABB Ltd., AEG Power Solutions BV, AMETEK Inc., Eaton Corporation Plc, Emerson Electric Co., Fuji Electric Co. Ltd., Langley Holdings Plc, Legrand SA, Mitsubishi Electric Corp., and Schneider Electric SE.
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