DUBLIN--(BUSINESS WIRE)--The "Uninterruptible Power Supply (UPS) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The uninterruptible power supply (UPS) market is expected to register a CAGR of greater than 8% during the forecast period.
Companies Mentioned
- Riello Elettronica S.P.A.
- EATON Corporation plc
- Emerson Electric Co.
- Delta Electronics, Inc.
- ABB Ltd
- Schneider Electric SE
- Hitachi, Ltd.
- Mitsubishi Electric Corporation
- General Electric Company
- Power Solutions Sdn Bhd
- Aspex Inc.
Key Market Trends
Data Centers Segment Expected to Witness Significant Growth
- With the advent of 5G and the growth of artificial intelligence (AI) and machine learning (ML), data center construction and deployment and upgrading efforts in existing data centers are booming. The global datasphere is expected to grow from 33 zettabytes in 2018 to more than 175 zettabytes of data by 2025.
- Asia-Pacific is one of the fastest growing datasphere regions across the world. Moreover, the datasphere of China is growing at a significant pace and is outpacing the global datasphere by 3% annually, on average. Adding to this, industry experts have also stated that the data center capacity in the region is expected to be doubled in the next three years. This, in turn, is expected to create a significant demand for UPS in the coming years.
- Major data corporations have massive data centers, globally. For instance, Google has 15 data centers across four continents and a massive cloud map of servers hosted elsewhere, and Facebook has nine data centers, with six of these in the United States.
- One of the biggest challenges in the data centers is processing high volumes of data at high speeds. Edge computing may be the next major technology trend after the cloud, which describes an environment where data processing takes place as close as possible to the data source. This is expected to ensure speed and low latency, which are likely to help in meeting 5G's performance goals. However, there may still be a need for central data centers, in order to handle applications' less latency-critical needs, thereby creating demand for power backup solutions in data centers.
- Additionally, in March 2021, NextDC announced that construction has started for the S3 data center in Sydney. The facility is likely to be 34,000 square meters over eight stories and is likely to deliver more than 20,000 sq m of data center floor space and 4,000 sq m of critical office space. This helps in creating positive growth for the data centers segment, which, in turn, increases the demand for UPS market in the country.
Asia-Pacific Expected to be the Fastest Growing Market
- The Asia-Pacific region has dominated the uninterruptible power supply (UPS) market in recent years, and it is likely to maintain its dominance during the forecast period. Factors such as the growing prominence of cloud computing and data centers is expected to drive the UPS system market in Asia-Pacific region.
- Moreover, Asia-Pacific is one of the fastest growing datasphere regions across the world. Also, the datasphere of China is growing at a significant pace and is outpacing the global datasphere by 3% annually, on average. Adding to this, industry experts have also stated that the data center capacity in the region is expected to be doubled in the next three years. This, in turn, is expected to create a significant demand for UPS especially in data centers segment soon.
- Power cuts and variable power supply causes significant damage to industries and business which rely heavily on good quality electricity for smooth operations, but in developing countries like India and China, maintaining good quality power is difficult task for the authorities.
- For instance, according to invest India, by 2026-27, all India power generation installed capacity is expected to be nearly 620 GW, 38% of which will be from coal and 44% from renewable energy. India's aim to diversify its energy sources and the target to provide 24x7 electricity supply to all, by making a large addition of renewable energy generation capacities, is estimated to be a significant driver for the market studied. Moreover, the growing electricity demand, increasing disposable income, and the need for a reliable power supply is expected to support the UPS market in India during the forecast period.
Key Topics Covered:
1 INTRODUCTION
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD million, till 2026
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.8 Assessment of COVID-19 Impact on the Industry
5 MARKET SEGMENTATION
5.1 Capacity
5.2 Type
5.3 Application
5.4 Geography
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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