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Uninterruptible Power Supply UPS Market Analysis

ID: MRFR//5160-CR | 128 Pages | Author: Priya Nagrale| March 2024

Throughout the years, countries like India, China, and various emerging economies have grappled with inconsistent power supply issues, making uninterrupted power supply during peak hours crucial. The necessity for high-quality UPS (Uninterruptible Power Supply) systems has gained traction, especially in commercial and residential areas situated distantly from power grid stations. Shielding connected devices from frequent power fluctuations stands as a prime driving factor fueling the market's growth trajectory. Leveraging these devices intelligently against power surges, voltage drops, and frequency distortions optimizes damage control and minimizes downtime.

Furthermore, natural disasters like cyclones, heavy rainfall, as well as human-induced errors such as overloads and operational mishaps, pose significant challenges in maintaining uninterrupted power supply. These issues contribute to the burgeoning UPS market as they make it challenging for power suppliers to furnish sufficient electricity for seamless appliance operation. Smaller UPS devices serve as a crucial interface between the primary power source and connected devices, offering consistent power backup during erratic power supply scenarios. Therefore, the imperative for efficient UPS systems to fulfill power demands during peak hours is driving their widespread adoption.

As an illustration, Eaton Corporation, a key UPS manufacturer, provides the Eaton 3P UPS, a top-tier battery backup UPS. This product boasts EcoControl functionalities and safeguards over 10 home appliances. With an ability to save more than 30% energy compared to conventional battery backups, this UPS offers plug-and-play compatibility, facilitating automatic integration with other devices. Similarly, renowned companies like ABB Ltd, Schneider Electric, among others, offer highly efficient UPS systems on a substantial scale.

These UPS systems stand as essential solutions to the pressing need for consistent, reliable power supply amidst fluctuating power scenarios and serve as a vital safeguard against potential damages caused by power instability. As the demand for seamless and uninterrupted power continues to rise, innovations and advancements in UPS systems are expected to witness further growth and technological enhancements in the global UPS market.

Covered Aspects:

Report Attribute/Metric Details
Segment Outlook Rating, Product Type, Component, Application, and Region

Global Uninterruptible Power Supply Market Overview

Global uninterruptible power supply (UPS) market size was valued at USD 8,018.79 million in 2022. The uninterruptible power supply (UPS) market industry is projected to grow from USD 8,562.46 million in 2023 to USD 16,074.96 million by 2030, exhibiting a compound annual growth rate (CAGR) of 9.42% during the forecast period (2024 - 2030). The rising demand for data storage and processing capabilities, driven by the proliferation of digital services, cloud computing, and big data analytics, is a major driver for the UPS market. 

Data centers require reliable power protection to ensure uninterrupted operation and prevent data loss, making UPS systems essential for maintaining business continuity in the event of power disruptions. Also, the widespread adoption of IT infrastructure across various industries, including telecommunications, banking, healthcare, and e-commerce, is fueling the demand for UPS solutions. As organizations become increasingly dependent on digital technologies and electronic systems, the need to safeguard critical equipment from power disturbances and outages is propelling the deployment of UPS systems.

Uninterruptible Power Supply Market Overview

 Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Uninterruptible Power Supply Market Trends

  • Rising Need For High-Quality, Efficient Ups For Continuous Power Supply

The demand for UPS solutions is likely to grow significantly over the forecast period due to the need for high-quality and efficient systems that provide a continuous power supply. Understanding the need to maintain a constant power supply during peak hours has become increasingly important. The need for high-quality UPS systems is gaining pace due to the unprecedented demand for power owing to the growing population. Furthermore, the need for protective equipment is increasing in digitally dependent economies such as Germany, the UK, and France. The major manufacturing facilities such as retail, healthcare, telecom, and other commercial and residential sector end-users are recognizing the value and need of the power protection and efficient power storage capabilities offered by the modular uninterruptible power supply (UPS). Moreover, the need to protect connected devices from frequent power fluctuations is anticipated to be one of the driving factors for the growth of this market. The intelligent use of these devices against power surges, voltage drops, and frequency distortions, along with the emergency need for power, helps optimize the damage that occurred due to downtime.

  • Increasing Construction Of Data Centers Around The World

The global UPS (Uninterruptible Power Supply) market is growing rapidly, largely due to the increasing construction of data centers around the world. This growth is driven by the rising demand for data storage and processing, the expansion of cloud computing, and the need for reliable power protection and backup solutions. As of September 2023, the United States had the highest number of data centers worldwide, with 5,375 reported, followed by Germany with 522 and the United Kingdom with 517. This surge in data center construction is fueling the demand for UPS systems, which are essential for ensuring uninterrupted power supply and safeguarding critical IT infrastructure. With the ongoing development of data center infrastructure, the UPS market is expected to experience substantial expansion in the coming years, presenting significant opportunities for industry growth and innovation.

  • Growing Need For Emergency Power In Remote Areas

The need for emergency power in remote areas is a significant driver of the growth in the UPS (Uninterruptible Power Supply) market. As the world becomes increasingly interconnected and reliant on digital technologies, the demand for reliable power solutions in remote locations has intensified. One of the primary drivers of the UPS market growth in remote areas is the expansion of critical infrastructure, such as telecommunications networks, oil and gas facilities, and renewable energy installations. These remote sites often operate in challenging environments with limited access to reliable grid power, making them highly susceptible to power outages and disruptions. To ensure the continuous operation of critical infrastructure, UPS systems are deployed to provide emergency power backup, safeguarding against potential downtime and protecting sensitive equipment and data. The increasing investment in remote critical infrastructure projects, driven by the need to support global connectivity and sustainable energy initiatives, is fueling the demand for UPS solutions tailored to the unique requirements of these remote locations.

Uninterruptible Power Supply Market Segment Insights:

Uninterruptible Power Supply by Rating Insights

The Uninterruptible Power Supply Market segmentation, based on Rating has been segmented as <5KVA, 5-<50KVA, 50-200KVA, and >200kVA. Among these, the 5-<50KVA Component is projected to dominate the Uninterruptible Power Supply Market revenue through the projected period. < UPS systems within the 5-50KVA range cater to medium-sized businesses, data centers, and industrial applications, boasting increased power capacity for supporting multiple devices and critical infrastructure. Crucial for mid-sized enterprises, these systems ensure uninterrupted operations. Notably, they often feature advanced capabilities such as scalability and enhanced monitoring, aligning with the evolving needs of businesses requiring robust and flexible power backup solutions to sustain continuous and reliable operations.

Uninterruptible Power Supply by Product Type Insights

The Uninterruptible Power Supply Market segmentation, based on product type, the market is segmented as Off-Line/Standby, Line Interactive, Online/Double Conversion. Out of which the Off-Line/Standby segment dominated base year market and is also projected to be holding a dominating share in the forecasted period as well. UPS comprises in-built transformers, switches, inverters, and others. Offline/standby UPS systems operated through battery inverters remain off. However, the system automatically switches on in case of a power breakdown. Offline UPS systems offer a switching time of less than 5ms and provide power backup only for a small duration. Offline UPS are commonly used with low power tolerance appliances such as computers, TV sets, and others. These systems are cost-efficient, compact, and an obvious choice for providing backup to smaller appliances. Consequently, offline UPS systems are expected to dominate the UPS market with the highest market share by product type during the forecast period.

Uninterruptible Power Supply by Component Insights

The Uninterruptible Power Supply Market segmentation, based on Component, the market is segmented as rectifier, batteries. inverter, static bypass switch, capacitors, fans, others. Out of which the  Batteries segment dominated base year market and is also projected to be holding a dominating share in the forecasted period as well. Batteries in UPS systems serve the fundamental function of storing electrical energy, ready to be deployed during power outages. Their critical importance lies in sustaining an uninterrupted power supply during disruptions to the main power source. Various types of batteries, such as lead-acid, lithium-ion, and nickel-cadmium, are commonly employed. These diverse battery technologies offer flexibility to UPS systems, enabling them to meet specific energy storage requirements while ensuring reliable backup power for crucial applications during unforeseen electrical interruptions.

Uninterruptible Power Supply by Application Insights

The Uninterruptible Power Supply Market segmentation, based on Application, the market is segmented as telecommunication, data center, medical, industrial, Marine, others. Out of which the Data Centre segment dominated base year market and is also projected to be holding a dominating share in the forecasted period as well. The industry is witnessing enormous data generation due to the growth of digital infrastructure for enterprises. The uninterrupted power supply is considered the linchpin of any data center, offering businesses vital data protection solutions and a backup power supply. Power fluctuations can damage hardware, dismantle workload, and affect the service level agreements (SLAs). The UPS systems are installed in data centers to prevent damage from occurring due to frequent power cuts. Mostly online/double-conversion UPS systems with power capacity ranging from 50kVA to 200kVA are used in data centers. These systems are connected to an inverter all the time and act as a bridge between the IT equipment and power supply.

Uninterruptible Power Supply Regional Insights

By Region, the study segments the Uninterruptible Power Supply market into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The sizable Uninterruptible Power Supply industry in North America is likely to make the region the largest expanding global market for Uninterruptible Power Supply. The market in North America is categorized into the US, Canada, and Mexico. The market is mainly driven by increasing demand for UPS technology in healthcare and pharmaceutical applications, an increase in sales of three-phase UPS systems for industrial applications, developments in the telecommunication industry, and increasing demand for UPS technology in healthcare and pharmaceutical applications. North America possesses sophisticated medical equipment for diagnosing patients. The sophisticated medical equipment used in hospitals are power sensitive, and frequent power fluctuations may deteriorate the reliability of the medical devices. Thus, an increase in demand for intelligent power backup systems for running medical equipment is likely to propel the demand for UPS technology in healthcare applications.

Uninterruptible Power Supply Key Market Players & Competitive Insights

regional market is highly competitive, with all the players continually competing to gain a larger market share. The vendors compete based on cost, product quality, reliability, and aftermarket services. Therefore, vendors must provide cost-effective and efficient products to survive and succeed in a competitive market environment.

Schneider Electric, Eaton Corporation, Emerson Electric Co., ABB Ltd., Toshiba Corporation, Delta Power Solutions, Kenjitsu , Huawei Technologies Co., Ltd., Siemens, Potencia Industrial, AMETEK Solidstate Controls, PowerShield, , Magellan Power, , Riello UPS Australia Pty Ltd., are the major players in the market, competing in terms of variety of applications of global Uninterruptible Power Supply (UPS) and their components, as well as efficiency, reliability, affordability, and advanced technology. The primary focus of the players is to provide advanced products to aid in increasing adoption, which could help strengthen a country's growth with advanced products. Although global players dominate the market, a few regional and other local players with a limited market share also have a prominent presence in this market.

The major players would look to strengthen their global presence through mergers and acquisitions of local and regional players; they are expected to expand their presence and solutions in those countries during the forecast period. Therefore, vendors must develop new technologies to stay at par with emerging technology trends that could affect the competitiveness of their product lines in the market.

Key Companies in the Uninterruptible Power Supply Market includes

  • ABB Ltd.

  • Delta Power Solutions

  • Eaton Corporation

  • Emerson Electric Co.

  • Huawei Technologies Co., Ltd

  • Kenjitsu

  • Magellan Power

  • Potencia Industrial

  • Powershield

  • Riello UPS Australia Pty Ltd.

  • Schneider Electric

  • Siemens

  • Toshiba Corporation

  • Others

Uninterruptible Power Supply Industry Developments

January 2023:Schneider Electric™, the global leader in the digital transformation of energy management and automation, introduced Easy UPS 3-Phase Modular. This robust uninterruptible power supply (UPS) is designed to protect critical loads while offering third-party verified Live Swap functionality. Easy UPS 3-Phase Modular available in 50-250 kW capacity with N+1 scalable configuration and supports the EcoStruxureTM architecture, which offers remote monitoring services.

June 2022:Schneider Electric™, the leader in digital transformation of energy management and automation and the World’s Most Sustainable Corporation in 2021, as ranked by Corporate Knights, introduced APC Smart-UPS Modular Ultra, the most sustainable uninterruptible power supply (UPS) of its kind. This UPS provides customers with more scalable power in the smallest footprint, freeing up space for critical IT, or other equipment while maximizing uptime and lowering total cost of ownership.

Uninterruptible Power Supply Market Segmentation

Uninterruptible Power Supply Rating Outlook

  • <5KVA

  • 5-<50KVA

  • 50-200KVA

  • >200KVA

Uninterruptible Power Supply Product Type Outlook

  • Off-Line/Standby

  • Line Interactive

  • Online/Double Conversion

Uninterruptible Power Supply Component Outlook

  • Rectifier

  • Batteries

  • Inverter

  • Static Bypass Switch

  • Capacitors

  • Fans

  • Others

Uninterruptible Power Supply Application Outlook

  • Telecommunication

  • Data Centre

  • Medical

  • Industrial

  • Marine

  • Others

Uninterruptible Power Supply Regional Outlook

  • North America

    • US

    • Canada

    • Mexico

  • Europe

    • Germany 

    • France 

    • UK 

    • Italy 

    • Rest of Europe

  • Asia-Pacific

    • China 

    • India 

    • Japan 

    • South Korea

    • Rest of Asia-Pacific

  • Rest of World

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