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UPS Battery Market Size

ID: MRFR//8981-HCR | 111 Pages | Author: Anshula Mandaokar| July 2024

The UPS battery market is affected by different market factors that by and large shape its elements and development direction. One of the essential drivers is the rising interest for continuous power supply in different businesses. As organizations and basic framework become more dependent on electronic gadgets and frameworks, the requirement for solid power reinforcement arrangements, for example, UPS batteries, has flooded. This rising interest is frequently ascribed to the developing attention to the potential misfortunes related with influence interruptions, going from information defilement to creation personal times.

The UPS battery market is also significantly influenced by technological advancements. As battery progresses continue to create, producers can make batteries with additional created execution, capability, and strength. Lithium-molecule batteries, for example, have gotten energy in the UPS market in view of their higher energy thickness and longer future appeared differently in relation to standard lead-destructive batteries. This change in innovation is reshaping the cutthroat scene of the UPS battery market as organizations endeavor to remain ahead by embracing and developing in the domain of battery innovation.

Besides, ecological worries and manageability are turning out to be progressively powerful factors in the UPS battery market. As associations center around lessening their carbon impression and taking on greener practices, there is a developing interest for eco-accommodating and energy-proficient UPS battery arrangements. This has prompted the advancement of batteries with lower ecological effect, better recyclability, and further developed energy proficiency, lining up with worldwide endeavors to address environmental change and advance feasible practices.

The UPS battery market is also significantly shaped by market regulations and standards. To guarantee the safety, dependability, and performance of UPS batteries, strict guidelines are being implemented by governments and regulatory bodies. Consistence with these principles is fundamental for producers to acquire market acknowledgment and fabricate trust among buyers. Moreover, the market's advancement is supported by guidelines pointed toward bringing down the utilization of risky materials and expanding energy proficiency.

The merciless scene of the UPS battery market is depicted by the presence of a couple of focal members seeking slice of the pie. Continuous innovation, price competition, and strategic collaborations among businesses are the outcomes of intense competition. Market union through consolidations and acquisitions is one more essential pattern, as organizations try to fortify their market position and grow their item portfolios.

Monetary factors likewise impact the UPS battery market, as changes in the worldwide economy can affect speculation choices and capital consumption across different enterprises. The demand for UPS batteries is influenced by the purchasing power of businesses and consumers, which is directly influenced by the economic health of regions or nations.

All in all, the UPS battery market is molded by a blend of variables that envelop mechanical headways, natural contemplations, administrative guidelines, serious elements, and monetary circumstances. The requirement for trustworthy power reinforcement arrangements and the developing dependence on electronic gadgets keep on driving interest for UPS batteries. To stay cutthroat in a dynamic and quickly evolving market, producers are constrained to improve and adjust.

Covered Aspects:

Report Attribute/Metric Details
Growth Rate 11.00% (2024-2032)

Global UPS Battery Market Overview:

The UPS Battery Market Size was valued at USD 0.8 Billion in 2022. The UPS Battery market industry is projected to grow from USD 0.88 Billion in 2023 to USD 2.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.00% during the forecast period (2024 - 2032). Quickly expanding cloud computing technologies or the round-the-clock reliance on network services for ensuring business continuity are the key market drivers boosting the market growth of UPS.

UPS Battery Market Overview

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

UPS Battery Market Trends

  • Growing digitization and automation are driving the market growth

The market CAGR for UPS batteries is driven by increasing digitalization and automation. The use of UPS batteries confirms that electrical devices and computers or any other devices remain in safe working order. The increased use of modular UPS systems, the increasing demand for collocation facilities, and the enlarging demand for UPS in IT infrastructure and BFSI are the primary factors driving the UPS battery market growth globally. Further, the growing demand for data centers is propelling the industry forward.

Additionally, the UPS market is expanded by increasing advances in data centers. Networking systems, servers, and storage resources comprise a data center, which arranges, stores, and processes data and information. Data centers are where an organization's essential applications are hosted. UPSs are used in data centers to provide backup power for a longer period since data centers require an undisturbed and stable power supply for proper networking, and power failures in data centers can disrupt operations and result in financial losses.

The installation cost for UPS systems is a major concern despite being a reliable and greatly responsive system guaranteeing a quick power supply. For instance, the number of private venture and equity capital dealers in startups in India raised from 628 in the previous year to 858 in 2021. Further, corporate premises on a large-scale run into dollars for the machinery alone. These major installations also need an infrastructure setup that can significantly increase the total setup cost. This makes it unaffordable and out of reach for the general public, hampering the market's growth.

The outbreak affected supply chains and business revenues due to border closings, factory shutdowns, and trade bans worldwide. However, with the launch of several markets globally, vaccination development, and initiatives taken by several governments to help economic & industrial growth, the future demand for UPS and UPS batteries is projected to grow positively and steadily in the coming years. Thus, driving the UPS Battery market revenue.

UPS Battery Market Segment Insights:

UPS Battery, Battery-Type Insights

The UPS Battery market segmentation, based on battery type, includes lead Acid, Nickel Cadmium, Li-ion, and Others. The li-ion segment dominated the market, accounting for the largest market revenue. This is attributed to higher energy density, lower self-discharge rate, and more stability than other types of batteries.

UPS Battery Organization Size Insights

The UPS Battery market segmentation, based on organization size, includes small and medium enterprises (SMEs) and large enterprises. The small and medium enterprises (SMEs) category generated the most income. This is attributed to the quick upgradation of small and medium enterprises globally. Small and medium enterprises sectors are highly dynamic as it helps in the region's socio-economic development. Furthermore, large enterprises are always involved in boosting this sector during the forecast period.

Figure 1: UPS Battery Market by Organization Size, 2024 & 2032 (USD Billion)

UPS Battery Market by Organization Size

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

UPS Battery Application Insights

The UPS Battery market segmentation, based on application, includes residential, commercial, data centers, and industrial. The industrial category recorded the highest growth owing to increasing requirements for energy storage systems and efficient power backup in several industries such as chemical manufacturing, power generation, recreation equipment, marine, and agricultural machinery & equipment. The use of small-sized lithium-ion batteries in portable devices and other consumer electronics is anticipated to boost market growth during the forecast period.

However, the commercial sector is expected to show significant growth during the forecast period since it is widely used in different applications like server rooms, large data centers, computer rooms, and other workstations. This segment covers offices, commercial buildings, and data centers.

UPS Battery Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American UPS battery market will dominate this market, owing to increasing demand from end-users, rising concerns of power outages, and the growing installation of backup power systems will boost the market growth in this region. Further, the US UPS battery market held the largest market share, and the UK UPS battery market was the fastest-growing market in the North American region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: UPS Battery Market Share By Region 2022 (USD Billion)

UPS Battery Market Share By Region 2022

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

Europe UPS battery market accounts for the second-largest market share due to the growing demand for non-residential infrastructure driving the market in this region. Further, the German UPS battery market held the largest market share, and the UK UPS battery market was the fastest-growing market in the European region.

The Asia-Pacific UPS battery market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to industrialization, urbanization, increased disposable income in developing countries, and favorable regulations to attract regional investments. Moreover, China’s UPS battery market held the largest market share, and the Indian UPS battery market was the fastest-growing market in the Asia-Pacific region.

UPS Battery Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the UPS battery market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the UPS battery industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the UPS battery industry to benefit clients and increase the market sector. Major players in the UPS battery market, including CSB Energy Technology Co., Ltd. (Taiwan), East Penn Manufacturing (US), Eaton (Ireland), Exide Industries Ltd. (India), FIAMM Energy Technology S.p.A. (Italy), GS Yuasa Corporation (Japan), and others, are attempting to increase market demand by investing in research and development operations.

Legrand SA is an electrical and digital building infrastructure company. The company designs, manufactures, and distributes electrical installations and power distribution products and systems. The company offers various products, including electrical and digital infrastructures in buildings, such as energy and data flow distribution, cable management and installation components, controls, and command products and systems. Its products find applications in offices, hotels, shopping centers, data centers, smart grids, and reference sites, among others. It serves commercial, industrial, and residential customers. In January 2021, Legrand Group's UPS brand in India, Numeric, announced the launch of its 3-Phase UPS Battery, Keor MOD. The firm said the development is designed to meet the needs of the IT, ITeS, data centers, infrastructure, and healthcare industry.

Fuji Electric Co Ltd is a developer of electrical products. Its business operations include thermal, geothermal, and hydraulic power generation; nuclear power-related equipment; solar power generation systems; energy management systems; watt-hour meters; and information systems. The company also offers transmission and distribution equipment, industrial power supply equipment; industrial drive systems, heating, and induction furnace equipment; factory energy management systems; data centers, clean room facilities; plant control systems, measurement systems, and radiation monitoring systems. Fuji Electric also installs electrical and air conditioning equipment; inverters/servo systems; motors; EV systems; transport systems; and uninterruptible power supply systems. In June 2019, Fuji Electric Co., Ltd launched the 7400WX-T3U, a high-capacity, uninterruptible power supply system, to strengthen its overseas power supply business.

Key Companies in the UPS Battery market include

  • CSB Energy Technology Co., Ltd. (Taiwan)

  • East Penn Manufacturing (US)

  • Eaton (Ireland), Exide Industries Ltd. (India)

  • FIAMM Energy Technology S.p.A. (Italy)

  • GS Yuasa Corporation (Japan)

  • Leoch International Technology Limited (Hong Kong)

  • Schneider Electric (France)

  • Vertiv (US)

  • EnerSys (US)

  • Active Power (US)

  • Socomec (France)

  • Toshiba Corporation (Japan)

  • Kehua Data Co., Ltd. (China)

  • Kokam Co., Ltd (South Korea)

  • Saft Batteries (France)

UPS Battery Industry Developments

February 2021: Barrel Energy, a lithium-ion battery manufacturer based in the US, signed a memorandum of understanding with Hyderabad-based Roshan Energy Technologies to develop and manufacture lithium-ion batteries in India and North America. Barrel Energy stated that the company would become a majority stakeholder in Roshan Technologies to expand its Indian and international markets. Roshan Energy will likely provide its technical resources and expertise, while Barrel Energy is expected to help by providing funds and marketing abilities.

In 2020: FIAMM Energy Technology S.p.A. attended the Middle East Energy event from 5 to 7 March. At the event, the company showcased the FLB and FHT ranges with AGM technology suitable for security systems.

UPS Battery Market Segmentation

UPS Battery, Battery-Type Outlook

  • Lead Acid

  • Nickel Cadmium

  • Li-ion

  • Others

UPS Battery Organization Size Outlook

  • Small and Medium Enterprises (SMEs)

  • Large Enterprises

UPS Battery Application Outlook

  • Residential

  • Commercial

  • Data Centers

  • Industrial

UPS Battery Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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