PORTLAND, Ore., Feb. 4, 2021
Increase in demand for reliable power solutions for supporting large-scale manufacturing facilities drive the growth of the global uninterrupted power supply system market.
PORTLAND, Ore., Feb. 4, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Uninterrupted Power Supply System Market by Type (Online, Offline and Line interactive), Rating (<5KVA, 5-<50 KVA, 50-200 KVA, and >200 KVA), and End User (Residential, Industrial, and Commercial): Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global UPS system industry generated $7.4 billion in 2019, and is expected to garner $9.4 billion by 2027, witnessing a CAGR of 4.3% from 2020 to 2027.
Prime determinants of growth
Increase in demand for reliable power solutions for supporting large-scale manufacturing facilities and surge in adoption from residential and commercial sectors drive the growth of the global uninterrupted power supply system market. However, high maintenance cost of UPS systems hinders the market growth. Contrarily, advancements such as Lithium-ion (Li-ion) batteries with high operating temperature create new opportunities in the market.
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The online segment to maintain its leadership status during the forecast period
Based on type, the online segment accounted for the highest market share in terms of revenue, contributing to around two-fifths of the global uninterrupted power supply system market in 2019, and will maintain its leadership status during the forecast period. This is due to the dual conversion design of online UPS systems that isolates the load during irregularities in main power supply. However, the line-interactive segment is projected to witness the highest CAGR of 5.3% from 2020 to 2027. This is attributed to wide scope of application of line interactive UPS system in small businesses and departmental servers.
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The industrial segment to maintain its highest contribution in terms of revenue by 2027
Based on end-user, the industrial segment accounted for the largest share in 2019, holding around two-fifths of the global uninterrupted power supply system market, and is projected to maintain its highest contribution in terms of revenue by 2027. Moreover, this segment is estimated to manifest the fastest CAGR of 4.9% during the forecast period. This is due to rise in demand for steady power supply in the industrial sector and the need to operate the electrical equipment with the same efficiency under blackouts. The report also analyzes the segments including residential and commercial.
North America to maintain its lead position throughout the forecast period
Based on region, North America contributed to the largest market share in 2019, accounting for more than two-fifths of the global UPS system market, and will maintain its lead position throughout the forecast period. This is due to rise in demand for industrial and commercial UPS systems and sudden blackouts in the U.S. Moreover, Asia-Pacific is projected to portray the largest CAGR of 5.1% from 2020 to 2027, owing to surge in number of industrial booms in emerging economies such as China, India, and Japan.
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