August 28, 2020
According to the research report titled ‘UPS Market Size By Component, By Application, By End-Use (SMEs, Large Enterprises), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026‘, available with Market Study Report LLC, global UPS market is anticipated to witness tremendous growth during 2020-2026.
Increasing number of online services driven by rising urbanization and industrialization is propelling the growth of global UPS market. For the records, UPS provides backup power when main input power fails or when voltage drops down to insufficient level. Introduction of energy efficient and green UPS solutions are augmenting the market outlook.
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However, high expense of maintenance, repair, and installation of professional solutions, alongside heft cost of hiring skilled technicians are restraining the growth of UPS Market.
Based on end-use scope, the market is classified into SMEs and large enterprises. As per the report, UPS demand from large enterprises is anticipated to surge owing to increasing establishment of large-scale IT facilities in various industry verticals. Large enterprises that are internationally operated are setting up mega-facilities across different regions worldwide, contributing to the market growth.
With respect to application spectrum, the market is categorized into media & entertainment, residential, BFSI, manufacturing, healthcare, IT & telecom, data centers, and others. Among these, the others segment is likely to witness modest growth in the ensuing years, due to increasing deployment of UPS in hotel industry to offer power backup to several technologies that are installed in the facility.
From regional frame of reference, North America UPS market is likely to grow significantly through 2026, owing to the rising online services in the region. Meanwhile, Europe UPS market is reckoned to showcase rapid expansion during forecast period, owing to rapid industrialization. Rising utilization of latest technologies in automobile manufacturing sector will boost the demand for efficient power backup systems across Europe.
Key players operating in global UPS market are Vertiv Holdings Co., EnerSys, Toshiba Corporation, Mitsubishi Electric Corporation, Microtek International Pvt. Ltd., Techser Power Solutions Pvt. Ltd., SolarEdge Solution (Gamatronic), Riello Elettronica Group, Kstar New Energy Co., Ltd., Socomec S.A., Emerson Electric Co., Eaton Corporation, Legrand, Huawei Technologies Co., Ltd., ABB Ltd., Ablerex Electronics Co., Ltd., Siemens AG, Schneider Electric SE, Delta Power Solutions Pvt. Ltd., and Arabian Power Electronics Company.