September 21 2020
Market Research Future published a research report on “Modular UPS Industry Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Modular UPS Industry - Overview
A modular UPS or uninterruptible power supply is a device which provides emergency electric power in case of disruptive power shutdown. Market Research Future (MRFR) has recently published a report on the Modular UPS Market, covering the essential accruals of the market based on pertinent trends and patterns that can affect the market over the forecast period of 2017-2023. As per MRFR's analysis, the Modular UPS Industry is poised to reach USD 4 Bn at a CAGR of 14% during 2017-2023.
Modular UPS provides various advantage such as high scalability, which has evoked burgeoning demand for modular UPS from diverse verticals such as education, healthcare, government, and others. Major industry giants are exploiting on the opportunity provided by the market and are outlaying massive funds on the development of the technology, which is likely to push the market forward over the forecast period.
Fast-track industrialization and augmenting need for uninterrupted power supply across diverse industries have been key to market growth. Speedy expansion of interrelated industries such as telecommunications and data centers has also proven to be fruitful for the modular UPS market growth. The need to protect sensitive and costly devices from abrupt power failure has induced heavy demand within the modular UPS market as damage to devices can prove to be prohibitively costly in these industries. Proliferating IT industry in developing regions of the globe has added fuel to the growth of the market.
Other factors which are nurturing the market growth include rising automation across industries which demands uninterrupted power supply and falling prices of electronic components such as batteries, super-capacitors, and others.
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Conversely, the growth of the market is at threat from major bottlenecks, which include high costs aligned with the installation and maintenance of UPS. Moreover, increasing improvement of power infrastructure in various regions and growing reliability of power sources has reduced the need for backup power. Furthermore, the lack of awareness regarding the benefits of UPS in certain regions can constrain market growth over the forecast period.
The global market of Modular UPS Market is segmented by component and vertical.
By component, the market is segmented into services and solutions. The services segment is likely to thrive at a high CAGR across the forecast period. The services segment is sub-segmented into professional services and integration services. The integration services segment is estimated for a high growth rate due to increase in service requirements. The solution segment is narrowed down to 10-100 kVA, 101-250 kVA, 251-500 kVA, and above 500 kVA. A modular UPS featuring energy efficacy, improved performance solutions, cost-effectiveness, and less maintenance hazels is gaining high popularity among people. This is expected to gain goof traction for the market. By vertical, the market is segmented into BFSI, defense, manufacturing, data centers, media & entertainment, it & telecommunication, healthcare, and others. The increase in the application of modular USP across different verticals can prompt its market growth.
The prominent players in modular UPS global market are – ABB Group (Switzerland), Emerson Electric Co. (U.S.), Eaton Corporation PLC (Ireland), Huawei Technologies Co. Ltd. (China), Schneider Electric SE (France), General Electric (U.S.), Delta Electronics, Inc. (Taiwan), Gamatronic Electronic Industries Ltd. (Israel), Riello Electronica Group (Italy), Tripp Lite (U.S.) among others.
The Asia Pacific modular UPS market expected for a sharp rise. The APAC market is expected to secure the largest share of the global market in the forecast period. Regions, such as Japan, India, and China are likely to spearhead in the market growth line. The presence of different key players in the region and the developing economy of the market is expected to upscale the regional market. The rise in demand modular USP systems for data center and increase in the number of data centers are identified as major causes that are likely to drive the APAC market. High research and development undertakings contributing to design and development of new technologies are expected to benefit the modular UPS market in both Europe and North America. The rise in demand for modular UPS solutions in the IT and telecommunication industry, followed by the healthcare and the manufacturing industry, is likely to boost the North America market. The United States market is expected to lead the growth curve. An increase in the number of colocations services is expected to favor the US modular UPS market.
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TABLE OF CONTENTS
LIST OF FIGURES
Figure 1 Research Type
Figure 2 Modular Ups Market, By Component (%)
Figure 3 Modular Ups Market, By Vertical (%)
Figure 4 Modular Ups Market, By Regions (%)
Figure 5 North America Modular Ups Market, By Component (%)
Figure 6 North America Modular Ups Market, By Vertical (%)
Figure 7 Europe Modular Ups Market, By Component (%)
Figure 8 Europe Modular Ups Market, By Vertical (%)
Figure 9 Asia-Pacific Modular Ups Market, By Component (%)
Figure 10 Asia-Pacific Modular Ups Market, By Vertical (%)
Figure 11 Rest Of The World Modular Ups Market, By Component (%)
Figure 12 Rest Of The World Modular Ups Market, By Vertical (%)
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