UNINTERRUPTIBLE POWER SUPPLY MARKET ANALYSIS

Uninterruptible Power Supply MarketSize and Trends

The global uninterruptible power supply (UPS) market size was valued at US$ 8.23 Bn in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 4.2% from 2023 to 2030. Increasing demand for modular data centers and infrastructure development trends are driving the growth of the UPS market. Moreover, new technological advancements in UPS battery systems are expected to offer significant opportunities for the market. Manufacturers are continuously focusing on R&D to develop new and effective Uninterruptible Power Supply to meet consumer demands, which is also driving the market growth.

Global Uninterruptible Power Supply (UPS) Market Trends:

Market players launching advanced UPS technologies is a major trend

Some of the companies in the global uninterruptible power supply (UPS) market are focused on introduction of technologically advanced UPS systems, to gain a competitive edge in the market. For instance, in March 2021, Vertiv, a leading critical digital infrastructure provider launched Liebert EXM2. The new systems is a three-phase monolithic UPS that provides double conversion efficiency up to 97%, which can be further increased to 98.8% with the dynamic online mode. This novel UPS offers power capacity that ranges from 100 to 250 kVA and a flexible and compact footprint. Thus, launch of such advanced UPS technology by market players is likely to continue in the market over the forecast period.

Standby UPS system are gaining traction in the market

The rise in demand for consumer electronics around the world is driving the demand for standby UPS systems in comparison with other types of UPS systems. The standby UPS systems are highly preferred for consumer electronics, owing to their cost-efficiency for devices requiring low consumption of power. The demand for consumer electronics such as desktop computers has increased significantly because of the COVID-19 pandemic. This in turn is driving the demand for standby UPS systems, which is expected to augment growth of the global uninterruptible power supply (UPS) market over the forecast period.