Uninterruptible Power Supply or UPS systems offer backup power during power outages and voltage fluctuations, ensuring continuous power supply to critical loads such as servers, medical equipment, industrial controls and telecom infrastructure. UPS systems are available in three main categories comprising Offline/ Standby, Line-interactive and Online/Double-conversion uninterruptible power supply. While traditional UPS systems offer steady backup power through battery technology, modular UPS systems provide enhanced flexibility, scalability and redundancy. Modular UPS systems comprises independent modularly designed components that can be hot-swapped or added as per changing load requirements, ensuring continuous runtime even during maintenance activities. Their scalable and flexible design make modular UPS ideal for rapidly growing IT infrastructure and edge computing applications.
The global Uninterruptible Power Supply Market is estimated to be valued at US$ 8.63 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the uninterruptible power supply market size is the rising adoption of intelligent UPS systems. Intelligent UPS systems utilize AI and IoT technologies to offer enhanced monitoring, data analytics and predictive maintenance capabilities. They provide detailed insights into energy usage, runtime estimates, battery performance and system health through cloud-based monitoring portals. This allows administrators to take preventive measures, reduce downtimes and optimize total cost of ownership. Another trend is the growing prominence of lithium-ion batteries for UPS applications. Lithium-ion batteries provide higher energy density, longer lifecycle and faster recharging in comparison to traditional lead-acid batteries. Their compact modular design also complements scalable modular UPS architectures.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the uninterruptible power supply market is moderate. New entrants face challenges such as high initial investment costs and strong competition from existing players.
Bargaining power of buyers: The bargaining power of buyers is high. Buyers have several options to choose from in terms of brands and product offerings. This gives them influence over prices.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. There are many raw material suppliers and switching costs are low. However, suppliers still hold some power over prices.
Threat of new substitutes: The threat of new substitutes is low. There are few products that can provide backup power like generators but UPS systems offer advantages in terms of size and ease of use.
Competitive rivalry: The competitive rivalry is high. The market is dominated by few global players who compete intensely on factors like pricing, brand value, and product innovation.
Key Takeaways
The global uninterruptible power supply market is expected to witness high growth.
Regional analysis: The Asia Pacific region is the fastest growing as well as the largest market for UPS systems. China, India, Japan, and South Korea are major countries driving the demand. Initiatives to strengthen infrastructure and increasing focus on reduction of power outages are fueling the adoption of UPS in this region.
Key players: Key players operating in the uninterruptible power supply market are Inmarsat GHL (Connect Bidco Limited), Windward Limited, Amplify Mindware Private Limited, Spire Global, Inc., ProGen Business Solutions Private Limited, Spark Cognition Inc., Wartsila Oyj Abp, Prisma Electronics SA (Laros), U-Ming Marine Transport Corporation, and ABB Ltd.
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