Uninterruptible Power Supply (UPS) Market Size
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 11.72 Billion |
| Market Size (2029) | USD 14.30 Billion |
| CAGR (2024 - 2029) | 4.05 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players_Market.webp)
*Disclaimer: Major Players sorted in no particular order |
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Uninterruptible Power Supply (UPS) Market Analysis
The Uninterruptible Power Supply Market size is estimated at USD 11.72 billion in 2024, and is expected to reach USD 14.30 billion by 2029, growing at a CAGR of 4.05% during the forecast period (2024-2029).
- Over the medium term, the rising trend of IoT and smart buildings, a growing number of data centers worldwide, the growing trend of virtualization and cloud computing, and the growing adoption of multi-cloud and network upgrades are also expected to drive the growth of the market studied.
- On the other hand, the high cost of online UPS and a few limitations of UPS for protecting heavy appliances from power failure may negatively impact the market's growth and is one of the major restraints for the market.
- Nevertheless, technological advancements in UPS battery systems, such as new lithium-ion (Li-ion) batteries with high operating temperatures, are expected to create immense opportunities in traditional data centers. UPS systems can also be installed as a backup system when the electricity grid fails and are expected to provide growth opportunities in the forecast period.
- The Asia-Pacific region dominates the market and is likely to register the highest CAGR during the forecast period. The growth is mainly driven by the existing framework of policies supporting the adoption of 5G networks and increasing investments in data center technologies.
Uninterruptible Power Supply (UPS) Market Trends
Standby UPS System Expected to Dominate the Market
- A standby UPS system, also called the offline UPS system, provides the essential features of a UPS system, where it provides battery backup and surge protection. A Standby UPS systems switch to a battery fast enough to prevent power anomalies and ride out short outages, and a standby UPS system protects against most voltage spikes. Still, it does not maintain perfect power during sags and sages.
- The growing demand for consumer electronics across the globe is one of the major drivers for standby UPS systems as compared to other UPS systems, as standby UPS system is the most preferred option for consumer electronics as it is the most economical option for devices with low power consumption.
- For instance, according to the International Data Center (IDC), the global shipment of desktops totaled in the fourth quarter of 2022 to about 17.98 million units compared to the fourth quarter previous year, which was just about 23.37 million. Desktop personal computers face challenges from mobile devices such as laptops and desktops, which is led to an overall decline in sales; however, in the future, it is expected to increase as more professionals work from home.
- Similarly, the demand for gaming consoles is expected to increase during the forecast period and was aided by the coronavirus pandemic as it led to a surge in demand for home entertainment. According to VGChartz, the cumulative sales of current-generation consoles increased from 13.12 million units to 41.6 million units in 2022. A standby UPS is essential for gaming consoles, especially in areas with poor power quality, as unsafe levels of electricity can damage the system.
- Overall, the demand for standby UPS system is primarily expected to come from consumer electronics as offline UPS system provides the devices with the least expensive power backup and protection. It is expected to increase during the forecast period due to the increasing demand for desktop PC and gaming consoles.
Asia-Pacific Expected to Dominate the Market
- The Asia-Pacific region is developing, with frequent blackouts and unstable power supply across the region, especially in countries like Malaysia, Cambodia, the Philippines, and several others. Major end-users of UPS systems in the region include the region's booming industrial and manufacturing, telecom, commercial, and residential sectors.
- In the Asia-Pacific region, the manufacturing sector is one of the major contributors to the economy of various countries, with China being the largest hub of the manufacturing sector. Japan, India, South Korea, and Indonesia are a few major contributors to Asia-Pacific. In contrast, countries like Vietnam, Malaysia, and Singapore are expected to increase their share during the forecast period.
- Automation in the manufacturing sector involving computer-based control systems, Programmable Logic Control (PLC) units, and process control applications has prompted the need for UPS systems in industrial facilities.
- UPS systems provide backup in case of electric power failure and protect equipment from power glitches like power sags, surges, under voltage, over-voltage, line noise, frequency variations, and switching transient and harmonic distortions. Hence, UPS systems have become essential to almost all industries like telecom, engineering, manufacturing, R&D, education, medicine, IT, BPO, aviation, banking, etc.
- The manufacturing sector covers a wide range of industries, including the automotive industry, food processing industry, semiconductors, steel manufacturing, and many more, all requiring power quality equipment like UPS systems for smooth operations as fluctuating and disruptive power causes significant monetary losses to the industries.
- Power cuts and variable power supply cause significant damage to industries and businesses that rely heavily on good quality electricity for smooth operations. However, maintaining good quality power in developing countries like India and China is difficult for the authorities.
- For instance, according to Invest India, by 2026-27, India's power generation installed capacity will likely be nearly 620 GW, 38% of which will be from coal and 44% from renewable energy. India's aim to diversify its energy sources and the target to provide a 24x7 electricity supply by making a large addition of renewable energy generation capacities is estimated to be a significant driver for the market. The growing electricity demand, increasing disposable income, and the need for a reliable power supply are expected to support the UPS market in India during the forecast period.
- Therefore, based on the abovementioned factors, Asia-Pacific is expected to become the fastest-growing UPS market during the forecast period.
Uninterruptible Power Supply (UPS) Industry Overview
The uninterruptible power supply (UPS) market is fragmented. Some of the major players (in no particular order) include Riello Elettronica SpA, EATON Corporation PLC, Emerson Electric Co., ABB Ltd, and Schneider Electric SE.
Uninterruptible Power Supply (UPS) Market Leaders
Emerson Electric Co.
ABB Ltd
Schneider Electric SE
Riello Elettronica SpA
EATON Corporation PLC
*Disclaimer: Major Players sorted in no particular order
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Uninterruptible Power Supply (UPS) Market News
- April 2023: Schneider Electric, the global company in energy management and automation, introduced the UPS 3-Phase Modular. The UPS is designed to protect critical loads while offering third-party verified Live Swap functionality. Easy UPS 3-Phase Modular available in 50-250 kW capacity with N+1 scalable configuration and supports the EcoStruxureTM architecture, which offers remote monitoring services.
- February 2023: Power management company Eaton announced its innovation in industrial backup power with the North American launch of its DIN rail industrial uninterruptible power supply (UPS). It is built to withstand the demanding physical conditions and extreme temperatures of harsh environments. Also, the UPS offers reliable battery backup for Internet of Things (IoT) devices across factories, warehouses, edge locations, and other industrial facilities.
Uninterruptible Power Supply (UPS) Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2029
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Growing Number of Data Centers
4.5.1.2 Growing Adoption of Multi-Cloud and Network Upgrades
4.5.2 Restraints
4.5.2.1 Limitations of UPS for Protecting Heavy Appliances from Power Failure
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Capacity
5.1.1 Less than 10 kVA
5.1.2 10-100 kVA
5.1.3 Above 100 kVA
5.2 Type
5.2.1 Standby UPS System
5.2.2 Online UPS System
5.2.3 Line-interactive UPS System
5.3 Application
5.3.1 Data Centers
5.3.2 Telecommunications
5.3.3 Healthcare (Hospitals, Clinics, Etc.)
5.3.4 Industrial
5.3.5 Other Applications
5.4 Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)})
5.4.1 North America
5.4.1.1 United States of America
5.4.1.2 Canada
5.4.1.3 Rest of North America
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 India
5.4.3.3 Japan
5.4.3.4 Rest of Asia-Pacific
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 United Arab Emirates
5.4.5.3 South Africa
5.4.5.4 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Riello Elettronica SpA
6.3.2 EATON Corporation PLC
6.3.3 Emerson Electric Co.
6.3.4 Delta Electronics Inc.
6.3.5 ABB Ltd
6.3.6 Schneider Electric SE
6.3.7 Hitachi Ltd
6.3.8 Mitsubishi Electric Corporation
6.3.9 General Electric Company
6.3.10 Cyber Power Systems Inc.
6.3.11 Aspex Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rising Technological Advancements in UPS Battery Systems
Uninterruptible Power Supply (UPS) Industry Segmentation
Uninterruptible Power Supply (UPS) is a power quality device that provides continuous and stable power to a critical system load. The device prevents prospective incoming power quality issues from the distribution system, such as interruptions, voltage sags, swells, harmonics, and noise that disrupts the performance of sensitive electronic components and other electrical equipment. It protects equipment susceptible to power quality fluctuations from interruptions and isolates the critical load from power quality issues in the incoming supply.
The uninterruptible power supply market is segmented by capacity, type, application, and geography. By capacity, the market is segmented into less than 10 kVA, 10-100 kVA, and Above 100 Kva. By type, the market is segmented into standby UPS systems, online UPS systems, and line-interactive UPS systems. By application, the market is segmented into data centers, telecommunications, healthcare (hospitals, clinics, etc.), industrial, and other applications. The report also covers the market size and forecasts for the uninterruptible power supply market across major regions. The market sizing and forecasts have been done for each segment based on revenue (USD).
| Capacity | |
| Less than 10 kVA | |
| 10-100 kVA | |
| Above 100 kVA |
| Type | |
| Standby UPS System | |
| Online UPS System | |
| Line-interactive UPS System |
| Application | |
| Data Centers | |
| Telecommunications | |
| Healthcare (Hospitals, Clinics, Etc.) | |
| Industrial | |
| Other Applications |
| Geography (Regional Market Analysis {Market Size and Demand Forecast till 2028 (for regions only)}) | |||||||
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Uninterruptible Power Supply (UPS) Market Research FAQs
How big is the Uninterruptible Power Supply Market?
The Uninterruptible Power Supply Market size is expected to reach USD 11.72 billion in 2024 and grow at a CAGR of 4.05% to reach USD 14.30 billion by 2029.
What is the current Uninterruptible Power Supply Market size?
In 2024, the Uninterruptible Power Supply Market size is expected to reach USD 11.72 billion.
Who are the key players in Uninterruptible Power Supply Market?
Emerson Electric Co., ABB Ltd, Schneider Electric SE, Riello Elettronica SpA and EATON Corporation PLC are the major companies operating in the Uninterruptible Power Supply Market.
Which is the fastest growing region in Uninterruptible Power Supply Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Uninterruptible Power Supply Market?
In 2024, the Asia-Pacific accounts for the largest market share in Uninterruptible Power Supply Market.
What years does this Uninterruptible Power Supply Market cover, and what was the market size in 2023?
In 2023, the Uninterruptible Power Supply Market size was estimated at USD 11.25 billion. The report covers the Uninterruptible Power Supply Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Uninterruptible Power Supply Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
UPS Industry Report
Statistics for the 2024 Uninterruptible Power Supply (UPS) market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Uninterruptible Power Supply (UPS) analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
