Modular UPS Market Outlook
The global modular UPS market size was valued at $3.5 billion in 2020, and modular UPS market forecast projected to reach $7.5 billion by 2030, with global modular UPS market forecast expected at a CAGR of 8.1% from 2021 to 2030.
The major companies profiled in this modular UPS industry include ABB, AEG Power Solutions, Eaton, Emerson Electric, Schneider Electric, Huawei, Delta Electronics, Gamatronic, Tripp-Lite, and Toshiba International Corporation.
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Rapidly growing importance for the data management in the IT sector and security management from the government services to protect the national borders and people from threats.
The increase in the awareness of health care and the presence of huge population led to the data management such as hospital information system to give better treatment for the patients in very less time.
The decrease in the natural resources such as oil & gas and water sources led to the investments from the government to streamline and maximize the natural resources; in addition to this development of banking facilities and insurance through telecommunication services led to increase in the usage of data centers.
The application of data centers in the above-mentioned sectors is expected to create potential opportunities for the modular UPS market during the forecast period.
In modern society telecommunication sector has become a part of life with the application of Internet of Things (IoT) which led to the development of internet-based business such as banking, e-commerce, and others; that led to the demand for power consuming data servers; hence driving the growth of the market as they are used as energy backup devices.
Telecommunication companies that maintain the infrastructure in addition to data storage and backup, also depend on uninterruptable power supply (UPS) systems to ensure the landline, internet and mobile communication function nationwide.
In the age of digitalization and the networking of companies and households, the supply of the country with internet and mobile communications is a crucial factor which is contributing to the growth of the modular UPS market.
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Lack of awareness among the small-scale manufacturing industries and the need for high capital expenditure and operational expenditure are major restraining factors for the growth of the market.
Modular UPS systems require large cabinets to house modules that allow expansion and also need monitoring software for stable operation.
Modular UPS systems require the client to know the power capacity of businesses to utilize the actual benefits. Modular UPS models and batteries require regular maintenance which requires high cost.
The need for stable power for specific manufacturing process such as in semiconductor industries has increased the demand for uninterruptable power supply systems.
The increase in the demand for the electronic gadgets across the globe has a positive impact on the semiconductor manufacturing industries and rapid breakthrough in IoT and artificial intelligence and their application in the manufacturing sector is anticipated to provide ample opportunities for the growth of the modular UPS market.
Impact Of Covid-19
The COVID-19 pandemic has negatively impacted the modular uninterrupted power supply (UPS) market.
The COVID-19 pandemic has posed business continuity challenges among various sectors which includes construction, real estate, IT, healthcare, and manufacturing, owing to global lockdowns.
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Thus, the abovementioned factors are expected to have negative impact on the global modular UPS market growth in this forecast period.
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