The dominance of a handful of large players renders stiff competition in the global UPS market, says Transparency Market Research in a new report. Keen players are striving to launch technologically advanced products to stay competitive in this market which is at a mature stage.
Key participants in the global UPS market to name a few are Eaton Corporation Plc., Emerson Electric, Uninterruptible Power Supplies Ltd., Mitsubishi Electric Corporation, Riello Elettronica, Schneider Electric SE (APC), Legrand, Vertiv Co., and ABB Limited.
Data center and facility application segment led the UPS market in 2016 in terms of revenue. Going ahead, the segment is expected to clock a significant 7.5% CAGR between 2017 and 2025. Based on kVA range, in 2016, 20.1-60 kVA range segment accounted for the leading revenue contribution mainly because of its high adoption in data centers. On the other hand, the segment of less than 5kVA segment is predicted to expand at a significant CAGR from 2017 to 2025.
Request a PDF Research Brochure at https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=30995
Majorly fuelling the global UPS market is the increasing frequency of power fluctuations and growth in the number of data centers and cloud storage utilization capacity. Natural causes, short circuits as well as manmade outages are the some of the key factors for power fluctuations that can cause equipment degradation over a period or instantaneous loss of data stored on the equipment. This necessitates power backup, especially in emerging economies that do not have reliable energy infrastructure.
Power backup in small and large scale industries protects sensitive equipment from getting damaged in the event of fluctuations in the power grid. UPS systems are crucial for hospitals wherein power fluctuations can put patients’ life in danger. UPS systems are also crucial for factories to prevent accidents, loss of downtime.