Market Research Future (MRFR) estimates that the
global Modular UPS Market 2020 can be worth approx.
USD 4 Billion by 2023-end. MRFR also contemplates the market expansion rate to
be 14% between 2017 and 2023 (forecast timeframe).
Growth Boosters and Key Barriers
The UPS market is expanding at a favorable pace all
across the globe, with the major demand emanating for modular UPS products across
prominent industries. A modular UPS system’s capacity to reconfigure and cater
to the load demands offers a high level of flexibility, which is not possible
with fixed capacity UPS systems. This helps maximize the operational
efficiency, while ensuring trouble-free functioning of critical systems during
power interruptions such as brownouts, blackouts, sags, noise interference or
surges.
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In recent years, the demand for colocation and cloud
services has soared considerably and the use of cloud applications across
industries has risen sharply, which can be quite favorable for the modular UPS
market growth. The intense growth of the colocation sector can also benefit the
global market to a large extent. The demand and ubiquity of internet hosting is
constantly mounting, which means that SMEs as well as large enterprises need to
adapt to the evolving market dynamics in order to stay relevant.
Top giants such as Riello Electronica Group and ABB
Group are actively spending huge amounts on developing modular UPS, given the
escalating demand from industry verticals such as education, healthcare,
government, corporate, among others. This increase in the investments for
developing better quality products by major companies can complement the market
growth in the approaching years.
Market Segmentation
Modular UPS industry has been thoroughly studied in
the MRFR report, keeping in mind the primary segments of component and
vertical.
The component segment consists of solution as well
as services. Further, the solution segment can be narrowed down to 10-100 kVA,
101-250 kVA, 251-500 kVA, and above 500 kVA.
The vertical that majorly deploy modular UPS are
media & entertainment, manufacturing, defense, IT & telecommunication,
healthcare, BFSI, data centers are the top segments considered in the report.
The demand for modular UPS can grow at a high rate in the healthcare industry,
because of the increasing use of medical devices such as ventilators,
hematology systems, diagnostic instruments, MRIs, centrifuges, and gas
analyzers, among others and the rising need for reliable and uninterrupted
power supply for these to operate.
Regional Outlook
The modular ups market has been regionally segmented
into Asia Pacific (APAC), Europe, North America, and the Rest of the World
(RoW).
The largest share in the global market is expected
to be clinched by APAC, while North America and Europe are presumed to gain at
the fastest rate in the coming years.
The major market growth in APAC is the result of the
rapid technological innovations, mostly in the emerging nations like Japan,
India and China. The escalated demand for affordable solutions paired with the
rising need for additional power supply are additional factors stimulating the
market expansion in the region. Moreover, the surge in the financial soundness
of the firms in the region has led to an increase in the investment in the
latest technologies for efficient business operations, which works in favor of
the regional market.
North America boasts of an expansive industrial
sector, which includes healthcare, manufacturing and IT and telecommunication.
These industries are increasingly making demand for modular UPS, which has
resulted in the market growth in the region. A large number of organizations
with a massive base of operation in North America are demanding a higher number
of data centers and colocation services, which amps up the demand for modular
UPS solutions as well.
Leading Competitors
Leading competitors in the market for modular UPS
are Schneider Electric SE (France), Eaton Corporation PLC (Ireland), ABB Group
(Switzerland), General Electric (U.S.), Delta Electronics, Inc. (Taiwan),
Gamatronic Electronic Industries Ltd. (Israel), Riello Electronica Group
(Italy), Huawei Technologies Co. Ltd. (China), Tripp Lite (U.S.), Emerson
Electric Co. (U.S.), to mention a few.
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