Modular UPS Market Scope
The Modular UPS Market is projected to reach a CAGR of 10.53 % and account value of USD 6.71 billion during the evaluation period in the global market. The global pandemic has shown a drastic impact on different industries’ economies by shutting down the manufacturing and production units. The Modular UPS Market also faced this challenging situation which harmed the market’s sales. Further, the supply chain networks got disrupted. However, in the future days, the market is expected to recover from the losses and rise back with the efforts of the industrial players.
The Modular UPS provides additional power to the system, which results in efficient usage of data centers with an increased lifespan of battery life and flexible modularity. The Modular UPS Market is noticing higher growth due to its demand in industrial verticals. Also, the rise in the need for additional power supply and the usage of modular UPS in data center applications are prominent driving factors of the market.
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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.
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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