The uninterruptible power supply market has seen significant growth in recent years. An uninterruptible power supply, commonly known as a UPS, is a power supply system that provides emergency power to loads when the main power source or primary power grid fails. UPS systems provide instant backup power by storing electricity mechanically, electromechanically, chemically via battery cells, fuel cells or flywheels. They ensure continuity of operation for critical equipment by conditioning and regulating the power sources. These systems find widespread adoption in data centers, telecom equipment, medical equipment and various industrial applications where continuous power is required for uninterrupted operations.
The global uninterruptible power supply market is estimated to be valued at US$ 9.95 billion in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.
This high growth can be attributed to increasing construction of large data centers across the globe. Data centers house critical servers that require constant power to ensure continuity of cloud-based services. UPS systems are indispensible for data center power backup in case of outages or fluctuations in grid power. With growing digitalization and cloud migration of workloads, the demand for large hyperscale data centers is surging which is directly boosting the uptake of UPS systems.
Key Takeaways
Key players operating in the uninterruptible power supply market are Inmarsat GHL (Connect Bidco Limited), Windward Limited, Amplify Mindware Private Limited, Spire Global, Inc., ProGen Business Solutions Private Limited, Spark Cognition Inc., Wartsila Oyj Abp, Prisma Electronics SA (Laros), U-Ming Marine Transport Corporation, and ABB Ltd.
The uninterruptible power supply market provides significant opportunities for UPS manufacturers to focus on developing innovative solutions with high-end features and capabilities. Rise of edge computing and 5G infrastructure also creates new revenue pockets for UPS systems serving telecom base stations and edge data centers.
Global expansion of leading UPS companies through strategic mergers and acquisitions will further consolidate the market landscape. For instance, ABB completed the acquisition of GE Industrial Solutions in 2020 to strengthen its position in UPS systems globally.
Market Drivers
One of the key drivers for the Uninterruptible Power Supply Market Share is increasing construction of large hyperscale data centers globally. As organizations migrate workloads to public and private clouds, there is surge in demand for robust data center infrastructure with foolproof power backup. This motivates investment in large capacity UPS systems by data center operators.
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