The global industrial uninterrupted power supply market is estimated to reach USD 17.02 billion by 2028, expanding at a CAGR of 8.06% during the forecast period, 2021–2028. The growth of the market is attributed to the rising demand for smooth power supply across other manufacturing industries.
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Industrial uninterrupted power supply (UPS) is an electronic gadget used for providing a smooth flow of power supply and acting as the power backup to various industrial appliances or equipment in case of any failure of external power supply. The device ensures to provide a nonstop supply of power since it automatically detects the power failure and starts supplying power that is stored in its batteries. However, the Industrial UPS cannot be used as the main source of power supply for several industrial applications as they are only designed for emergency use or as a backup power supply only.
Market Drivers, Restraints, Trends, and Opportunities
Increasing adoption of services such as online services, mobile computing, and remote access services across several manufacturing industries are predicted to help expand the market growth. Rising installing of the industrial UPS to avoid interruption of power supply during business operations across industries is expected to fuel the market expansion. Growing demand for the UPS from the distributed energy generation industry is likely to expand the market growth. Technological advancement in the development of industrial UPS and production of innovative device are anticipated to boost the market growth in the coming years. Lack of long-life battery and high cost of its replacement are expected to hinder the market growth during the analysis period. Ongoing research and developments by key market players are presenting numerous opportunities for the expansion of market.
Global Industrial Uninterrupted Power Supply Market Segment Insights
On the basis of products, the market is divided into online-double conversion, offline/standby, and line-interactive. The online-double conversion segment is likely to expand at an impressive CAGR rate in the analysis period since this UPS system can manage and monitor energy supply with the help of its innovative technology. On the other hand, the line-interactive segment is projected to exhibit substantial growth as UPS uses automatic voltage regulation (AVR) that allows to provide a streamline voltage flow without switching to the battery. It requires less capital investment due to its low operating cost as compared to online-double conversion UPS, which presents a main factor boosting the segment growth. On the other hand, the offline/standby segment is expected to grow at a healthy rate in the coming years as this UPS type has a higher efficiency and simpler internal controls than online UPS.
Based on applications, the global industrial uninterrupted power supply market is segmented into chemical industry, transport infrastructure, electric power industry, and petroleum industry. The transport infrastructure segment is anticipated to witness a robust CAGR owing to the wide adoption of the industrial UPS in railways and metros. Meanwhile, the petroleum industry segment is projected to expand at a considerable CAGR rate due to the extensive detection of crude oil wells in the United States and several countries of Middle East.
In terms of regions, the market is generally classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America held a dominated market share in 2018 due to the rising adoption of green energy and high adoption of the UPS for various devices associated with the industry especially in the United States. The market in Middle East is predicted to expand at an impressive CAGR rate due to the steady implementation of the UPS in the petroleum industry. Meanwhile, the market in Asia Pacific is expected to constitute a key market share due to the rapid modernization and industrialization in this region.
Competitive Analysis
Major players competing in the global industrial uninterrupted power supply market include EATON, ABB, AEG, Ametek, Benning Power Electronic, Borri, Delta Greentech, Emerson, Falcon Electric, General Electric, S&C, Schneider-Electric, Socomec, and Toshiba.
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