Global UPS Market size generated a revenue of USD 9.7 billion in 2021 and is forecast to witness a CAGR of 7.1%, reaching a value of USD 16.9 billion in 2029, due to the growing demand for reliable power solutions across BFSI, IT, telecom, and hospitality industries to provide continuous power supply to manage large-scale manufacturing units.

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Key Drivers

The major factors that responsible for the growth of the global UPS market are the increasing use of industrial Uninterrupted Power Supply as an emergency system in different industries including oil & gas, the rising frequency of power fluctuations, and the rising number of data centers and increasing deployment of cloud storage. Moreover, the growing incidence of voltage fluctuation and the increasing number of data centers will further contribute to the growth of the global UPS market. Voltage fluctuations cause severe threats in different industries which include hospitals & factories. Due to the increasing cases of losses caused by regular fluctuations, there is an emerging demand for UPS systems owing to their ability to provide reliable power backup to the device and performs effectively. Growing adoption of UPS systems across telecommunication and healthcare because they are silent and have the capability to provide an immediate protection against input power interruptions and continuous power supply to prevent operational disruption and data loss, which is expected to strengthen the market size. Moreover, the growing deployment of UPS systems across commercial and residential sectors, owing to their ability to protect smart electronic devices against voltage fluctuations and sudden power outages which can cause damage to the sensitive components of the devices, will further add to the market growth. Other factors, which include the emerging need for factory automation, along with the expansion in the electronics and telecommunication industries, have augmented the market share.

The continuous technological innovations like advanced lithium-ion (Li-ion) batteries with high operating temperatures, growing adoption of lithium-ion batteries for the UPS system, and increasing integration of power sources are some other factors that are augmenting the demand of the market over the coming years. Growing deployment of UPS systems as a backup system when the electricity griand d fails, is expected to expand the market growth. In addition, the emerging trend of IoT and smart buildings, rising number of data centers, increasing trend of virtualization and cloud computing, and the surging adoption of multi-cloud and network upgrades are projected to expand the market growth. On the other hand, the high maintenance and installation cost are projected to restrain the market growth.

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Type Segment Analysis

Offline UPS type is expected to grow at a faster CAGR in the market during the forecast period, due to the growing application across POS systems, security systems, consumer electronics, and other electronic devices. In addition, the cost-efficiency, modular design, and higher reliability of offline UPS has stimulated the market growth. Their growing deployment during the disruption in normal power supply lines to increase their operating life in available recharging time, which is estimated to expand the market share.

On the other hand, the online UPS type is predicted to dominate the market during the forecast period, owing to its ability to offer a reliable and consistent power irrespective of the condition of incoming power as the batteries are always connected to the inverter.

Application Segment Analysis

Industrial application is forecast to hold the highest share in the market over the forecast period, due to the emerging need for UPS systems to ensure continuous operation of industrial-grade infrastructure. Increasing use of Uninterrupted power supplies in vast applications including oil rigs, nuclear power plants, petrochemicals plants, pharmaceutical plants, and food & beverage industry, as interruption in AC power or voltage fluctuation might lead to dangerous process instability or result in expensive damage to processing systems, fueling the need for UPS systems in industries.

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Regional Analysis

Asia-pacific is expected to grow at a higher CAGR in the global UPS market during the forecast period. The strong demand from different sectors including IT, banking, financial services and insurance (BFSI), government, manufacturing, telecom, and energy sectors is directly driving the market growth. The regulatory framework of policies to encourage the adoption of 5G networks and rising investment in data center technologies, will further add to the market growth. For example, in December 2021, China declared plans to develop four mega clusters of data centers in its north and west to promote the data needs of Beijing and major coastal centers.

European UPS market is predicted to witness a faster CAGR over the upcoming years, due to rapid industrialization. The increasing adoption of advanced solutions in the manufacturing sector has augmented the demand for effective technologies, which is expected to stimulate the market growth. Increasing investment by prominent automobile manufacturers in countries including the UK, Germany, and France will further strengthen the market growth.

Top Market Players

Various notable players in the UPS market include Schneider Electric SE, Eaton Corporation Plc., Emerson Electric Company, Legrand, Vertiv Co., ABB Ltd., Luminous Power Technologies, Mitsubishi Electric Corporation, Su-Kam Power Systems Ltd., Microtek International Private Ltd, and Hitachi Hi-Rel Power Electronics Pvt. Ltd., among others.

Key Developments:

• • In 2022, Mitsubishi Electric Corporation declared its United States subsidiary Mitsubishi Electric Power Products, Inc. (MEPPI), acquired Computer Protection Technology, Inc. (CPT), intending to expand its presence in Uninterruptible Power Supply (UPS) business in North America. This acquisition is intended to help MEPPI, and CPT to strengthen their business structures to provide highly reliable and professional one-stop services-from installation to maintenance-for UPS systems in the North American market.
  • In 2022, Schneider Electric declared the launch of EcoStruxure Service Plan for 10-40 kVA Three-Phase Uninterrupted Power Supply (UPS) products. EcoStruxure Service Plan integrates traditional onsite services with digital capabilities driven by the IoT-enabled EcoStruxure architecture and offers continuous remote and on-site expertise & support. The improved service plan covers several Three-Phase Uninterruptible Power Supplies (UPS) 10-40 kVA for IT or industrial applications: Easy-UPS 3S, Galaxy VS, Symmetra PX (up to 48kVA), Smart-UPS VT, and Galaxy 3500.
  • In Mar 2019, Eaton Corporation launched three new products Eaton DX-RT 06-10 kW, Eaton 9E-IN 1/2/3 kVA, and Eaton 9E-IN 06-10 kW UPS system. These products are designed to provide protection to critical applications in healthcare, IT and SME sectors and provide the customers and end-users with an energy-efficient, highly reliable and compact power solution.

Segments covered in the Report:

The Global UPS market has been segmented based on the type, power rating, and region. Based on the type, the market is categorized into Online UPS, Offline UPS, and Line Interactive UPS. Based on the power rating, the market is segmented into less than 5KVA, 5.1KVA-50KVA, 50.1KVA-200KVA, Above 200.1kVA.

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Key questions answered in this research report:

• • At what pace is the global UPS market growing? What will be a growing trend in the future?
  • What are the key drivers and restraints in the global UPS market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global UPS market?
  • What are the various types of the global UPS market, and how are they poised to grow?
  • Which Type generated maximum revenues in 2021 and identify the most promising Type during the forecast period?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD 9.7 billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Power Rating, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Schneider Electric SE, Eaton Corporation Plc., Emerson Electric Company, Legrand, Vertiv Co., ABB Ltd., Luminous Power Technologies, Mitsubishi Electric Corporation, Su-Kam Power Systems Ltd., Microtek International Private Ltd, Hitachi Hi-Rel Power Electronics Pvt. Ltd. among others
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global UPS Market by Type              

• • Online UPS
  • Offline UPS
  • Line Interactive UPS

Global UPS Market by Application

• • Data Centers
  • Telecommunications
  • Healthcare (Hospitals, Clinics, Etc.)
  • Industrial
  • Other Applications

Global UPS Market by Power Rating              

• • Less than 5KVA
  • 1KVA-50KVA
  • 1KVA-200KVA
  • Above 200KVA

Global UPS Market by Region

• • North America UPS Market (Option 1: As a part of the free 25% customization)
    • By Type
    • By Power Rating
    • US Market All-Up
    • Canada Market All-Up
  • Europe UPS Market (Option 2: As a part of the free 25% customization)
    • By Type
    • By Power Rating
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific UPS Market (Option 3: As a part of the free 25% customization)
    • By Type
    • By Power Rating
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • ROW UPS Market (Option 4: As a part of the free 25% customization)
    • By Type
    • By Power Rating
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the UPS (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Schneider Electric SE
  • Eaton Corporation Plc
  • Emerson Electric Company
  • Legrand
  • Vertiv Co.
  • ABB Ltd.
  • Luminous Power Technologies
  • Mitsubishi Electric Corporation
  • Su-Kam Power Systems Ltd.
  • Microtek International Private Ltd.
  • Hitachi Hi-Rel Power Electronics Pvt. Ltd.