The global uninterruptible power supply (UPS) market is estimated to be valued at US$ 8.23 Bn in 2022 and is expected to exhibit a 4.2% CAGR over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Key Takeaways
The global uninterruptible power supply (UPS) market is expected to witness high growth, exhibiting CAGR of 4.2% over the forecast period, due to increasing demand from data centres and retail sector for uninterrupted power supply.
Regionally, North America dominated the global UPS market in 2022 with a share of over 30%, owing to high demand from data centres. Asia Pacific is expected to be the fastest growing region, growing at a CAGR of around 5% during the forecast period. Increasing investments in BFSI, IT & telecom sectors are driving the demand for UPS systems in developing economies such as China and India.
Key players operating in the Uninterruptible Power Supply (UPS) Market Size are Aspex Inc., Riello Elettronica SpA, Cyber Power Systems Inc., EATON Corporation PLC, General Electric Company, Emerson Electric Co., Mitsubishi Electric Corporation, Delta Electronics Inc., Hitachi Ltd., ABB Ltd., and Schneider Electric SE. The global market remains highly competitive with major players focusing on new product launches and geographical expansion to gain higher market share.
Comments
0 comment