Driving Forces Behind Growth of UPS Battery Market in Data Centers Are Intense Environmental Restrictions, Rising Energy Costs and High Power Densities
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The global UPS Battery Market is estimated to surpass $1.1 billion mark by 2026 growing at an estimated CAGR of more than 9.5% during the forecast period 2021 to 2026. The UPS Battery Market is taking a leap towards further alliance on a global scale. Growing pervasiveness throughout the countries like U.S for more sensitive electronic products which are easily damaged by power outages, spikes and other power inconsistencies is one of the driving factors for the growth of UPS Battery Market in American countries. The proliferation of sensitive electronic devices such as devices used in home computers to offices, factories and the need of UPS to maintain the inconsistencies in the power supply, particularly in data centers and industrial sector is further analyzed to provide opportunities for the UPS Battery Market. The increased power requirements, demand for clean and reliable power and added investments in the information technology to develop microelectronic products for various applications will create the need for improved UPS batteries, primarily lead-acid batteries and lithium ion batteries. As of 2019, there were around 9.6 million smart homes in U.S and is the number is on huge rise in the present years.
UPS Battery Market Segment Analysis - By Topology
Online UPS segment dominates the UPS Battery Market, however frozen segment is set to grow at the fastest rate of 11.3% through 2026. The online UPS is the most advanced and most costly UPS. The inverter is continuously providing clean power from the battery to the computer equipment as it never receives power directly from the AC outlet. Online or double-conversion UPS is designed to deliver continuous protection against power problems. A standby UPS, also known as off-line or line-preferred UPS and are generally small in size, efficient, and easy to use and typically provide basic features of a UPS providing surge protection and battery backup.
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UPS Battery Market Segment Analysis - By Application
In the past few years, UPS Battery Market grew at rapid rate resulting from huge investments by colocation and cloud service providers driving the Data Center market at 12.4% CAGR through 2026. Factors such as digitization and Internet of Things have resulted in huge spending by the service providers on UPS systems to expand footprints by meeting the growing demand for computations. This has complemented huge growth rates in larger three phase power ratings UPS that are often used by colocation and cloud service providers. Digitization continues with the number of internet users and internet connected devices surging across the globe and resulting in a corresponding growth in suitable power back-up systems including UPS. According to a study, 69% of the Americans use some kind of cloud service for efficiently carrying out their business activities which been gaining immense popularity in recent years. Majority of the colocation providers are found in North America, around 43% of the world’s operational space for colocation is on this continent.
UPS Battery Market Segment Analysis - By Geography
Though the demands for the uninterrupted power source is incessantly coming from all over the world, the Asia-Pacific region is currently generating the most substantial chunk, with a global demand share growing to 35.5% in 2020. The entry barrier in the UPS industry is very low and any power electronics company can enter this market. This resulted in the stiff competition for UPS providers. In addition, a significant increase in imports from China is one of the major challenges faced by the domestic players in countries such as India and other South East Asian countries.
UPS Battery Market Drivers
Growing penetration of industrial M2M communications
The ongoing wave of fourth industrial revolution, Industry 4.0, enables machine-to-machine, machine-to-infrastructure, and machine-to-human communication. With the rise in deployment of technologically advanced machines in various industries, the demand for power backup is increasing at a rapid space for uninterrupted communication between machines. The data exchanged in this communication is crucial for business operation, thus, UPS are being increasingly installed to serve as a backup power to the data storage and transmission system in the machines and infrastructure.
Demand for fully automated grid and smart meters will further bolster the UPS Battery Market
For socio-economic development, energy is the foundation block. A significant gap has been identified between installed energy generation capacity, demand for energy and the population growth rate across various parts of globe. To cope with the pressure of growing population, many countries across world has adopted smart metering programs and full automated grids. Smart meters generates petabytes of data over current drawn, readings, power factor, damage, pilferage and other parameters. Smart meters is also integrated with the ICT architecture to send signal or readings directly to the grid.
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UPS Battery Market Challenges
Lack of Awareness of UPS Capabilities
The UPS Battery Market is highly competitive and mature. To address this challenge, manufacturers constantly need to upgrade their products to more technologically advanced products which further meets the continuously changing demand of the end user. The major concern is to launch the new technology in the market to showcase its merits and benefits. So from the manufacturer’s perspective, the prime challenge will be to educate the market and the end user about the product. Because of the poor consumer knowledge and incorrect selection criteria, the UPS Battery Market has seen slower growth.
UPS Battery Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the UPS Battery Market. Eaton, Schneider, Exide, GS Yuasa, Samsung, Vertix, Fiamm Energy and East Penn Manufacturing are considered to be the key players of the UPS Battery Market
Acquisitions/Technology Launches/Partnerships
In January 2021, France-headquartered Legrand group's UPS brand in India, Numeric, announced the launch of its 3 Phase UPS Battery, Keor MOD. The company said the product is designed to meet the needs of the IT, ITeS, data centres, infrastructure and healthcare industry.
In June, 2019 Fuji Electric Co., Ltd launched the 7400WX-T3U, a high-capacity uninterruptible power supply system to strengthen its overseas power supply business.
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Source URL: https://marketersmedia.com/ups-battery-market-estimated-to-surpass-11-billion-mark-by-2026/89038303
Source: MarketersMedia
Release ID: 89038303
