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Industrial UPS or uninterruptible power supply is a backup power source to provide power for the functioning of industrial machinery and other electric devices used in industries in case of power loss due to outages or voltage drops. It provides a safe way to shut down devices and machinery or work for a stipulated period till power is regained. As the name suggests, the UPS delivers energy without any interruption, ensuring smooth functioning.
The rapid rise in industries globally and increased reliance on automation, computing, and digitization have led to high demand for uninterruptible power supply in industries. The increase in remotely controlled equipment, which requires consistent power for network usage, has further driven the industrial UPS market.
The industrial UPS still poses hindrances to growth due to their high initial and operational costs. The added expenditure of battery maintenance and replacement further affects their adoption. Additionally, with the age of the UPS, their efficiency reduces drastically, affecting performance and increasing the cost.
The growth in automation in oil & gas and manufacturing industries drive the demand for industrial uninterruptible power supply in North America. The telecommunication and cloud-based industry growth in the region augments the market.
The Industrial UPS market is expected to take a long time before recovering from the impact of the COVID-19 pandemic due to electricity demand reduction globally. The industrial shutdowns due to COVID restrictions and lockdowns significantly affected the market. International trade was affected, widening the demand-supply gap for industry goods globally.
As the industries are slowly restarting and international trade is gradually regaining momentum due to the easing of COVID-19 restrictions, Industrial UPS demand is anticipated to rise slowly.
The report will cover the following key insights:
According to the application, the Industrial UPS market is divided into mining, oil & gas, construction, marine, manufacturing, pharmaceuticals, telecom, data center, and others. The data center category will have the most significant market share during the forecast period. The high rate of digitization and the requirement of consistent power in data centers drive the demand for UPS in them. The Asia Pacific is considered to be the fastest-growing region in the setup of data centers.
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North America is a developed region in terms of industrialization. Due to the ever-growing industrial landscape in the United States, the region accounts for a massive market share in the industrial UPS segment. The increasing automation in every industry segment, especially manufacturing and telecommunication, drives the market. The Asia Pacific is anticipated to grow fastest due to China's industrial development. Most overseas companies get their products manufactured in China due to the low cost of manufacturing in the country. China's power consumption rose 6.8% year-on-year in December 2020, according to the International Energy Agency. This is anticipated to drive the demand for industrial UPS in the country.
The report will include profiles of key players such as Eaton, Emerson, Schneider Electric, ABB, AEG, AMETEK, S&C Electric Systems, GE, BENNING, Borri S.p.A., Toshiba, Falcon Electric Inc., Delta Greentech, and Socomec Group.
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