U.S Uninterrupted Power Supply Market Size Forecast to Reach $2.5 Billion by 2026
The Rising Demand for Efficient Energy Usage Over Concerns of Environmental Impact of Energy Generation From Conventional Sources Such As Coal and Natural Gas, Is Expected To Help Grow the U.S Uninterrupted Power Supply Market
Hyderabad, India – July 22, 2021 /MarketersMedia/ —
U.S Uninterrupted Power Supply (UPS) Market Size is forecast to reach $2.5 billion by 2026, growing at a CAGR of 5.5% in the forecast period 2021-2026. Rise in demand for reliable power solutions that can support large-scale manufacturing facilitates is expected to drive the uninterrupted power supply system market growth. Increase in data-related services, and growing trend of cloud computing and virtualization has also escalated the demand for data centers In United States. Adding to this, a growing number of data centers creates demand for UPS in the forecast period. Moreover, several data centers have been planning to expand their presence in this region.
U.S Uninterrupted Power Supply Market Segment Analysis – By deployment
The offline/standby solution is growing at a significant CAGR of 7.2% in the forecast period, owing to growing application of such uninterrupted power supply systems in small scale and medium scale applications for computers, printers, or scanners. In addition, these are cost effective compared to that of online UPS systems. For instance, the price for luminous 1KVA offline UPS is $85, whereas the price for 1KVA online UPS is $180.
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U.S Uninterrupted Power Supply Market Segment Analysis – By End User
BFSI sector is expected to witness a highest CAGR of 7.5% the forecast period, as this sector play pivotal role in the economic growth and stability, both at national and individual level, so it requires UPS for continuous and reliable services. In addition according to the report given by US Department of Energy in 2019, brokerage and credit card operations are victims with highest average costs led by power outages, so the finance industry requires enormous computing power to trade at high speed and frequency, to analyze and react these issues, and to provide customers with constant access to services and information.
U.S Uninterrupted Power Supply Market Drivers
Surge in demand for UPS among SME’s
UPS systems provide continuous power supply as their inverters are always on, protecting the infrastructure from all power disturbances such as spikes, blackouts, and brownouts. Growing demand for these systems from edge and micro data centers has encouraged manufacturers to develop advanced systems. In April 2019, Legrand launched a new line of online UPS called the LU-Series for supporting network installations in network closets, data centers, retail applications, and commercial environments. The U.S.-based SMEs generated around $2 billion market revenue in 2019.
Growing R&D activities
With the growing utilization of cloud computing and cloud-based services, the number and size of data centers worldwide is rapidly increasing. Leading cloud service providers, such as Google, Amazon Web Service (AWS), and Microsoft Azure, have developed a number of large-scale data center projects in recent years and will continue to lead cloud computing innovations in the future. In addition, advances and innovations in UPS technology are aimed to deliver cost-effective protection for edge and micro data centers. Technological advancements in three-phase UPS systems is bringing greater efficiency and modularity and lower the total cost of ownership, offering improved connectivity and a reduced carbon footprint. Further manufacturers are continuously focusing on R&D to develop new and effective
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U.S Uninterrupted Power Supply Market Challenges
High Cost of Installation and Maintenance
The market for U.S Uninterrupted Power Supply is highly fragmented, with a significant number of domestic and international manufacturers. High installation costs and expensive maintenance associated with UPS is a challenge for the uninterruptible power supply (UPS) market. Moreover, there is always a risk to service personnel during maintenance if they come in contact with UPS batteries while systems are online. .
U.S Uninterrupted Power Supply Market Landscape
U.S Uninterrupted Power Supply top 10 companies include ABB Ltd. AMETEK, Inc., Delta Power Solutions Ltd., Eaton Corporation, Emerson Electric Co., Huawei Technologies Co., Ltd., Legrand, Mitsubishi Electric Corporation, Schneider Electric SE, Siemens AG among others.
Acquisitions/Product Launches
In 2020, ABB has launched Mega Flex, a compact UPS system which is up to 45 percent smaller than its rivals and aimed at markets which require UPS systems that comply with standards.
In 2020 Schneider Electric has introduced Easy UPS 3L, the newest part of the Easy UPS 3-phase Uninterruptable Power Supply (UPS) range, extending the medium range to 500 and 600 kVA (400V) for external batteries.
Key Takeaways
The rising demand for efficient energy usage over concerns of environmental impact of energy generation from conventional sources such as coal and natural gas, is expected to help grow the U.S Uninterrupted Power Supply market in APAC.
The offline/standby solution is growing at a significant CAGR of 7.2% in the forecast period, owing to growing application of such uninterrupted power supply systems in small scale and medium scale applications for computers, printers, or scanners
BFSI sector is expected to witness a highest CAGR of 7.5% the forecast period, as this sector play pivotal role in the economic growth and stability, both at national and individual level, so it requires UPS for continuous and reliable services
Growing demand for the systems from edge and micro data centers has encouraged manufacturers to develop advanced systems.
Manufacturers are continuously focusing on R&D to develop new and effective Uninterrupted Power Supply to meet consumer demand. These advancements bringing greater efficiency and modularity to UPSs, along with a reduced footprint, improved connectivity and a lower total cost of ownership.
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