UPS Battery Market to Develop at 10% CAGR by 2027 | Market Research Future (MRFR)
Key players profiled in the UPS battery market report include Saft Batteries (France), Kokam Co., Ltd (South Korea), Kehua Data Co., Ltd. (China), Toshiba Corporation (Japan), Socomec (France), Active Power (US), EnerSys (US), Vertiv (US), Schneider Electric (France), Leoch International Technology Limited (Hong Kong), GS Yuasa Corporation (Japan), FIAMM Energy Technology S.p.A. (Italy), Exide Industries Ltd. (India), Eaton (Ireland), East Penn Manufacturing (US), and CSB Energy Technology Co., Ltd. (Taiwan), among others.
Pune, April 07, 2021 (GLOBE NEWSWIRE) -- UPS Battery Market Overview
The global UPS battery market is anticipated to grow at a 10% CAGR over the forecast period (2020-2027), reveals the current Market Research Future (MRFR) report. UPS batteries, simply put, are used for offering power backup to UPS systems for ensuring the right functioning of PCs and other related electrical equipment in safe working conditions. Owing to its alluring features and plentiful benefits, UPS battery has wide applications in data centers, industrial, commercial, and residential sectors.
Alluring Features that Boost Market Growth
As per the MRFR report, there are numerous factors that are propelling the UPS battery market share. Some of these entail the increasing adoption of modular UPS systems, increasing need for colocation facilities, increasing adoption of UPS in IT infrastructure and BFSI, growing demand for data centers, increased use of internet services, improving communication, growing use of online banking transactions, digitalization of services and cloud computing, rise in green telecom towers, and increased number of connected devices. The additional factors adding market growth include rapid urbanization, a growing IT market, and the increasing awareness of the benefits of using UPS, such as saving of data on the servers and damage limitation to the different components and appliances.
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On the contrary, high installation cost, expensive maintenance related to the UPS, frequent replacement of batteries, risk related to battery failure, emissions from batteries, and frequent updating the technology and components due to rapid growth of high powered equipment may limit the global UPS battery market over the forecast period.
COVID-19 Analysis
The ongoing COVID-19 pandemic has cast its shadow on almost every industry, and the UPS battery market is no different. The negative impact was mostly seen in the single-phase UPS products. But on the brighter side, the demand for UPS batteries from enterprises has not disappeared but got delayed. Colocation and cloud service providers have experienced increased demand for their services and, wherever possible, are accelerating data center deployments. Opportunities in transformative technologies like edge computing are increasing as enterprises are shifting to support contactless services and remote working. The demand for UPS hardware, on the one hand, is negatively impacted in government sectors, retail, transportation, and energy sectors due to demand and supply gap and logistical issues, but on the other hand, the demand for colocation and cloud is likely to increase in 2021. Despite the poor outlook, the market is likely to gain momentum in 2021.
Market Segmentation
The MRFR report throws light on an inclusive analysis of the UPS battery market based on application, organization size, and battery type.
By battery type, the global UPS battery market is segmented into li-on, nickel cadmium, lead acid, and others. Of these, the li-on segment will lead the market over the forecast period for lower self- discharge, higher energy density, and more stability over other forms of batteries.
By organization size, the global USP battery market is segmented into large enterprises and small & medium enterprises (SMEs). Of these, the SMEs will dominate the market over the forecast period for its rapid development across the globe. SME sectors are highly dynamic as they help in the region’s socio-economic development.
By application, the global UPS battery market is segmented into industrial, data centers, commercial, and residential. Of these, the industrial segment will spearhead the market over the forecast period and at a high CAGR.
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Regional Takeaway
APAC to Spearhead UPS Battery Market
Geographically, the global UPS battery market is bifurcated into Europe, the Asia Pacific (APAC), North America, the Middle East & Africa (MEA), & South America. Among these, the APAC region will spearhead the market over the forecast period. The increasing adoption of modular UPS systems, increasing need for colocation facilities, increasing need for UPS in IT infrastructure and BFSI, increasing use of UPS in power, wind, railway, and other sectors, and a large number of industry booms in emerging economies like Japan, India, and China. Besides, the growing prominence of UPS systems in different data centers, increasing demand for smart meters as well as fully automated grids, and increasing demand for active meters and completely automated grids are also adding market growth. South Korea has the utmost market share for the increased demand for such batteries for the constant power supply to data centers.
North America to Hold Second-Largest Share in UPS Battery Market
In North America, the global UPS battery market is predicted to hold the second-largest share over the forecast period. Burgeoning demand for UPS supply from various industries like insurance, financial services, and healthcare adds to the growth of the segment.
Europe to have Healthy Growth in UPS Battery Market
In Europe, the global UPS battery market is predicted to have healthy growth over the forecast period for the presence of key industry players, technological advances, and increasing adoption of UPS batteries in different industries.
In the Middle East, and Africa and South America, the global UPS battery market is anticipated to have steady growth in the forecast period.
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Key Players
List of the notable players profiled in the global UPS battery market report include.
- Saft Batteries (France)
- Kokam Co., Ltd (South Korea)
- Kehua Data Co., Ltd. (China)
- Toshiba Corporation (Japan)
- Socomec (France)
- Active Power (US)
- EnerSys (US)
- Vertiv (US)
- Schneider Electric (France)
- Leoch International Technology Limited (Hong Kong)
- GS Yuasa Corporation (Japan)
- FIAMM Energy Technology S.p.A. (Italy)
- Exide Industries Ltd. (India)
- Eaton (Ireland)
- East Penn Manufacturing (US), and
- CSB Energy Technology Co., Ltd. (Taiwan), among others.
The global UPS battery market is fragmented and competitive with the existence of many international and domestic industry players. They have encompassed multiple strategies to stay ahead and also suffice to the growing needs of the esteemed customers, such as collaborations, contracts, partnerships, joint ventures, and others. Further, they are also investing in research and development activities to strengthen their portfolios and also create a hold in the market.
Industry Updates
March 2021- The latest battery backup system BLUETTI EP500 has a large battery capacity that can keep the house going for three days. This UPS battery can give power for three days and allow one to use essential appliances such as mobile devices, refrigerators, and more.
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