Modular UPS Global Market - Overview
A modular UPS or uninterruptible power supply is a device which provides emergency electric power in case of disruptive power shutdown. Market Research Future (MRFR) has recently published a report on the global modular UPS market, covering the essential accruals of the market based on pertinent trends and patterns that can affect the market over the forecast period of 2017-2023. As per MRFR's analysis, the Modular UPS Market is poised to reach USD 4 Bn at a CAGR of 14% during 2017-2023.
Modular UPS provides various advantage such as high scalability, which has evoked burgeoning demand for modular UPS from diverse verticals such as education, healthcare, government, and others. Major industry giants are exploiting on the opportunity provided by the market and are outlaying massive funds on the development of the technology, which is likely to push the market forward over the forecast period.
Fast-track industrialization and augmenting need for uninterrupted power supply across diverse industries have been key to market growth. Speedy expansion of interrelated industries such as telecommunications and data centers has also proven to be fruitful for the modular UPS market growth. The need to protect sensitive and costly devices from abrupt power failure has induced heavy demand within the modular UPS market as damage to devices can prove to be prohibitively costly in these industries. Proliferating IT industry in developing regions of the globe has added fuel to the growth of the market.
Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/4081
Other factors which are nurturing the market growth include rising automation across industries which demands uninterrupted power supply and falling prices of electronic components such as batteries, super-capacitors, and others.
Conversely, the growth of the market is at threat from major bottlenecks, which include high costs aligned with the installation and maintenance of UPS. Moreover, increasing improvement of power infrastructure in various regions and growing reliability of power sources has reduced the need for backup power. Furthermore, the lack of awareness regarding the benefits of UPS in certain regions can constrain market growth over the forecast period.
Modular UPS industry has been thoroughly studied in the MRFR report, keeping in mind the primary segments of component and vertical.
The component segment consists of solution as well as services. Further, the solution segment can be narrowed down to 10-100 kVA, 101-250 kVA, 251-500 kVA, and above 500 kVA.
The vertical that majorly deploy modular UPS are media & entertainment, manufacturing, defense, IT & telecommunication, healthcare, BFSI, data centers are the top segments considered in the report. The demand for modular UPS can grow at a high rate in the healthcare industry, because of the increasing use of medical devices such as ventilators, hematology systems, diagnostic instruments, MRIs, centrifuges, and gas analyzers, among others and the rising need for reliable and uninterrupted power supply for these to operate.
The prominent players in modular UPS market are – ABB Group (Switzerland), Emerson Electric Co. (U.S.), Eaton Corporation PLC (Ireland), Huawei Technologies Co. Ltd. (China), Schneider Electric SE (France), General Electric (U.S.), Delta Electronics, Inc. (Taiwan), Gamatronic Electronic Industries Ltd. (Israel), Riello Electronica Group (Italy), Tripp Lite (U.S.) among others.
The modular ups market has been regionally segmented into Asia Pacific (APAC), Europe, North America, and the Rest of the World (RoW).
The largest share in the global market is expected to be clinched by APAC, while North America and Europe are presumed to gain at the fastest rate in the coming years.
The major market growth in APAC is the result of the rapid technological innovations, mostly in the emerging nations like Japan, India and China. The escalated demand for affordable solutions paired with the rising need for additional power supply are additional factors stimulating the market expansion in the region. Moreover, the surge in the financial soundness of the firms in the region has led to an increase in the investment in the latest technologies for efficient business operations, which works in favor of the regional market.
North America boasts of an expansive industrial sector, which includes healthcare, manufacturing and IT and telecommunication. These industries are increasingly making demand for modular UPS, which has resulted in the market growth in the region. A large number of organizations with a massive base of operation in North America are demanding a higher number of data centers and colocation services, which amps up the demand for modular UPS solutions as well.
Get Complete Report @ https://www.marketresearchfuture.com/reports/modular-ups-market-4081