PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514935
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514935
Modular UPS Market size was valued at USD 4,412.2 Million in 2023, expanding at a CAGR of 14.00% from 2024 to 2032.
The energy-conversion technology found in batteries is used by a modular UPS (uninterruptible power supply), which increases data availability, offers backup power, and can adapt to high power usage. The system is designed as a rack enclosure with a battery cabinet at the base and hot-swappable modules arranged one atop the other to boost redundancy and consume additional power as needed. There are four different capacities available: 10-100 kVA, 101-250 kVA, 251-500 kVA, and 500 kVA and beyond. Using modular devices is based on the general concept that their spare and free capacity can handle high power loads and offer a higher degree of redundancy. It offers a scalable load mechanism that further boosts efficiency.
Modular UPS Market- Market Dynamics
Increasing End User Demand for Zero Downtime Is Fueling Market Growth
Digital transformation has affected businesses in every industry. The reliance on electronic devices to gather and retrieve data for corporate operations is the outcome of this. Dependency on a steady and dependable power source is increased as a result. A dependable and guaranteed power supply is required in the event of a power outage or loss of the main power source. Hardware cars are safeguarded, and ongoing work can be saved when the main power source fails due to UPS's continuity and dependability. These days, many industrial processes use microprocessors and PC-base systems, which are vulnerable to power outages, even if the IT industry has a strong need for UPS systems. Industrial processes can be disrupted by a brief power outage, which can result in significant financial losses. As a result, the majority of sectors and businesses have begun implementing modular and complex UPS systems.
Modular UPS Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 14.00% over the forecast period (2024-2032)
Based on component segmentation, the solution category was predicted to show maximum market share in the year 2023
Based on verticals segmentation, the BFSI category was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Modular UPS Market is segmented on the basis of Component, Organization Size, Verticals, and Region.
The market is divided into two categories based on organization size: Large Enterprises and Small and Medium-sized Enterprises. The large enterprises category dominates the market because large-scale businesses like manufacturing, finance, and telecommunications use uninterrupted power supply systems, where a power outage would result in significant financial losses. Companies in the energy and utilities industry are classified as significant enterprises since they offer their customers water, gas, oil, and electricity. Since most modern-day activities rely on sophisticated computers and communication technologies, clean, steady power is a must.
The market is divided into the following categories based on verticals: BFSI, Cloud Service and Colocation Providers, Telecom, Manufacturing, Healthcare, Energy and Utilities, Government and Public Sector, and Others. The BFSI category dominates the market and is likely to maintain its dominance during the forecast period. The need for modular UPS systems arose from the rapid modernization and widespread use of the Internet in many industries, particularly the banking, financial services, and insurance (BFSI) sectors. This is because numerous data processing and service systems are linked to commercial banks in order to offer the best possible services to their clients. The finance sector's desire to be on the cutting edge of business and technology or face being quickly surpassed by their rivals is another important element fueling the market's expansion. Global technological progress, increased internet data security, and government initiatives to promote online banking are all aimed at reducing illegal transactions and boosting the use of electronic currency.
Modular UPS Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Over the course of the forecast period, North America is anticipated to hold the greatest share of the global market for modular UPS as a result of strong demand from the manufacturing, healthcare, and IT industries. Because these companies have sizable operational bases, there is a growing need for hybrid UPS solutions as well as data centers and colocation services. Furthermore, as IT advances and interest in digital payments and e-commerce grows throughout America, the need for data centers-which require a continuous supply of electricity-increases, increasing the popularity of modular UPS. In addition, the authorities are conducting routine inspections that foster market expansion due to growing concerns about asset and data theft.
In addition, the modular UPS market is anticipated to expand at the fastest rate in the world during the projected period in Asia Pacific. The need for modular UPS is rising due to the expanding data center market in Asia, as well as the growing trend of e-commerce and digital payments. Data centers require a continuous power supply. Additionally, authorities' implementation of regularity compliance in response to growing worries about asset or data theft is fueling the market's expansion.
Several prominent participants in the modular uninterruptible power supply (UPS) industry are Emerson Electric Co., Eaton Corporation, Tripp-Lite, ABB Ltd., Gamatronic, Huawei, Vertiv, and Rittal, to name a few. Huge companies are investing considerably in the development of flexible, adaptable, and user-friendly services as they spend a lot of money on current technology to increase their overall production and efficiency. Such encouragement is anticipated to drive players in the modular uninterruptible power supply (UPS) market to develop cutting-edge products and services, hence escalating the level of competition.
August 2023: Eaton has announced the availability of a 6 kVA power rating for its 9PX lithium-ion uninterruptible power supply (UPS). Targeting primarily Edge situations, the 9PX 6 kVA lithium-ion UPS has applications in education, small retail, and other verticals. It can also be integrated with virtualization and HCI platforms.
July 2023: The introduction of MegaFlex DPA UPS systems in India was announced by ABB Ltd. With a power range of 1.5 and 1.6 MW, ABB's MegaFlex UPS line is targeted at the UL and IEC markets. With the smallest footprint on the market and an IEC version that weighs up to 45% less than competing products with the same power rating, the MegaFlex solution offers the best availability and dependability.
August 2022: Leading provider of technologies for power management and protection, Cyber Power Systems (USA), Inc., has introduced its newest range of three-phase modular online double-conversion UPS systems. The goal of these systems is to provide scalable, modular industrial-grade power safety. The UPS system line's N+X power redundancies offer continuous operation and backup power, and the high-density 10kVA/10kW power modules are simple to install and maintain.
GLOBAL MODULAR UPS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Schneider Electric
AEG Power Solutions
Emerson Electric Co.
Eaton Corporation
Tripp-Lite
Legrand
Vertiv
Rittal
ABB Ltd.
Gamatronic
Huawei
Delta Electronics
Toshiba International Corporation
Others