PUBLISHER: Market Research Future | PRODUCT CODE: 1624241
PUBLISHER: Market Research Future | PRODUCT CODE: 1624241
Global UPS Battery Market Research Report Information By Rating (5KVA, 5-<50KVA, 50-200KVA, and >200KVA) By Product Type (Off-Line/Standby, Line-Interactive, and Online/Double Conversion) By Battery Type (Lithium-Ion UPS Batteries, Lead-Acid UPS Batteries, Nickel-Cadmium UPS Batteries, and Others) By Application (Telecommunications, Data Centers and IT Infrastructure, Healthcare, Manufacturing and Industrial Processes, Financial Institutions, Military and Defense, and Others) and By Region Forecast to 2030
The UPS Battery Market Size was estimated at USD 8562.46 million in 2023. The UPS Battery Market is expected register a compound annual growth rate (CAGR) of 9% over the forecast period. The global Uninterruptible Power Supply (UPS) market is primarily driven by the growing reliance on digital infrastructure and the increasing frequency of power outages, which highlight the need for dependable backup power solutions across multiple industries.
The growing reliance on digital infrastructure across industries is a key driver of the Uninterruptible Power Supply (UPS) market. In today's interconnected world, organizations are incorporating modern digital technology into their daily operations, ranging from data management systems to automated processes. This shift toward digitization increases efficiency and competitiveness, but it also creates a greater demand for dependable power supplies. As businesses become more reliant on digital technologies, maintaining a consistent and steady power supply is critical to avoiding disruptions that could affect productivity and service delivery.
Global spending on digital transformation reached 1.85 trillion US dollars in 2022, up more than 16 percent from the previous year. The coronavirus (COVID-19) pandemic is thought to have sparked this spending for many firms, with the development of remote work encouraging organizations to adopt cloud technologies that allow for flexible working settings. As of 2023, more than 90% of enterprises globally had incorporated cloud technologies, the highest acceptance rate of any emerging technology, with global public cloud investment expected to exceed $560 billion.
Market Segment insights
The UPS Battery Market is segmented by rating: 5KVA, 5-<50KVA, 50-200KVA, and >200KVA. In 2023, the 5-50KVA segment dominated the UPS Battery Market with a significant market share.
The market has been divided into three segments based on product type: off-line/standby, line-interactive, and online/double conversion.
The market is divided into four types of UPS batteries: lithium-ion, lead-acid, nickel-cadmium, and others.
The Market has been divided into applications such as telecommunications, data centers and IT infrastructure, healthcare, manufacturing and industrial processes, financial institutions, military and defense, and others.
Regional insights
The UPS battery market is divided into five regions: North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The North American UPS Battery market has the largest market share and is predicted to account for a sizable revenue share over the forecast period. The market in North America is primarily driven by rising demand for UPS technology in healthcare and pharmaceutical applications, an increase in sales of three-phase UPS systems for industrial applications, advancements in the telecommunications industry, and rising demand for UPS technology in these fields. North America has excellent medical tools for diagnosing patients. The complex medical equipment utilized in hospitals is power sensitive, and frequent power fluctuations can reduce the reliability of the instruments. Thus, a growth in demand for intelligent power backup systems for running medical equipment is projected to drive the demand for UPS technology in healthcare applications.
ABB, Makvolt Power, Socomec, KStar Corporation, East Group, Schneider Electric, Emerson Electric, Eaton Corporation, Toshiba Corporation, and Siemens are among the key players in the UPS battery market.