North America UPS market size to surpass USD 5 billion valuation by 2027
SKYLINE MARKET RESEARCH LLP
7 min read
SKYLINE MARKET RESEARCH LLP
North America UPS Market’ research report seeks to provide a comprehensive picture of the industry from 2020 to 2027.
Pune, India, July 14, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, North America UPS market is estimated to grow at a decent pace in the next five years and reach a valuation of USD 5 billion by the year 2027.
The quantitative and qualitative measures of various market segments and important geographies are also incorporated into the literature. It also includes thorough information on the key competitors that influence market dynamics, as well as their product/service offerings. The paper enables businesses to invest smartly by developing foolproof profit-making strategies in order to strengthen their position in this market.
Rising construction of hyperscale data centers to store & manage large volume of data, as well as product ability to reduce overall downtime caused by equipment failure due to a surge in power voltage, and rising demand for devices that can provide a consistent & reliable electricity are the major growth determinants for the market.
For the uninitiated, hyperscale data centers require safe and superior energy management technologies to reduce their Power Usage Efficiency (PUE) ratio, and since these data centers take a lot of electricity during peak hours to process massive volume of data, the demand for a consistent electricity supply will increase. These factors are further augmenting the industry outlook.
COVID-19 impact:
Notably, the advent of COVID-19 pandemic had diminished the product demand, due to low production as a result of supply chain disruptions and lockdown restrictions, which in turn hampered the market growth in the recent past.
Market segment overview:
Based on component, the online UPS solution segment is gaining traction at present, owing to the ability of solution to provide continuous AC power to critical equipment while also protecting them from voltage fluctuations caused by blackouts, brownouts, surges, and sags. Rising demand for online UPS solutions that can ensure a continuous and safe supply of energy while also protecting their electronic gadgets from damage is impelling the segmental share.
In terms of application ambit, the healthcare segment of North America UPS industry is poised to hold major revenue share by the year 2027, due to the presence of various well-known medical institutes in the region, along with growing reliability on product because of its efficiency to provide constant power to life saving equipment.
On the basis of end use spectrum, the large enterprises are expected to account for significant market share by 2027, because of increasing demand for reliable & safe power solutions, and widespread use of cloud computing technologies in organizations.
Competitive dashboard:
Speaking of competitive arena, Vertiv Co., Toshiba Corporation, SolarEdge Solution, SOCOMEC Group S.A., Siemens AG, Schneider Electric SE, Mitsubishi Electric Corporation, Legrand S.A., Huawei Technologies Co. Ltd., EnerSys, Emerson Electric Co., Eaton Corporation plc, Ablerex Electronics Co. Ltd., and ABB Ltd. are the leading players influencing North America UPS market dynamics.
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The UPS market is projected to record exponential growth by 2028 on account of the advent of energy-efficient UPS solutions across the globe. Recent technological advancements in UPS technology have decreased operating costs, improved security, enhanced energy efficiency, and reduced environmental footprint, which has augmented industry adoption over the past few years. In addition, increasing penetration of cloud technologies has also propelled market expansion. On the regional front, the Latin America UPS market is poised to develop at a considerable CAGR through the study timeline. Mounting product demand from the manufacturing industry is estimated to foster regional market expansion. The Middle East & Africa UPS market is expected to account for a sizable share in the overall market by the end of 2028, owing to the proliferating number of data centers in the MEA region.
Europe UPS Market Forecast 2027, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
Europe UPS market value will grow at a strong pace due to the large-scale digitization of the region's manufacturing sector. Introduction of advanced technologies like automation has helped many companies reduce their manual labor cost. This scenario has boosted the demand for UPS systems as they can provide a continuous flow of electricity and can protect critical equipment from severe damage caused by unexpected power outages. The COVID-19 pandemic had a negative effect on the growth of this industry as governments had announced strict movement and travel restrictions to contain the spread of the virus. Many manufacturing plants were forced to shut shop for a brief period, which impacted the production and sale of UPS units. But with the situation improving every day, the demand for these systems will rise, which will help Europe UPS market share reach a valuation of over USD 3.5 billion by 2027.
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