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The UPS (Uninterruptible Power Supply) battery market is a dynamic and quickly developing area that assumes a critical part in guaranteeing continuous power supply for different applications. The market elements of UPS batteries are impacted by a mix of variables, going from innovative progressions to the rising interest for dependable power arrangements.
One vital driver of market elements in the UPS battery industry is the steady advancement in battery innovation. As progressions in battery science and configuration keep on arising, makers can deliver batteries with higher energy thickness, longer life cycles, and further developed execution. These mechanical upgrades not just improve the general productivity of UPS frameworks yet additionally add to a more economical and harmless to the ecosystem power supply.
The developing dependence on electronic gadgets and basic foundation in different ventures is another huge variable forming the market elements of UPS batteries. With a rising number of organizations and families relying upon a constant power supply, the interest for solid UPS arrangements has flooded. This pattern is especially obvious in areas like IT, medical services, broadcast communications, and assembling, where even a short power interference can bring about information misfortune, hardware harm, or functional free time.
Market elements are additionally affected by the rising consciousness of the significance of reinforcement power arrangements in moderating the effect of blackouts. As organizations and people become more aware of the potential monetary and functional misfortunes related with influence interruptions, the reception of UPS frameworks with cutting edge battery innovations is supposed to develop. This elevated mindfulness is driving interests in solid power framework and adding to the development of the UPS battery market.
The cutthroat scene further adds to the market elements, with different makers competing for piece of the pie through item separation and cost seriousness. As a consequence of this, there is a constant focus on research and development with the goal of developing batteries that not only meet the performance requirements of UPS systems but also provide additional features like smart monitoring, remote management, and modular designs. This serious climate cultivates advancement and drives the market toward more productive and financially savvy UPS battery arrangements.
Unofficial laws and drivers likewise assume a part in molding the market elements of UPS batteries. Regulations promoting the use of eco-friendly battery technologies have resulted from environmental concerns and the push for sustainable energy solutions. In order to meet these regulations and meet global sustainability goals, UPS battery manufacturers are making investments in the creation of recyclable and environmentally friendly materials.
Technological advancements, a growing awareness of the significance of backup power, rising demand for dependable power solutions, competitive forces, and regulatory influences all contribute to the dynamic and multifaceted dynamics of the UPS battery market. As the world turns out to be all the more carefully associated and reliant upon continuous power, the UPS battery market is ready for proceeded with development and development, with producers endeavoring to meet the advancing necessities of different enterprises and add to a stronger and feasible power framework.
UPS Battery Market Highlights:
Global UPS Battery Market Overview:
The UPS Battery Market Size was valued at USD 0.8 Billion in 2022. The UPS Battery market industry is projected to grow from USD 0.88 Billion in 2023 to USD 2.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.00% during the forecast period (2024 - 2032). Quickly expanding cloud computing technologies or the round-the-clock reliance on network services for ensuring business continuity are the key market drivers boosting the market growth of UPS.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
UPS Battery Market Trends
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Growing digitization and automation are driving the market growth
The market CAGR for UPS batteries is driven by increasing digitalization and automation. The use of UPS batteries confirms that electrical devices and computers or any other devices remain in safe working order. The increased use of modular UPS systems, the increasing demand for collocation facilities, and the enlarging demand for UPS in IT infrastructure and BFSI are the primary factors driving the UPS battery market growth globally. Further, the growing demand for data centers is propelling the industry forward.
Additionally, the UPS market is expanded by increasing advances in data centers. Networking systems, servers, and storage resources comprise a data center, which arranges, stores, and processes data and information. Data centers are where an organization's essential applications are hosted. UPSs are used in data centers to provide backup power for a longer period since data centers require an undisturbed and stable power supply for proper networking, and power failures in data centers can disrupt operations and result in financial losses.
The installation cost for UPS systems is a major concern despite being a reliable and greatly responsive system guaranteeing a quick power supply. For instance, the number of private venture and equity capital dealers in startups in India raised from 628 in the previous year to 858 in 2021. Further, corporate premises on a large-scale run into dollars for the machinery alone. These major installations also need an infrastructure setup that can significantly increase the total setup cost. This makes it unaffordable and out of reach for the general public, hampering the market's growth.
The outbreak affected supply chains and business revenues due to border closings, factory shutdowns, and trade bans worldwide. However, with the launch of several markets globally, vaccination development, and initiatives taken by several governments to help economic & industrial growth, the future demand for UPS and UPS batteries is projected to grow positively and steadily in the coming years. Thus, driving the UPS Battery market revenue.
UPS Battery Market Segment Insights:
UPS Battery, Battery-Type Insights
The UPS Battery market segmentation, based on battery type, includes lead Acid, Nickel Cadmium, Li-ion, and Others. The li-ion segment dominated the market, accounting for the largest market revenue. This is attributed to higher energy density, lower self-discharge rate, and more stability than other types of batteries.
UPS Battery Organization Size Insights
The UPS Battery market segmentation, based on organization size, includes small and medium enterprises (SMEs) and large enterprises. The small and medium enterprises (SMEs) category generated the most income. This is attributed to the quick upgradation of small and medium enterprises globally. Small and medium enterprises sectors are highly dynamic as it helps in the region's socio-economic development. Furthermore, large enterprises are always involved in boosting this sector during the forecast period.
Figure 1: UPS Battery Market by Organization Size, 2024 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
UPS Battery Application Insights
The UPS Battery market segmentation, based on application, includes residential, commercial, data centers, and industrial. The industrial category recorded the highest growth owing to increasing requirements for energy storage systems and efficient power backup in several industries such as chemical manufacturing, power generation, recreation equipment, marine, and agricultural machinery & equipment. The use of small-sized lithium-ion batteries in portable devices and other consumer electronics is anticipated to boost market growth during the forecast period.
However, the commercial sector is expected to show significant growth during the forecast period since it is widely used in different applications like server rooms, large data centers, computer rooms, and other workstations. This segment covers offices, commercial buildings, and data centers.
UPS Battery Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American UPS battery market will dominate this market, owing to increasing demand from end-users, rising concerns of power outages, and the growing installation of backup power systems will boost the market growth in this region. Further, the US UPS battery market held the largest market share, and the UK UPS battery market was the fastest-growing market in the North American region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: UPS Battery Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe UPS battery market accounts for the second-largest market share due to the growing demand for non-residential infrastructure driving the market in this region. Further, the German UPS battery market held the largest market share, and the UK UPS battery market was the fastest-growing market in the European region.
The Asia-Pacific UPS battery market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to industrialization, urbanization, increased disposable income in developing countries, and favorable regulations to attract regional investments. Moreover, China’s UPS battery market held the largest market share, and the Indian UPS battery market was the fastest-growing market in the Asia-Pacific region.
UPS Battery Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the UPS battery market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the UPS battery industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the UPS battery industry to benefit clients and increase the market sector. Major players in the UPS battery market, including CSB Energy Technology Co., Ltd. (Taiwan), East Penn Manufacturing (US), Eaton (Ireland), Exide Industries Ltd. (India), FIAMM Energy Technology S.p.A. (Italy), GS Yuasa Corporation (Japan), and others, are attempting to increase market demand by investing in research and development operations.
Legrand SA is an electrical and digital building infrastructure company. The company designs, manufactures, and distributes electrical installations and power distribution products and systems. The company offers various products, including electrical and digital infrastructures in buildings, such as energy and data flow distribution, cable management and installation components, controls, and command products and systems. Its products find applications in offices, hotels, shopping centers, data centers, smart grids, and reference sites, among others. It serves commercial, industrial, and residential customers. In January 2021, Legrand Group's UPS brand in India, Numeric, announced the launch of its 3-Phase UPS Battery, Keor MOD. The firm said the development is designed to meet the needs of the IT, ITeS, data centers, infrastructure, and healthcare industry.
Fuji Electric Co Ltd is a developer of electrical products. Its business operations include thermal, geothermal, and hydraulic power generation; nuclear power-related equipment; solar power generation systems; energy management systems; watt-hour meters; and information systems. The company also offers transmission and distribution equipment, industrial power supply equipment; industrial drive systems, heating, and induction furnace equipment; factory energy management systems; data centers, clean room facilities; plant control systems, measurement systems, and radiation monitoring systems. Fuji Electric also installs electrical and air conditioning equipment; inverters/servo systems; motors; EV systems; transport systems; and uninterruptible power supply systems. In June 2019, Fuji Electric Co., Ltd launched the 7400WX-T3U, a high-capacity, uninterruptible power supply system, to strengthen its overseas power supply business.
Key Companies in the UPS Battery market include
- CSB Energy Technology Co., Ltd. (Taiwan)
- East Penn Manufacturing (US)
- Eaton (Ireland), Exide Industries Ltd. (India)
- FIAMM Energy Technology S.p.A. (Italy)
- GS Yuasa Corporation (Japan)
- Leoch International Technology Limited (Hong Kong)
- Schneider Electric (France)
- Vertiv (US)
- EnerSys (US)
- Active Power (US)
- Socomec (France)
- Toshiba Corporation (Japan)
- Kehua Data Co., Ltd. (China)
- Kokam Co., Ltd (South Korea)
- Saft Batteries (France)
UPS Battery Industry Developments
February 2021:Â Barrel Energy, a lithium-ion battery manufacturer based in the US, signed a memorandum of understanding with Hyderabad-based Roshan Energy Technologies to develop and manufacture lithium-ion batteries in India and North America. Barrel Energy stated that the company would become a majority stakeholder in Roshan Technologies to expand its Indian and international markets. Roshan Energy will likely provide its technical resources and expertise, while Barrel Energy is expected to help by providing funds and marketing abilities.
In 2020: FIAMM Energy Technology S.p.A. attended the Middle East Energy event from 5 to 7 March. At the event, the company showcased the FLB and FHT ranges with AGM technology suitable for security systems.
UPS Battery Market Segmentation
UPS Battery, Battery-Type Outlook
- Lead Acid
- Nickel Cadmium
- Li-ion
- Others
UPS Battery Organization Size Outlook
- Small and Medium Enterprises (SMEs)
- Large Enterprises
UPS Battery Application Outlook
- Residential
- Commercial
- Data Centers
- Industrial
UPS Battery Regional Outlook
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North America- US
- Canada
-
Europe- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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Asia-Pacific- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
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Rest of the World- Middle East
- Africa
- Latin America
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