The UPS market is expected to witness substantial growth over the next few years, which can be attributed to the growing demand of the high power range systems. Increasing trend towards the adoption of UPS systems as an essential power-back up device is expected to favorably impact the market growth over the forecast period. There is a growing trend of recognizing these systems as an essential power backup device for performing work more effectively and efficiently. Technological advancement and the availability of data center rack solutions are also expected to foster market growth. The UPS market is expected to witness perennial demand across several industry verticals including BFSI, plant automation, IT/ITES, government, healthcare, education, telecom and hospitality.
UPS devices have moved from traditional bulky sizes to compact rack solutions for data centers, which constitute a crucial industry vertical. Factors such as increased demand from new markets in Tier II & III cities, solar UPS systems’ development, and indispensable needs from various sectors are expected to drive the market over the forecast period. The three primary UPS categories are on-line, line interactive and standby.
Leading market players have emphasized on incorporating green/energy efficient products in their portfolio to address growing environmental concerns. The market is expected to move towards consolidation as large vendors have shown inclination towards acquiring brands having significant geographic presence. Key industry participants include Luminous Power Technologies Ltd., Su-Kam Power Systems Ltd., Microtek International Private Ltd, Delta Power Solutions Pvt. Ltd., Hitachi HI-REL Power Electronics Pvt Ltd., American Power Conversion Corporation, Techser Power Solutions Pvt Ltd., and Consul Consolidated Pvt. Ltd.
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