India UPS Market to be Valued USD 2073 Million by 2030
Growing demand for power
backup solutions and increasing demand for green UPS are expected to increase
the growth of India UPS Market during the forecast period of 2024-2030.
According to TechSci Research
report, “India UPS Market – By Region, Competition Forecast &
Opportunities, 2018-2030, India UPS market was valued USD 1165 million in
2022 and is projected to grow at CAGR of 8.20% through the forecast period.
Lithium-ion batteries, which have several benefits over conventional lead-acid
batteries, including a better energy density, a longer lifespan, and quicker
charging periods, are becoming more and more popular in UPS systems in India.
As the price of lithium-ion batteries continued to drop, it was anticipated
that this trend would persist over the following years. Additionally, the India UPS
system industry is witnessing the emergence of cloud-based UPS systems that
provide real-time monitoring and remote management capabilities, enabling
businesses to optimize their power usage and reduce energy costs. Additionally,
with the growing adoption of electronic devices and increasing dependence on
technology in various sectors such as IT, healthcare, and BFSI (banking,
financial services and insurance), there is a high demand for reliable power
supply solutions in India. This has resulted in a significant rise in the
demand for UPS systems in the country.
There is a growing trend in
India towards using eco-friendly UPS systems that are energy-efficient and have
a low carbon footprint. It is driven by the need to reduce energy consumption
and operating costs, while being mindful of environmental sustainability.
Moreover, the increasing adoption of cloud computing and data centers in India have
led to a surge in demand for high-performance UPS systems that can ensure
uninterrupted power supply to these critical infrastructure facilities. Additionally,
because of their high energy density, longer lifespan, and little maintenance
needs lithium-ion batteries are growing in popularity in the Indian UPS
industry. As a result, several UPS manufacturers are converting their equipment
to use lithium-ion batteries. The rising use of modular UPS systems helps companies
to scale their power capacity without replacing their whole UPS system, which
is likely to proliferate the demand for UPS across the nation.
Browse
over 47 market data Figures spread through 153
Pages and an in-depth TOC on "India UPS Market.”
The
India UPS Market is segmented based on type, rating, application, sector,
region, and company. Based on type, the market is fragmented into online,
offline, and line interactive. Based on rating, the market is segmented into
5.1 kVA - 50 kVA, 50.1 kVA - 200 kVA, less than 5kva, and others. Also, the segmentation
of market based on application is commercial, industrial, government, and residential.
Based on sector, the market is segmented into data centers, OEM
(manufacturing), IT (excluding data centers), BFSI, housing, healthcare,
railways, oil & gas, power, solar, and others. Based on region, the market
is segmented into north, south, east, and west.
Based
on sector, data center segment dominates the India UPS Market, accounting for a
market share of 20.67% in 2022. This segment is expected to maintain its market
dominance in the forecast period due to the constantly growing demand for data
centers in the country. India's data center capacity is approximately 870 MW,
powered by 138 data centers, and is likely to cross 1,700 MW by 2025. Hence,
the India UPS Market is anticipated to grow further in the forecast period.
Based
on rating, 5.1 kVA - 50 kVA segment in the India UPS Market stood at USD 356.45
million, with a market share of 30.57% in 2022. The market is projected to
reach USD 644.74 million in the forecast period, exhibiting a CAGR of 8.43%, due
to high deployment of personal computers in the corporate, residential,
e-commerce, healthcare, and government sectors as the UPS range of 5.1 kVA - 50
kVA is used to fulfill the power requirement for small to medium-sized
companies across all these sectors. In addition, India is expected to become a
manufacturing hub over the coming years with government efforts to support the
continued expansion of various sectors.
Based
on region, South India region accounted for the largest share of 31.68% in the
India UPS Market in 2022. This segment is expected to maintain its market
dominance in the forecast period, owing to the presence of several investments
and initiatives that have contributed to the rise of the market in the region.
Major
market players operating in the India UPS Market are:
- Vertiv
Energy Pvt Ltd.
- Schneider
Electric India Private Limited
- Numeric
Power Systems Limited
- Fuji
Electric India Pvt. Ltd
- Hitachi
Hi-rel Power Electronics Private Limited
- Microtek
International Private Limited
- Eaton
Power Quality Private Limited
- Socomec
Innovative Power Solutions
- Reillo
Power India Pvt Ltd.
- Delta
Power Solutions India Private Limited
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“Rising investment in IT,
cloud computing, data center, and manufacturing industry along with the aim of
making India self-reliant under various government policies like Make in India,
Digital India, and Atmanirbhar Bharat, is likely to increase the demand for UPS
systems across India. Additionally,
cloud-based networks are becoming more prevalent. As businesses throughout the
nation switch to cloud-based networks rather than maintaining their
infrastructure, this may be attributed to greater integration. Additionally,
since industry 4.0, financial technology, digital infrastructure, and
communications are being transformed by greater investment and use of
artificial intelligence, the Internet of Things (IoT), and machine learning,
results in increasing the demand for UPS systems.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based India
management consulting firm.
“India UPS Market By Type
(Online, Offline, Line Interactive), By Rating (Less than 5kVA, 5.1 kVA - 50
kVA, 50.1 kVA - 200 kVA, Others), By Application (Commercial, Residential,
Government, Industrial), By Sector (Data Centers, OEM (Manufacturing), IT
(Excluding Data Centers), BFSI, Housing, Healthcare, Railways, Oil & Gas,
Power, Solar, Others), By Region, Competition, Forecast & Opportunities,
2018-2030”,
has evaluated the future growth potential of India UPS market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India UPS Market.
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