Vietnam UPS Market is expected to register a steady CAGR during the forecast period 2024-2028

The Vietnam UPS Market is anticipated to grow between 2024 and 2028, driven by rising power consumption, expanding infrastructure projects, and an expansion in data centers.

According to TechSci Research report, Vietnam UPS Market by Type , By Region, Competition, Forecast & Opportunities, 2028F, the Vietnam UPS market is projected to grow in the south because of the area's rapid growth in the telecommunications sector. With the introduction of 5G in Vietnam, the range of batteries has increased. The requirement for industrial batteries to power the telecom towers to offer continuous power supply is growing as the number of telecom towers increases, which is projected to act as a driver for the expansion of the Vietnam UPS market during the forecast period.

In the dynamic UPS market, both branded and unbranded local manufacturers compete for shelf space and the best price. As a result, competitive strategies including partnerships, mergers, acquisitions, and collaborations are becoming more popular. Increasing demand has also kept the trend of technological innovation going in order to provide greater deals to clients. As a result, the industry is conducting more research and developing new products. One of the groundbreaking inventions is the online UPS, which is the most frequently used equipment in the world for shielding any vital electrical and electronic gear or data from power shortages and fluctuations. When the main supply or fluctuations exceed a particular threshold, a double-conversion UPS instantly changes to battery mode.

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Vietnam is expected to experience an increase in power demand and consumption over the next ten years, which would have an effect on national energy security, according to the Institute of Energy of Vietnam (IEV). One of the fastest electricity consumption growth rates in Asia is anticipated by the Vietnamese government to occur between 10 and 12% yearly until 2030. The rise of Vietnam's commercial and industrial sectors power consumption is predicted to fuel the country's UPS growth throughout the projection period.

The Draft PDP8 version, which was released in February 2022, predicted that the installed electricity capacity will total over 146,000 MW by 2030 and more than 352,000 MW by 2045. Proposed capacity predicts that coal will provide roughly 40% of electricity in 2031, down from an expected 50% in 2021. Natural gas, solar, and wind energy will make up a greater portion of electricity generation as coal's share declines. As a result, the growth of the renewable energy industry is likely to drive the Vietnam UPS battery market.

Vietnam UPS Market is divided on the basis of product, rating, sector and application. Based on product, the market is further divided into online, offline, and line interactive.

Based on rating, the market is divided into less than 5kVA, 50.1 kVA - 200 kVA, Others. On the basis of sector, the market is further segmented into BFSI, OEM(manufacturing), oil & gas, power, healthcare, IT, housing, and others. The BFSI sector is going to dominate this segment as large number of banking firms and offices are well established in the country, thus the demand of UPS supply also increases across the region.

Based on application, the market is further segmented into commercial, residential, government, and industrial. Owing to the government's emphasis on improving the country's social infrastructure, the commercial sector is likely to dominate this section in the coming years.

Key market players in the Vietnam UPS Market include: 

• ABB Limited (Vietnam)
• General Electric Company
• Schneider Electric Vietnam
• Delta Electronics Inc,
• Eaton Corporation PLC
• Socomec Asia Pacific Pte. Ltd.
• Riello UPS Singapore Pte. Ltd.
• Vertiv Group Corp
• Tripp Lite
• Toshiba International Corporation

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“Residential homes, small businesses, and major industrial companies are among the end-user applications that are increasingly using the UPS systems. Further driving the demand for UPS systems in Vietnam are elements including FDI inflow into the manufacturing and industrial sectors, rising energy demand, and expanding infrastructure projects. Owing to numerous forthcoming infrastructure projects in the region, the southern region is anticipated to experience the fastest growth rate over the next six years. Positive opportunities are also offered by the northern region for the installation of UPS systems there. Moreover, it is expected that the creation of Special Economic Zones (SEZ) in provinces such as Quang Ninh will expand UPS firms' potential in the Northern region. The Vietnam UPS market is expected to grow slightly throughout the forecast period due to the country's growing number of data centers, SMEs, and other commercial utilities. Thus all factors are expected to propel the Vietnam UPS market” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

Vietnam 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 Sector (BFSI, OEM(Manufacturing), Oil & Gas, Power, Healthcare, IT, Housing, Others), By Application (Commercial, Residential, Government, Industrial), By Region, Competition, Forecast & Opportunities, 2028, has evaluated the future growth potential of Vietnam UPS Market and provides statistics & information on market size, structure, and future market growth. The report's goal is to give current market knowledge and assist decision makers in making informed investment decisions. Furthermore, the study identifies and analyses emerging trends, as well as key drivers, challenges, and opportunities in the Vietnam UPS Market.

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