|
Forecast Period
|
2023-2028
|
|
Market Size (2022)
|
USD 349.34 Million
|
|
CAGR (2023-2028)
|
11.5%
|
|
Market Size (2028)
|
USD 660.32 Million
|
|
Fastest Growing Segment
|
Northern & Central Region
|
|
Largest Market
|
Online UPS
|
Saudi Arabia UPS (Uninterruptible Power Supply) market is
anticipated to grow at a steady CAGR during the forecast period 2024-2028.
An uninterruptible power supply (UPS) is a component that
enables a computer to continue operating for at least a brief period when the
power supply is interrupted. Utility electricity maintains and replenishes the
energy storage if it is in use. The more energy that can be stored, the longer
electricity can be sustained.
A UPS or Uninterruptible
Power Supply is designed to provide protection to sensitive electrical
equipment, including computers, data centers, and telecommunications systems,
among others, from sudden power outages. In situations where a power outage
could lead to loss of data or even harm, a UPS serves as a critical backup
power source. Once the UPS is charged and connected to the device, it can
provide backup power for 15-20 minutes or more, depending on the device's power
consumption. Beyond preventing data loss, the UPS can also help prevent
hardware damage by regulating power input and preventing sudden fluctuations in
current. The number of data centres is increasing globally, remote work or work
from home (WFH) is becoming more popular, and the manufacturing industry is
expanding. All these factors are significantly affecting the need for
Uninterruptible Power Supply (UPS) systems in the residential and commercial
sectors. Additionally, the expanding healthcare and tourist sectors are further
involved in boosting Saudi Arabia's UPS market revenue.
Increase in Demand for Reliable
Power Supply.
The Saudi UPS market is
being primarily driven by several factors, including the increasing need for
reliable power supply in the country. This demand has been boosted by
significant investments by the government in infrastructure development,
thereby contributing to the growth of the UPS systems industry. Furthermore, the
growing IT and telecom sector has led to an increase in demand for UPS systems.
The healthcare and industrial sectors have also witnessed a rise in demand for
power backup solutions, further fuelling market growth.
Additionally, the rise in
disposable family incomes in Saudi Arabia has led to increased sales of
electrical equipment, such as refrigerators, air conditioners, televisions, and
microwaves. This increase in demand for electrical equipment is also expected
to drive demand for UPS batteries. As a result, the UPS market is poised to
experience rapid expansion throughout the forecast period due to the
aforementioned factors.
Green UPS Systems to Drive
the Market Growth
Energy prices have grown
considerably in recent years, and consumers have become more environmentally conscious.
As a result of these issues, several companies have developed green UPS
technology that consumes less energy. When compared to traditional UPS designs,
green UPS solutions can reduce power consumption by up to 75%. Therefore, when
purchasers compare UPS devices, one of the primary parameters they consider is
energy efficiency. In addition, improved monitoring and thermal design
technologies in green UPS systems reduce heat generation. As a result, demand
for green UPS is expected to expand considerably throughout the forecast period
due to an increase in the usage of green UPS devices in a number of
applications, including IT networks and telecommunications.