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UPS Battery Industry Insights:
UPS Battery Market Share 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 CAGR of 11.00% during the forecast period (2023 – 2032).
One essential component of an uninterruptible power source is the battery (UPS). The UPS battery is responsible for the device’s long lifespan and effective operation. As a result, battery maintenance is essential. The three main varieties of UPS batteries that are accessible to the community of end users, ranging from the commercial to the industrial sector, are lithium-ion (Li-ion), lead-acid, and nickel-cadmium.
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Key Companies Profiled
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UPS Battery Market Drivers:
1.Increasing Demand for Power Reliability: Growing reliance on electronic devices and critical infrastructure demands a continuous and reliable power supply.
Industries such as IT, healthcare, telecommunications, and manufacturing require uninterrupted power to prevent data loss, equipment damage, and disruptions.
2.Rising Frequency of Power Outages: Power outages, whether due to natural disasters or grid failures, are becoming more frequent. This trend drives the need for UPS systems to safeguard sensitive equipment and maintain business continuity.
UPS Battery Market Covid -19 impact
One of the major impacts has been the disruption of the supply chain, as many countries imposed restrictions on the movement of goods and people to contain the spread of the virus. This has led to delays in the delivery of raw materials and finished products, resulting in production slowdowns and increased costs.
However, the economic downturn resulting from the pandemic has also impacted the market, as many businesses have reduced their spending on infrastructure and capital investments. This has led to a decrease in demand for UPS batteries, particularly in industries such as manufacturing, construction, and transportation.
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Regional Analysis
The largest portion is now generated in the Asia-Pacific area, with a global demand share expected to reach 35.5% in 2020. Any power electronics manufacturer can enter the UPS market since the entry barrier is so low. As a result, UPS providers faced intense competition. Additionally, one of the biggest issues domestic players in nations like India and other South East Asian nations confront is a sharp rise in imports from China. For uses like textile, household, and small workplaces, units in the 10KVA or below range, based on both lead acid batteries and lithium-ion batteries, are imported from China.
Market Segment
The worldwide UPS battery market has been segmented into lead acid, nickel cadmium, lithium, and other battery types. Li-ion batteries are predicted to increase at a faster rate throughout the projection period due to their higher energy density, lower self-discharge rate, reduced maintenance requirements, better load characteristics, and higher stability compared to other types of batteries.
Small and medium-sized businesses (SMEs) and large businesses make up the two segments of the global UPS battery market, respectively, based on organization size. In 2019, the small and medium-sized business (SMEs) sector has the biggest market share. During the forecast period, the category of small and medium-sized businesses (SMEs) is expected to grow at the fastest rate.
Based on application, the global UPS market has been segmented into residential, commercial, data centers, and industrial. The industrial sector is anticipated to have the biggest market share in 2019 and to grow at the fastest rate throughout the forecast period.
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Industry News
In 2021, GS Yuasa added two new SWL batteries for UPS applications to their lineup.
The Middle East Energy event was held from March 5–7, 2020, and FIAMM Energy Technology S.p.A. was there. The FLB and FHT ranges, both using AGM technology and appropriate for security systems, UPS, and telecommunications, were on display at the event.
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