Global green UPS demand is anticipated to increase at a substantial rate over the forecast period from 2022 to 2032. Growth is attributed to increased adoption of green UPS devices across various applications such as IT networks and telecommunications.
Uninterrupted power supply (UPS) is an electrical device, which provides power supply to loads when power supply from the main station fails or drops to an inadequate voltage. It helps to prevent data loss and protects the sensitive computer parts from damage due to power fluctuations.
However, in conventional UPS devices, a lot of energy is wasted in the form of heat. This has triggered innovations in the UPS solutions and paved the way for the development of green UPS devices.
Green UPS solutions have advanced monitoring and thermal designing systems that reduce the heat generation. It is being estimated that the green UPS devices can reduce the power consumption up to 75% in comparison to traditional ones.
The rising costs of electricity coupled with growing environmental concerns is fueling the adoption of green UPS across diverse end-use sectors. These green UPS devices can significantly reduce the energy loss and thus help in saving energy. These are gradually replacing the conventional UPS devices due to their attractive features.
During the last few years, sales of green UPS solutions have risen at a robust pace and the trend is likely to continue in the future. Rising environmental concerns, increasing infrastructure investments, frequent fluctuations in power voltage and soaring energy costs are some of the major factors driving the green UPS market.
Moreover, expansion of information technology industry and increase in the number of data centers worldwide is positively impacting the growth of green UPS market.
Businesses are gradually shifting their preferences towards green UPS devices to minimize energy consumption and reduce bills. They (green UPS devices) are becoming new standard emergency power backup solutions in IT industries and data centers to meet the growing energy needs and environmental concerns.
Green UPS devices can be powered by solar panels. They are ideal power solutions as they do not involve the use of any hazardous substances or chemicals during their manufacturing. Rising shift towards using renewable natural resources will therefore foster the demand for green UPS solutions during the forecast period.
Various government initiatives are being launched to encourage the adoption of green and energy efficient solutions in various end use verticals such as manufacturing industries and data centers. This is anticipated to trigger the sales of green UPS devices during the forecast period.
Subsequently, rising urbanization and industrialization across the globe coupled with growing prominence of cloud computing is projected to create sales prospects for green UPS market in the future.
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Despite its growing popularity, the global green UPS industry is facing various challenges that are becoming impediments for its growth. Some of these restraining forces are the lack of awareness regarding green UPS solutions across some regions and rising cost of raw materials.
Asia Pacific spearheaded by China and India is anticipated to register the fastest growth over the forecast period on account of rising environmental concerns, increasing government support and surge in the number of data centers.
Counties like India and China are witnessing frequent power cuts and variable power supply incidents which increases the chances of damage to industries and businesses. Maintaining a good quality of power seems to be a difficult task in these countries due to the huge population and lack of resources. As a result, industries and businesses are increasingly adopting green UPS solutions to stabilize this power variation and eliminate the risk of damage to both computer systems and data.
Government in Asia Pacific region is playing a crucial role in expanding the growth of green UPS market. Various initiatives are being constantly introduced to encourage people to use ecofriendly and energy saving products like green UPSs.
Furthermore, initiatives such as “Make in India” and “Made in China” are creating opportunity for regional market players to increase their sales.
According to Future Market Insights, North America remains the most dominant market for green UPS devices and the trend is likely to continue in the foreseeable future. Growth in market is driven by rising energy costs, heavy presence of leading market players, rapid expansion of IT industry and growing awareness among people regarding the benefits of using green UPS solutions.
Over the last couple of years, there has been substantial increase in the number of data centers in countries like the United States. These countries are becoming hubs of data centers due to the presence of technological giants such as Microsoft and Google. According to the U.S. Department of Energy, there are over 3 million data centers in United States. This is positively impacting the growth of green UPS market in the region.
Moreover, rising penetration of cloud technologies and implementation of stringent government regulations is supporting the adoption of green UPS solutions in the region.
Some of the key participants present in the global green UPS market include Cyber Power Systems Inc., Emerson Network Power Inc., Eaton Corporation PLC, Falcon Electric Co., General Electric Co., Numeric Power Systems, Rittal Corporation, Smart Power Systems, Socomec, Tech Data Corporation, and Tripp Lite.
Leading players operating in the global green UPS market are leveraging various strategies such as innovative product launches, establishment of new facilities, strengthening of omni distribution channels and partnerships with end users to increase their sales.
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CAGR of XX% from 2022 to 2032
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FMI projects the global green UPS market to expand at a healthy CAGR during the forecast period from 2022 to 2032.
Which region is forecast to be the most lucrative green UPS market?
Cyber Power Systems Inc., Emerson Network Power Inc., Eaton Corporation PLC, Falcon Electric Co., General Electric Co., Numeric Power Systems, Rittal Corporation are some prominent green UPS manufacturers