An uninterrupted power supply (UPS) can be described as an electrical gadget which supplies emergency power to another device or system connected to it when the main power line fails. UPS systems are critical for the functioning of many industries such as hospitals, banks, industrial units, living facilities, and many more. These emergency backup power systems not only keep the critical machinery running but also prevent data loss, reduce downtime, and protect the equipment from power surges and spikes.
Leading market research companies have painted a promising picture for the International UPS supplies market as well as the 3 phase UPS system market in the coming years.
Transparency Market Research predicts that the worldwide UPS market will gain a compound annual growth rate (CAGR) of 7.5 percent between 2017 and 2025 and will be worth $9,881.9 million by the end of the year 2025. If this prediction comes true, then it would be a significant growth from $5,201.9 million in 2016.
In terms of geographical area, back in 2016, Europe was the leading revenue generator of the UPS global market followed by North America. Transparency Market Research states that the trend will stay the same with the above-mentioned continents holding the fort between 2017 to 2025. Alongside the revenue growth, there will be stiff competition among some of the key players of the UPS market, such as Eaton Corporation, Mitsubishi Electric Corporation, Emerson Electric, and many more.
While the future seems bright for the UPS market worldwide, the same can also be said for the 3 phase UPS market.
The power circuit of the 3 phase UPS systems unites three types of alternating currents into one single phase by 120 degrees. Due to this unique combination, the power of the phase never declines down to zero and makes it possible for the UPS to handle more load. Thus, 3 phase UPS systems can be described as an electrical supply which merges together three separate sine waves that are generated from the National Grid.
Industries which require high kVA or kilo (Volt X Amp) generally use 3 phase UPS supplies. These specialized backup emergency supplies are used in sites which need to distribute a large amount of power over a great distance or area. Large buildings, industrial plants, data centers, healthcare, and its affiliated services are some of the common patrons of 3 phase UPS systems.
The market research company Technavio in its market survey stated that the 3 phase UPS supply market will register a growth of 7 percent CAGR between the time period of 2017 and 2021. The primary influencing factor behind the revenue rise has been predicted to be the increase in the use of modular UPS systems. In terms of total accumulated revenue, Technavio predicts that the global market of 3 phase UPS will gain a total of $5.975 billion compared to 2016’s $4.294 billion. Thus, we can expect to see an incremental growth of $1.681 billion in the next four years.
Apart from revenue and growth predictions, the analysts at Technavio have also identified 3 emerging trends, which are going to dominate the 3 phase UPS global market between 2017 and 2021.
In case the predictions hold true, a positive future lays ahead for the UPS global market and the 3 phase UPS market. Industries and major corporates are slowly and steadily becoming more ecologically conscious and are trying to incorporate energy efficient technologies to power and support them. So, UPS supplies will still play a major role in the companies’ productivity while using a different technology in the future.