"Power shortage all across India and technology advancement to conserve energy has pull the demand of power back solution. It has been observed that there is a growing demands for continuous power supply from Tier II and Tier III cities along with government initiatives."
India being a power shortfall country has a huge market for Power back up solution. There has been a developing pattern in perceiving UPS systems as a basic power back up gadget as about each association today utilizes PCs to smoother their work processes. Data centers, E-commerce business, servers, and industrial plant require abnormal state of continuous power supply and in this way producing critical interest for high power scope of UPS systems in India.
According to recently published report of Bonafide Research "India Uninterruptible Power Supply (UPS) Market Outlook, 2023" Increasing disposable income and expansion of industries have resulted in increased spending on UPS systems in India. The market is expected to grow with a CAGR of more than 8% from 2018-23. The UPS Market in India is currently depending on low range UPS Market Less than 5kVA constituting for over half of the total UPS market. The IT and IT enabled services (ITeS); banking, financial services and insurance (BFSI); government, manufacturing, telecom and energy sectors are currently witnessing a growing demand in India. Government initiative includes smart cities projects and national e-governance plan has pulled the demand of UPS systems. With the introduction of GST and BIS, organised players are playing safely in UPS market. On other hand, unorganised sector is continuously reducing and has been marginalised because of low profit margins.
Technologies advancement that are used in the making of UPS systems are not only getting more efficient but also greener. Modern UPS systems offer the dual advantage of lower carbon footprint and greater energy efficiency. UPS suppliers are not limiting themselves to only supplying equipment. Instead, they are undertaking complete power management for their clients. The commercialization of solar power technology in UPS systems can provide a drastic cut in energy bills, the capital costs are on the higher side. Solar UPS systems are finding applications in large retail outlets in tier-II and tier-III cities where grid power is relatively unstable.
The accelerating change toward digitisation, Internet of Things (IoT), software as a service (SaaS) and cloud computing is giving a enormous enhance to the adoption of uninterruptible power supply (UPS) systems across different applications. It is expected that the demand of above 200kVA UPS system will increase in forecasted period due to continuous demand from data centers and industrial hubs.
Major companies operating in the UPS market of India are Vertiv Energy Private Limited, Schneider Electric India Private Limited, Eaton Power Quality Private Limited, Delta Power Solution (India) Private Limited, Hitachi Hi-Rel Power Electronics Private Limited, Swelect Energy Systems Limited, Luminous Power Technologies Private Limited, Microtek International private limited, V-Guard Industries Limited, Su-Kam Power Systems Limited
Report: India Uninterruptible Power Supply (UPS) Market Outlook, 2023
Base Year: 2017
Estimated Year: 2018, Forecast Year: 2023
Pages: 115, Figures: 30, Tables: 20