Global UPS Market 2018-2022| Increased Use of Lithium-ion Batteries for UPS to Boost Growth| Technavio
The global UPS market is expected to post a CAGR of over 5%
during the period 2018-2022, according to the latest market research
report by Technavio.
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Technavio has published a new market research report on the global UPS market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the rise in refining
capacity. The oil and gas industry is growing post the sudden drop in
crude oil prices in 2014. The increase in oil and gas exploration and
refining is due to the increase in unconventional gas exploration and
offshore exploration projects, which were put on hold due to price
fluctuations. The global natural gas market is expected to experience
growth. However, companies must incur expenses for downtime in the
industry. Hence, the need to integrate UPS systems according to the
needs of the industry is essential to reducing risks and, in turn,
expenses.
This market research report on the global
UPS market 2018-2022 also provides an analysis of the most
important trends expected to impact the market outlook during the
forecast period. Technavio classifies an emerging trend as a major
factor that has the potential to significantly impact the market and
contribute to its growth or decline.
This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing
In this report, Technavio highlights the increased use of lithium-ion
batteries for UPS as one of the key emerging trends in the global UPS
market:
Global UPS market: Increased use of lithium-ion
batteries for UPS
Lithium-ion batteries have a high energy density, which allows them to
be small and weightless. These batteries have a high charge-discharge
rate and have a lower cost when compared to VRLA batteries. Some of the
advantages include longer shelf-life, extended lifespan, thermal
stability, and a current density of 1,470Wh/Kg. Requirement of small
storage space and efficient UPS, large energy storage capacity, and
longer battery life and low maintenance requirements are some of the
other advantages of lithium-ion batteries.
“Manufacturers have started developing lithium-ion batteries rather
than VRLA batteries. Companies such as Schneider Electric are offering
lithium-ion batteries that last twice as long and are weightless
compared with conventional lead-acid batteries. The company integrated
its smart UPS system, which can adapt to power variations, with
lithium-ion batteries, specifically for data center applications for
providing optimal performance during variations,” says a senior
analyst at Technavio for research on energy storage.
Global UPS market: Segmentation analysis
This market research report segments the global UPS market by
application (non-residential and residential) and geographical regions
(APAC, EMEA, and the Americas).
The non-residential segment held the largest market share in 2017,
accounting for nearly 91% of the market. This application segment is
expected to dominate the global market throughout the forecast period.
APAC led the market in 2017 with a market share of nearly 40%. This
region is expected to dominate the market through 2022, with an increase
in its market share by nearly 2%.
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Some of the key topics covered in the report include:
Market Landscape
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Market ecosystem
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Market characteristics
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Market segmentation analysis
Market Sizing
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Market definition
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Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Regional comparison
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Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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Vendors covered
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Vendor classification
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Market positioning of vendors
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Competitive scenario
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