Growing demand for power backup solutions and supply push for booming business are driving the growth in India UPS Market during the forecast period.
According to TechSci Research report, “India UPS Market – By Region, Competition, Forecast & Opportunities, 2018-2028”, India UPS Market stood at INR84794.76 million in FY2022 and is expected to register a CAGR of 7.32% to reach INR127485.20 million by FY2028. With rising dependence on electricity in the country, expanding commercial and industrial segments, and power outages being a frequent occurrence in the country, specifically during peak consumption hours, an uninterrupted power supply has become a mandate. Therefore, measures such as installing UPS systems are an obvious necessity for the various economic segments of the country to work efficiently with negligible downtime. Furthermore, with clean energy being highly encouraged by the government and decentralization of the grid in the country using off-grid renewable resources such as wind and solar power, the green UPS has been gaining momentum in the country, further boosting opportunities for the India UPS Market.
The National e-Governance Plan, which intends to usher in an age of e-governance, has provided extra impetus. The initiative’s major goal is to computerize and digitize numerous government offices and agencies, which requires a continuous supply of electricity, thereby creating a fulcrum for the expansion of the UPS industry. Furthermore, initiatives such as Pradhan Mantri Gramin Digital Saksharta Abhiyaan (PMGDISHA) and Pradhan Mantri Kaushal Vikas Yojana (PMKVY) aims to bridge the digital divide. Thus, such initiatives toward digital India are likely to drive India UPS Market.
Power backup has become more popular in a variety of industry sectors. Numerous corporations consider UPS systems as a necessary power backup to enable ongoing operations throughout enterprises. Many manufacturing businesses, particularly oil and gas, petrochemical and refining, and vehicle design, use UPS systems for power backup to avoid data and productivity loss. Thus, the India UPS market shall thrive owing to the growing industrialization, growth in economy, and rising demand for electricity.
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The India UPS market is segmented into type, rating, application, sector, region, and company. Based on type, the market is further fragmented into online, offline and line interactive. Based on rating, the market is segmented into 5.1kVA-50kVA, less than 5KVA, 50.1kVA-200kVA, and others. Based on the kVA rating, the 5.1 kVA – 50 kVA rating devices are anticipated to register the highest revenue in the overall India UPS system market during the forecast period owing to high deployment of personal computers in the corporate, residential, E-commerce, healthcare and government sector. In addition, India is to become a manufacturing hub over the coming years with government efforts to support the continued expansion of various sectors. This is attributed to the growing application of such uninterrupted power supply systems in small and medium-scale applications for computers, printers, or scanners.
Major market players operating in the India UPS market are:
- Schneider Electric India Private Limited
- Microtek International Private Limited
- Numeric Power Systems Limited
- Hitachi Hi-Rel Power Electronics Private Limited
- Vertiv Energy Pvt. Ltd.
- Eaton Power Quality Private Limited
- Socomec Innovative Power Solutions
- Fuji Electric India Pvt. Ltd
- Riello Power India Pvt. Ltd.
- Delta Power Solutions India Private Limited
- Aplab Limited
- Uniline Energy Systems Pvt.Ltd.
- Renutron Power Solutions India
- EnerTech UPS Pvt. Ltd.
- ABP Power Solutions Pvt Ltd
- ARVI Systems & Controls Pvt. Ltd
- Hykon India Limited
- Switching Avo Electro Power Limited
- Power-One Micro Systems Private Limited
- Powernet Solutions Pvt. Ltd.
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“South India region is expected to account for the largest share of 32.13% in India UPS Market in FY2028. This region is expected to maintain its market dominance over the next five years owing to several investments and initiatives that are attributed to the rise of the market in South India region. Rising investment in the IT, cloud computing, data center, and manufacturing industry under the various government policies such as Make in India, Digital India, and the Atmanirbhar Bharat initiatives are the major factors driving the growth of India uninterruptible power supply systems market”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm
“India UPS Market Segmented By Type (Online, Offline, Line Interactive), By Rating (Less than 5kVA, 5.1 kVA – 50 kVA, 50.1 kVA – 200 kVA, Others), By Application (Commercial, Residential, Government, Industrial), By Sector (BFSI, OEM(Manufacturing)), Solar, Railways, Oil & Gas, Power, Healthcare, IT, Housing, Others), By Region, Competition, Forecast & Opportunities, 2018-2028”, has evaluated the future growth potential of the India UPS market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India UPS market.
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