India UPS Market to Surpass US$ 1.2 Billion by 2020
Growing Demand from IT / ITeS and BFSI sectors coupled with prevailing power deficit scenario in the country to boost demand for UPS systems in India till 2020
According to recently published TechSci Research report, “India UPS Market Forecast and Opportunities, 2020”, the market for UPS systems in India is projected to surpass USD1.2 billion by 2020. Demand for electricity has been witnessing exponential growth from all sectors across India over the last decade. The energy deficit stood at 4.2% in 2013-14 as compared to 8.5% during the fiscal year 2012. With increasing government emphasis on power generation, the overall power deficit in country has reduced over the past five years, however, states like Uttar Pradesh and Jammu & Kashmir continue to face power crunch.
Growing demand from diverse sectors such as IT and IT enabled services (ITeS); banking, financial services and insurance (BFSI); government, manufacturing, telecom and energy sectors continues to drive the UPS market in India. Government’s initiative to computerize its various departments coupled with ‘The National e-Governance Plan’ is expected to boost the demand for low-end UPS systems through 2020. Increasing demand for high-end UPS is expected to emanate from growing installations of high-end electronic equipment and machineries in industrial set-ups. Increasing penetration of IT/ITES sector in Tier-II & Tier II cities of the country is also anticipated to boost the demand for UPS systems in the coming years.
“Up to 50 kVA UPS have been dominating the country’s UPS market, both in value as well as volume terms. However, the share of high-end (above 50 kVA) UPS systems is also expected to increase by 2020 on accounting of anticipated industrial and manufacturing growth over the next five years. Moreover, growth in IT/ITeS, BFSI and telecom is expected to continue generating demand for low- and medium-end UPS over the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India UPS Market Forecast and Opportunities, 2020” has analyzed the potential of UPS market and provides statistics and information on market structure and consumer behavior trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the UPS market in India.
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