Schneider Electric to Continue Dominating India UPS Market through 2023
Growing digitalization, development
of smart cities along with booming commercial sector to drive growth in India
UPS market through 2023
According to TechSci
Research report “India UPS Market
By Type, By Application, By Rating, Competition Forecast & Opportunities, 2023’’,
India UPS market is projected to grow at CAGR of over 9% during 2019 - 2023 on
account of anticipated growth in the country’s commercial sector and the government’s initiatives towards
development of smart cities and ‘Digital India’. Moreover, increasing demand for UPS from
tier 2 and tier 3 cities along
with technological developments is
further likely to steer growth in the country’s UPS market. Additionally, increasing adoption of modular UPS
systems due to their higher efficiency and reliability is anticipated to
positively impact India UPS market during the forecast period.
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Schneider Electric India Private Limited
accounted for the largest share in India UPS market in 2017, and the company is
likely to maintain its dominance through 2023 as well. Schneider Electric is
followed by Numeric Power Systems Limited, Emerson Network Power (India) Private
Limited (Vertiv), and Hitachi Hi-Rel Power Electronics Private Limited, among
others. Commercial and industrial sectors have the largest
application shares in terms of value in India UPS market in 2018. A large
demand for UPS emanates from South India which can be attributed to strong
growth of IT/ITES sector in the regions coupled with growing demand for
uninterrupted power in the commercial and industrial sector.
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“Technological developments
for the use of customized power solutions and increasing adoption of modular
and green UPS systems in India is likely to provide better energy storage
solutions across the country. Moreover, rising
demand for power supply in non-metro cities due to growing industrial and
commercial infrastructure is further expected to positively influence the UPS
market in India over the course of next five years.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India UPS Market
By Type, By Application, By Rating, Competition Forecast & Opportunities, 2023”
has evaluated the
future growth potential of India UPS market and provides statistics and
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 decision. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges and opportunities
in India UPS market.
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