The UPS is the electric device that has a rectifier for providing the backup power to the system whereas the inverter converts DC into AC. The main function of the UPS is to store the electric supply whereas the inverter converts the AC power into DC power. Similarly, a power inverter, inverter or invertor is a power electronic device or circuitry that changes direct current (DC) to alternating current (AC). The resulting AC frequency obtained depends on the particular device employed. Inverters do the opposite of rectifiers which were originally large electromechanical devices converting AC to DC.
MARKET DYNAMICS
Increasing investments in renewable energy sector and rising number of solar installations attributed to government-led incentives and schemes are driving the growth of UPS and inverter market. However, high installation costs and costly maintenance may restrain the growth of UPS and inverter market. Furthermore, increasing demand for zero power downtime from various sectors is anticipated to create a market opportunity for UPS and inverter market during the forecast period.
MARKET SCOPE
The "Global UPS and Inverter Market Analysis To 2028" is a specialized and in-depth study of the energy and power industry with a special focus on the global market trend analysis. The UPS and inverter market report aims to provide an overview of the UPS and inverter market with detailed market segmentation by product type, application, and geography. The global UPS and inverter market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading UPS and inverter market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global UPS and inverter market is segmented on the basis of product type and application. Based on product type, the UPS and inverter market is segmented into: UPS and inverter. On the basis of application, the UPS and inverter market is segmented into: commercial, residential, and industrial.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global UPS and inverter market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The UPS and inverter market by each region is later sub-segmented by respective countries and segments. The UPS and inverter market report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the UPS and inverter market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis highlighting factors affecting the UPS and inverter market in these regions.
IMPACT OF COVID-19 ON UPS AND INVERTER MARKET
The impact of the COVID-19 pandemic on the market is covered throughout the report. The pandemic had a negative impact on the UPS and inverter market. The COVID-19 pandemic has adversely affected the growth of the UPS and inverter market globally as the demand for UPA and inverters was reduced significantly. Governments worldwide have restricted many business activities to minimize the spread of the coronavirus. The wide expansions in the renewable energy sector which were planned by the government have also got shut-down due to the pandemic, this delayed the path that was targeted for the clean energy transition. Additionally, companies across different geographies had to shut down their manufacturing facilities and services as partial or full lockdowns were imposed to contain the pandemic. This resulted in increased procurement costs of raw materials due to the shortage of supplies, which ultimately led to delays in order closures. Thus, the pandemic has negatively impacted the demand for UPS and inverters in the short term.
MARKET PLAYERS
The reports cover key developments in the UPS and inverter market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from UPS and inverter market are anticipated to lucrative growth opportunities in the future with the rising demand for filter products in the global market. Below mentioned is the list of few companies engaged in the UPS and inverter market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the UPS and inverter market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Amara Raja Batteries Limited
- Ashok Leyland
- Cummins India Limited
- Exide Industries Limited
- Honda Siel Power Products Limited
- Kirloskar Oil Engines Limited
- Luminous Power Technologies
- Mahindra and Mahindra Limited
- Microtek International Pvt. Ltd.
- Su-Kam Power System Limited