LONDON--(BUSINESS WIRE)--The UPS battery market is expected to grow by USD 3,250.76 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
In recent years, there has been a significant growth in the construction of data centers, which is facilitated by the increasing digitalization and growing demand for cloud-based service offerings in many countries. The market is already experiencing good growth in developed nations such as the UK and the US. It is also experiencing significant growth in developing regions such as Latin America and APAC. The demand for cloud-based services is encouraging Communication service providers (CSP) such as Google, Microsoft, and AWS to increase their data center footprint through the establishment of hyper-scale data center facilities. For instance, in February 2019, Google announced its plans to invest USD 13 billion in data centers and offices across the US to offer improved services. UPS is a mandatory part of the infrastructure in a data center, the construction of new data centers will drive the growth of the UPS battery market during the forecast period.
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As per Technavio, the use of Li-ion based UPS systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
UPS Battery Market: Use of Li-ion based UPS systems
Maintenance of lead-acid batteries is considered to be a major challenge for data center operators because of the need for regular monitoring and replacement. Lead-acid batteries must be replaced regularly within 3-5 years in data centers. Thus, there is a high demand for Li-ion batteries as they provide a longer backup time and require minimal maintenance and less space in data centers compared with lead-acid batteries. The lifetime of Li-ion batteries is also almost ten years, which is twice the life of lead-acid batteries. Many companies in the market, namely Vertiv, ABB, and Schneider Electric, are involved in offering UPS systems that use Li-ion batteries. In April 2019, Vertiv launched new Li-ion batteries in a standard-sized cabinet with its large-capacity UPS. Thus, the growing use of Li-ion batteries will have a significant impact on the growth of the market.
“Factors such as the increasing need for continuous power supply, advances in UPS technology and the increasing market for green data centers will have a positive impact on the growth of the UPS battery market value during the forecast period,” says a senior analyst at Technavio.
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UPS Battery Market: Segmentation Analysis
This market research report segments the UPS battery market by product (Lead-acid, Li-ion and NiCd), and geography (North America, APAC, Europe, South America and MEA).
The APAC region led the UPS battery market in 2019, followed by North America, Europe, MEA and South America. During the forecast period, the APAC region is expected to register the highest incremental growth due to the increasing use of UPS in the railway, wind, power, and other sectors.
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Some of the key topics covered in the report include:
Product
- Lead-acid
- Li-ion
- NiCd
Geographic Segmentation
- North America
- APAC
- Europe
- South America
- MEA
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
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