Tourism sector has been growing at a very robust pace over the last few years which has raised the demand for hotels, resorts and apartments. This has led to significant expansion of hospitality and construction sectors, which would lead to surge in demand for UPS in the country over the last few years. Moreover, in 2018, a total of 586 projects worth $356 million have been approved by Ministry of Land and an expected total number of 2,244 condominium units are expected to be introduced in the next three years which is further likely to raise the demand for UPS during the forecast period.
According to 6Wresearch, Cambodia UPS Market is projected to grow at a CAGR of 4.4% during 2019-25. Upcoming government plans, such as Cambodian Industrial Development Policy 2015-2025, is anticipated to boost the industrial sector and diversify the country's manufacturing portfolio which would pave way for the growth of UPS over the coming years. Further, increasing FDI in hospitality sector across Cambodia would help the UPS market to register significant growth during the forecast period.
According to Ravi Bhandari, Research Manager, 6Wresearch, "By end-user applications, commercial application has been the major revenue generating segment and would continue to maintain its ascendency during the forecast period as well on account of rising demand for UPS across several verticals such as hotels, BFSI, offices and hospitals. In addition, upcoming biggest data center development project and rising internet penetration would further raise the demand for UPS over the coming years. Additionally, upcoming hospitality projects such as, Avani Hotels and Resorts, Hotel Nikko Phnom Penh and Fairfield by Marriott would further drive the demand for UPS under the commercial sector as the demand for stable power supply would increase over the coming years."
According to Prashant Bhatia, Research Associate, 6Wresearch "The segment of Up to 1 kVA rating UPS acquired the maximum volume share in the overall Cambodia UPS Market for the last few years, succeeded by the 1.1-10 kVA rating UPS. On account of increasing supply of commercial office spaces, growing hospitality sector, growing BFSI sector and strengthening telecom infrastructure in the country, the demand for these aforementioned UPS segments would increase," Prashant further added.
According to Devesh Kumar, Research Associate, 6Wresearch "The government of Cambodia in partnership with China has been investing heavily in real estate sector across the region. In Phnom Penh, Siem Reap, Sihanoukville, Poipet, Bavet, Kep, and other parts of the country infrastructural projects are increasing at a rapid pace as massive investment, mostly from China is fueling a building boom in the country. Moreover, in the capital city of Phnom Penh there are several residential, commercial, and mixed-use development that are underway, in the pipeline. The aforementioned factors are expected to play major role in the growth of UPS market across the country."
"Southern Cambodia dominated the overall Cambodia UPS market revenues during 2018 owing to presence of various MNC's, commercial and industrial hubs across the region. Further, Southern Cambodia is anticipated to maintain its dominance during the forecast period as well owing to upcoming government plans such as Urban Development in Phnom Penh under which government would invest huge amount to build urban infrastructures across the region which would raise the demand for UPS in the coming years," Devesh further added.
Some of the prominent companies in Cambodia UPS Market include - Schneider Electric, Fida International, Vertiv Co., Socomec, Eaton, General Electric, Fuji Electric and ABB Ltd.
"Cambodia UPS Market (2019-2025)" report provides an in-depth analysis with 37 figures and 13 tables covered in 100 pages. The report estimates and forecast the overall Cambodia UPS Market by kVA rating, phases, applications and regions. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.