Posted On: 2020-11-27
The commercial sector acquired the largest revenue share in the uninterruptible power supply systems market in India, on the basis of its application - 6Wresearch
Owing to an increased demand for uninterrupted power supply in the commercial sector as a result of the ongoing digitalization of the country, the India uninterruptible power supply systems market revenues witnessed moderate growth during the period 2016-2019. Increasing investments in the IT, manufacturing, healthcare, education and retail sector is one of the primary factors driving the UPS market revenues in India. However, the outbreak of the COVID-19 pandemic is anticipated to bring a slowdown in the market during the year 2020 as a result of halt in the business operations, manufacturing units and the stringent lockdown imposed in the country. The market revenues are anticipated to return on the normal growth trajectory post-2020, with a gradual opening of economic activities, restart of on-campus business operations and re-opening of manufacturing facilities & educational institutions.
According to 6Wresearch, the India uninterruptible power supply systems market size is projected to grow at a CAGR of 5.8% during 2020-2026F. With the aim of making India self-reliant, the government of India initiated several policies and schemes that comprise of Make in India, Digital India and the Atmanirbhar Bharat concept. These policies have given a boost to the manufacturing sector of the country, thus, generating huge demand for power backup solutions such as UPS systems in the recent past. Further, continued expansion in the manufacturing sector as the Union Cabinet has passed a national policy on electronics which is expected to create a US$ 400 billion manufacturing industry by 2025 in India, along with several upcoming data centers to be set up by Amazon, Oracle, Nxtra, Digital Reality and the joint venture of the Oricon Enterprises and TecnoCap group, would propel the demand for uninterruptible power supply systems in India over the years to come.
According to Alpana Tyagi, Research Analyst, 6Wresearch, “The commercial segment acquires the position of the major contributor towards the India UPS market revenues in the current market scenario, owing to the high demand for UPS systems in commercial buildings, retail, offices, data centers, and telecom industry. The commercial sector is anticipated to dominate the market revenues during the forecast period as well on account of the increasing digitization of the Indian economy that aims to bring advanced infrastructure for several verticals such as the healthcare, BFSI, and telecom industry.
The upcoming investments from Global giants like Amazon, NTT, Digital Reality, Extra for establishing data center infrastructure, underpinned by the digitalization of center and state government office would further accelerate the growth of the Indian UPS industry over the coming years.” Alpana further added
According to Rahul Dubey, Research Associate, 6Wresearch, “India UPS market revenues were dominated by Southern region during the year 2019 on the back of huge demand from the large commercial sector and IT hubs in several cities across Southern India. In the second edition of the Global Investor Meet held in January 2019, Tamil Nadu has signed an MoU with multiple companies worth Rs 11,974 crore for the IT sector. Such investments and the several data center projects coming in the southern cities would accelerate the growth of IT sector in Southern India, thus, generating a huge demand for UPS systems over the coming years.”
“India Uninterruptible Power Supply Systems Market (2020-2026F)” report provides an in-depth analysis with 24 figures and 6 tables, covered in 88 pages. The report estimates and forecasts the India Uninterruptible Power Supply Systems Market by kVA Ratings, 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 devise and align their market strategies according to the current and future market dynamics.