|Kuwait is one of the fastest growing economies in the entire GCC region. The country is experiencing large scale investment in the commercial and industrial sectors which is helping to recover from economic slowdown. SMEs, healthcare, hospitality, transportation, telecommunication and oil & gas sectors are witnessing substantial growth in the country. As these sectors require UPS systems for power back up of various equipment and to provide seamless power support, the market for UPS systems is expected to increase in the forecast period.
According to 6Wresearch, Kuwait Uninterruptible Power Supply (UPS) Systems Market revenues are projected to grow at a CAGR of 3.1% during 2018-24. Data centers, healthcare and aviation sectors are few applications where smallest fluctuation during operation would lead to great losses. Growing investment in these segments are anticipated to drive the UPS systems market positively during the forecast period.
According to Ravi Bhandari, Assistant Manager, Research and Consulting, 6Wresearch, "Kuwait government is planning to recover from the economic losses caused due to recent oil crisis by initiating large scale projects in the non-oil sector of the country. Expansion plan of the Kuwait International Airport, raising funds from several international and national banks, strengthening of telecommunication and healthcare sectors of the country are some of the major target areas for the Kuwait government. To achieve efficient output and provide uninterruptable power back up in these key sectors, need for UPS systems is expected to increase over the coming years.
According to Priya Sharma, Research Associate, Research and Consulting, 6Wresearch, "Medium range UPS systems dominate the overall UPS systems market as these systems are readily deployed in manufacturing units, water treatment plants, oil & gas refineries, data centers, banking sector and hospitals. Additionally, UPS systems with power rating below 50 KVA would show highest growth over the coming years on account of growing commercial and industrial activities in the country."
"Under its 5-year development plan, Kuwait City is projected to witness healthy investment in commercial and industrial sectors, which would promote infrastructural activities in the region, leading to generation of more demand for UPS systems over the coming years." Priya further added.
Some of the key players in Kuwait Uninterruptible Power Supply (UPS) Systems Market include- Vertiv Co, Riello UPS Middle East FZ-LLC, Schneider Electric SE, ABB Ltd., Eaton Corporation Plc, Socomec Middle East, TrippLite, AEG Power Solutions, Legrand SNC FZE and General Electric Company.
"Kuwait Uninterruptible Power Supply (UPS) Systems Market (2018-2024)" provides in-depth analysis with 39 figures and 29 tables covered in more than 130 pages. The report estimates and forecast the overall Uninterruptible Power Supply (UPS) Systems Market by revenues, KVA rating, regions and applications such as commercial, industrial and residential. 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.