Posted On: 2018-08-23
Growing investment in the commercial sector with several ambitious government visions such as Saudi Vision 2030, Turkey Vision 2023 as well as South Africa Vision 2030 would drive significant development activities, which would drive the demand for power back up solutions such as UPS in the Middle East and Africa region. Further, an increasing the number of data centers, increasing IT spending, additions of SMEs, hospitals, and several industries such as manufacturing units would ultimately increase the demand for UPS systems in the future to support business continuity in critical service situations.
According to 6Wresearch, the Middle East and Africa (MEA) UPS Market revenues are projected to grow at a CAGR of 4.1% during 2018-24. The demand for uninterruptible power supply systems is expected to rise in critical service infrastructures such as hospitals and medical care facilities, where regular power supply is necessary for the continuous operation of equipment. Growing power demand, industrialization, and stable economic growth are the key factors that would aid the growth of the UPS systems market in the Middle East and Africa regions in the coming years.
According to Ravi Bhandari, Assistant Manager, 6Wresearch, "Middle East region captures the majority of the market share in the MEA UPS systems market. The market in the Middle East region is projected to witness stable growth during 2018-24 on account of increasing infrastructure development in the region owing to upcoming mega-events such as Qatar FIFA World Cup 2022 and UAE World Expo 2020. Furthermore, upcoming projects in the ICT sector in the countries such as Turkey, Saudi Arabia, Iran, and UAE would also boost the demand for UPS systems in the region.
"In the Middle East region countries such as Turkey and Saudi Arabia captured the highest market share in 2017 and would also witness growth during the forecast period on account of upcoming projects in the commercial and industrial sectors such as Istanbul New Airport, the 3-Level Grand Istanbul Tunnel project and the development of Saudi Arabia's social infrastructure under Vision 2030," Ravi further added.
According to Vikrant Tomar, Research Associate, Research and Consulting, 6Wresearch, "The commercial segment holds the largest market revenue share in most of the countries in the Middle East and Africa on account of the widespread usage of UPS systems in offices, hospitals, data centers, and hospitality segments."
"Over the next six years, As the MEA region would continue to strengthen in the hospitality sector, the demand for UPS systems is projected to grow subsequently over coming years. Both Middle East and Africa has launched an initiative "Tourism Vision 2020" in their respective regions, that would further surge the demand for UPS systems in the regions," Vikrant concluded.
Some of the prominent companies in the MEA UPS market include - Schneider Electric SE, Vertiv Co., Eaton Corporation Plc, and ABB Ltd.
"Middle East and Africa UPS Market (2018-2024)" provides an in-depth analysis with 419 figures and 286 tables covered in more than 850 pages. The report estimates and forecast the overall MEA UPS market by revenue, volume, types, 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 devise and align their market strategies according to the current and future market dynamics.