Significant growth across construction sector on account of rising demand for commercial office space, new hotel and BFSI infrastructures are anticipated to drive the growth of UPS in Myanmar over the coming years. Additionally, growing number of industries and development of Special Economic Zones across the country would further fuel the demand for UPS in the country.
According to 6Wresearch, Myanmar UPS Market is projected to grow at a CAGR of 7.3% during 2019-25. Upcoming initiatives such as Myanmar Tourism Master Plan (2013 -2020) and ASEAN Tourism Strategic Plan (2016-2025) is expected to fuel the development across the hospitality sector in the region and would pave way for the growth of UPS across the above-mentioned application over the coming years. Further, rising digitization and increasing FDI in the hospitality sector across Myanmar 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 sector emerged as the major revenue generating segment and would maintain its dominance during the forecast period as well on account of surging deployment of UPS across the commercial spaces such as offices, data centers and hotels.
In addition, rising internet penetration and rapid growth of telecommunication industry owing to increasing government spending across the Information and Communication Technologies (ICT) sector would further lead to increased demand for UPS across the country. Additionally, upcoming projects such as, New Yangon City Project, Mandalay city development project, Pathein Industrial city, Kantharyar Serviced Residences and Sedona Suites, 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 Myanmar UPS market during 2018, succeeded by the 1.1-10 kVA rating UPS. The demand for these aforementioned UPS segments would increase on account of increasing supply of commercial office spaces, growing hospitality sector and strengthening telecom infrastructure in the country," Prashant further added.
According to Devesh Kumar, Research Associate, 6Wresearch "The government of Myanmar is planning to invest heavily under the Yangon urban development master plan comprising of 42 projects worth $2.6 billion, with 25 projects under the urban development management sector ($855 million) and 17 projects under the infrastructural development sector ($1.8 billion). Further, the government is planning to invest under the central business district renovation projects, smart & eco city projects and development of several industrial zones across the country. The aforementioned factors are expected to play a major role in the growth of UPS market across the country during the forecast period."
"The Southern region of Myanmar dominated the UPS market revenues in 2018 on account of heavy infrastructural development and rising hospitality sector across the region. Further, upcoming projects such as Mandalay, Pathein & Mawlamyine and Pathein Industrial City are expected to significantly boost industrial activities in the Southern and Northern regions, thus, paving way for the growth for UPS market," Devesh further added.
Some of the prominent players in Myanmar UPSs market include - Schneider Electric, General Electric, Vertiv Co., Socomec, Eaton, and ABB Ltd.
"Myanmar UPS Market (2019-2025)" report provides an in-depth analysis with 43 figures and 16 tables covered in more than 100 pages. The report estimates and forecast the overall Myanmar 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.