Posted On: 2018-12-31
Growing construction market due to rising demand for commercial office spaces, rapidly expanding BPO sector, surging demand for the hospitality infrastructure as well as growing ICT sector were the key drivers for the growth of UPS systems market in Philippines over the past few years. Additionally, growing number of data centers, SMEs and other commercial segments in the country would further drive the growth of UPS systems over the coming years.
According to 6Wresearch, Philippines UPS Systems Market Revenues are Projected to Grow at a CAGR of 6.1% during 2018-24. Growing hospitality sector infrastructure under National Tourism Development Plan 2016-22, overhauling of aging infrastructure to boost the country's competitiveness on global front and growing manufacturing activities with increasing domestic consumption would be the key factors behind the growth of the UPS systems market in Philippines.
According to Ravi Bhandari, Research Manager, 6Wresearch, "By applications, commercial sector is generating major revenues for the Philippines UPS systems market and is likely to maintain its dominance throughout the forecast period on account of major demand from data centers, BFSI and healthcare sectors. The increasing ICT demand from SMEs and continued strong performance of the business process outsourcing (BPO) industry would also push ICT spending over the coming years which in turn would support the UPS systems demand. Upcoming hotel projects such as Hilton Manila, Seda Lio, Dusit Thani Mactan Cebu and One Central Hotel would further drive the demand for UPS systems in commercial sector".
"Above 200 KVA ratings of UPS systems contributes the highest market revenue share for the Philippines UPS systems market followed by the 50.1-200 KVA rating UPS systems. The demand for these KVA ratings would strengthen with government efforts to develop IT and telecom infrastructure thereby spurring the growth of UPS systems market," Ravi further added.
According to Vikrant Tomar, Research Associate, 6Wresearch "Philippines government has committed up to $180 billion investment until 2022 in 75 projects primarily in railways, roads & bridges, airports, new city development and mass transit systems. The program labelled "Build, Build, Build" aims at supporting economic growth and solve major infrastructure hurdle are expected to create the demand for the UPS systems during the forecast period."
"The Luzon region of Philippines dominates the regional UPS systems market as Luzon is one of the geographically and infrastructurally developed regions in Philippines. Infrastructure projects such as the expansion of the Clark Airport, Subic-Clark cargo railway and the North Luzon Expressway - South Luzon Expressway (NLEX-SLEX) connector road are expected to impact industrial activities in the Northern and Central Luzon, which would also drive the growth of UPS systems market in the region," Vikrant concluded.
Some of the prominent companies in Philippines UPS systems Market include - Schneider Electric, Eaton, Vertiv Co., Socomec, Delta Energy Systems, and ABB Ltd.
"Philippines UPS Systems Market (2018-2024)" provides in-depth analysis with 38 figures and 18 tables covered in more than 115 pages. The report estimates and forecast the overall Philippines UPS Systems Market by kVA rating, 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.