Growing commercial sector, along with establishment of regional head offices and data centers in Singapore due to the strategic advantage of its geographical location has led to significant increase in demand for UPS systems in the country. Further, growth in the data center market along with government initiatives to promote business tourism and BFSI sector in the country would increase the need for UPS systems over the coming years as well.
According to 6Wresearch, Singapore Uninterruptible Power Supply (UPS) Systems Market Revenues are projected to grow at a CAGR of 5.5% during 2018-24. Upcoming data center projects such as the ones by Facebook and Google as well as hospitality projects such as Waldorf Astoria and Village Santosa would increase the demand for UPS Systems in the country. Moreover, government initiatives such as Industry Transformation Maps and MICE 2020 would further increase the demand for Uninterruptible Power Supply (UPS) Systems in the business tourism sector in Singapore.
According to Shefali Goel, Assistant Manager, Research and Consulting, 6Wresearch, "Commercial application was the key revenue contributing segment in the UPS Systems market in 2017 on account of high utilization of UPS systems in critical domains including data centers, banking & financial sector and commercial offices across the country."
"Other major consumer for UPS systems is the industrial application, whose market is expected to grow over the coming years due to increasing foreign investment in the country," Shefali further added.
According to Akash Sharma, Research Associate, Research and Consulting, 6Wresearch, "By kVA rating, the 50.1kVA-200kVA segment captured the highest revenue share in the overall Singapore UPS systems market in 2017 and is projected to maintain its dominance during the forecast period on account of widespread consumption of high rating UPS systems in data centers, hospitals and heavy industries. Additionally, the 20.1 kVA-50 kVA power rating segment captured the second highest market revenue share in the overall market in 2017."
"With the Singapore government committed to strengthen certain key areas in the country such as aerospace and precision engineering, the demand for 50.1kVA-200kVA rated UPS systems in the commercial application would grow in near future," Akash further added.
Some of the key players in the Singapore Uninterrupted Power Supply (UPS) Systems market include Eaton, Schneider (APC), Fuji, Vertiv, General Electric, Delta, Riello and Socomec.
"Singapore Uninterruptible Power Supply (UPS) Systems Market (2018-2024)" provides an in-depth analysis with 38 figures and 19 tables covered in more than 109 pages. The report estimates and forecast the overall Singapore UPS Systems market by revenues, volume, kVA ratings and applications. 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.