UPS systems are witnessing mounting adoption by different end-user applications ranging from residential households, small commercial offices to large industrial enterprises. Moreover, factors such as inflow of FDI in industrial and manufacturing segments, growing power demand and increasing infrastructure projects in Vietnam have further fueled the demand for UPS systems in the country.
According to 6Wresearch, Vietnam UPS Systems Market Revenues are projected to grow at a CAGR of 4.7% during 2018-24. Increasing number of data centers, increasing IT spending, addition in number of SMEs, hospitals and several industries such as manufacturing units would result in surge in demand for UPS systems in Vietnam over the coming years.
According to Shefali Goel, Assistant Manager, Research and Consulting, 6Wresearch, "Within KVA ratings, in 2017, 20.1-50 kVA stood as the leading revenue generating segment on the back of its high adoption in data centers. Medium rating UPS systems find application in both the commercial and industrial sectors and are expected to dominate during the forecast period as well. Packs of medium voltage UPS systems are used instead of a single unit of high rating UPS systems.
Additionally, the 20.1-50 KVA rating and 50.1-200 KVA rating segments are projected to rise at a significant CAGR in terms of revenue during the forecast period," Shefali Concluded.
According to Gurbani Kaur, Research Associate, Research and Consulting, 6Wresearch, " In 2017, the Southern region accounted for the maximum share of revenue in the overall Vietnam UPS systems market. However, over the next few years, as the Southern region would continue to strengthen its hospitality sector, which would drive the demand for UPS.
"Further, government plans to build Ho Chi Minh city into a smart city by 2020 would involve the development of several commercial domains such as ICT and smart urban transportation system, thereby surging the demand for UPS systems in the region," Gurbani concluded.
Some of the key players in Vietnam UPS Systems market include- Eaton Corporation Plc, Schneider Electric SE, Vertiv Co, General Electric Company, Delta Electronics Inc., ABB Limited (Vietnam), Tripp Lite, RIELLO UPS SINGAPORE Pte Ltd. and Socomec Asia Pacific Pte. Ltd.
"Vietnam UPS Systems Market (2018-2024)" provides an in-depth analysis with 50 figures and 22 tables covered in more than 126 pages. The report estimates and forecast the overall Vietnam UPS Systems market by revenues, volume, KVA ratings, 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."