Companies compete for market share
Fuelled by demand from diverse sectors seeking IT and IT enabled services, the Indian UPS Market is expected to grow with at a CAGR of over 8% during 2018-2025, said a ResearchAndMarkets report on 10 Apr 2019.
Growing demand from diverse sectors such as IT and IT enabled services (ITeS), banking, financial services and insurance (BFSI), government, manufacturing, telecom, and energy sectors continues to drive the UPS market in India, said the report.
The report noted competitive dynamics in the industry, pointing out that companies are following different strategies to strengthen their market position.
Leading drivers remain the Government’s initiative to computerize its various departments coupled with ‘The National e-Governance Plan’ is expected to boost the demand for low-end UPS systems through 2025.
Increasing demand for high-end UPS is expected to emanate from growing installations of high-end electronic equipment and machineries in industrial set-ups.
Increasing penetration of IT/ITES sector in Tier-II & Tier III cities of the country is also anticipated to boost the demand for UPS systems in the coming years.
Growing need for continuous and smooth power supply in various end-use sectors including residential, commercial and industrial, provides a huge growth opportunity for UPS manufacturers in India.
Particularly, growing demand from IT/ITeS, BFSI, government sector, manufacturing, telecom, and energy sectors are expected to drive UPS market in India in the coming years.
However, regardless of various government efforts towards increasing power generation over the last decade, there is still a huge mismatch between power supply and demand, said the report.
Poor power infrastructure and high transmission losses are anticipated to drive demand for UPS systems in India over the forecast period.
The India UPS Market is dominated by a number of players, amongst them, the major players are Consul Neowatt Power Solutions Pvt Ltd, Delta Power Solutions (India) Pvt Ltd, Eaton Power Quality Pvt Ltd, Emerson Network Power (India) Pvt Ltd, Hitachi HI-REL Power Electronics Pvt Ltd, Microtek International Pvt Ltd, Novateur Electrical & Digital Systems Pvt Ltd, Schneider Electric IT Business India Pvt Ltd, Socomec Innovative Power Solutions, Uniline Energy Systems Pvt Ltd. Fiinews.com
