Industrial UPS Market set for 11% upsurge
According to Technavio, the Global industrial UPS market is set to witness an 11% upsurge in terms of revenue over the period 2014-2019. Key players are trying to increase their market shares through inorganic growth. A number of M&A and strategic alliances are likely to take place in the market during the forecast period, in order for companies to access untapped markets worldwide. Technavio analysts say environmental sustainability is boosting market growth. They add that although lead-acid batteries are increasingly used in UPSS, they prove to be hazardous to the environment if not disposed of properly. The growing concern on environmental sustainability is motivating UPS manufacturers to adopt flywheel technology and eliminate the use of lead-acid batteries. Even though their capital cost is higher compared to traditional UPSS, they have high lifetime value, reducing the need for battery replacement and maintenance. The report states the global industrial UPS market is relatively conservative and at its maturity.