Global Market Research Company US India UPS Market Forecast and Opportunities, 2022_ | Page 13

Industry Brief
India UPS Market to Cross Billion Dollar Mark by 2022
According to TechSci Research report “India UPS Market By Type, By Application, By Rating,
Competition Forecast & Opportunities,2012 – 2022”, the country’s UPS market is projected to surpass
$ 1 billion by 2022, on account of growing usage of UPS systems as a power backup source for the
smooth functioning of enterprises in IT/ITES, BFSI and other sectors. In 2016, Schneider Electric and
Numeric Power Systems Limited accounted for more than 30% share in India UPS market, and both of
these players are expected to maintain their market dominance during the forecast period a s well.
High product quality, strong distribution channel and better after sales services are expected to further
strengthen the market position of these companies over the course of next five years.
Increasing penetration of UPS systems in non-metro cities due to growing industrial and commercial
infrastructure in Tier II and Tier III cities, expanding commercial sector and availability of customized
power solutions are some of the other factors anticipated to spur growth in India UPS market in the
coming years. Southern and western regions are the major demand generating regions in the country’s
UPS market, primarily owing to the presence of a large number of industries, manufacturing plants,
and IT/ITES and BFSI companies in these regions. Owing to the ease of availability, low cost and wide
usage across various sectors, less than 5 kVA UPS segment accounted for the largest share in India UPS
market in 2016.
“By 2022, installed solar capacity in India is expected to reach 100,000 MW. The anticipated increase in
solar capacity coupled with government initiatives such as Make in India and Digital India are expected
to boost demand for UPS systems in India over the next five years. Moreover, huge investments and
developments in IT/ITES, BFSI, education, healthcare, retail and residential sectors would have a
positive impact on the country’s UPS market during the forecast period”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management consulting firm.
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TechSci Research