Market Introduction
The US, Canada, and Mexico are the economies present in North America. A major part of the region is perceived to be highly developed in terms of adoption of modern technologies, high standard of living, developments in infrastructure, and so on. Technological advancements make this region a highly competitive marketplace for different businesses. With the rising customer demand for high-quality services and products, companies are constantly focusing on innovations to serve their customers in the best possible way. Technological advancements, coupled with high disposable incomes of individuals, have resulted in the proliferation of the information technology (IT) industry in the region; the density of IT datacenters in the region is quite high. UPS systems and their batteries such as lithium-ion batteries provide extended battery lives and confer higher energy efficiencies to the electronics devices, which helps address the high energy demands. Hence, numerous UPS manufacturers in North America are integrating lithium-ion UPS batteries. Growing emphasis of li-Ion battery and rising advantages of UPS battery in data center are the major factor driving the growth of the North America UPS battery market.
Furthermore, in case of COVID-19, North America is highly affected specially the US. North America is one of the most important regions for the adoption and growth of new technologies due to favorable government policies to boost innovation, presence of huge industrial base, and high purchasing power especially in developed countries such as the US and Canada. Hence, any impact on the growth of industries is expected to affect the economic growth of the region in a negative manner. The US is a home to a large number of manufacturing and technology companies and thus the impact of coronavirus outbreak is anticipated to be highest on country’s economy. The ongoing crisis and situation in the US are going to impact the UPS battery market growth in a negative manner, with US being one of the important markets for UPS battery growth. Due to disruptions to IT operations in the data centers during global pandemic and strict travel restrictions, IT field engineers faced challenges such as being denied access to critical facilities. The disruption in data centers impacted negatively on UPS battery market growth since UPS batteries have hugely adopted in data centers across the world. Hence, the ongoing COVID-19 crisis and critical situation in the US is going to impact the UPS battery market growth of North America in a negative manner for the next few quarters.
Market Overview and Dynamics
The North America UPS battery market is expected to grow from US$ 150.64 million in 2020 to US$ 346.06 million by 2028; it is estimated to grow at a CAGR of 11.7 % from 2021 to 2028. Growing UPS applications will drive the North America UPS battery market. The North America UPS battery market is indisputably growing with advanced technologies and methodologies being integrated and implemented. Thus, deployment of UPS systems is inevitable. Mexico, for instance, is implementing various policies to introduce UPS systems for strong power back-up solutions. Due to such initiatives, there is an increase in demand for power, which contributes considerably to the growth of the UPS industry in North America. Presently, offices, business, and institutions are IT-driven. No one can work without mobile phones and computers since these devices have become a part of daily lives; thus, the UPS systems too have become a part it. Owing to rising disposable incomes of households, the sales of electrical equipment such as refrigerators, ACs, televisions, and microwaves is anticipated to surge, and inadequate power supply will propel consumers to opt for UPS systems. Power shortage; growth of IT, banking, and small and medium enterprise; and rise in income levels of consumers are surging UPS applications in residential and commercial sectors of North American economies. For the overall development of the UPS industry and for the regional players to increase the profitability, it has become vital for the businesses to invest in research & development (R&D) activities.
Key Market Segments
In terms of product type, the lead-acid segment accounted for the largest share of North America UPS battery market in 2020. In terms of application, the commercial segment held a larger market share of the North America UPS battery market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America UPS battery market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are CSB Battery Co., Ltd., East Penn Manufacturing Company, Eaton Corporation plc, Exide Industries Limited, FIAMM Energy Technology S.p.A., GS Yuasa International Ltd., leoch International Technology Limited Inc, NorthStar Group Services, Inc., Schneider Electric SE, and Vertiv Group Corporation.
Reasons to buy report
North America UPS Battery Market Segmentation
North America UPS Battery Market - By Product Type
North America UPS Battery Market - By Application
North America UPS Battery Market - By Country
North America UPS Battery Market - Company Profiles