The global UPS market will reach $9.84bn by 2015, according to a report by analysts TechNavio.
TechNavio's report, ‘Global Uninterruptible Power Supply Market’, sees the key vendors dominating the UPS market space as Schneider Electric, Emerson Electric, and Eaton. The other vendors mentioned in the report are Riello, Toshiba, Swelect Energy Systems, Mitsubishi Electric, GE and TDK.
An analyst from TechNavio's Engineering team said: ''The use of next-generation power storage technologies is one of the emerging trends in the UPS market. Such next-generation power storage technologies aid the environment-related efforts of companies.
“Thus, instead of using electricity, many greener methods such as solar and wind energy might be used to charge the batteries in UPS systems. Also, next-generation technology helps to discharge the energy back to the grid when battery power is not in use.''
One of the key factors contributing to this market growth is population growth. However, the increasing cost of raw materials could pose a challenge to the growth of this market, the report says.