The MEA UPS battery market is expected to grow from US$ 73.11 million in 2020 to US$ 166.91 million by 2028; it is estimated to grow at a CAGR of 11.6% from 2021 to 2028. The UPS industry in developing countries across the MEA is likely to grow slowly but steadily in the coming years. Frequent power shortage issues faced by countries in this region are contributing to the UPS battery market growth. Despite several government policies being in effect, emerging economies haven’t yet managed to meet the target of becoming electricity-surplus nations; thus, UPS systems is an inevitable need in these countries. Presently, offices, business, and institutions are IT-driven, and they cannot operate without mobile phones and computers. Moreover, rising disposable incomes of households in developing countries of the MEA region are boosting the sales of electrical equipment such as refrigerators, ACs, televisions, and microwaves, and inadequate power supply will propel consumers to opt for UPS systems. Thus, persistence of power shortage issues; growth of IT, banking, and small and medium enterprise; and rise in disposable income of consumers are bolstering the adoption of UPS applications in residential and commercial sectors, thereby driving the UPS batteries market. Further, the UPS manufacturers are investing in research & development (R&D) activities to introduce smaller UPS systems, to expand their presence in the small and medium enterprises segment, which would further fuel the MEA UPS battery market growth in the coming years. Turkey, Iran, and South Africa are among the majorly affected countries by the COVID-19 pandemic in the MEA.The pandemic has also affected Iraq, Israel, Morocco, Saudi Arabia, and the UAE to a certain extent.
The operations of MEA UPS battery market players are majorly affected by the disruption in supply chain due to the shutdown of borders of countries.Moreover, the demand for UPS batteries for power back-up decreased in various sectors during the lockdown periods.
The COVID-19 pandemic has significant effects on global economies, but the region is already impacted as there is pressure on economy of various oil-based countries due to falling oil prices.In addition, business shutdown and travel ban further aggravated the economic problems of the countries in the MEA.
Hence, the degradation of economic conditions and industrial activities in the MEA countries is continue to limit the UPS battery market growth in the first half of 2021 as well.
The residential segment, based on application, is expected to be fastest growing during forecast period for MEA region. Companies such as Exide Industries Ltd. provides broad array of home UPS systems in the MEA to keep electronic appliances such as air conditioners, fans, and lights safer, by allowing them to function smoothly in case of power failures. All the Exide Home UPS system are developed for domestic use and are 100% reliable. Advantages of UPS systems such as reliability, low costs, no power interruptions, smooth functioning are escalating their demand in the residential sector, thereby driving the MEA UPS battery market growth in this sector.
The MEA UPS battery market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the MEA UPS battery market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants to validate the data, as well as to gain more analytical insights into the topic.
The participants involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the MEA UPS battery market. Eaton Corporation plc, Exide Industries Limited, FIAMM Energy Technology S.p.A., leoch International Technology Limited Inc, Schneider Electric SE, and Vertiv Group Corporation are among the major players operating in the market in this region.
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