Critical Power Systems Market Scope
Critical power system is energy management system which detect outage, start back-up generators. It provides continue power to critical equipment’s and locations where uninterruptible power supply is necessary for continuous functioning. It is widely used at data centers which requires 247 TWh per year of electricity. This power system is known for providing most reliable and efficient power systems for workplaces and different locations. This critical facility deliver safe, reliable and efficient power solutions for individual or complete integrated systems. Rising demand for continuous power supply at different locations has created demand for critical power system. Geographically, growing industrial expenditure in Asia Pacific region is expected to grow with high market share followed by North America and Europe.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | General Electric Company (United States), IEMPS (United States), Schneider Electric SE (France), ABB Limited (Switzerland), Vertiv Group Corp. (United States), Broadcom Ltd (United States), Static Power (United States), Eaton Corporation Plc. (United Kingdom), Anord Critical Power Inc. (United States), Doble Engineering Company (United States), AEG Power Solution (United States), Concentric Onpoint Company (United States) and Brio Energy Pvt. Ltd. (India) |
CAGR | 5.5% |
The market of Critical Power System is expected to grow with rising demand from number of end use industries. Numerous companies are operating in the market to provide Critical Power System for various locations. The market is highly fragmented with the presence of several market players. They are gaining attention owing to their innovative and novel portfolio. In addition, market profitability is attracting new entrant which is turn impacted on competitive rivalry.
General Electric Company (United States), IEMPS (United States), Schneider Electric SE (France), ABB Limited (Switzerland), Vertiv Group Corp. (United States), Broadcom Ltd (United States), Static Power (United States), Eaton Corporation Plc. (United Kingdom), Anord Critical Power Inc. (United States), Doble Engineering Company (United States), AEG Power Solution (United States), Concentric Onpoint Company (United States) and Brio Energy Pvt. Ltd. (India) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Critical Power Systems market by Type and Region with country level break-up.
On the basis of geography, the market of Critical Power Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In September 2023, Concentric, LLC, the first national industrial power services organization delivering forklift and critical power as well as maintenance solutions that ensure uninterrupted, sustainable facility power, announced today the acquisition of Retech. An established market leader across the US, with headquarters on the west coast, Retech specializes in designing, integrating, and managing critical DC power systems and critical infrastructure construction with a particular focus on the telecom and cable industry
In January , 2024 – Starline, a brand of Legrand, has unveiled Starline's third generation of Critical Power Monitor products, the M70 CPM. Initially introduced in 2014, the Starline CPM has been the preferred method of data center busway power monitoring for major data center providers globally.
Influencing Trend:
Augmenting Demand at Data Centers & Hospital Emergencies
Market Growth Drivers:
Rising Preference for Critical Power System in Number of End Use Industries and Growing Adoptions for Systems offering Uninterruptible Power Supply
Challenges:
Slowing Down in Electrical Industrial Manufacturing owing to Slow down during Pandemic
Restraints:
High Manufacturing Cost
Opportunities:
Rising Demand for Critical Power System in Food Manufacturing & Transportation Industry
Key Target Audience
Critical Power System Manufacturers, Critical Power System Providers, Raw Material Suppliers, Regulatory Authorities, New Entrants/Investors, Strategic Business Planners, Governments and End Use Industry