The Europe UPS battery market is expected to grow from US$ 180. 38 million in 2020 to US$ 385. 17 million by 2028; it is estimated to grow at a CAGR of 10. 7% from 2021 to 2028. Li-ion batteries are prominently used for energy storage and power supply.
New York, May 31, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe UPS Battery Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type and Application" - https://www.reportlinker.com/p06075686/?utm_source=GNW
Higher energy efficiency and extended battery life are among the benefits that make these batteries suitable for a wider range of commercial and residential applications. The use of Li-ion batteries in UPS confers better operating parameters, safer chemistries, strong materials, and less stressed user environments. In Europe, Li-ion batteries are extensively used as an economical and energy-efficient battery technology. The continuously surging cost of real estate is positively influencing the adoption of Li-ion batteries in the region. Besides, the growing investments in industrial material-handling operations, especially in Germany, the UK, and the Netherlands, are boosting the adoption of Li-ion batteries in Europe. These batteries are 40–60% lighter than their valve-regulated lead acid (VRLA) counterparts and ~40% smaller, which makes UPS simpler to deploy, along with offering flexibility of installation. Moreover, these batteries ensure long working life, leading to lower requirement of costly replacements, thereby decreasing operating expense (OPEX) and capital expenditure (CAPEX). The consequent shift from lead-acid to Li-ion technology is propelling the market growth in Europe.
Russia, the UK, France, Italy, Spain, and Germany are among the worst-affected European countries by the COVID-19 pandemic.Businesses in the region face are facing severe difficulties as they had to suspend their operations or substantially downsize their activities due to lockdowns, travel bans, and supply chain disruptions.
As a result, many countries in Europe experienced an economic slowdown in 2020, which is likely to continue in 2021.Countries such as Italy, Spain, and Germany have implemented drastic measures and travel restrictions to limit the spread of COVID-19 virus among its citizens.
The pandemic has also slowed down the growth of commercial and industrial sectors as the European battery manufacturers rely on China-based suppliers for the procurement of raw materials. It has also impacted the sales channels, supply chain, manufacturing operations, workforce, and other key aspects of UPS battery manufacturing businesses.
The commercial segment led the Europe UPS battery market based on application in 2020.The commercial applications of UPS batteries include offices, telecommunications, data centers, and other commercial buildings.
The commercial UPS has become linked with IT as the UPS and computer room are brought as a package from construction contractors. Data centers in hospitals, banks, and insurance companies are a few of the areas using typical IT UPS. Advantages of UPS batteries such as less energy consumption, greater reliability, low costs, high tolerance are driving their demand in the commercial sector
The Europe 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 Europe 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 who typically take part in such a 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 Europe UPS battery market. CSB Battery Co., Ltd., Eaton Corporation plc, Exide Industries Limited, FIAMM Energy Technology S.p.A., GS Yuasa International Ltd., leoch International Technology Limited Inc, Schneider Electric SE., and Vertiv Group Corporation are among the major companies operating in the market in this region.
Read the full report: https://www.reportlinker.com/p06075686/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001