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Critical Power Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
| A09025 | Pages: NA | Dec 2020 | 16 Views | | |
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COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Critical Power Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Request Now !Critical power is that derivative of electric energy, which is constantly required without any interruption. Critical power is required at places where the constant supply of electricity is needed. It is used in applications that need to be kept operational at all times. These applications include critical monitoring systems for patients at hospitals, data storage, and electricity grid. Critical power supply is required at the industrial sites where constant manufacturing is operational. Critical power aids in maintaining the networks such as communication networks. It ensures the smooth and constant flow of data.
Market scope and structure analysis:
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast units | Value (USD) |
Segments covered | Application and Region |
Regions covered | North America (U.S. and Canada), Europe (Germany, UK, France, Russia, Italy, and the Rest of Europe), Asia- Pacific (China, Japan, India, and the Rest of Asia Pacific), Latin America (Brazil, Mexico, and the Rest of LATAM), and Middle East and Africa |
Companies covered | General Electric Company, Schneider Electric SE, ABB Limited, Broadcom Ltd, Eaton Corporation Plc., WEG, Anord Critical Power Inc., Doble Engineering Company, Canara Inc., Brio Energy Pvt. Ltd. |
COVID-19 scenario:
Governments across the world are enforcing stringent lockdowns to comply with the need of the hour that is to fight this novel corona virus. The sudden outbreak of this disease has affected mass of population over a very short period of time. Though many industries have faced the brunt of this disease, the critical power sector has seen an increase in demand owing to the need of constant uninterrupted supply of electricity in the hospitals to keep the critical monitoring systems functional.
Market dynamics:
Critical power finds application in various sectors. The demand for critical power is expected to rise owing to the investments taking place in the data center sector. A huge amount of data is produced on day to day basis and this data needs to be kept safely to ensure data safety. In addition, the supply of the data is required on a constant basis in order for the system to work smoothly and not incur any loss due to non-functionality. To store such huge amount of data, more and more data centers are being opened. TO facilitate these data center, a constant supply of critical power is required in order for them to function smoothly. This need of critical power at data centers is expected to drive the critical power market over the coming years. Wireless charging and LED drivers segment is the major shareholder. This segment is expected to witness a substantial growth over the coming years. Wireless charging systems provide electric energy at any given point of time at any place. Wireless charging systems are also a convenient form of critical power storage systems. Smart inverters are expected to provide the critical power market with opportunities to grow. LED drivers are used to maintain power supply to the LED. Critical power allows the LEDs to be in a functional state. These factors are expected to drive the demand for critical power during the forecast period.
On the contrary, plummeting mining activities and declines in the oil and gas prices are expected to hinder the market growth of critical power market.
The critical power market has become competitive due to the presence of many market players offering the same kind of products. The recent strategy adopted by the manufacturers to get an edge over the others and to expand their product portfolio is to provide integrated critical power supply systems. Integrated systems offer the consumers with advanced features and easy handling of the system. These advancements are expected to contribute to the growth of the critical power market.
Regional analysis:
Asia-Pacific is expected to witness a significant growth in the critical power market. This is due to the rapidly growing population and heavy industrialization.
Due to the current pandemic, a huge mass of population all across the world has been infected by the disease. This has led to a significant increase in the demand for critical monitoring systems which require critical power to function. These factors have been anticipated to drive the market demand for critical power in the region.
Key segments covered:
Segments | Subsegments |
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Key benefits of the report:
- This study presents the analytical depiction of the global critical power industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global critical power market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global critical power market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global critical power market analysis depending on competitive intensity and how the competition will take shape in coming years.
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