Global Critical Power Market Report and Forecast 2024-2032

Global Critical Power Market Outlook

The global critical power market size reached approximately USD 28.47 billion in 2023. The market is projected to grow at a CAGR of 8.9% between 2024 and 2032, reaching a value of around USD 61.72 billion by 2032.

Key Trends in the Market

Critical power refers to the supply of a certain amount of electrical power essential for the operation of crucial systems and equipment within an organisation or facility. These systems are vital for maintaining essential functions during power outages, ensuring the safety of personnel, protecting valuable data, and preventing significant financial losses.

• One of the primary factors influencing the global critical power market growth is the developing cloud and data centre infrastructure. Cloud computing technologies and data centres are required by businesses to operate reliably and maintain uptime without interruption. This creates a necessity for a constant power supply to enable the data centres to perform adequately. Moreover, the demand for increasing the performance of data centres is likely to further propel the growth of the market.

• Rapid industrialisation, particularly in emerging economies, is a significant global critical power market trend. Industrial facilities require constant power supply and reliable backup solutions to avoid production halts and major losses in profit during power interruptions. Additionally, urbanisation leads to higher population densities and increased strain on existing power infrastructure, necessitating robust critical power solutions.

• The increasing demand for lithium-ion batteries as a preferred choice for backup power solutions in critical applications is expanding the critical power market demand. These batteries offer several advantages over traditional lead-acid batteries, including higher energy density, longer lifespan, faster charging times, and smaller physical footprint.

Market Analysis

Based on type, the market can be segmented into uninterrupted power supply (UPS) and generators, among others. The global critical power market segmentation, based on end-use, includes commercial, IT and telecommunication, industrial, transportation, and government and defence, among others. The major regional markets for critical power are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global critical power market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Schneider Electric SE 

• ABB Limited

• Eaton Corporation plc 

• General Electric Company

• Kehua Data Co., Ltd. 

• WEG S.A. 

• Vertiv Group Corp. 

• Delta Electronics Inc. 

• Socomec Group

• Others

Market Share by Type

According to the global critical power market, generators are expected to be in high demand in the coming years owing to the rapid commercialisation and urbanisation of various regions. Commercial buildings require an uninterrupted power supply to ensure the proper functioning of facilities and avoid any power failure strike. In addition, unstable regional grids are likely to promote the importance of critical power systems. Advanced generators can allow the automatic transfer of power to crucial circuits in order to aid various business operations.

Market Share by Region

The Asia Pacific is expected to contribute significantly to the global critical power market share in the foreseeable future. This development can be attributed to various factors, such as economic development, the rapidly expanding IT and telecommunication sector, and the inadequate energy infrastructure.

Countries like China, India, Japan, South Korea, and several Southeast Asian nations have witnessed rapid industrialisation and urbanisation. As a result, there is a substantial demand for reliable power to support various sectors, including manufacturing, IT, telecommunications, and healthcare.

Competitive Landscape

Schneider Electric SE is one of the world’s major automation machinery manufacturing companies in the world. Headquartered in Paris, France, and founded in 1836, the company provides various IT and energy-related services for to enable digital transformation. It also holds expertise in providing infrastructure and solutions for data centres, including power distribution, cooling, and management systems.

ABB Limited is a pioneer in the field of technology. The company ABB came into existence with the merger of ASEA and BBC. It is a global leader in providing automation and control systems for various industries. This includes solutions for process automation, discrete automation, and robotics. ABB's robotics division is well-known for its industrial robots used in manufacturing and production lines.

Eaton Corporation plc is an Ireland-based appliances, electrical, and electronics manufacturing company. The company is also known as Eaton and places significant emphasis on providing electrical power distribution and control solutions. Eaton manufactures a wide range of electrical components, including circuit breakers, switches, and power distribution systems.

Other global critical power market players include General Electric Company, Kehua Data Co., Ltd., WEG S.A., Vertiv Group Corp., Delta Electronics Inc., and Socomec Group., among others.

Key Highlights of the Report