Europe UPS Battery Market is expected to reach US$ 385.17 million by 2028

Commercial Segment to Dominate Europe UPS Battery Market during 2020–2028

According to The Insight Partners market research study on “Europe UPS Battery Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type and Application” is expected to reach US$ 385.17 million by 2028 from US$ 180.38 million in 2020. The market is estimated to grow at a CAGR of 10.7 % from 2021 to 2028. The report provides trends prevailing in the Europe UPS battery market along with the drivers and restraints pertaining to the market growth. Escalating advantages of UPS Battery in data center and increasing emphasis of Li-ion battery are the major factor driving the growth of the Europe UPS battery market. However, problem associated with UPS batteries failure hinder the growth of Europe UPS battery market.

In case of COVID-19, Russia, UK, France, Italy, Spain, and Germany are some of the worst affected member states in the European region. Businesses in the region face severe economic difficulties as they had to suspend their operations or substantially reduce their activities. Due to business lockdowns, travel bans, and supply chain disruptions, the region experienced an economic slowdown in 2020 and, most likely, in 2021. The member states of Europe, such as Italy, Spain, and Germany, have implemented drastic measures and travel restrictions to limit the spread of coronavirus among its citizens. European countries represent a major market for UPS battery adoption due to the rising cloud services. Governments and businesses in the region have taken actions to limit the spread of COVID-19, such as quarantines, restrictions on travel, and restrictions that prohibit employees from going to work. The pandemic has impacted UPS battery provider’s sales channels, supply chain, manufacturing operations, workforce, and other key aspects. Due to COVID-19, the commercial and industrial sectors also witnessed a slowdown as the European battery manufacturers rely on China-based suppliers for providing raw material. Also, other related components that has seen a sharp decline in European countries is expected to be under stress till mid-2021 and it will require time to stabilize. All these factors are expected to have a direct impact on UPS battery market growth in European countries.

The Europe UPS battery market is segmented into the product type, application, and country. Based on product type, the Europe UPS battery market is segmented into lead-acid, lithium-ion, and other. The lead acid segment held the largest Europe UPS battery market share in 2020 and lithium-ion battery is expected to be fastest growing during forecast period. Based on application, the Europe UPS battery market is segmented into commercial, residential, and other. The commercial segment dominated the Europe UPS battery market in 2020 and residential segment is expected to be fastest growing during forecast period.

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 leading companies in the Europe UPS battery market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Exide Industries Limited and Leclanché SA had a joint venture to build lithium-ion batteries and energy storage solutions to power the growth of India's electric vehicle market and grid-based applications.     

The report segments the Europe UPS Battery Market as follows:

Europe UPS Battery Market – By Product Type

• Lead-acid
• Lithium-ion
• Other

Europe UPS Battery Market – By Application

• Commercial
• Residential
• Other

Europe UPS Battery Market – By Country

• Germany
• France
• Italy 
• UK
• Russia
• Rest of Europe