The global Automotive UPS Market size is expected to be valued at US$ 3.27 Billion in 2023. With the continuous growth witnessed in the sales of electric vehicles (EVs) across the globe, the overall scope for Automotive UPS Market is projected to grow at a CAGR of 6.2% between 2023 and 2033, totaling around US$ 5.97 Billion by 2033.
A report from Future Market Insights suggests that the availability of customized options according to consumer requirement, as well as the presence of strict emission norms imposed by governing bodies are the major factors that are anticipated to fuel the growth of the global automotive UPS (in-vehicle UPS) market during the forecast period.
Factors such as the change in the buying preferences of consumers, expansion of the automotive sector, increase in investments, and surging disposable income are expected to boost the growth of the global automotive UPS (in-vehicle) market over the analysis period.
Furthermore, the presence of strict emission norms imposed by governing bodies, in order to reduce pollution from the transportation industry increases the demand for electric vehicles (EV) across the globe, which in turn is expected to escalate the growth of the automotive UPS market in the near future. The consumer preference is rapidly inclining towards passenger and commercial electric vehicle (EV), due to the rising environmental consciousness.
Additionally, availability of customized options according to consumer requirement is one of the major factors that is likely to extend profitable opportunities to the market players during the forecast period. Also, government initiatives as well as subsidies pertaining to EVs, along with increasing awareness regarding the global warming are the factors that are expected to stimulate the market growth in the forthcoming years.
The growing automation process is expected to augment the market demand in automotive industry and other manufacturing industries. All automated systems could benefit from being supported by a UPS solution as it helps avoid costly downtime. In addition, the growing demand for high-end UPS is anticipated to emanate from increasing installations in industrial configurations of high-end electronic equipment and automotive machinery.
The technological advancements in lithium-ion and lead-acid batteries are expected to boost the growth of the automotive UPS market over the analysis period. UPSs built with Li-ion batteries take up just about one-third or less of the space. A smaller footprint means decreased cooling requirements, as well as weight reduction of around two-thirds. This ensures that industries have more flexibility in terms of where the systems are mounted and can also prevent expensive changes to the construction. This factor is expected to fuel the market growth.
Asia-Pacific is expected to be the dominant region for the automotive UPS market during the forecast period, owing to the factors such as presence of robust electronics industry in China, and availability of low-cost products within the region. In addition, the increasing number of automotive companies in developing nations such as India and China. Also, major companies that import automotive UPS are from Japan or China, which in turn is expected to drive the regional market growth.
Europe is expected to witness significant growth during the forecast period, attributed to the rise in manufacturing In-vehicle UPS because of risk of unavailability of proper combination in the region. In addition, regions such as Middle East and Africa and Latin America are expected to hold significant market share with lesser electric vehicle penetration in the regions. North America is estimated to be one of the fast-growing market for Automotive UPS, since it has surging demand for electric vehicles as compared to other countries and regions across the globe.
An In-vehicle Uninterruptible Power Source or especially automotive UPS is an electrical apparatus which is used to provide electric supply to the vehicle when the vehicle battery voltage goes below a predetermined voltage level. Automotive UPS acts as a battery backup by providing powers to your equipment in the car using the car electrical system, but switches to external battery power when the car's battery drops below a predetermined voltage.
It charges the supplementary or additional battery, Automotive UPS is a key component in vehicles since it supports the main vehicle battery while running condition it operates the electrical system of vehicle and when the main battery fails to crank the engine or start the vehicle Automotive UPS provides electrical power continuously to propel the vehicle.
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The development of electric mobility is making great impact on the global automobile industry. electric vehicles are making great progress in global market and this will drive the market of In-vehicle UPS very high, as the number of vehicles sales especially electric vehicles is increasing, demand of Automotive UPS is also increasing, increase in adaption and awareness of Electric mobility, government initiatives are some key factors that are driving the growth of the market of Automotive UPS (in-vehicle UPS).
High cost and fussy network make it complicated system and difficult to install which may impede the growth of Automotive UPS (in-vehicle UPS). However, customized options are available according to consumer requirement which further facilitates the sales of Automotive UPS (in-Vehicle UPS).
Electric vehicles have emission advantage over the conventional internal combustion engine vehicles and it has potential to reuse and develop the renewable sources of energy, the main challenge to propel the vehicle is battery inefficiency for long run.
Hence Automotive UPS supports the main battery by operating electric systems of vehicle as well as it charges the secondary battery of vehicle thus make itself a key component of electric vehicle. Hence, as the market of electric vehicle grows it will create significant opportunities for the growth of Automotive UPS (in-vehicle UPS).
Mid voltage ranged UPS has the most demand among the different categories/voltage range available in Automotive UPS (In-vehicle UPS), as the reason behind it is that the mid-range Automotive UPS operate in the ideal input requirement in which the vehicle requirement occurs as well as it has quite good range of operating condition that it can be fitted into passenger vehicles as well as commercial vehicles. Automotive UPS (in-vehicle UPS) market is estimated to see steady growth in years to come.
Principal Consultant
It is very challenging to select the suitable type of Automotive (In-vehicle UPS) for the required condition since there is variety of options are available in the market. The automotive UPS is proved to be key component for electric vehicles and with the advancement in the technology of electric vehicle the upgradation of the Automotive UPS (In-vehicle UPS) is most likely to occur. However, the availability of customization for in vehicle or automotive UPS will pave the way for higher end user adoption.
The market of automotive UPS (In-vehicle UPS) has larger share in south Asia Pacific where China is a dominant country in production and sales of Automotive UPS. Some of the European OEM’s have started manufacturing In-vehicle UPS owing to risk of unavailability of proper combination.
Major countries import automotive UPS from japan or China owing to robust electronics industry in China and availability of low cost products. Steady growth is anticipated to occur in the regions such as Middle East and Africa and Latin America with lesser electric vehicle penetration in the regions. North America is estimated to be fast growing market for Automotive UPS since it has surging demand for electric vehicles as compared to other countries and regions across the globe.
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Some of the key players in Automotive UPS (In-vehicle UPS) market across the value chain are as below:
The research report on the Automotive UPS (In-vehicle UPS) market presents a comprehensive assessment, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
The Automotive UPS (In-vehicle UPS) market report also contains projections using a suitable set of assumptions and methodologies. The report provides analysis and information according to market segments such as Fleet, Product services, Geography and Equipment
The market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The Automotive UPS(In-vehicle UPS) market report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global Automotive Ups (In-vehicle UPS) can be segmented on the basis of Power Supply, Input power range, Vehicle type and Ampere rating.
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