The "Vietnam UPS Systems Market | Value, Trends, Size, Revenue, Forecast, Outlook, Growth, Industry, Share, Analysis & Companies | Market Forecast By KVA Ratings, By Phases, By Applications And Co...
Autore: Business Wire
DUBLIN: The "Vietnam UPS Systems Market | Value, Trends, Size, Revenue, Forecast, Outlook, Growth, Industry, Share, Analysis & Companies | Market Forecast By KVA Ratings, By Phases, By Applications And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Vietnam UPS System market size is projected to grow at a CAGR of 6.7% during 2024-2030. Vietnam's UPS system market witnessed remarkable growth from 2020 to 2023, driven by the nation's digital transformation and economic development initiatives.
The country's push towards establishing a $45 billion digital economy by 2025 fueled IT adoption and investments in high-tech hubs like Ho Chi Minh City. This surge in digitalization amplified the demand for reliable UPS solutions across industries to ensure uninterrupted power supply. The data center market emerged as a significant growth engine during this period.
The sector's operational capacity more than doubled, growing from 60 MW in 2018 to around 130 MW in 2023. This expansion was driven by several key factors, including data localization laws, the National Data Center Project (Resolution 175/NQ-CP), and substantial investments from major players like Equinix, FPT Telecom, and NTT, collectively committing over $900 million.
Vietnam UPS System Market Overview
Vietnam's UPS system market is poised for further growth, supported by several upcoming projects and growth drivers. Firstly, the data center market is expected to continue its upward trajectory, with a projected capacity of 250 MW by 2025.
This expansion would be fueled by ongoing investments from industry giants, such as Equinix's $64 million commitment for its third data center in Ho Chi Minh City, FPT Telecom's $350 million investment in a new Hanoi campus, and NTT's $500 million allocation for a Ho Chi Minh City facility. Moreover, Vietnam's rapid urbanization, projected to reach 50% by 2040, necessitates the adoption of smart city infrastructure. This development would create a significant demand for UPS systems to maintain uninterrupted operations in these smart cities.
Major urban development projects, including the construction of smart cities, would drive the need for reliable power backup solutions. Further, the government's thrust on industrial development through projects like the Leyte Ecological Industrial Zone has prompted foreign manufacturers to establish facilities in Vietnam. As industrial processes expand, the demand for UPS solutions to prevent production disruptions will continue to rise, further fueling the market's growth.
Vietnam UPS System Market Share
Market Segmentation by kVA Rating
50.1 - 200 kVA had the highest revenue share in the kVA rating segment in Vietnam's UPS system industry in 2023 owing to strong demand from commercial buildings and mid-sized data centers. Moreover, rating of 50.1 - 200 kVA balances power requirements with cost-effectiveness compared to higher-end options above 200 kVA. Additionally, these systems benefit from lower manufacturing costs compared to units above 200 kVA, driving supplier focus and fueling a 27% revenue share for the segment.
Market Segmentation by Phases
3- UPS systems captured 68.1% revenue share driven by robust demand from commercial/industrial facilities and data centers requiring higher load capacities. Greater energy efficiency and reliability of 3-phase topology justifies the premium pricing over 1-phase counterparts for mission-critical applications.
Market Segmentation by Applications
Commercial projects acquired the highest revenue share in Vietnam's UPS system market in 2023 owing to the rapid expansion of office complexes, retail centers, and hospitality developments across major cities. These commercial endeavors necessitated reliable UPS solutions to safeguard critical operations against power disruptions. Notable projects driving demand included Ho Chi Minh City's iconic Landmark 81 skyscraper, the massive Vincom Mega Mall Royal City retail complex, and the new JW Marriott Hanoi luxury hotel fueling the demand for UPS in the country.
Key Attractiveness of the Report
Key Highlights of the Report
Company Profiles
Market Scope and Segmentation
By kVA Rating
By Phases
By Applications
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Fonte: Business Wire