Technology analyst firm Omdia has released its annual "UPS Hardware Market Tracker 2021" report recently. Chinese UPS manufacturer Kstar ranked fifth in the global UPS market, moving one place up from last year. The ranking is based on overall shipments in 2020. The report also highlights the global UPS revenue drop 6.4% in 2020 due to COVID-19.
The report, published in late 2021, stated that Kstar had a 4% share of the global UPS market. In terms of the single-phase UPS and three-phase UPS supplier ranking, Kstar gained a position of six and five separately. Schneider Electric, Eaton, and Vertiv continue to lead the global UPS hardware market.
"We are proud to see our high-quality products and customer-focused approach being well received and reflected in these promising figures. Kstar is constantly striving to listen to consumers' changing needs and adapt to them, while simultaneously harnessing cutting-edge technology to stand out in the market," said Kevin Shen, Kstar marketing director.
In response to the challenge of new-normal, Kstar has focused on R&D and continuous innovations to improve its competitive advantages. Last year, Kstar launched a new generation of UPS products with smaller sizes and shorter lead times in international markets to reduce costs for customers and increase productivity.
In addition, Kstar developed its own UPS monitoring system to better adapt to the boom in working remotely. With the advanced monitoring tools, customers can have critical insights on the battery charge, UPS performance and get alerts on critical.
According to the report, the UPS market reached a total of over 8.1 billion dollars in 2020, down from $8.6bn in 2019. However, the demand for UPS systems is forecasted to remain strong in the aftermath of the pandemic. It is predicted that the UPS market will reach $9.1bn in 2021, a 12.6% increase from 2020 as the global economy began to recover.
To meet the surging demand, the company has built a new factory in Vietnam to boost production capacity. Covers an area of 47,715 square meters, the factory, which is being developed with an overall investment of US$22 million, is expected to facilitate more competitive products for customers and speed Kstar's global expansion.