According to Stratistics MRC, the global transformerless UPS market is expected to grow at a CAGR of 13.4% during 2017-2023. Increasing demand from various industries, raising technological advancements in transformerless UPS, and growing focus on alternate power sources are some of the major factors propelling the market growth during the forecast period.
On the other hand, high operational costs of transformerless UPS are hampering the market growth.
Among the applications segment, IT industry signifies higher growth rate during the forecast period. Asia Pacific is expected to witness fastest growth on account of rapid industrialization growth and poor power supplies.