As an indispensable infrastructure for the world's economic development, UPS is finding expanded application scope along with ever-accelerating informatization. However, due to the negative impact of the COVID-19 pandemic on supply and demand, the global UPS hardware market dropped 4.7% for the first time in 2020, to just under US$6.75 billion. 

Helped by strict virus containment measures and emergency relief for businesses, China’s UPS market has been less negatively impacted in 2020. Although it saw a decline in Q1 and Q2 due to nationwide lockdowns, the demand recovered steadily since the pandemic hit. What’s more, China’s digital transformation and new infrastructure plan– including building 5G networks, artificial intelligence (AI), Internet of Things (IoT), intercity high-speed rail, and setting up research and development institutions become new growth engines of UPS market. It is expected that the Chinese UPS market sales will exceed RMB 7.46 billion (USD 1.15 billion) by 2023.

Well-known UPS brands such as Huawei, Kehua, Kstar, Vertiv, Santek, Schneider Electric were the top 6 players in terms of UPS sales in China and occupied a combined 71.1% market share. Huawei, Kstar and Kehua are all local companies, of which Huawei holds the highest market share, coming to 16.9% in 2020 while Kstar remained the top UPS vendor based on units, with 200,000 shipment last year.