Evolve Business Intelligence will be publishing a new market research report on Global Power Quality Equipment Market , According to the study, The global power quality equipment market size is estimated to reach $54.18 Billion by 2028 growing at the CAGR of 7.40% from 2021 to 2028. Some of the major factors impacting the overall growth of Power Quality Equipment market include increasing demand for electricity, the rapid advancement of digitalization trends in the telecom industry.
According to Lekha, “The COVID-19 has hampered the market for power quality equipment since the manufacturing facilties have been temporarily shutdown. Governments and local authorities had set strict restrictions, halting any non-essential operations. Mainly as a result users’ cessation of activities, this had a negative impact on the power quality equipment industry.”
In 2020, the segment of uninterruptible power supply owned the high share of the power quality equipment market.
The Power Quality Equipment market has witnessed several new additions to the number of players offering the product. Some of these companies are Siemens, General Electric, Toshiba, Emerson, and ABB. The uninterruptible power supply is expected to continue to hold the highest market share during the forecast period.
The Power Quality Equipment market report published today includes market revenue generated through the sale of Power Quality based on equipment types such as Surge Arresters, Surge Protection Devices, Harmonic Filters, Power Conditioning Units, Power Distribution Units, Uninterruptable Power Supplies, Synchronous Condensers, Voltage Regulators, Digital Static Transfer Switches, Static Var Compensators, Solid Oxide Fuel Cells, Isolation Transformers, Power Quality Meters. The report includes the analysis of the market based on phases such as Single Phase, Three Phase. The report also includes the analysis of the market based on end-use industries such as Residential, Commercial, Industrial and Manufacturing, Utilities, Transportation.