Power Quality Equipment Market Grows: 6.35% CAGR

Evolve Business Intelligence has published a research report on the Global Power Quality Equipment Market, 2024–2034. The global Power Quality Equipment Market is projected to exhibit a CAGR of around 6.35% during the forecast period of 2024 to 2034.

Evolve Business Intelligence has recognized the following companies as the key players in the global Power Quality Equipment Market: Eaton, ABB, Siemens, Schneider Electric, General Electric., Toshiba, Emerson, Legrand, Honeywell and Infinite Electronics Duromax.

Market Highlights

The Global Power Quality Equipment Market is projected to be valued at USD 73.44 Billion by 2034, recording a CAGR of around 6.35% during the forecast period. The Power Quality Equipment Market refers to the sector focused on products and technologies designed to improve the quality of electrical power. Power quality issues can arise from various sources, including electrical noise, voltage sags or swells, harmonic distortion, and interruptions in power supply, which can adversely affect equipment performance and reliability.

The Power Quality Equipment Market is expected to grow as industries continue to invest in technologies that enhance operational efficiency and reliability. The demand for high-quality power is becoming more critical as businesses and consumers become increasingly dependent on advanced electronic devices.

Segmental Analysis

The global Power Quality Equipment Market has been segmented based on Equipment, Phase and End User.

Based on Equipment, the Power Quality Equipment Market is segmented into 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 Uninterruptable Power Supplies segment is anticipated to dominate the market.

Based on Phase, the global Power Quality Equipment Market has been divided into Single Phase and Three Phase. The Three Phase segment is anticipated to dominate the market.

Based on End User, the global Power Quality Equipment Market has been divided into Residential, Commercial, Industrial and Manufacturing, Utilities and Transportation. The Industrial and Manufacturing segment is anticipated to dominate the market.

Regional Analysis

The Power Quality Equipment Market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, & Africa. North America is one of the largest markets for power quality equipment, driven by advanced infrastructure and a focus on energy efficiency and a growing number of data centers requiring high-quality power. Europe has a well-established market for power quality equipment, supported by regulations promoting energy efficiency and renewable energy integration and investments in smart grid technologies and renewable energy sources. The Asia-Pacific region is witnessing rapid growth in the power quality equipment market, driven by industrialization and urbanization and expanding manufacturing sectors and increasing energy demand. The Latin American market for power quality equipment is emerging, with growing investments in infrastructure and energy projects and increasing demand for reliable power supply in industrial and commercial sectors. The power quality equipment market in the Middle East and Africa is gradually expanding, driven by infrastructural development and the need for reliable power and rapid industrialization and urbanization leading to higher power demand.