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. The power quality equipment’s are the equipment that regulates power and provides uniform power quality to residential, commercial, industrial and manufacturing sectors. It aids in maintaining a constant voltage supply within a set range. The quality of power is usually assessed using a number of metrics which includes flicker, current, harmonics, voltage dips, power, voltage, and transients. Multiple disturbances can be handled by this apparatus. The primary goal of power quality equipment is to limit the need for many pieces of equipment in a system.
|Market Size (2028)||$54.18 Billion|
|CAGR (2021 to 2028)||7.40%|
|Market Classificationt||Equipment, Phase, End User|
|Key Companies Profiled||Eaton, ABB, Siemens, Schneider Electric, General Electric, Toshiba, Emerso, Legrand, Honeywell, AMETEK Powervar, Infinite Electronics Duromax, Piller Power Systems, Acumentrics, Leviton Manufacturing, MTE, Socomec.|
|Key Countries/Regions Analyzed||US, Canada, Mexico, UK, Germany, France, Italy, Rest of Europe, China, India, Japan, South Korea, Rest of Asia Pacific, Middle East & Africa, and South America|
|Forecast Years||2022 to 2028|
The factors driving the global power quality equipment market growth include a rising demand for electricity, maximized cost and energy savings. Moreover, owing to the rapid development in digitalization trends in telecom industry, the power quality equipment market is expected to grow at a significant rate throughout the forecast period.
- Cost and energy savings are maximized
To provide a constant flow of reliable power, the power quality equipment is utilized in power networks. The grid power flow should be kept within prescribed voltage and frequency restrictions. A clean sinusoidal waveform is required. A power that is of good quality saves both money and energy. Power quality equipment helps to prevent equipment damage and premature aging, sudden equipment faults, poor performance, and unexpected shutdowns, and capacitor bank failures, saving money and energy. When the power quality is consistent, the users saves money on energy and power bills. Businesses and the economy suffer significant losses as a result of poor power quality. To improve power quality and reduce losses, various power quality equipment such as harmonic filters, voltage optimizers, compensators, isolation transformers, and power quality meters are used. As a result, the power quality equipment market is being propelled by enormous energy and cost savings technologies.
The factors restraining the growth of power quality equipment market size include the high initial investment cost of installing power quality equipment coupled with lack of consumer knowledge, which would hamper power quality equipment market shares.
Key Insight in the report:
The global power quality equipment market report covers Executive Summary, Market Dynamics, Trend Analysis, Market Size and Forecast, Competitive Intelligence, Market Positioning, Product Benchmarking, and Opportunity Analysis.
The report covers extensive competitive intelligence which includes the following data points:
- Business Overview
- Business Model
- Financial Data
- Financial – Existing
- Financial – Funding
- Product Segment Analysis and specification
- Recent Development and Company Strategy Analysis
- SWOT Analysis
Power Quality Equipment Market Segmentation
The report covers power quality equipment market size and forecasting at the country level as well as at the segment level. Power Quality Equipment Market is analyzed across the below-mentioned different segments:
- 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
- Single Phase
- Three Phase
- Industrial and manufacturing
Asia Pacific dominates the power quality equipment industry, which is attributed to the rising adoption of power quality equipment in China and India. The rising electricity demand, and the growing need to expand renewable power-producing capacity, motivate these countries’ utilities to invest in transmission and distribution infrastructure. Furthermore, smart grid growth is aided by policies in nations such as China, Japan, South Korea, and India, which either encourage or mandate the development of smart grids. The power quality equipment shares are growing in this country by China’s increased investment in transmission and distribution infrastructure, and its growing use of renewable energy.
The power quality equipment market analysis across the mentioned region.
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Rest of the World
Power quality equipment Market Players:
Some of the key players in Power Quality Equipment Market include:
- Schneider Electric
- General Electric.
- Infinite Electronics Duromax
REPORT CONTENT BRIEF:
- High level analysis of the current and future market trends and opportunities
- Detailed analysis on current market drivers, restraining factors, and opportunities in the future
- Power Quality Equipment market historical market size for year 2020, and Power Quality Equipment market forecast from 2021 to 2028
- Vendor market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations and partnerships as well as funding taken and investment done, among Industrial and manufacturing.