Power Quality Equipment Market by Phase (Single Phase, Three Phase), by End-Users (Industrial and Manufacturing, Commercial, Others End-Users) and Region (North America, Europe, Asia Pacific, Middle East and Africa, and South America), Global Forecast 2017 to 2027

The quality of power is typically addressed on the basis of a number of parameters. The power quality measurement for the equipment manages common parameters for efficiency such as flicker, harmonics, current, voltage dips, voltage, transients and power. Such systems are capable of managing numerous disruptions. The main explanation for its use in power output analysis is the fact that devices that can accommodate several measurements of disturbances is that these disturbances appear to become a possible state of fault. It is impossible to determine in advance what kind of disturbances can lead to a possible fault; thus, tools with several capabilities for detecting disturbances are used.

For ease of access and increased precision in measurements, power quality control facilities are integrated in the device itself. Power quality devices primarily aim to reduce the use of multiple devices in a system where a single or a few units can perform the entire measurement work. The scalability of the measuring equipment for power quality increases as the device expands. Thus, several meters can be analyzed simultaneously. Such instruments are able to remotely configure and control meters in classes. They are able to retrieve data automatically from the meters themselves. It is possible to obtain a condensed description of the disruption. For rectification operations, this output may be dispersed across the grid.

Equipment Segment

Based on the equipment, the market is segmented into surge arresters, harmonic filters, surge protection devices, power conditioning units, uninterruptable power supply, isolation transformers, synchronous condenser, power distribution units, voltage regulator, static VAR compensator, solid oxide fuel cells, digital static transfer switch, and power quality meters. The uninterruptable power supply has the largest share in the market in 2019 and the market is forecasted to grow with the significant rate of above 4% CAGR over the forecast period. The product is widely used because of its primary protection feature for the critical equipment from the voltage interruption.
 

End User Segment

In terms of the end user segment, the market is segmented into industrial and manufacturing, utilities, transportation, residential, and commercial. In 2019, the commercial segment has the fastest growth in market and is anticipated to rise with a CAGR of above 4% over the forecast period. The use of remote diagnostics, remote data capture and remote maintenance, in the industry is being applied to electrical machinery and vehicles. The need for data centers, servers, and networking networks has been intensified by such measures. The need for safety systems for such vital infrastructure has been rising with the increasing use of electronic infrastructure. This fuels the demand for equipment for power efficiency in the commercial sector.
 

The North America region has the largest share in market with a CAGR of more than 6.2% in 2019 and is anticipated to continue with the same position during the forecast years 2018-2028. The North America region are seeing a major rise in the use of power quality equipment by countries, such as the U.S., and Mexico and Canada. The need for power quality equipment is fueled by the increasing demand for equipment in end-use industries such as industrial & manufacturing, commercial, and residential. The U.S. is expected to be the region's fastest-growing economy. The large number of investments in urban infrastructures and data centers from the telecom sector has provided a huge demand for the power quality equipment in the country over the coming years.  

Asia Pacific region is anticipated to provide a high CAGR of over 7% during the forecast period. To fulfil its rising energy needs in an effective manner, the country is heading towards renewable energy on a wide scale. Some of the future growth markets in the power and utility sectors are China, Singapore and India. Asia-Pacific has also produced the highest possible gains for foreign direct investment, drawing 45% of all capital investment worldwide. Increased investments in population growth, urbanization, and modernization in the infrastructure sector especially in emerging economies like India and China.

The major players of the global power quality equipment market are Siemens AG, ABB, Ltd., Schneider Electric SE, Eaton Corporation, Plc, General electric Company and Emerson Electric Company. Moreover, the market comprises several other prominent players in the power quality equipment market as Smith Group, Toshiba International, Legrand S.A., Leviton Manufacturing and Acumentrics Corporation. The power quality equipment market consists of top, medium level and a number of domestic players in the global market. In addition to this, the well-established players in the industry have made various strategies and research & developments to compete with other players in the regional and global market