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The global power quality equipment market is anticipated to reach a value of USD 59.5 billion by 2028. The rising demand for electronic product safety systems, the increase of renewable energy projects, non-uniform power quality and network stability problems, and standardization of power quality are the key factors driving the power quality equipment industry. The key driving force for the power efficiency equipment industry is rising power usage especially in the power utility sectors in the developing economies.
The growing industrial and manufacturing sector provides a global CAGR of above 6.5% with a huge demand for the power quality equipment in the market over the forecast period. The growth in the market is also governed by the rise in the number of technological advancements for the power quality equipment from the last few years. In addition, the market is expected to be further driven by strict government regulations on reactive power and penalties implied on end-users coupled with energy efficiency policies in different nations around the globe. However, some of the factors that are expected to limit the power quality equipment market during the forecast period are the impact of COVID-19 and the high cost of installation and deployment of power quality equipment.
Key Segments of the Global Power Quality Equipment Market
Equipment Overview, 2018-2028 (USD Billion, Million Units)
Phase Overview, 2018-2028 (USD Billion, Million Units)
End User Overview, 2018-2028 (USD Billion, Million Units)
Regional Overview, 2018-2028 (USD Billion, Million Units)
North America
Europe
Asia Pacific
Middle East and Africa
South America
Reasons for the study
What does the report include?
Who should buy this report?
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
The global power quality equipment market is anticipated to reach a value of USD 59.5 billion by 2028. The rising demand for electronic product safety systems, the increase of renewable energy projects, non-uniform power quality and network stability problems, and standardization of power quality are the key factors driving the power quality equipment industry. The key driving force for the power efficiency equipment industry is rising power usage especially in the power utility sectors in the developing economies.
The growing industrial and manufacturing sector provides a global CAGR of above 6.5% with a huge demand for the power quality equipment in the market over the forecast period. The growth in the market is also governed by the rise in the number of technological advancements for the power quality equipment from the last few years. In addition, the market is expected to be further driven by strict government regulations on reactive power and penalties implied on end-users coupled with energy efficiency policies in different nations around the globe. However, some of the factors that are expected to limit the power quality equipment market during the forecast period are the impact of COVID-19 and the high cost of installation and deployment of power quality equipment.
Key Segments of the Global Power Quality Equipment Market
Equipment Overview, 2018-2028 (USD Billion, Million Units)
Phase Overview, 2018-2028 (USD Billion, Million Units)
End User Overview, 2018-2028 (USD Billion, Million Units)
Regional Overview, 2018-2028 (USD Billion, Million Units)
North America
Europe
Asia Pacific
Middle East and Africa
South America
Reasons for the study
What does the report include?
Who should buy this report?
Chapter 1 Introduction
1.1 Introduction to the Study
1.2 Market Definition and Scope
1.3 Units, Currency, Conversions and Years Considered
1.4 Key Stakeholders
1.5 Key Questions Answered
Chapter 2 Research Methodology
2.1 Introduction
2.2 Data Capture Sources
2.2.1 Primary Sources
2.2.2 Secondary Sources
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Data Triangulation
2.6 Assumptions and Limitations
Chapter 3 Executive Summary
Chapter 4 Market Outlook
4.1 Introduction
4.2 Value chain analysis
4.3 Macro-economic indicators
4.4 Market dynamics
4.4.1 Drivers
4.4.2 Restraints
4.4.3 Opportunities
4.5 Porter’s five forces analysis
4.6 PEST analysis
4.7 Regulatory framework
Chapter 5 Power Quality Equipment Market by Equipment, 2018-2028 (in USD Million and Million Units)
5.1 Introduction
5.2 Surge Arresters
5.3 Surge Protection Devices
5.4 Harmonic Filters
5.5 Power Conditioning Units
5.6 Power Distribution Units
5.7 Uninterruptable Power Supply
5.8 Synchronous Condenser
5.9 Voltage Regulator
5.10 Digital Static Transfer Switch
5.11 Static VAR Compensator
5.12 Solid Oxide Fuel Cells
5.13 Isolation Transformers
5.14 Power Quality Meters
Chapter 6 Power Quality Equipment Market by Phase, 2018-2028 (in USD Million and Million Units)
6.1 Introduction
6.2 Single Phase
6.3 Three Phase
Chapter 7 Power Quality Equipment Market by End-user Industry, 2018-2028 (in USD Million and Million Units)
7.1 Introduction
7.2 Industrial & manufacturing
7.3 Commercial
7.4 Residential
7.5 Transportation
7.6 Utilities
Chapter 8 Power Quality Equipment Market by Region, 2018-2028 (in USD Million and Million Units)
8.1 North America
8.1.1 U.S.
8.1.2 Canada
8.1.3 Mexico
8.2 Europe
8.2.1 UK
8.2.2 France
8.2.3 Germany
8.2.4 Spain
8.2.5 Rest of Europe
8.3 Asia Pacific
8.3.1 China
8.3.2 Japan
8.3.3 India
8.3.4 Rest of Asia Pacific
8.4 South America
8.4.1 Brazil
8.4.2 Argentina
8.4.3 Rest of South America
8.5 Middle East and Africa
8.5.1 Saudi Arabia
8.5.2 UAE
8.5.3 South Africa
8.5.4 Rest of Middle East & Africa
Chapter 9 Competitive Landscape
9.1 Introduction
9.2 Strategic initiatives
9.2.1 Mergers & acquisitions
9.2.2 New product launch
9.2.3 Investments
9.2.4 Expansion
9.3 Others
Chapter 10 Company Profiles
(Overview, Products and Services Portfolio, Recent Initiatives, Company Financials, SWOT)
10.1 General Electric
10.2 ABB, Ltd.
10.3 Schneider Electric SE
10.4 Emerson Electric Co.
10.5 Eaton Corporation, PLC
10.6 Siemens AG
10.7 Toshiba Corporation
10.8 Legrand S.A.
10.9 MTE Corporation
10.10 Active Power, Inc.
10.11 Other Key Players