According to the latest report by IMARC Group, the global power quality equipment market reached a value of US$ 15.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 23.7 Billion by 2027, exhibiting at a CAGR of 7.10% during 2022-2027.
Power quality equipment are devices that are used for providing, regulating, and maintaining uniform power capacity. They include isolation transformers, harmonic filters, compensators, uninterruptable power supply (UPS), etc. Power quality equipment are utilized to ensure a steady voltage supply and minimize the utility of several systems at a time. These devices offer various benefits, such as enhanced efficiency, eliminating premature aging of tools, avoiding damages, reducing data loss, etc. As a result, power quality equipment find widespread applications across several establishments, including residential, commercial, manufacturing, industrial, etc.
Global Power Quality Equipment Industry Trends and Drivers:
The escalating product demand in the industrial and manufacturing sectors on account of continued distribution, transmission, and renewable integration is among the primary factors driving the power quality equipment market. Besides this, the increasing requirement for uninterrupted electrical supply and smart grid infrastructures is further augmenting the market growth.
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Apart from this, the growing need for power quality equipment in high-capacity systems and electronic data centers is also catalyzing the global market. Moreover, the development of advanced and innovative device variants is acting as another significant growth-inducing factor. Furthermore, the launch of policies by the government bodies to upgrade the existing grid networks and the elevating investments in research and development (R&D) activities are anticipated to bolster the power quality equipment market over the forecasted period.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
ABB Ltd., Cordyne Inc., Cyber Power Systems (USA) Inc, Delta Electronics Inc., Eaton Corporation PLC, EMCO Limited, Fluke Corporation (Fortive Corporation), General Electric Company, Hubbell Incorporated, Kyoritsu Electrical Instruments Works Ltd., National Instruments Corporation and Siemens Aktiengesellschaft.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
The report has segmented the market on the basis of region, equipment, phase and end user.
Breakup by Equipment:
- Uninterruptable Power Supply (UPS)
- Harmonic Filters
- Static VAR Compensator
- Power Quality Meters
Breakup by Phase:
- Single Phase
- Three Phase
Breakup by End User:
- Industrial and Manufacturing
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.