Global Power Quality Equipment Market Size By Equipment (Uninterruptable Power Supply, Static VAR Compensator), By Phase (Single Phase, Three Phase), By End User (Industrial And Manufacturing, Commercial), By Geographic Scope And Forecast

Power Quality Equipment Market Size And Forecast

Power Quality Equipment Market size was valued at USD 29.01 Billion in 2021 and is projected to reach USD 49.01 Billion by 2030, growing at a CAGR of 6.10% from 2023 to 2030.

So, what's making the Global Power Quality Equipment Market grow? Well, think about itwe're seeing rapid industrial growth, a huge need for electricity, and tons of money flowing into the oil & gas biz. All that pushes the demand for this kind of equipment. Plus, with everyone adopting IoT, artificial intelligence, and machine learning in factories and other industries, these tools are becoming more and more popular. Our Global Power Quality Equipment Market report really digs into all of this. You'll find a complete look at the important areas, the direction things are heading, what's helping and hurting the market, who the big players are, and what's really making a difference.

Global Power Quality Equipment Market Definition

Power quality equipment states that equipment is majorly utilized to provide uniform power quality with regulating power. It helps to ensure a supply of uninterrupted voltage within a defined range. The power quality is delivered which is based on various parameters such as the flicker current, harmonics, voltage dips, voltage, and transients.

The power quality equipment work with the intention to eliminate the multiple uses of equipment in the system. It supports the database where the collection and analysis of the data can be read and stored in time with no lags and also effectively analyses the data needed for the short period. Power quality equipment helps in avoiding damages, is cost-effective, and helps to premature aging of equipment, loss of production, data, and work, sudden equipment malfunctions, poor performance, unexpected shutdowns, and capacitor bank failures.

Global Power Quality Equipment Market Overview

The growth in the market is supported by the tremendous expansion in the Oil & Gas and Power generation industries. Owing to this demand the market for power-quality equipment is expected to remain steady during the forecast period. Such machinery is a major and critical component of many mechanical systems in industrial plants, air and ground vehicles, and many other applications.

In addition, increasing investment in infrastructure development projects will drive the growth of this market during the forecast period. Also, Technological developments in production make the manufacturing process smooth and time-saving tasks, thus driving the manufacturer’s need for high-quality performance equipment. For instance, the rising integration of power quality equipment with IoT leveraging intelligent monitoring and control is significantly triggering the growth of the market. IoT apps are essential to delivering updates in real-time, including shipment and storage status, repair and proactive maintenance warnings, and details from the supply chain.

Industrial IoT enables rotating equipment suppliers to stay connected to their assets and, consequently develop new and lucrative business models which are set to drive market growth. Integration of IoT with such equipment offers improved operating performance, less downtime, and increased productivity. Developments of unique projects in these sectors assist in diversifying the Power Quality Equipment Market.

However, high installation costs and maintenance of power-quality equipment are expected to limit the growth of the market during the forecasted period. Moreover, the increase in building & construction activities and the rapidly growing manufacturing sector in developing nations globally influence the need for continuous power supply and equipment, which in turn, propels the demand for power-quality equipment, and this is likely to drive the growth of the market over the estimated period.

Global Power Quality Equipment MarketSegmentation Analysis

The Global Power Quality Equipment Market is Segmented on the basis of Equipment, Phase, End User, and Geography.

Power Quality Equipment Market, By Equipment

• Uninterruptable Power Supply
• Static VAR Compensator
• Power Quality Meters
• Others

Based on Type, the market is bifurcated into Uninterruptable Power Supply, Static VAR Compensator, Power Quality Meters, and Others. The Uninterruptable Power Supply segment is expected to hold the major share in 2021. This is attributed to the rising demand for a continuous flow of stable power from electric utilities such as small offices, hospitals, electric point terminals, and telecommunication centers for power backup.

Power Quality Equipment Market, By Phase

• Single Phase
• Three Phase

Based on Application, the market is bifurcated into Single Phase and Three Phase. Three phase segment accounts for the major share of the market in 2021. Owing to the rapid growth of the renewable energy industry globally is anticipated to push the growth of the market.

Power Quality Equipment Market, By End User

• Industrial & Manufacturing
• Commercial
• Residential
• Transportation
• Utilities

Based on End User, the market is bifurcated into Industrial & Manufacturing, Commercial, Residential, Transportation, and Utilities. The industrial segment is expected to grow at the highest rate during the forecasted period. Owing to the expansion of cities has led to increasing demand for power grids, which is propelling the growth of the market. Furthermore, the rapidly growing heavy industries which include paper mills, chemical plants, sugar mills, and automobile plants enhance the requirement for power-quality equipment.

Power Quality Equipment Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

On the basis of Regional Analysis, the Global Power Quality Equipment Market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The Asia Pacific region accounts for a large share of the market as it is the biggest producer of electricity, and China is the major player and dominates the Power Quality Equipment Market in the region. This is attributed to the increasing demand for electricity and the rapid development of manufacturing plants in the region.

Key Players

The “Global Power Quality Equipment Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are ABB Ltd, AMETEK Inc, EATON CORPORATION PLC, Emerson Electric Co, General Electric, Honeywell International Inc., Legrand, Leviton Manufacturing Co., MTE Meter Test Equipment AG, Piller Power Systems.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Power Quality Equipment Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Power Quality Equipment Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope

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Reasons to Purchase this Report

We'll dive deep into the market using both number-crunching (quantitative) and understanding the 'why' (qualitative), looking at different segments through an economic and social lens. You'll get market value data (in USD Billion) for every slice and dice of the market. We'll pinpoint the region and segment poised for explosive growth and market leadership. Expect a geographical breakdown, showing product/service adoption and the key factors shaping each regional market. We'll map out the competitive scene, ranking the top players and highlighting their latest moves – new offerings, alliances, expansions, and acquisitions – over the last five years, complete with detailed company profiles including company overviews, insights, product comparisons, and SWOT analyses. Get a grip on the industry's present and future, considering recent trends, growth opportunities, key drivers, and the hurdles facing both up-and-coming and established regions. We'll also dissect the market using Porter's five forces and give you a clear picture of the value chain. Finally, we'll provide market dynamics, look at upcoming growth opportunities, and include 6 months of analyst support after your purchase.

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