Power Quality Equipment Market 2021: key players, growth and demand drivers to 2026

Global Power Quality Equipment Market Overview:

The power quality equipment market is projected to reach USD 46.1 billion by 2026 from an estimated USD 32.4 billion in 2021, at a CAGR of 7.3% during the forecast period. Reducing overall carbon footprint from electrical devices by improving power quality and maximizing financial costs and energy savings are the key factors driving the growth of the power quality equipment market. The worldwide increase in adoption of smart grid technologies and the integration variable renewable energy with power grids are expected to offer profitable opportunities for the power quality equipment market during the forecast period.   

Key Market Players:

Some of the key players are Siemens (Germany), ABB (Switzerland), Eaton (Ireland), Schneider Electric (France), and General Electric (US).  The leading players are adopting various strategies to increase their share in the power quality equipment market.

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The power quality equipment market in Asia Pacific is projected to be the fastest growing market at during the forecast period. The market in this region has been studied for China, Japan, India, and the Rest of Asia Pacific (South Korea, Australia, Thailand, Vietnam, and Malaysia). The power quality equipment market in Asia Pacific is dominated by China and India. The surging demand for electricity and the growing requirement to increase renewable power generation capacity encourage utilities in these countries to invest in transmission and distribution infrastructures. Asia Pacific is expected to invest USD 9.8 billion in developing smart grid infrastructures from 2018 to 2027. In addition, the development of smart grids in countries such as China, Japan, South Korea, and India is supported by regulations that either encourage or mandate their development. The growth of the market in this country is driven by the increasing investments in transmission and distribution infrastructures and the growing adoption of renewable energy in China.

The power quality equipment market, by phase, is segmented into single phase and three phase. The three phase segment is projected to lead the power quality equipment market from 2020 to 2026. Three-phase power quality equipment are used in utilities, along with industrial and transportation sectors since three phase is commonly used by consumers globally.

Based on equipment, the power quality equipment has been segmented into 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, and power quality meters. The uninterruptable power supplies segment accounted for the largest share of power quality equipment market in 2020. These supplies provide stable and reliable power to critical safety-related loads such as emergency lights and medical equipment, reduce or avoid production losses, minimize or eliminate production damage, avoid product or facility damages, and reduce or avoid electricity-using equipment damages.

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Based on end user, the power quality equipment market has been segmented into industrial and manufacturing, commercial, utilities, transportation, and residential. The industrial and manufacturing segment is projected to hold the largest market size of the power quality equipment market from 2021 to 2026. The growth of this segment is driven by rise in demand for uninterrupted power supply to machines used in manufacturing and process industries as any interruption or breakdown can result in significant losses due to the loss of production time. Utilities are the key consumer of power quality equipment owing to the fact that the sheer size of electrical networks operated by utilities is larger than the industrial and transportation electric infrastructures.

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Power Quality Equipment Market Poised to Touch $40.85 Billion by 2022: UPS, Harmonic Filters, Surge Protection Devices, Power Conditioning Unit, Static VAR compensator, and Power Quality Meters

According to the market report published by MarketsandMarkets™”Power Quality Equipment Market by Equipment (UPS, Harmonic Filters, Surge Protection Devices, Power Conditioning Unit, Static VAR compensator, and Power Quality Meters), Phase (Single and Three Phase), End-User, and Region - Global Forecast to 2022", The power quality equipment market is expected to grow from an estimated USD 29.74 Billion in 2017 to USD 40.85 Billion by 2022, registering a CAGR of 6.56%, from 2017 to 2022.

The global market is set to witness a significant growth due to the growing demand for protection systems for electronic devices, non-uniform power quality and network reliability issues, rise in alternative energy programs, and power quality standardization.

Browse and in-depth TOC on “Power Quality Equipment Market”

71 - Tables

77 - Figures

187 - Pages 

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The industrial and manufacturing segment is expected to hold the largest share of the power quality equipment market, by end-user, during the forecast period

 

The industrial and manufacturing segment led the power quality market in 2016, and is projected to dominate the market during the forecast period. The Industry 4.0 initiative is being applied to vehicles and electrical machinery in order to facilitate remote diagnostics, remote maintenance, and remote data capture. Such initiatives have increased the need for data centers, servers, and communication systems. With the increasing use of electronic equipment, the need for protection systems for such critical equipment has been increasing. This is driving the market for power quality equipment in the industrial and manufacturing segment, which is expected to create new revenue pockets for the power quality equipment market during the forecast period.

Solid oxide fuel cells to be the fastest growing segment in the power quality equipment market

 

With respect to the equipment segment, solid oxide fuel cells are expected to constitute the fastest growing market from 2017 to 2022. These fuel cells generate electricity using a hard, ceramic compound of metal as an electrolyte, like calcium or zirconium oxides. The generated electricity can compensate for the dip in the quality of power flowing through the electrical network. The generated electricity from these fuel cells can inject power into the electrical circuit to maintain the power quality parameters when the electrical load reduces in these circuits. 

The target audience of this report includes:

· Power quality equipment manufacturers, dealers, and suppliers

· Consulting companies in the energy and power sector

· Government and research organizations

· Investors and shareholders

· Environmental research institutes

· Process industries and power and energy associations

· Manufacturing industry

· Energy efficiency consultants 

North America: The leading market for power quality equipment

 

The North American market is expected to dominate the global power quality equipment market. The U.S. is investing in various protection systems for urbanized infrastructure development. The North American region has age old T&D infrastructure, due to which the region is more prone to power outages. According to an estimate, approximately 6% of the total electricity generated is usually lost during transmission and distribution from the grid to the consumer. The U.S. government is focusing on grid restructuring to overcome this issue. Multi-billion-dollar investments in data centers and urban infrastructure for the telecom industry have paved a way for the demand for power quality equipment to grow phenomenally. The increasing demand from the public infrastructure along with new renewable power projects are expected to create growth opportunities for the power quality equipment market in the region.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the power quality equipment market. These players include ABB, Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), Emerson Electric Company (U.S.), Eaton Corporation Plc (Ireland), and General electric Company (U.S.). The leading players are trying to make inroads in the markets in developed economies and are adopting various strategies to increase their market shares.

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Power Quality Equipment Market Is Expected to Witness A Significant CAGR In the Period 2017-2022

The report “Power Quality Equipment Market by Equipment (UPS, Harmonic Filters, Surge Protection Devices, Power Conditioning Unit, Static VAR compensator, and Power Quality Meters), Phase (Single and Three Phase), End-User, and Region - Global Forecast to 2022", The power quality equipment market is expected to grow from an estimated USD 29.74 Billion in 2017 to USD 40.85 Billion by 2022, registering a CAGR of 6.56%, from 2017 to 2022.

Don’t miss out on business opportunities in Power Quality Equipment Market. Download PDF Brochure and gain crucial industry insights that will help your business grow: 

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=110225967

 

The global market is set to witness a significant growth due to the growing demand for protection systems for electronic devices, non-uniform power quality and network reliability issues, rise in alternative energy programs, and power quality standardization.

Browse and in-depth TOC on “Power Quality Equipment Market”

71 – Tables

77 – Figures

187 – Pages 

https://www.marketsandmarkets.com/Market-Reports/power-quality-equipment-market-110225967.html

 

The industrial and manufacturing segment is expected to hold the largest share of the power quality equipment market, by end-user, during the forecast period

 

The industrial and manufacturing segment led the power quality market in 2016, and is projected to dominate the market during the forecast period. The Industry 4.0 initiative is being applied to vehicles and electrical machinery in order to facilitate remote diagnostics, remote maintenance, and remote data capture. Such initiatives have increased the need for data centers, servers, and communication systems. With the increasing use of electronic equipment, the need for protection systems for such critical equipment has been increasing. This is driving the market for power quality equipment in the industrial and manufacturing segment, which is expected to create new revenue pockets for the power quality equipment market during the forecast period. 

Speak to Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=110225967

 

Solid oxide fuel cells to be the fastest growing segment in the power quality equipment market

 

With respect to the equipment segment, solid oxide fuel cells are expected to constitute the fastest growing market from 2017 to 2022. These fuel cells generate electricity using a hard, ceramic compound of metal as an electrolyte, like calcium or zirconium oxides. The generated electricity can compensate for the dip in the quality of power flowing through the electrical network. The generated electricity from these fuel cells can inject power into the electrical circuit to maintain the power quality parameters when the electrical load reduces in these circuits.

The target audience of this report includes:

· Power quality equipment manufacturers, dealers, and suppliers

· Consulting companies in the energy and power sector

· Government and research organizations

· Investors and shareholders

· Environmental research institutes

· Process industries and power and energy associations

· Manufacturing industry

· Energy efficiency consultants 

North America: The leading market for power quality equipment

 

In this report, the power quality equipment market has been analyzed with respect to five regions, namely, North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The North American market is expected to dominate the global power quality equipment market. The U.S. is investing in various protection systems for urbanized infrastructure development. The North American region has age old T&D infrastructure, due to which the region is more prone to power outages. According to an estimate, approximately 6% of the total electricity generated is usually lost during transmission and distribution from the grid to the consumer. The U.S. government is focusing on grid restructuring to overcome this issue. Multi-billion-dollar investments in data centers and urban infrastructure for the telecom industry have paved a way for the demand for power quality equipment to grow phenomenally. The increasing demand from the public infrastructure along with new renewable power projects are expected to create growth opportunities for the power quality equipment market in the region. 

Request Sample Report Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=110225967

 

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the power quality equipment market. These players include ABB, Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), Emerson Electric Company (U.S.), Eaton Corporation Plc (Ireland), and General electric Company (U.S.). The leading players are trying to make inroads in the markets in developed economies and are adopting various strategies to increase their market shares. 

Adjacent Markets –

Surge Protection Devices Market by Type (Hard-Wired, Plug-In, and Line Cord), Discharge Current (Below 10 kA, 10 kA–25 kA, and above 25 kA), End-User (Industrial, Commercial, and Residential), and Region - Global Forecast to 2022

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. 

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. 

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Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com