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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