As per the latest report by IMARC Group, titled “Power Quality Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on power quality equipment market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
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.
The term “power quality equipment” refers to a device that aids in frequency stability and harmonic tracking. It has a number of characteristics that help it maintain a high degree of power quality while minimising operational downtime. For maintaining and regulating uniform power quality, it is widely used in the residential and commercial sectors.
Global Power Quality Equipment Industry Trends and Drivers:
The huge increase in demand for higher power quality in the industrial sector is driving the global market. Furthermore, the market has benefited from the continued deployment of renewable energy and power transmission. Furthermore, the growing implementation of smart grids around the world is a major growth-inducing element. Besides this, numerous initiatives undertaken by the governments of various countries for improving the infrastructure of the manufacturing sector have further boosted the market growth. Moreover, the introduction of innovative product variants and extensive research and development (R&D) have also provided an impetus to the market growth.
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.
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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.