The latest research report by Market Research Future (MRFR), reveals that the global power quality equipment market is set to register a steady CAGR of 5.5% during the forecast period of 2018 to 2023. The ever-increasing requirement of power and the various trends in other industries are the major influencers of growth for the global market.
With great importance being laid on reliable and stable power, the use of power quality equipment has gradually become crucial to ensuring powerful and consistent networks. The trend of digitization in the telecommunications industry is a prime example of an industry which is driving the growth of the power quality equipment market due to the pronounced requirement for consistent energy supply. Globally, with the population rising and rapid urbanization in developing & underdeveloped countries has stressed a great demand for reliable energy supply. To meet these needs, there is an increased demand for protection systems in electronic devices, and an increase in the adoption of alternate energy sources. Additionally, the implementations of regulations to ensure standardization is expected to contribute to the growth of the global power quality equipment market during the forecast period.
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Latest Industry News:-
ABB has been awarded projects from the Ministry of Electricity in Iraq to deliver 15 mobile substations to strengthen the power grid for electricity supply to central Iraq.
Schneider Electric has launched Masterpact MTZ, a third generation, high power, low voltage air circuit breaker with certified Class 1 energy metering (embedded).
Seimens has recently commissioned the world’s largest Static Synchronous Compensator (STATCOM) solution for the Power Grid Corporation of India (PGCIL) in the state of Odisha. The STATCOM will be regulating transmission variations according to grid conditions in order to supply stable power.
Indusrty Top Key Players:-
Market leading players that have been analyzed for their role in the global competitive landscape include Eaton Corporation PLC, Toshiba Corporation, MTE Corporation, Siemens AG, Emerson Electric Co., Smiths Group plc., Schneider Electric SE, Active Power, Inc., ABB, Ltd., and General Electric
The global power quality equipment market has been segmented on the basis of equipment, phase, application, and region. By equipment, the market has been segmented into UPS, Static VAR compensator, power quality meter, and others.
By phase, the market has been segmented into single phase, and three phase.
By application, the market has been segmented into telecommunications, energy & utilities, automotive and industrial, electronics and others.
By region, the global market has been segmented into North America, Europe, the Asia-Pacific and the Rest of the World.
Major Points of TOC:-
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Power Quality Equipment Market, By Equipment
4.2 Static VAR Compensator
4.3 Power Quality Meters
To be continued….
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Led by the U.S, North America accounts for the largest share of the global market due to the presence of several prominent players in the region. Additionally, the region possesses old transmission and distribution infrastructure which requires the use of power quality equipment. The restructuring of the existing infrastructure to meet the growing energy needs is driving the power quality equipment market to avoid loss of electricity.
The Asia-Pacific is expected to be a significant market during the forecast period due to the presence of several rapidly emerging economies that have growing urbanization and as a result higher power needs. The presence of a robust manufacturing industry combined with various players shifting BPOs in this region to leverage lower operating costs are driving the demand for power in the region and as a result power quality equipment.
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