Power Quality Equipment Market is expected to grow over the CAGR of around 5.5% during the period 2017 to 2023
The major driver for the growth of the power quality equipment market can be attributed to the rapid increase in the demand for the protection systems embedded in the electronic devices. The boom in the alternative energy programs and the standardization in the quality of the power quality are also expected to drive the growth of the power quality equipment market. The working of many end user industries such as electronics, automotive and manufacturing among others are facing problems related to the non-uniform power quality. This has in turn lead to an increased use of the power quality equipment by these end-user industries. However, the growth of this market is expected to be restrained by the high cost of installation of these power quality equipment.
The key players of Power quality equipment market are
- ABB, Ltd. (Switzerland),
- Active Power, Inc. (U.S.),
- Eaton Corporation, PLC (Republic of Ireland),
- Emerson Electric Co. (U.S.),
- General Electric (U.S.),
- MTE Corporation (U.S.),
- Schneider Electric SE (France),
- Siemens AG (Germany),
- Smiths Group plc. (U.K.)
- Toshiba Corporation (Japan)
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Market Research Analysis
The Asia-Pacific region is expected to grow the fastest in the Power quality equipment market owing to the initiatives undertaken for clean energy with the objective of meeting the large scale demand for energy. The region is also offering huge opportunities for foreign direct investments which is in turn leading to the growth of the power quality equipment market in the Asia-pacific region. The increase in investments for the improved infrastructure, majorly in the developing nations of India and China are further expected to contribute to the growth of the power quality equipment market. The growth is further expected to be driven by the huge investments in smart cities which include distribution through smart meters.
The growth of the Power quality equipment market is driven by the increasing trends of digitization across the globe. The loss associated with the power transmission is encouraging the market for adoption of power quality equipment with the objective of prevention of loss majorly in terms of productivity. The other driver for the growth and adoption of the power quality equipment in the emerging need for maintaining the efficiency of power distribution channels. However, the growth of the market is expected to be hindered by the high cost of power quality equipment.
Taste the market data and market information presented through more than 50 market data tables and figures spread in 110 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Power Quality Equipment Market Research Report – Forecast To 2023”
The report has been analyzed based on the equipment, phase, application and regions. Amongst all equipment, the UPS segment is expected to contribute the highest towards the growth of the power quality equipment market. UPS is an electric storage system, which is majorly used in the times of electricity outrages for the reduction of costs and reducing the negative effects of power outages. During outages, the energy stored in this UPS is used as a back-up for maintain the supply of the power to those industries which make use of the electronics and electrical equipment. UPS provides a stable electricity supply to the safety related loads which includes equipment such as use in medical equipment, for avoiding the loss of productivity in the manufacturing plants and avoid the damages caused to the electricity using equipment.
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Scope of the Report
This study provides an overview of the global Power quality equipment market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Power quality equipment market by its equipment, phase, application and region.
- Static VAR compensator
- Power quality meters
- Single phase
- Three phase
- Energy and utilities
- Automotive and industrial
- North America
- Asia Pacific
- Rest of the World
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