The global power quality equipment market size reached US$ 17.5 Billion in 2023. Looking forward, the market is projected to reach US$ 29.0 Billion by 2032, exhibiting a growth rate (CAGR) of 5.77% during 2023-2032.
Power quality equipment is a device, which is extensively deployed in the residential and commercial sector for regulating, providing, and maintaining uniform power quality. It is further utilized to ensure a steady voltage supply and reduce the utility of multiple devices in a system. Power quality equipment offers various benefits, such as eliminating premature aging of equipment, enhanced efficiency avoiding damages, and avoiding loss of data. Besides this, some of the most commonly used power quality equipment include harmonic filters, isolation transformers, power quality meters and compensators.
The market is also driven by the growing investments in the manufacturing and industrial sectors for developing new advanced technologies. Other factors, numerous initiatives undertaken by the government of various countries for strengthening the manufacturing sector and the increasing investments in upgrading the existing grid systems, along with extensive research and development (R&D) activities, are stimulating market growth across the globe. The introduction of innovative product variants is also creating a positive outlook for the market further.
2. What is the expected growth rate of the global power quality equipment market during 2024-2032?
3. What are the key factors driving the global power quality equipment market?
4. What has been the impact of COVID-19 on the global power quality equipment market?
5. What is the breakup of the global power quality equipment market based on equipment?
6. What is the breakup of the global power quality equipment market based on the phase?
7. What is the breakup of the global power quality equipment market based on the end user?
8. What are the key regions in the global power quality equipment market?
9. Who are the key players/companies in the global power quality equipment market?
Power quality equipment is a device, which is extensively deployed in the residential and commercial sector for regulating, providing, and maintaining uniform power quality. It is further utilized to ensure a steady voltage supply and reduce the utility of multiple devices in a system. Power quality equipment offers various benefits, such as eliminating premature aging of equipment, enhanced efficiency avoiding damages, and avoiding loss of data. Besides this, some of the most commonly used power quality equipment include harmonic filters, isolation transformers, power quality meters and compensators.
Power Quality Equipment Market Trends
The widespread adoption of power quality equipment in the industrial and manufacturing sectors due to the continued growth of transmission, distribution, and renewable integration is one of the key factors primarily driving the global power quality equipment market toward growth. Furthermore, the increasing demand for uninterrupted power supply, along with the requirement for smart grid infrastructure for ensuring the power quality is positively influencing the market growth. In line with this, the escalating utilization of power quality equipment due to the need for high-capacity electricity systems in power data centers and servers is propelling is acting as another growth-inducing factor.The market is also driven by the growing investments in the manufacturing and industrial sectors for developing new advanced technologies. Other factors, numerous initiatives undertaken by the government of various countries for strengthening the manufacturing sector and the increasing investments in upgrading the existing grid systems, along with extensive research and development (R&D) activities, are stimulating market growth across the globe. The introduction of innovative product variants is also creating a positive outlook for the market further.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global power quality equipment market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on equipment, phase and end user.Breakup by Equipment:
- Uninterruptable Power Supply (UPS)
- Harmonic Filters
- Static VAR Compensator
- Power Quality Meters
- Others
Breakup by Phase:
- Single Phase
- Three Phase
Breakup by End User:
- Industrial and Manufacturing
- Commercial
- Others
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
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.Key Questions Answered in This Report
1. What was the size of the global power quality equipment market in 2023?2. What is the expected growth rate of the global power quality equipment market during 2024-2032?
3. What are the key factors driving the global power quality equipment market?
4. What has been the impact of COVID-19 on the global power quality equipment market?
5. What is the breakup of the global power quality equipment market based on equipment?
6. What is the breakup of the global power quality equipment market based on the phase?
7. What is the breakup of the global power quality equipment market based on the end user?
8. What are the key regions in the global power quality equipment market?
9. Who are the key players/companies in the global power quality equipment market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Power Quality Equipment Market
6 Market Breakup by Equipment
7 Market Breakup by Phase
8 Market Breakup by End User
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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
- Siemens Aktiengesellschaft
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 17.5 Billion |
| Forecasted Market Value ( USD | $ 29 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
