Report Ocean recently released a research report on the Power Quality Equipment Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global power quality equipment market revenue was around US$ 28.9 billion in 2021 and is estimated to reach US$ 49.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2022 to 2031.
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Power quality equipment serves as an electrical filter by decreasing or eliminating damaging harmonics and reshaping the sinewave to prolong the life of electrical systems. It is used to constant supply of reliable power. It helps to prevent damages and early aging of equipment, data, loss of production, and work. Sudden equipment faults, subpar performance and unplanned shutdowns, and capacitor bank failures, all of which save energy and money.
Factors Influencing Market Growth
The rising growth of building and construction activities and the manufacturing sector is expected to increase demand for machines and a steady supply of electricity, which can be fulfilled with the aid of power quality equipment, which, in turn, is estimated to fuel the market growth.
An increase in investment in the use of electric power consumption for different industrial activities is likely to offer lucrative opportunities in the market during the forecast period.
The demand for equipment to handle various types of factors, such as current, flicker, voltage, harmonics, and transients is expected to drive the market growth.
Study of the COVID-19 Pandemic
The COVID-19 pandemic had a negative impact on the market. Due to the lockdown enacted by the government, many industries halted. Decreased demand for electricity has hindered the power quality equipment market expansion. Additionally, scarcity of laborers and an increase in demand-supply gaps halted the development of new electric grid utility infrastructures, grid networks, renewable power plants, and other power plants hindering market growth during the pandemic. Thus, a combination of all these variables would lead to a slow market expansion.
Regional Insights
Asia Pacific dominated the market. This is attributed to the region’s abundance of consumers and the presence of important players. It is also projected that the rapidly growing renewable energy industry, an increase in investments in the creation and construction of modern grid infrastructure, and more R&D efforts in the region will drive the growth of the power quality equipment market.
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Leading Competitors
The leading competitors in the global power quality equipment market are:
ABB Ltd
AMETEK Inc
Eaton Corporation
Emerson Electric Co
General Electric
Honeywell International Inc
Legrand
Leviton Manufacturing Co
MTE Meter Test Equipment AG
Piller Power Systems
Others
Segmentation Analysis
The global power quality equipment market segmentation focuses on End User, Equipment, Phase and Region.
Segmentation based on End User
Residential
Commercial
Industrial
Segmentation based on Equipment
Harmonic Filters
Surge Protection Devices
Voltage Regulators
Static VAR Compensators
UPS
Others
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Segmentation based on Phase
Single Phase
Three Phase
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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Table of Content
Chapter 1: Global Power Quality Equipment Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Power Quality Equipment market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Power Quality Equipment Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Power Quality Equipment market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Power Quality Equipment market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Power Quality Equipment market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Power Quality Equipment market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Power Quality Equipment business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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