IMARC Group, a leading market research company, has recently releases report titled “Power Quality Equipment Market Report by Equipment (Uninterruptable Power Supply (UPS), Harmonic Filters, Static VAR Compensator, Power Quality Meters, Others), Phase (Single Phase, Three Phase), End User (Industrial and Manufacturing, Commercial, and Others), and Region 2024-2032.” The global power quality equipment market size reached US$ 17.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 29.0 Billion by 2032, exhibiting a growth rate (CAGR) of 5.6% during 2024-2032.
What is Power Quality Equipment?
Power quality equipment refers to a device that is widely deployed in the residential and commercial sectors for regulating, providing, and maintaining uniform energy quality. It includes harmonic filters, isolation transformers, power quality meters, and compensators. This quality equipment is further used to ensure a steady voltage supply and reduce the utility of numerous instruments in a system. In addition, it offers several benefits, including eliminating premature aging of tools, enhanced efficiency avoiding damages, and evading loss of data.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/power-quality-equipment-market/requestsample
What are the growth prospects and trends in the power quality equipment industry?
The escalating demand for this device in the industrial and manufacturing sectors, on account of the widespread adoption of renewable energy and power transmission, is among the key factors driving the power quality equipment market. Moreover, the elevating requirement for uninterrupted energy supply and the rising need for smart grid infrastructure to ensure power quality are also stimulating the market growth.
Besides this, the increasing usage of this device, owing to the escalating demand for high-capacity electricity systems in power data centers and servers, is acting as another significant growth-inducing factor. Furthermore, the growing investments in the industrial sector for developing new advanced technologies are further propelling the global market. Apart from this, the launch of various initiatives undertaken by the government bodies of numerous countries for strengthening the manufacturing sector and upgrading the existing grid systems is positively influencing the market growth.
Additionally, extensive research and development (R&D) activities and the introduction of several innovative product variants are anticipated to fuel the power quality equipment market over the forecasted period.
Competitive Landscape with Key Player:
- 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.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
Market 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
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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