As per the study conducted
by Market Research Future, the global Power
Quality Equipment Market Size is likely to grow at the CAGR of around 6%. Power quality
equipment are the equipment which are used for power regulation and provide
uniform power quality. It helps to ensure a steady supply of voltage within a
defined range.
Power quality monitoring
equipment are embedded within the system itself for improved accuracy in terms
of measurement and ease of access. This equipment majorly aims at reducing the
usage in a system, wherein the entire work of measurement can be performed with
a single or a couple of units. As the system blossoms, the scalability related
to the equipment subsequently increases, thereby making it possible to analyse
various meters simultaneously.
The major driver for the
growth of the power quality equipment market in the rapid increase in the
trends for digitization in the telecommunication industry. The increase in the
demand for power is also leading to the increase in the use of power quality
equipment. The increase in demand for protection systems in the electronic
devices, the increase in the adoption of alternative sources of energy and the
standardization of power quality are some of the factors contributing to the
growth of the power quality equipment market.
Competitive Analysis
The power quality meter market consists of numerous
global, local, and regional vendors. Several regional vendors offer
high-quality products at lower prices than the global vendors. The existing
vendors will try to gain more market shares by expanding their product
portfolio and introducing innovative products. Owing to technological
advancements, the competitive environment among the players in the power
quality equipment market will intensify in the coming years.
Leading Players
The global power quality equipment market comprises a number of key
players. Some of the most prominent and emerging players were noted down by
MRFR in its report. This includes names like Eaton Corporation, PLC (Republic
of Ireland), ABB, Ltd. (Switzerland), Active Power, Inc. (U.S.), MTE
Corporation (U.S.), Emerson Electric Co. (U.S.), Schneider Electric SE
(France), Toshiba Corporation (Japan), General Electric (U.S.), Siemens AG
(Germany), Smiths Group plc. (U.K.) and others.
Global Power Quality Equipment
Global Market Segmentation
The scope of global power
quality equipment market is segmented into three major segments which are
explained below:
By Equipment
·
UPS
·
Static VAR Compensator
·
Power Quality Meters
·
Others
By Phase
·
Single Phase
·
Three Phase
By Application
·
Telecommunications
·
Energy and Utilities
·
Automotive
·
Industrial
·
Electronics
·
Others
Regional Analysis
The global power quality
equipment market is regionally analyzed and covers the following five
geographical territories: Middle East & Africa, Europe, North America,
South America, and the Asia Pacific.
The North American region is
projected to hold the dominating portion in the global power quality equipment
market over the forecast period. The region is slated to grow in the coming
years due to a number of key factors. The presence of the US is one of the key
drivers, as the nation significantly contributes to the overall growth of the
market.
The US government, in
particular, is laying its focus on restructuring grid in order to tackle this
issue. It has been reported that multi-billio dollar investments in data
centers and urban infrastructure for the telecommunications industry have
opened the power quality equipment market demand. Additionally, the growing
demand from the public infrastructure coupled with various new renewable power
projects are anticipated to push the growth opportunities for the market in the
near future.
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