Global Power Quality Equipment Market
Overview
As per Market Research Future (MRFR), the global power
quality equipment market is estimated to reach a market valuation of USD 44.37
billion by the end of 2025. To reach this valuation, the global power quality
equipment market is also estimated to register a lucrative CAGR of 6.26% from
2019-2025. Major factors driving the ascension of the market include the
ascending demand for power across the globe, along with an upscaling need for a
seamless and uninterrupted supply of energy due to proliferating digitization.
Prominent Players:
Some distinguished players profiled in the report for
the power quality equipment market include ABB, Ltd. (Switzerland), General
Electric Company (US), Schneider Electric (France), Siemens AG (Germany),
Emerson Electric Company (US), Eaton Corporation, Plc (Ireland), Active Power,
Inc. (US), MTE Corporation (US), Smiths Group plc (U.K.), and Toshiba
Corporation (Japan).
Equipment used for the regulation of power and the
provision of uniform power quality is referred to as power quality equipment.
Power quality equipment aids in the assurance of a steady supply of voltage
within the predefined range. Power quality is addressed on the basis of several
parameters. Standard parameters like current, flicker, voltage dips, harmonics,
power, voltage, as well as transients, are all handled by the power quality
management equipment. These equipment can be used to handle many disturbances.
Power quality equipment aids at the reduction of multiple equipment usage in a
system and also supports databases with the collection, analysis, reading and
storage of data with no time lags and also measures the data required for a
short timeline.
Market Segmentation
The power quality equipment market has been studied for
several segments to attain detailed and accurate market analysis. Such
segmentation is conducted by equipment, phase, end-user, and region.
Based on equipment, the global power quality equipment market is segmented into static var compensator,
uninterruptable power supply, and power quality meters. The uninterruptable
power supply segment is estimated to hold the foremost share of the market.
Attributable factors include the ascending demand for primary protection of
critical equipment from voltage interruption and disruption, aiding
uninterrupted power supply.
By phase, the global power quality equipment market has
been segmented into single-phase and three-phase. The three-phase segment is
anticipated to hold a dominant share of the market, owing to the use of
three-phase power quality equipment in commercial and industrial facilities to
accommodate higher loads.
By end-user, the global power quality equipment market
is segmented into commercial, residential, industrial & manufacturing,
transportation, and utilities. Among these, the commercial segment is bound to
create the largest amount of demand for power quality equipment, during the
forecast period, attaining the fastest CAGR. Application of the Industry 4.0
initiative in the vehicles and electrical machinery is likely to facilitate
remote diagnostics, remote data capture, and remote maintenance. These
initiatives are bound to create a need for new data centers, communication
systems, and servers, hence, supplementing market growth for power quality
equipment.
Regional Analysis
The global power quality equipment market is segmented
into the regions of North America, Asia Pacific, the Middle East & Africa,
Latin America, and Europe. North America is likely to have a dominant hold on
the market share during the review period. North America has an old
transmission and distribution infrastructure, which has created a need for the
installation of new power quality equipment. This factor is likely to create
new growth prospects for market vendors in the region.
Industry Update
Sept 2019: TCI recently announced an important
enhancement of their passive harmonic filters. Now, these passive harmonic
filters have a Bluetooth compatibility which enables users to monitor power
quality and control using their Android device.
Get
Complete Report of Power Quality
Equipment Market Report at: https://www.marketresearchfuture.com/reports/power-quality-equipment-market-3088
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