Power Quality Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Power Quality Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global power quality equipment market size reached US$ 16.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 24.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028.

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:
IMARC Group 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 2023-2028. Our 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 2022?
2. What is the expected growth rate of the global power quality equipment market during 2023-2028?
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?