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Power Quality Equipment Market Insights | Key Players : ABB, Ltd. , Siemens AG, Schneider Electric SE, Emerson Electric Company, Eaton Corporation Plc, and General electric Company

06-24-2019 01:57 PM CET | Energy & Environment

Press release from: MarketsandMarkets™

Power Quality Equipment Market Insights | Key Players : ABB, Ltd.

According to recent research "Power Quality Equipment Market by Equipment (UPS, Harmonic Filters, Surge Protection Devices, Power Conditioning Unit, Static VAR compensator, and Power Quality Meters), Phase (Single and Three Phase), End-User, and Region - Global Forecast to 2022 ", The power quality equipment market is expected to grow at a CAGR of 6.56%, from 2017 to 2022, to reach a market size of USD 40.85 billion by 2022. Non-uniform power quality and network reliability issues, rise in alternative energy programs, and power quality standardization are the major drivers of the power quality equipment market.

Browse 71 market data tables and 77 figures spread through 187 pages and in-depth TOC on "Power Quality Equipment Market"

https://www.marketsandmarkets.com/Market-Reports/power-quality-equipment-market-110225967.html

The power quality equipment market is dominated by a few major players that have a wide regional presence and are established brand names. The leading players in the power quality equipment market include ABB, Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), Emerson Electric Company (U.S.), Eaton Corporation Plc (Ireland), and General electric Company (U.S.). These companies have developed new products and implemented advanced production technology to bolster their product portfolios.

The report segments the power quality equipment market, by end–user, into industrial and manufacturing, utilities, transportation, residential, and commercial. The commercial segment is expected to grow at the fastest rate during the forecast period. Information technology initiative is being applied to vehicles and electrical machinery in order to enable remote diagnostics, remote maintenance, and remote data capture. This initiative has increased the need for datacenters, servers, and communication systems. As the demand for electronic equipment grows, the need for protection system also increases for continuous functioning of such critical equipment. Such initiatives are driving the market for power quality equipment in the commercial segment, which is expected to create new revenue pockets for the power quality equipment market during the forecast period.

With respect to the equipment segment, Solid Oxide Fuel Cells (SOFC) are expected to constitute the fastest growing market from 2017 to 2022. The rapidly growing demand for the SOFC market is driven by its ability to be used for various applications, fuel flexibility, and ability to utilize biomass efficiently. SOFCs can be used for developing portable, transportation, and stationary applications. For transportation, they are used to develop Auxiliary Power Units (APU); and military applications include portable batteries and other energy storage applications. They are also flexible when it comes to the type of fuel required as they can run on variety of fuel including natural gas, gasoline, diesel, and hydrogen. These qualities of SOFC have resulted, various government institutions, companies, and universities to conduct research in SOFC and to facilitate its rapid commercialization.

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The power quality equipment market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period. A rise in investments in smart grid technologies and smart cities that include distribution grid automation, smart meters, and demand response systems in countries such as Japan, South Korea, and Australia would create opportunities for the power quality equipment market.

Increase in the number of data centers along with surge in IT hubs and commercial institutions such as banking facilities, healthcare units, and investments in distribution infrastructure is expected to drive the power quality equipment market in the region.

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: newsletter@marketsandmarkets.com

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets

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