Power Quality Equipment Market Size 2023 | Industry Growth Opportunities, Top Key Companies, Drivers and Forecast to 2028

Power Quality Equipment Market Report Overview :

According to IMARC Group's latest report, titled "Power Quality Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on the market statistics. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

A Closer Look at the Power Quality Equipment Market Size | 2023

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 Market Insight :

Power quality equipment are devices used to protect electrical equipment and ensure a continuous flow of power supply without any disturbances. They offer, regulate and maintain uniform power quality and a steady voltage supply and minimize the utility of multiple devices in a system. Some commonly used power quality equipment are isolation transformers, harmonic filters, power quality meters, surge arresters, voltage regulators, static VAR compensators (SVC), surge protection devices, digital static transfer switches, uninterruptable power supplies, synchronous condensers, solid oxide fuel cells, and power conditioning and distribution units. They are cost-effective and help enhance efficiency, avoid damage, loss of work, and data, and save energy and money. As a result, power-quality equipment is extensively utilized in commercial, residential, transportation, and manufacturing industries across the globe.

Power Quality Equipment Market Current Trends & Future Predictions :

The market is primarily driven by the expanding manufacturing and industrial sectors and the escalating demand for continuous, reliable, uninterrupted power supply and smart grid infrastructure across the globe. In addition, the increasing demand for power-quality equipment due to the surging need for high-capacity electricity systems in power data centers and servers is contributing to the market growth.

Moreover, the increasing building and construction activities and the rising product adoption in the telecommunication industry represent another major growth-inducing factor. Besides this, the market is also driven by various initiatives undertaken by the government of numerous countries to strengthen the manufacturing sector and upgrade the existing grid systems.

Furthermore, investment in research and development (R&D) activities conducted by key players, rapid industrialization, and rising urbanization are some of the other factors anticipated to create a positive market outlook in the coming years.

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Global Power Quality Equipment Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

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.

The report has segmented the market on the basis of region, 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
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/power-quality-equipment-market

If you want latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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