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Power Quality Equipment Market Report 2023-2032: Share Analysis, Key Trends, Size, Demand And Forecast | Eaton, ABB, Siemens, Schneider Electric, General Electric
Power Quality Equipment Market
The Business Research Company's Power Quality Equipment Global Market Report 2023 identifies increase in the demand for power as the major driver for the Power Quality Equipment market's growth in the forecast period. Demand for power refers to the maximum amount of electrical power that is being used at a given time. Globally, power demand is increasing due to a sudden surge in various industrial activities and advances in both developing and developed countries.
The global power quality equipment market size grew from $23.35 billion in 2022 to $24.94 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The power quality equipment market size is expected to grow to $32.58 billion in 2027 at a CAGR of 6.9%.
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Major competitors in the Power Quality Equipment market are Eaton, ABB, Siemens, Schneider Electric, General Electric.
A key trend in the Power Quality Equipment market includes technological innovation. Major companies operating in the power quality equipment sector are focused on developing new technological solutions such as high-speed transient monitoring to meet the end-customer demands and strengthen their market position. For instance, in November 2020 Schneider Electric releases PowerLogic ION9000T. This ION9000T adds high-speed transient monitoring to the high-performance power quality meter, helping to avoid outages, equipment damage, failures, and interruption of critical operations.
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The Power Quality Equipment market is segmented -
1. By Equipment: Surge Arresters, Surge Protection Devices, Harmonic Filters, Power Conditioning Units, Power Distribution Unit, Uninterruptable Power Supply, Synchronous Condenser, Voltage Regulator, Digital Static Transfer Switch, Static VAR Compensator, Solid Oxide Fuel Cells, Isolation Transformers, Power Quality Meters, Other Equipments.
2. By Phase: Single Phase, Three Phase
3. By Application: Industrial & Manufacturing, Commercial, Residential, Transportation, Utilities
4. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Power Quality Equipment market.
The Business Research Company's "Global Power Quality Equipment Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Power Quality Equipment Market Include:
1. Executive Summary
2. Power Quality Equipment Market Characteristics
3. Power Quality Equipment Market Trends And Strategies
4. Power Quality Equipment Market - Macro Economic Scenario
5. Power Quality Equipment Market Size And Growth
……
26. Africa Power Quality Equipment Market
27. Power Quality Equipment Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Power Quality Equipment Market
29. Power Quality Equipment Market Future Outlook and Potential Analysis
30. Appendix
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