Press release
Power Quality Equipment Market: Stellar Growth, Key Players, Emerging Trends, and Opportunities for 2024-2029
Power Quality Equipment Market
What Is The Projected Market Size Of The Global Power Quality Equipment Market And Its Growth Rate?
The power quality equipment market is primed for a robust growth in the coming years, underpinned by an amalgamation of factors such as grid modernization, the advent of advanced technologies, and increased demand for stable power supply:
• 2024 Market Size: $26.2 billion
• 2025 Market Size: $27.61 billion (5.4% CAGR)
• 2029 Market Size: $34.65 billion (5.8% CAGR)
What Is Driving The Growth In The Power Quality Equipment Market?
A major catalyst propelling the growth of the market is the increasing government investments in grid modernization projects. These projects aim to overhaul the electricity infrastructure to handle modern technologies, new-gen electricity generation, and integration of renewable energy sources. As countries set their sights on enhancing their energy infrastructure and ensuring a more stable and reliable power supply, the demand for power quality equipment, such as voltage regulators, surge protectors, and uninterruptible power supplies, is spiking.
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Who Are the Key Players Driving Power Quality Equipment Market Growth?
Major companies operating in the power quality equipment market include:
• Eaton Corporation plc
• ABB Ltd.
• Siemens AG
• Schneider Electric SE
• General Electric Company
• Toshiba Corporation
• Emerson Electric Co.
• Legrand SA
• Honeywell International Inc.
• AMETEK Inc.
• Piller Group GmbH
• Acumentrics Corporation
• Leviton Manufacturing Co. Inc.
• MTE Corporation
• Socomec India Private Limited
• Infinite Electronics Inc.
• Hitachi ABB Power Grids Ltd.
• Active Power Inc.
• Smiths Group plc
• Powervar Inc.
What Are The Key Trends In The Power Quality Equipment Market?
Notable trends shaping the marketplace are:
• Multi-faceted role of power quality analytics and predictive maintenance
• Stringent regulatory compliance norms for equipment safety
• Advent of smart and adaptive power quality solutions
• Integration of energy storage for grid stabilization
• Collaboration between power quality and cybersecurity realms
What Are The Segments Of The Global Power Quality Equipment Market?
In the global power quality equipment market, segments cover various aspects such as:
1) By Equipment: Surge Arresters, Surge Protection Devices, Harmonic Filters, Power Conditioning Units, etc.
2) By Phase: Single Phase, Three Phase
3) By Application: Industrial & Manufacturing, Commercial, Residential, Transportation, Utilities
Which Region Leads The Power Quality Equipment Market?
Asia-Pacific has been the largest and will continue to be the fastest-growing region in the power quality equipment market.
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What Is Covered In The Power Quality Equipment Market Global Market Report?
- Market Size Analysis: Analyze the Power Quality Equipment Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Power Quality Equipment Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Power Quality Equipment Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Power Quality Equipment Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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