Key Trends Reshaping the Power Quality Equipment Market: Strategic Collaborations Fuel The Market Industry Transformation

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Power Quality Equipment Market Size Growth Forecast: What to Expect by 2025?
The market size for power quality equipment has seen consistent increases over recent years. It's predicted to rise from a figure of $26.2 billion in 2024, to $27.15 billion in 2025, reflecting a compound annual growth rate (CAGR) of 3.6%. This expansion during the past period is linked to the growth in the industrial and manufacturing sectors, an increasing use of sensitive electronic equipment, a need for a stable and pure power supply, a rise in grid disturbances and voltage fluctuations, and the establishment of regulatory standards concerning power quality.

How Will the Power Quality Equipment Market Size Evolve and Grow by 2029?
In the upcoming years, the power quality equipment market is anticipated to experience a robust increase, going up to $33.47 billion by 2029 at a compound annual growth rate of 5.4%. The surge during the forecast period is linked to the personalization of power quality solutions for different industries, incorporation of IoT and live monitoring, sustainable and eco-friendly power quality tools, upshot in renewable energy integration, and heightened usage in the infrastructure for charging electric vehicles. Some significant trends during the projection period include the use of analytics in power quality and predictive maintenance, adherence to regulations related to power quality equipment safety, the development of smart and adaptive solutions for power quality, integration of energy storage for grid stabilization, and the amalgamation of power quality and cybersecurity.

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What Drivers Are Propelling the Growth of Power Quality Equipment Market Forward?
The expansion of the power quality equipment market is primarily being propelled by growing governmental funding in the grid modernization project. This project pertains to the upgrading of the electrical grid to increase its security, efficiency, and adaptability to handle novel technologies and forms of electricity generation and distribution, and to incorporate renewable energy sources. The surge in demand for power quality equipment, including voltage regulators, surge protectors, and uninterruptible power supplies is a reflection of countries' efforts to bolster their energy infrastructure and secure a more dependable power supply. These funds are instrumental in tackling power quality concerns, minimizing downtime, and enhancing grid efficiency, thus acting as a significant growth promoter in the power quality equipment market. For instance, the Grid Deployment Office, a US entity with a mission to deliver electricity to every corner by maintaining and investing in essential generation facilities, announced a whopping $10.5 billion investment into the Grid Resilience and Innovation Partnerships (GRIP) Program in October 2023. This move, taken under the Bipartisan Infrastructure Law, is aimed at enhancing grid adaptability and fortifying the power system's resilience, particularly against increasing threats of extreme weather conditions and climate change induced issues. Hence, the escalating government investments in the modernization of the grid are set to fuel the demand for power-quality equipment.

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What Trends Will Shape the Power Quality Equipment Market Through 2029 and Beyond?
Leading corporations in the power quality equipment industry are prioritizing strategic collaborations to address customer needs and consolidate their market stance. This involves firms exploiting each other's advantages and resources to create a mutually beneficial outcome. As an example, in June 2023, Deere & Company (John Deere), an American manufacturer of robust and high-powered turf machinery, entered into a strategic alliance with EGO, a domestic battery-powered outdoor power tool company, and Chervon, a Chinese manufacturer of outdoor power tools and equipment. The objective of this partnership between Deere & Company (John Deere), EGO, and Chervon is to furnish homeowners with a variety of EGO battery-powered lawn care products via John Deere's dealer network. This venture fuses John Deere's commanding market position with EGO's resourceful and environmentally-conscious solutions. The partnership allows customers to access EGO-branded battery products through John Deere's dealer network, fostering growth in the power electronics industry. As part of this agreement, the brands will offer EGO's battery-operated lawn care solutions to households.

What Are the Key Segments in the Power Quality Equipment Market?
The power quality equipment market covered in this report 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 Equipment
2) By Phase: Single Phase, Three Phase
3) By Application: Industrial & Manufacturing, Commercial, Residential, Transportation, Utilities

Subsegments:
1) By Surge Arresters: Station Class Surge Arresters, Distribution Class Surge Arresters
2) By Surge Protection Devices: Type 1 Surge Protection Devices (SPDs), Type 2 SPDs, Type 3 SPDs
3) By Harmonic Filters: Active Harmonic Filters, Passive Harmonic Filters
4) By Power Conditioning Units: Voltage Regulators, Frequency Converters
5) By Power Distribution Unit (PDU): Basic PDUs, Metered PDUs, Switched PDUs
6) By Uninterruptable Power Supply (UPS): Online UPS, Offline UPS, Line Interactive UPS
7 By Synchronous Condenser: Fixed-Speed Synchronous Condensers, Variable-Speed Synchronous Condensers
8) By Voltage Regulator: Automatic Voltage Regulators (AVR), Ferroresonant Voltage Regulators
9) By Digital Static Transfer Switch (STS): Single-Phase STS, Three-Phase STS
10) By Other Equipment: Voltage Stabilizers, Capacitor Banks, Reactive Power Compensators

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Who Are the Key Players Shaping the Power Quality Equipment Market's Competitive Landscape?
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., S&C Electric Company, Delta Electronics Inc., Mitsubishi Electric Corporation, Rockwell Automation Inc., Fuji Electric Co. Ltd., SolaHD, Eaton Corporation, Phoenix Contact GmbH & Co. KG, Panduit Corporation, Littelfuse Inc.

What Geographic Markets Are Powering Growth in the Power Quality Equipment Market?
Asia-Pacific was the largest region in the power quality equipment market in 2024 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the power quality equipment market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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