Power Quality Equipment Market Research Report - Global Forecast till 2030

Power Quality Equipment Market Research Report: Information by Equipment (Uninterruptable Power Supply, Static VAR Compensator, Power Quality Meters, and Others), Phase (Single Phase and Three Phase), End User (Industrial & Manufacturing, Commercial, Residential, Transportation, and Utilities), and Region (North America, Europe, Asia-Pacific, the Middle East & Africa, and South America)—Forecast till 2030

ID: MRFR/E&P/2234-HCR | February 2021 | Region: Global | 111 pages         

Power Quality Equipment Market

Power Quality Equipment Market share is projected to reach USD 44.37 billion by 2025, with 6.26% CAGR from 2019 to 2025.

Segmentation

By Equipment Uninterruptable Power Supply Static VAR Compensator Power Quality Meters Others
By Phase Single Phase Three Phase
By End User Industrial & Manufacturing Commercial Residential Transportation Utilities

Key Players

  • ABB Ltd. (Switzerland)
  • General Electric Company (US)
  • Schneider Electric (France)
  • Siemens AG (Germany)
  • Emerson Electric Company (US)
  • Eaton Corporation Plc (Ireland)
  • Active Power Inc. (US)
  • MTE Corporation (US)
  • Smiths Group plc. (UK)
  • Toshiba Corporation (Japan)

Drivers

  • Continuous upgradation of aged grid infrastructure
  • Rapid urbanization and industrialization
  • Increase in the demand for power
  • Rapid increase in the trends for digitization in the telecommunication industry
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It is estimated that by the year 2025 the power quality equipment market would reach USD 44.37 billion, growing at a CAGR of 6.26% over the forecast period of 2019 to 2025.


Power Quality Equipment Market Scenario


Power quality equipment refers to that equipment that is primarily used for providing uniform power quality along with regulating power. It ensures a supply of uninterrupted voltage within a defined range. The power quality is addressed and it is based on several parameters such as the flicker current, voltage dips, harmonics, voltage,  transients, etc.


The power quality equipment work with an aim to reduce the multiple usages of equipment in the system. It tends to support the database where the analysis and collection of the data can be read as well as stored with no lags in time and also it efficiently analyses the data required for the short period. The intended audience of this sector includes the power quality equipment dealer and manufacturer, end-users, distributors and supplier companies, investment bankers and consultants, etc.


Additionally, the global power quality equipment market is projected to grow at a high rate during the forecast period due to the rapid increase in the trends for digitization in the telecommunication industry. According to the World Economic Forum 2017, the Digital Transformation Initiative (DTI) project launched by the World Economic Forum for the telecommunications industry for new opportunities and themes arising from latest developments in the telecommunications industry enabling the fourth industrial revolution. Continuous upgradation of aged grid infrastructure and rapid urbanization and industrialization would create growth opportunities for the global power quality equipment market. This is because industrialization leads to an increase in the demand for power quality equipment in various utilities to ensure regular uninterrupted power supply. However, the high investment cost for installation of power quality equipment, and lack of awareness about the market would hinder the market growth.


Power Quality Equipment Market Key Players


The key players operating in the global power quality equipment market are ABB, Ltd. (Switzerland), General Electric Company (US), Schneider Electric (France), Siemens AG (Germany), Emerson Electric Company (US), Eaton Corporation, Plc (Ireland), Active Power Inc. (US), MTE Corporation (US), Smiths Group plc. (UK), and Toshiba Corporation (Japan).


Industry News



  • In January 2021, Eaton a company in the power quality equipment market acquired  Tripp Lite, which is a supplier of power quality products and connectivity solutions to boost the breadth of its edge computing and distributed IT product portfolio and also to expand its single-phase UPS business. Similarly, in March 2021, Siemens acquired a 99.2% stake in C &S Electric India. It was done primarily to meet the rising demand for the low voltage power distribution across the country.

  • In 2021 February, ABB signed a contract with the Egyptian Electricity Transmission Company which is a state-owned enterprise. The main objective of this contract was to enhance the power quality and also to expand the transmission capacity in the strategic Owainat development area situated in southwestern Egypt.


Key players in the Power Quality Equipment market such as ABB, Ltd., General Electric Company, Schneider Electric, and Siemens AG are actively focusing on new product launch and expansion to supply power quality equipment, globally. Moreover, in 2018, Schneider Electric announced the world’s most advanced, most accurate power quality and energy meter, the PowerLogic ION9000 series. This newest addition to the PowerLogic portfolio of power and energy meters provides the most complete, most innovative power analysis solution for critical power applications.


Power Quality Equipment Market Segments


The global power quality equipment market has been segmented based on equipment, phase, end user, and region.


Based on equipment, the global market has been segmented into uninterruptable power supply, static var compensator, power quality meters, and others. The uninterruptable power supply segment is projected to dominate the market. The growing demand for primary protection of critical equipment from voltage interruption is driving the market for uninterruptable power supply.


Based on phase, the global power quality equipment market has been divided into single-phase and three-phase. The three-phase segment is expected to dominate the market. This is because it is used in commercial and industrial facilities to accommodate higher loads, and it delivers power at a steady & constant rate.


Based on end user, the global market is segmented into industrial & manufacturing, commercial, residential, transportation, and utilities. The commercial segment is expected to grow at the fastest rate during the forecast period. The Industry 4.0 initiative is being applied to vehicles and electrical machinery to facilitate remote diagnostics, remote maintenance, and remote data capture. Such initiatives have increased the need for data centers, servers, and communication systems. With the increasing use of electronic equipment, the demand for protection systems for such critical equipment has been increasing. This is driving the market for power quality equipment in the commercial segment 


Power quality equipment are equipment, which are used for regulating power and providing uniform power quality. It helps to ensure a steady supply of voltage within a defined range. Power quality is addressed, typically based on several parameters. Standard parameters such as flicker, current, harmonics, voltage dips, power, voltage, and transients are handled by power quality measurement equipment. These equipment can handle multiple disturbances. Power quality equipment primarily aims to reduce multiple equipment usage in a system. It also supports databases where collection and analysis of the data can be read and stored with no time lags and also measure and analyze data required for a short (monthly basis) period.


Power Quality Equipment Market Regional Analysis


On the basis of region, the global power quality equipment market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.


North America is expected to dominate the power quality equipment market during the forecast period. The region has a very old transmission and distribution infrastructure, which creates a need for installing power quality equipment. The government in the region is majorly focusing on restructuring the infrastructure for overcoming the issue of the loss of electricity during transmission and distribution.


Intended Audience



  • Power quality equipment manufacturers and dealers

  • Consulting companies in the energy and power sector

  • Process industries and power and energy associations

  • Distributor & supplier companies

  • End users

  • Consultants and investment bankers

  • Government and independent regulatory authorities



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2025: USD 44.37 Billion
  • 2030 : Significant Value
  •   CAGR   6.26% CAGR (2022-2030)
      Base Year   2021
      Forecast Period   2022-2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   Equipment, Phase and End User
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   ABB, Ltd. (Switzerland), General Electric Company (US), Schneider Electric (France), Siemens AG (Germany), Emerson Electric Company (US), Eaton Corporation, Plc (Ireland), Active Power, Inc. (US), MTE Corporation (US), Smiths Group plc. (UK), and Toshiba Corporation (Japan)
      Key Market Opportunities

  • Continuous upgradation of aged grid infrastructure
  • Rapid urbanization and industrialization
  •   Key Market Drivers

  • Increase in the demand for power
  • Rapid increase in the trends for digitization in the telecommunication industry


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    Frequently Asked Questions (FAQ) :

    The market can grow at a decent rate of 6.26% between 2019 and 2025.

    The market shows signs of attaining a valuation of USD 44.37 billion by 2025.

    The prominent vendors in the global market are Emerson Electric Company (US), Schneider Electric (France), Siemens AG (Germany), Eaton Corporation, Plc (Ireland), MTE Corporation (US), ABB, Ltd. (Switzerland), General Electric Company (US), Smiths Group plc. (UK), Active Power, Inc. (US), Toshiba Corporation (Japan), to mention a few.

    Asia Pacific, Europe, the Middle East & Africa, South America and North America, are the regions among which the global market estimated to gain traction in the coming years.

    The equipment-wise segments in the market include static var compensator, uninterruptable power supply, power quality meters, and others.