PUBLISHER: IMARC | PRODUCT CODE: 1468207
PUBLISHER: IMARC | PRODUCT CODE: 1468207
The global power quality equipment market size reached US$ 17.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 29.0 Billion by 2032, exhibiting a growth rate (CAGR) of 5.6% during 2024-2032.
Power quality equipment is a device, which is extensively deployed in the residential and commercial sector for regulating, providing, and maintaining uniform power quality. It is further utilized to ensure a steady voltage supply and reduce the utility of multiple devices in a system. Power quality equipment offers various benefits, such as eliminating premature aging of equipment, enhanced efficiency avoiding damages, and avoiding loss of data. Besides this, some of the most commonly used power quality equipment include harmonic filters, isolation transformers, power quality meters and compensators.
The widespread adoption of power quality equipment in the industrial and manufacturing sectors due to the continued growth of transmission, distribution, and renewable integration is one of the key factors primarily driving the global power quality equipment market toward growth. Furthermore, the increasing demand for uninterrupted power supply, along with the requirement for smart grid infrastructure for ensuring the power quality is positively influencing the market growth. In line with this, the escalating utilization of power quality equipment due to the need for high-capacity electricity systems in power data centers and servers is propelling is acting as another growth-inducing factor. The market is also driven by the growing investments in the manufacturing and industrial sectors for developing new advanced technologies. Other factors, numerous initiatives undertaken by the government of various countries for strengthening the manufacturing sector and the increasing investments in upgrading the existing grid systems, along with extensive research and development (R&D) activities, are stimulating market growth across the globe. The introduction of innovative product variants is also creating a positive outlook for the market further.
IMARC Group provides an analysis of the key trends in each sub-segment of the global power quality equipment market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on equipment, phase and end user.
Uninterruptable Power Supply (UPS)
Harmonic Filters
Static VAR Compensator
Power Quality Meters
Others
Single Phase
Three Phase
Industrial and Manufacturing
Commercial
Others
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.