Power Quality Equipment Industry
The global power quality equipment market was studied by Market Research Future (MRFR). Through the study, it was ascertained that the market will garner a projected CAGR of 5.5% during the forecast period between 2017 and 2023.
Power quality is typically based upon a number of key parameters. Some of the most common parameters include harmonics, current, flicker, voltage, power, and transients that are handled by a power quality measurement equipment. These equipment are capable of handling multiple disturbances. One of the primal factors driving the usage of power quality measurement is its characteristic of handling multiple disturbances in measurements. As it is difficult to project in advance the disturbances that may occur and what might lead to a potential fault, it is highly important to use instruments that boasts multiple disturbance detection capabilities.
Market Segmentation
The Power Quality Equipment Industry is segmented as per equipment, application, and phase.
By phase, the market comprises single phase and three phase.
By equipment, the market divides into power quality meters, UPS, static VAR compensator, and others.
By application, the market includes energy and utilities, telecommunications, automotive and industrial, electronics, and others.
Regional Analysis
The global power quality equipment market is regionally analyzed and covers the following five geographical territories: Middle East & Africa, Europe, North America, South America, and the Asia Pacific.
The North American region is projected to hold the dominating portion in the global power quality equipment market over the forecast period. The region is slated to grow in the coming years due to a number of key factors. The presence of the US is one of the key drivers, as the nation significantly contributes to the overall growth of the market. The nation is investing majorly in various protection systems in order to promote urbanized infrastructure development. The region has an age-old T&D infrastructure owing to which the region is much more prone to power outages. According to a calculation, approximately 6% of the total generated electricity is lost usually during the distribution and transmission phase from the grid over to the consumer.
The US government, in particular, is laying its focus on restructuring grid in order to tackle this issue. It has been reported that multi-billion dollar investments in data centers and urban infrastructure for the telecommunications industry have opened the power quality equipment market demand. Additionally, the growing demand from the public infrastructure coupled with various new renewable power projects are anticipated to push the growth opportunities for the market in the near future.
Competitive Landscape
The global power quality equipment market comprises a number of key players. Some of the most prominent and emerging players were noted down by MRFR in its report. This includes names like Eaton Corporation, PLC (Republic of Ireland), ABB, Ltd. (Switzerland), Active Power, Inc. (U.S.), MTE Corporation (U.S.), Emerson Electric Co. (U.S.), Schneider Electric SE (France), Toshiba Corporation (Japan), General Electric (U.S.), Siemens AG (Germany), Smiths Group plc. (U.K.) and others.
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