Global Power Quality Equipment Market 2020: Historical Analysis 2025
Posted by Anvi on March 26th, 2020
As per the study conducted by Market Research Future, the Global Power Quality Equipment Market is likely to grow at the CAGR of around 6%.Power quality equipment are the equipment which are used for power regulation and provide uniform power quality. It helps to ensure a steady supply of voltage within a defined range.
Power quality monitoring equipment are embedded within the system itself for improved accuracy in terms of measurement and ease of access. This equipment majorly aims at reducing the usage in a system, wherein the entire work of measurement can be performed with a single or a couple of units. As the system blossoms, the scalability related to the equipment subsequently increases, thereby making it possible to analyse various meters simultaneously.
The major driver for the growth of the power quality equipment market in the rapid increase in the trends for digitization in the telecommunication industry. The increase in the demand for power is also leading to the increase in the use of power quality equipment. The increase in demand for protection systems in the electronic devices, the increase in the adoption of alternative sources of energy and the standardization of power quality are some of the factors contributing to the growth of the power quality equipment market.
The power quality meter market consists of numerous global, local, and regional vendors. Several regional vendors offer high-quality products at lower prices than the global vendors. The existing vendors will try to gain more market shares by expanding their product portfolio and introducing innovative products. Owing to technological advancements, the competitive environment among the players in the power quality equipment market will intensify in the coming years.
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.
Global Power Quality Equipment Global Market Segmentation
The scope of global power quality equipment market is segmented into three major segments which are explained below:
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 US government, in particular, is laying its focus on restructuring grid in order to tackle this issue. It has been reported that multi-billio 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.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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About the AuthorAnvi
Joined: October 25th, 2019
Articles Posted: 461
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