Power Quality Equipment Market Size Worth US$ 45,131.9 Million By 2028 | CAGR 6.8%: The Insight Partners

Growing Adoption of Renewable Energy Sources to Provide Growth Opportunities to Power Quality Equipment Market during 2021–2028

NEW YORK, UNITED STATE, November 23, 2021 /EINPresswire.com/ -- According to our latest market study on “Power quality equipment Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Equipment, Phase, and End User,” the market is expected to reach US$ 45,131.9 million by 2028 from US$ 28,499.6 million in 2021; it is estimated to grow at a CAGR of 6.8% from 2021 to 2028.

Power Quality Equipment Market :Strategic Insights

Report Coverage: Details
Market Size Value in: US$ 28,499.6 Million in 2021
Market Size Value by: US$ 45,131.9 Million by 2028
Growth rate: CAGR of 6.8% from 2021-2028
Forecast Period: 2021-2028
Base Year: 2021
No. of Pages: 165
No. Tables: 88
No. of Charts & Figures: 82
Historical data available: Yes
Segments covered: Equipment; Phase; End-Users, and Geography
Regional scope: North America; Europe; Asia Pacific; Latin America; MEA
Country scope: US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Telecommunications infrastructure has developed rapidly in the recent years. This new digital form of telecommunication infrastructure is adding more advanced telecommunication systems such as data centers, servers, and internet-related infrastructure as well as equipment to efficiently cater to voice and data transmission services. However, the modern telecommunication systems are more vulnerable to issues with power as the electronic components used for data transmission are more susceptible to sags/dips, swells, transients, and harmonics. A telecom equipment can trip on the occurrence of power fluctuations caused by abrupt increase in loads (voltage sags and swells) due to short circuits, loose connections or faults, and motors starting.

The power quality equipment market is segmented on the bases of equipment, phase, end user, and geography. Based on equipment, the market is segmented into uninterruptable power supply (UPS), harmonic filters, static VAR compensators, power quality meters, and others. Power quality equipment are widely used in power grid systems to ensure continuous and stable power supply. Based on phase, the power quality equipment market is segmented into single phase and three phases. As per the specific requirement, power quality equipment is designed and manufactured for single phase and three phases.  Based on end users, the power quality equipment market is segmented into industrial and manufacturing, commercial, and others. 

Impact of COVID-19 Pandemic on Power Quality Equipment Market

The COVID-19 outbreak has continued its adverse effects in several countries in 2021 as well. Business shutdowns or limited business operations, and lockdowns and travel limitations have hampered the production and supply chain of power quality equipment, leading to decline in the adoption of these equipment, including uninterrupted power supply (UPS) systems, static VAR compensators, harmonic filters, power quality meters, power conditioners, and power quality analyzers. However, owing to the resumption of trading activities from the last quarter of 2020, the market players are expecting steady growth in the demand in the coming quarters. Manufacturing, commercial, metals, cement, power generation, education, entertainment, electronics, energy, aviation, and transportation are among the key industries affected by the pandemic.

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Power quality equipment involves all types of equipment that help in ensuring stable, steady, and continuous power supply to various applications. Uninterrupted power supply system (UPS) system, power conditioners, reactors, energy meters, inductors, power meters, surge protective devices, harmonic correction unit, line voltage regulators, harmonic filters, static VAR compensators, frequency converter are a few power quality equipment widely used across the globe. UPS held the largest revenue share among all the indicated equipment in 2020.

Power Quality Equipment Market: Competitive Landscape and Key Developments

Acumentrics, Emerson Electric Co., AMETEK Inc., Eaton, General Electric Company, Schneider Electric SE, Siemens AG, Toshiba Energy Systems & Solutions Corporation, Hitachi ABB Power Grids Group, and Piller Group GmbH are among the key players in the global Power Quality Equipment market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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In June 2021, Eaton completed the acquisition of 50% stakes in Jiangsu YiNeng Electric’s Busway business in China. This agreement would help Eaton in expanding its power distribution portfolio in the APAC market.
In May 2021, Acumentrics introduced SmartPDU, a new power distribution system that offers an unprecedented combination of convenience, flexibility, secure control, and system data, which ensures the optimal operation of shipboard electronic systems, along enabling them to accommodate changes and upgrades.

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