Power Quality Equipment Market
Power Quality Equipment Market Size, Share & Trends Analysis Report by Equipment (Uninterruptable Power Supply, Static VAR Compensator, Power Quality Meters, and Others), by Phase (Single Phase, and Three Phase), by End-User (Commercial and Residential) Forecast Period (2022-2028) Update Available - Forecast 2024-2030
Power quality equipment market is anticipated to grow at a CAGR of 7.1% during the forecast period. Key players are inclined to launch new products in the market to cater to the demand and to stay competitive in the market, which is considered as major driving factor of the market. For instance, in January 2019, ABB Ltd. launched a multi-functional power quality and energy storage solutions named PQflexC, PQdynaC, PQactiF, PQoptiM, and PQStorI, specially designed to mitigate a range of power quality problems for electrical networks. The product features include PQflexC, a variable reactive power controller; PQdynaC, an ultra-fast reactive power and unbalance controller; PQactiF, an active harmonic filter; and PQStorI, battery storage inverter with power quality functions. Further, PQoptiM controls and monitors power quality parameters. The product improves grid stability, power quality, and energy efficiency for increasingly complex grids. Moreover, the devices can be operated and controlled via cloud-connected user platforms to enable real-time access to data.
Segmental Outlook
The global power quality equipment market is segmented based on the equipment, phase, and end-user. Based on the equipment, the market is sub-segmented into the uninterruptable power supply, static var compensator, power quality meters, and others. Based on the phase, the market is divided into a single phase and three phase. Based on the end-user, the market is further sub-segmented into commercial and residential. Among these, the uninterruptable power supply sub-segment is expected to hold a considerable share in the market due to its properties such as it provides stable and reliable power to equipment in various industries and reducing production losses, and other features which attract users to adopt uninterruptable power supply over others.
Among the phase, the three-phase sub-segment is expected to hold a prominent share in the power quality equipment market over the forecast period. The growth is attributed to the rising renewable energy sector across the globe. Moreover, the rise in concern towards grid reliability, efficiency, and security in electric power utility applications further fuels the demand for three-phase-based power quality equipment. Furthermore, the key market players are also launching three phase-based products in the market to cater to the rising demand. For instance, in May 2022, Delta Electronics, Inc. launched a medium voltage power quality restorer. The product is an 11kV 3-phase power quality restorer, developed through indigenous R&D. The product is specially designed and developed for industrial loads and Indian grid code requirements. The product is also capable of providing both leading and lagging reactive power along with current harmonic compensation, load imbalance correction, and voltage regulation. Additionally, it has a minimum impact on the environment.
Regional Outlooks
The global power quality equipment market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. North America is expected to hold a considerable share in the power quality equipment market during the forecast period, owing to the rise in demand for electricity and the rapid development of manufacturing facilities in the region.
Global Power Quality Equipment Market Growth, by Region 2022-2028
The Asia-Pacific Region is Expected to Hold a Significant Share in the Global Power Quality Equipment Market
Among all regions, the Asia-Pacific region is expected to hold a significant market share during the forecast period. The major factor contributing to the growth of the market includes the rapidly-growing industrial and manufacturing sector in the region. Many countries in this region, such as India and South Korea are driving the manufacturing industry with various initiatives. In India, the 'Make In India' and 'Production Linked Incentive (PLI)' scheme has given the manufacturing industry a substantial boost in various verticals, and according to India Brand Equity Foundation, by 2025, India’s manufacturing sector has the potential to export goods worth $1 trillion.
Market Players Outlook
The major companies serving the global power quality equipment market include Active Power Inc., Ametek Inc, Eaton Corp. plc, Emerson Electric Co., Honeywell International Inc., Infinite Electronics International, Inc., Langley Holdings plc, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2021, Eaton Corp. plc acquired Tripp Lite, a supplier of power quality products and connectivity solutions including single-phase uninterruptible power supply systems, and others. Through this acquisition, Eaton Corp. plc has expanded its product offering of single-phase power quality equipment and also enhanced the breadth of edge computing and distributed IT product portfolio.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global power quality equipment market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Power Quality Equipment Market by Equipment
4.1.1. Uninterruptable Power Supply
4.1.2. Static VAR Compensator
4.1.3. Power Quality Meters
4.1.4. Others (Surge Arresters, Power Conditioning Units)
4.2. Global Power Quality Equipment Market by Phase
4.2.1. Single Phase
4.2.2. Three Phase
4.3. Global Power Quality Equipment Market by End-User
4.3.1. Commercial
4.3.2. Residential
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. ABB Ltd.
6.2. Active Power Inc.
6.3. Ametek Inc
6.4. Eaton Corp. plc
6.5. Emerson Electric Co.
6.6. Honeywell International Inc.
6.7. Infinite Electronics International, Inc.
6.8. Langley Holdings plc
6.9. LEGRAND
6.10. Leviton Manufacturing Co.
6.11. MTE Corp.
6.12. MTE Meter Test Equipment AG
6.13. Schneider Electric SE
6.14. Siemens AG
6.15. Smiths Group plc.
6.16. SOCOMEC
6.17. The General Electric Co. (GE Group)
6.18. Toshiba Corp.
1. GLOBAL POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY EQUIPMENT, 2021-2028 ($ MILLION)
2. GLOBAL UNINTERRUPTABLE POWER SUPPLY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL STATIC VAR COMPENSATOR EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL POWER QUALITY METERS EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL OTHERS POWER SUPPLY QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY PHASE, 2021-2028 ($ MILLION)
7. GLOBAL SINGLE PHASE POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL THREE PHASE POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
10. GLOBAL POWER QUALITY EQUIPMENT FOR COMMERCIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION
11. GLOBAL POWER QUALITY EQUIPMENT FOR RESIDENTIAL MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. NORTH AMERICAN POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
14. NORTH AMERICAN POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY EQUIPMENT, 2021-2028 ($ MILLION)
15. NORTH AMERICAN POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY PHASE, 2021-2028 ($ MILLION)
16. NORTH AMERICAN POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
17. EUROPEAN POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
18. EUROPEAN POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY EQUIPMENT, 2021-2028 ($ MILLION)
19. EUROPEAN POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY PHASE, 2021-2028 ($ MILLION)
20. EUROPEAN POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
21. ASIA-PACIFIC POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY EQUIPMENT, 2021-2028 ($ MILLION)
23. ASIA-PACIFIC POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY PHASE, 2021-2028 ($ MILLION)
24. ASIA-PACIFIC POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
25. REST OF THE WORLD POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
26. REST OF THE WORLD POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY EQUIPMENT, 2021-2028 ($ MILLION)
27. REST OF THE WORLD POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY PHASE, 2021-2028 ($ MILLION)
28. REST OF THE WORLD POWER QUALITY EQUIPMENT MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
1. GLOBAL POWER QUALITY EQUIPMENT MARKET SHARE BY EQUIPMENT, 2021 VS 2028 (%)
2. GLOBAL UNINTERRUPTABLE POWER SUPPLY EQUIPMENT MARKET SHARE BY REGION, 2021 VS 2028 (%)
3. GLOBAL STATIC VAR COMPENSATOR EQUIPMENT MARKET SHARE BY REGION, 2021 VS 2028 (%)
4. GLOBAL POWER QUALITY METERS EQUIPMENT MARKET SHARE BY REGION, 2021 VS 2028 (%)
5. GLOBAL OTHER POWER QUALITY EQUIPMENT MARKET SHARE BY REGION, 2021 VS 2028 (%)
6. GLOBAL POWER QUALITY EQUIPMENT MARKET SHARE BY PHASE, 2021 VS 2028 (%)
7. GLOBAL SINGLE PHASE POWER QUALITY EQUIPMENT MARKET SHARE BY REGION, 2021 VS 2028 (%)
8. GLOBAL THREE PHASE POWER QUALITY EQUIPMENT MARKET SHARE BY REGION, 2021 VS 2028 (%)
9. GLOBAL POWER QUALITY EQUIPMENT MARKET SHARE BY END-USER, 2021 VS 2028 (%)
10. GLOBAL POWER QUALITY EQUIPMENT FOR COMMERCIAL MARKET SHARE BY REGION, 2021 VS 2028 (%)
11. GLOBAL POWER QUALITY EQUIPMENT FOR RESIDENTIAL MARKET SHARE BY REGION, 2021 VS 2028 (%)
12. GLOBAL POWER QUALITY EQUIPMENT MARKET SHARE BY REGION, 2021 VS 2028 (%)
13. US POWER QUALITY EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
14. CANADA POWER QUALITY EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
15. UK POWER QUALITY EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
16. FRANCE POWER QUALITY EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
17. GERMANY POWER QUALITY EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
18. ITALY POWER QUALITY EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
19. SPAIN POWER QUALITY EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
20. REST OF EUROPE POWER QUALITY EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
21. INDIA POWER QUALITY EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
22. CHINA POWER QUALITY EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
23. JAPAN POWER QUALITY EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
24. SOUTH KOREA POWER QUALITY EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
25. REST OF ASIA-PACIFIC POWER QUALITY EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
26. REST OF THE WORLD POWER QUALITY EQUIPMENT MARKET SIZE, 2021-2028 ($ MILLION)
