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Power Quality Equipment Market Poised To Touch $40.85 Billion By 2022: Ups, Harmonic Filters, Surge
According to the market report published by MarketsandMarkets™"Power Quality Equipment Market by Equipment (UPS, Harmonic Filters, Surge Protection Devices, Power Conditioning Unit, Static VAR compensator, and Power Quality Meters), Phase (Single and Three Phase), End-User, and Region - Global Forecast to 2022", The power quality equipment market is expected to grow from an estimated USD 29.74 Billion in 2017 to USD 40.85 Billion by 2022, registering a CAGR of 6.56%, from 2017 to 2022.
The global market is set to witness a significant growth due to the growing demand for protection systems for electronic devices, non-uniform power quality and network reliability issues, rise in alternative energy programs, and power quality standardization.
Browse and in-depth TOC on “Power Quality Equipment Market”
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The industrial and manufacturing segment is expected to hold the largest share of the power quality equipment market, by end-user, during the forecast period
The industrial and manufacturing segment led the power quality market in 2016, and is projected to dominate the market during the forecast period. The Industry 4.0 initiative is being applied to vehicles and electrical machinery in order to facilitate remote diagnostics, remote maintenance, and remote data capture. Such initiatives have increased the need for data centers, servers, and communication systems. With the increasing use of electronic equipment, the need for protection systems for such critical equipment has been increasing. This is driving the market for power quality equipment in the industrial and manufacturing segment, which is expected to create new revenue pockets for the power quality equipment market during the forecast period.
Solid oxide fuel cells to be the fastest growing segment in the power quality equipment market
With respect to the equipment segment, solid oxide fuel cells are expected to constitute the fastest growing market from 2017 to 2022. These fuel cells generate electricity using a hard, ceramic compound of metal as an electrolyte, like calcium or zirconium oxides. The generated electricity can compensate for the dip in the quality of power flowing through the electrical network. The generated electricity from these fuel cells can inject power into the electrical circuit to maintain the power quality parameters when the electrical load reduces in these circuits.
The target audience of this report includes:
• Power quality equipment manufacturers, dealers, and suppliers
• Consulting companies in the energy and power sector
• Government and research organizations
• Investors and shareholders
• Environmental research institutes
• Process industries and power and energy associations
• Manufacturing industry
• Energy efficiency consultants
North America: The leading market for power quality equipment
The North American market is expected to dominate the global power quality equipment market. The U.S. is investing in various protection systems for urbanized infrastructure development. The North American region has age old T&D infrastructure, due to which the region is more prone to power outages. According to an estimate, approximately 6% of the total electricity generated is usually lost during transmission and distribution from the grid to the consumer. The U.S. government is focusing on grid restructuring to overcome this issue. Multi-billion-dollar investments in data centers and urban infrastructure for the telecom industry have paved a way for the demand for power quality equipment to grow phenomenally. The increasing demand from the public infrastructure along with new renewable power projects are expected to create growth opportunities for the power quality equipment market in the region.
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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the power quality equipment market. These players include ABB, Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), Emerson Electric Company (U.S.), Eaton Corporation Plc (Ireland), and General electric Company (U.S.). The leading players are trying to make inroads in the markets in developed economies and are adopting various strategies to increase their market shares.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
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