Power Quality Equipment Market Size, Share, Industry Trends 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Power Quality Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global power quality equipment market growth, share, size and  forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Power Quality Equipment Market?

The global power quality equipment market size reached US$ 16.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 24.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028.

What is Power Quality Equipment?

Power quality equipment refers to devices and systems designed to monitor, control, and improve the quality of electrical power supplied to various electrical systems and equipment. It helps ensure that the electrical power meets specific standards and requirements, minimizing disturbances, anomalies, and issues that can affect the performance and reliability of electrical devices. It also assists in eliminating premature aging of equipment, enhancing efficiency avoiding damages, and preventing loss of data.    

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What are the growth prospects and trends in the power quality equipment industry?

The increasing adoption of power quality equipment in the industrial and manufacturing sectors on account of the continued growth of transmission, distribution, and renewable integration represents one of the primary factors strengthening the market growth around the world.

Moreover, the rising demand for uninterrupted power supply and the growing need for smart grid infrastructure to ensure the power quality is influencing the market positively. In addition, the increasing investments by private and public firms to improve the existing internet infrastructure due to the rising need for high speed internet connectivity and rapid digitization is catalyzing the demand for power quality equipment worldwide.

Apart from this, the growing use of power quality equipment on account of the increasing need for high capacity electricity systems in power data centers and servers is creating a positive outlook for the market.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Equipment:

  • Uninterruptable Power Supply (UPS)
  • Harmonic Filters
  • Static VAR Compensator
  • Power Quality Meters
  • Others

Breakup by Phase:

  • Single Phase
  • Three Phase

Breakup by End User:

  • Industrial and Manufacturing
  • Commercial
  • Others

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

ABB Ltd., Cordyne Inc., Cyber Power Systems (USA) Inc, Delta Electronics Inc., Eaton Corporation PLC, EMCO Limited, Fluke Corporation (Fortive Corporation), General Electric Company, Hubbell Incorporated, Kyoritsu Electrical Instruments Works Ltd., National Instruments Corporation and Siemens Aktiengesellschaft.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Vikas Chauhan

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