Power Quality Equipment Market - Global Power Quality Equipment Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 -

Description

Power Quality Equipment Market Poised for Remarkable Growth.

The global power quality equipment market is on an upward trajectory, with a forecasted size of US$48.3 billion by 2030. This remarkable growth is anticipated to be driven by several key factors that are shaping the industry landscape. In this comprehensive analysis, we delve into the market's past, present, and future, exploring the challenges, trends, opportunities, and key players that define this dynamic sector.

Evolution of Power Quality Equipment

The global power quality equipment market has evolved significantly in recent years, with notable developments poised to shape its future. The market is currently experiencing substantial expansion, driven by a confluence of factors.

One of the most prominent developments is the widespread adoption of innovative technologies such as smart meters, digital relays, and advanced power quality analyzers. These technologies enable better monitoring and management of power quality issues, addressing the demand for more precise control.

With the world's increasing emphasis on renewable energy sources, such as solar and wind, power quality equipment has adapted to tackle the challenges posed by intermittent energy generation. The market has witnessed the development of solutions designed to stabilize power quality in grids with high renewable energy penetration, ensuring a consistent supply of electricity.

Global Expansion and Emerging Markets

This expansion is not limited to established economies; emerging economies in Asia, Latin America, and Africa are experiencing growing demand for power quality solutions. Rapid urbanization and industrialization are driving the need for reliable power supply in these regions, leading to increased investment in power quality equipment.

Moreover, grid modernization initiatives are being implemented in many countries to enhance the reliability and quality of power distribution. As part of these initiatives, utilities and industries are deploying power quality equipment such as voltage regulators and power conditioners, further boosting market growth.

Key Trends and Opportunities

Several trends and opportunities are shaping the future of the power quality equipment market. The rise of renewable energy integration presents a substantial opportunity, as power quality solutions play a crucial role in maintaining grid stability amidst intermittent energy generation.

The proliferation of energy storage systems, including batteries, creates new avenues for power quality equipment. These systems can mitigate fluctuations in power supply and demand, reducing the risk of voltage sags and surges.

The adoption of smart grid technologies and the Internet of Things (IoT) is driving demand for advanced power quality equipment. Real-time monitoring solutions enable utilities and industries to proactively identify and address power quality issues.

The growing electrification of transportation, including electric vehicles (EVs) and charging infrastructure, requires robust power quality equipment to manage increased energy demand and prevent grid instability.

Industry 4.0, characterized by automation and data exchange in manufacturing and industrial processes, relies heavily on power quality. To protect sensitive equipment and ensure uninterrupted operations, industries are investing in advanced power quality analyzers and voltage regulators.

Emerging economies in Asia, Latin America, and Africa offer significant growth opportunities as they experience rapid urbanization and industrialization. As these regions invest in infrastructure development, there are substantial opportunities for market expansion.

Energy efficiency is a growing concern, leading to demand for power quality equipment that reduces energy waste and carbon emissions. This trend is particularly prominent in sustainability-focused markets.

Top Segments and Regional Leaders

Within the power quality equipment market, several segments stand out:

1. Voltage Regulators and Stabilizers: These are critical for maintaining stable voltage supply and protecting sensitive equipment, experiencing strong growth in industries such as manufacturing and healthcare.

2. Uninterruptible Power Supplies (UPS): UPS systems are essential for ensuring uninterrupted power supply during blackouts and voltage irregularities, with significant demand in IT and data centers.

3. Power Quality Analyzers: These help monitor and analyze electrical parameters to identify and rectify power quality issues, gaining popularity across industries to ensure smooth operations.

4. Harmonic Filters: These mitigate harmonic distortion caused by nonlinear loads, experiencing increased demand as industries adopt more electronic equipment.

5. Static VAR Compensators (SVC) and Static Synchronous Compensators (STATCOM): Used for reactive power compensation and voltage support, these solutions are in demand with the integration of renewable energy sources and grid modernization efforts.

6. Active Power Filters: Used to correct power factor and suppress harmonics, these enhance overall power quality, appealing to industries seeking energy efficiency and compliance with power quality standards.

7. Transformers: Crucial for voltage transformation and distribution, the demand for advanced transformers with built-in power quality features is rising as power grids expand.

Additionally, regions such as Asia Pacific, Europe, and North America are frontrunners in the global power quality equipment market:

Asia Pacific accounts for nearly 43% of the market revenue, driven by rapid industrialization and urbanization.

Europe benefits from its emphasis on energy efficiency and renewable energy integration, with stringent regulations compelling investments in advanced power quality solutions.

North America consistently performs well, particularly in the United States, owing to its extensive industrial and commercial infrastructure, protection of critical data centers, support for renewable energy integration, and adherence to strict power quality standards.

Leaders in the Market

The power quality equipment market features a competitive landscape characterized by key players striving for market share. Established companies like Schneider Electric, Eaton Corporation, ABB, Emerson Electric Co., Siemens, and Legrand dominate the market, leveraging their extensive product portfolios and global reach. Emerging players, specializing in niche segments, are gaining prominence through innovation and cost-effective solutions.

1. Executive Summary

1.1. Global Power Quality Equipment Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
- 2.2.4. Economic Trends
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact
- 2.5.1. Supply Chain
- 2.5.2. End-user Industry Customer Impact Analysis

3. Global Power Quality Equipment Market Outlook, 2019 - 2030

3.1. Global Power Quality Equipment Market Outlook, by Equipment, Value (US$ Mn), 2019 - 2030
- 3.1.1. Key Highlights
  - 3.1.1.1. UPS
  - 3.1.1.2. Harmonic filter
  - 3.1.1.3. Surge Protector
  - 3.1.1.4. Voltage Regulator
  - 3.1.1.5. Static VAR
  - 3.1.1.6. Others
- 3.1.2. BPS Analysis/Market Attractiveness Analysis, by Equipment
3.2. Global Power Quality Equipment Market Outlook, by phase, Value (US$ Mn), 2019 - 2030
- 3.2.1. Key Highlights
  - 3.2.1.1. Single Phase
  - 3.2.1.2. Three Phase
- 3.2.2. BPS Analysis/Market Attractiveness Analysis, by phase
3.3. Global Power Quality Equipment Market Outlook, by End User, Value (US$ Mn), 2019 - 2030
- 3.3.1. Key Highlights
  - 3.3.1.1. Residential
  - 3.3.1.2. Commercial
  - 3.3.1.3. Industrial & Manufacturing
- 3.3.2. BPS Analysis/Market Attractiveness Analysis, by End User
3.4. Global Power Quality Equipment Market Outlook, by Region, Value (US$ Mn), 2019 - 2030
- 3.4.1. Key Highlights
  - 3.4.1.1. North America
  - 3.4.1.2. Europe
  - 3.4.1.3. Asia Pacific
  - 3.4.1.4. Middle East & Africa
  - 3.4.1.5. Latin America
- 3.4.2. BPS Analysis/Market Attractiveness Analysis, by Region

4. North America Power Quality Equipment Market Outlook, 2019 - 2030

4.1. North America Power Quality Equipment Market Outlook, by Equipment, Value (US$ Mn), 2019 - 2030
- 4.1.1. Key Highlights
  - 4.1.1.1. UPS
  - 4.1.1.2. Harmonic filter
  - 4.1.1.3. Surge Protector
  - 4.1.1.4. Voltage Regulator
  - 4.1.1.5. Static VAR
  - 4.1.1.6. Others
4.2. North America Power Quality Equipment Market Outlook, by phase, Value (US$ Mn), 2019 - 2030
- 4.2.1. Key Highlights
  - 4.2.1.1. Single phase
  - 4.2.1.2. Three phases
4.3. North America Power Quality Equipment Market Outlook, by End User, Value (US$ Mn), 2019 - 2030
- 4.3.1. Key Highlights
  - 4.3.1.1. Residential
  - 4.3.1.2. Commercial
  - 4.3.1.3. Industrial & Manufacturing
4.4. North America Power Quality Equipment Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 4.4.1. Key Highlights
  - 4.4.1.1. U.S. Power Quality Equipment Market, Value (US$ Mn), by Equipment, 2019 - 2030
  - 4.4.1.2. Canada Power Quality Equipment Market, Value (US$ Mn), by Equipment, , 2019 - 2030

5. Europe Power Quality Equipment Market Outlook, 2019 - 2030

5.1. Europe Power Quality Equipment Market Outlook, by Equipment, Value (US$ Mn), 2019 - 2030
- 5.1.1. Key Highlights
  - 5.1.1.1. UPS
  - 5.1.1.2. Harmonic filter
  - 5.1.1.3. Surge Protector
  - 5.1.1.4. Voltage Regulator
  - 5.1.1.5. Static VAR
  - 5.1.1.6. Others
5.2. Europe Power Quality Equipment Market Outlook, by phase, Value (US$ Mn), 2019 - 2030
- 5.2.1. Key Highlights
  - 5.2.1.1. Single phase
  - 5.2.1.2. Three phase
5.3. Europe Power Quality Equipment Market Outlook, by End User, Value (US$ Mn), 2019 - 2030
- 5.3.1. Key Highlights
  - 5.3.1.1. Residential
  - 5.3.1.2. Commercial
  - 5.3.1.3. Industrial & Manufacturing
5.4. Europe Power Quality Equipment Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 5.4.1. Key Highlights
  - 5.4.1.1. Germany Power Quality Equipment Market, Value (US$ Mn), by Equipment, 2019 - 2030
  - 5.4.1.2. Netherland Power Quality Equipment Market, Value (US$ Mn), by Equipment, 2019 - 2030
  - 5.4.1.3. U.K. Power Quality Equipment Market, Value (US$ Mn), by Equipment, 2019 - 2030
  - 5.4.1.4. Italy Power Quality Equipment Market, Value (US$ Mn), by Equipment, 2019 - 2030
  - 5.4.1.5. Russia & CIS Power Quality Equipment Market, Value (US$ Mn), by Equipment, 2019 - 2030
  - 5.4.1.6. Rest of Europe Power Quality Equipment Market, Value (US$ Mn), by Equipment, 2019 - 2030

6. Asia Pacific Power Quality Equipment Market Outlook, 2019 - 2030

6.1. Asia Pacific Power Quality Equipment Market Outlook, by Equipment, Value (US$ Mn), 2019 - 2030
- 6.1.1. Key Highlights
  - 6.1.1.1. UPS
  - 6.1.1.2. Harmonic filter
  - 6.1.1.3. Surge Protector
  - 6.1.1.4. Voltage Regulator
  - 6.1.1.5. Static VAR
  - 6.1.1.6. Others
6.2. Asia Pacific Power Quality Equipment Market Outlook, by phase, Value (US$ Mn), 2019 - 2030
- 6.2.1. Key Highlights
  - 6.2.1.1. Single phase
  - 6.2.1.2. Three phase
6.3. Asia Pacific Power Quality Equipment Market Outlook, by End User, Value (US$ Mn), 2019 - 2030
- 6.3.1. Key Highlights
  - 6.3.1.1. Residential
  - 6.3.1.2. Commercial
  - 6.3.1.3. Industrial & Manufacturing
6.4. Asia Pacific Power Quality Equipment Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 6.4.1. Key Highlights
  - 6.4.1.1. China Power Quality Equipment Market, Value (US$ Mn), by Equipment, 2019 - 2030
  - 6.4.1.2. India Power Quality Equipment Market, Value (US$ Mn), by Equipment, 2019 - 2030
  - 6.4.1.3. Japan Power Quality Equipment Market, Value (US$ Mn), by Equipment, 2019 - 2030
  - 6.4.1.4. ASEAN Power Quality Equipment Market, Value (US$ Mn), by Equipment, 2019 - 2030
  - 6.4.1.5. Rest of Asia Pacific Power Quality Equipment Market, Value (US$ Mn), by Equipment, 2019 - 2030

7. Middle East & Africa Power Quality Equipment Market Outlook, 2019 - 2030

7.1. Middle East & Africa Power Quality Equipment Market Outlook, by Equipment, Value (US$ Mn), 2019 - 2030
- 7.1.1. Key Highlights
  - 7.1.1.1. UPS
  - 7.1.1.2. Harmonic filter
  - 7.1.1.3. Surge Protector
  - 7.1.1.4. Voltage Regulator
  - 7.1.1.5. Static VAR
  - 7.1.1.6. Others
7.2. Middle East & Africa Power Quality Equipment Market Outlook, by phase, Value (US$ Mn), 2019 - 2030
- 7.2.1. Key Highlights
  - 7.2.1.1. Single phase
  - 7.2.1.2. Three phase
7.3. Middle East & Africa Power Quality Equipment Market Outlook, by End User, Value (US$ Mn), 2019 - 2030
- 7.3.1. Key Highlights
  - 7.3.1.1. Residential
  - 7.3.1.2. Commercial
  - 7.3.1.3. Industrial & Manufacturing
7.4. Middle East & Africa Power Quality Equipment Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 7.4.1. Key Highlights
  - 7.4.1.1. Saudi Arabia Power Quality Equipment Market, Value (US$ Mn), by Equipment, 2019 - 2030
  - 7.4.1.2. Iran Power Quality Equipment Market, Value (US$ Mn), by Equipment, 2019 - 2030
  - 7.4.1.3. UAE Power Quality Equipment Market, Value (US$ Mn), by Equipment, 2019 - 2030
  - 7.4.1.4. South Africa Power Quality Equipment Market, Value (US$ Mn), by Equipment, 2019 - 2030
  - 7.4.1.5. Rest of Middle East & Africa Power Quality Equipment Market, Value (US$ Mn), by Equipment, 2019 - 2030

8. Latin America Power Quality Equipment Market Outlook, 2019 - 2030

8.1. Latin America Power Quality Equipment Market Outlook, by Equipment, Value (US$ Mn), 2019 - 2030
- 8.1.1. Key Highlights
  - 8.1.1.1. UPS
  - 8.1.1.2. Harmonic filter
  - 8.1.1.3. Surge Protector
  - 8.1.1.4. Voltage Regulator
  - 8.1.1.5. Static VAR
  - 8.1.1.6. thers
8.2. Latin America Power Quality Equipment Market Outlook, by phase, Value (US$ Mn), 2019 - 2030
- 8.2.1. Key Highlights
  - 8.2.1.1. Single phase
  - 8.2.1.2. Three phase
8.3. Middle East & Africa Power Quality Equipment Market Outlook, by End User, Value (US$ Mn), 2019 - 2030
- 8.3.1. Key Highlights
  - 8.3.1.1. Residential
  - 8.3.1.2. Commercial
  - 8.3.1.3. Industrial & Manufacturing
8.4. Latin America Power Quality Equipment Market Outlook, by Country, Value (US$ Mn), 2019 - 2030
- 8.4.1. Key Highlights
  - 8.4.1.1. Brazil Power Quality Equipment Market, Value (US$ Mn), by Equipment, 2019 - 2030
  - 8.4.1.2. Mexico Power Quality Equipment Market, Value (US$ Mn), by Equipment, End-user Industry, 2019 - 2030
  - 8.4.1.3. Venezuela Power Quality Equipment Market, Value (US$ Mn), by Equipment, End-user Industry, 2019 - 2030
  - 8.4.1.4. Rest of Latin America Power Quality Equipment Market, Value (US$ Mn), by Equipment, End-user Industry, 2019 - 2030

9. Competitive Landscape

9.1. Company Market Share Analysis, 2022
9.2. Strategic Collaborations
9.3. Company Profiles
- 9.3.1. Eaton
  - 9.3.1.1. Company Overview
  - 9.3.1.2. Product Portfolio
  - 9.3.1.3. Financial Overview
  - 9.3.1.4. Business Strategies and Development
- 9.3.2. Toshiba Corporation
  - 9.3.2.1. Company Overview
  - 9.3.2.2. Product Portfolio
  - 9.3.2.3. Financial Overview
  - 9.3.2.4. Business Strategies and Development
- 9.3.3. General Electric Company
  - 9.3.3.1. Company Overview
  - 9.3.3.2. Product Portfolio
  - 9.3.3.3. Financial Overview
  - 9.3.3.4. Business Strategies and Development
- 9.3.4. Schneider Electric
  - 9.3.4.1. Company Overview
  - 9.3.4.2. Product Portfolio
  - 9.3.4.3. Financial Overview
  - 9.3.4.4. Business Strategies and Development
- 9.3.5. Emerson Electric Company
  - 9.3.5.1. Company Overview
  - 9.3.5.2. Product Portfolio
  - 9.3.5.3. Financial Overview
  - 9.3.5.4. Business Strategies and Development
- 9.3.6. Siemens AG
  - 9.3.6.1. Company Overview
  - 9.3.6.2. Product Portfolio
  - 9.3.6.3. Financial Overview
  - 9.3.6.4. Business Strategies and Development
- 9.3.7. Active Power Inc
  - 9.3.7.1. Company Overview
  - 9.3.7.2. Product Portfolio
  - 9.3.7.3. Financial Overview
  - 9.3.7.4. Business Strategies and Development
- 9.3.8. Smith's Group plc
  - 9.3.8.1. Company Overview
  - 9.3.8.2. Product Portfolio
  - 9.3.8.3. Financial Overview
  - 9.3.8.4. Business Strategies and Development
- 9.3.9. Honeywell
  - 9.3.9.1. Company Overview
  - 9.3.9.2. Product Portfolio
  - 9.3.9.3. Financial Overview
  - 9.3.9.4. Business Strategies and Development
- 9.3.10. Infinite Electronics Duromax
  - 9.3.10.1. Company Overview
  - 9.3.10.2. Product Portfolio
  - 9.3.10.3. Financial Overview
  - 9.3.10.4. Business Strategies and Development
- 9.3.11. Others
  - 9.3.11.1. Company Overview
  - 9.3.11.2. Product Portfolio
  - 9.3.11.3. Financial Overview
  - 9.3.11.4. Business Strategies and Development

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations