Market Research Report
Middle East and Africa Power Quality Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Equipment (Uninterruptable Power Supply, Harmonic Filters, Static VAR Compensator, Power Quality Meters, and Others); Phase ; End-Users
|Middle East and Africa Power Quality Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Equipment (Uninterruptable Power Supply, Harmonic Filters, Static VAR Compensator, Power Quality Meters, and Others); Phase ; End-Users|
Published: August 6, 2021
The Insight Partners
Content info: 123 Pages
Delivery time: 1-2 business days
The power quality equipment market in Middle East and Africa is expected to grow from US$ 1,595.4 million in 2021 to US$ 2,371.5 million by 2028; it is estimated to grow at a CAGR of 5.8% from 2021 to 2028.
Power quality equipment are gaining traction due to their demand at electric vehicle (EVs) power stations. The equipment deal with voltage deviations while charging, thus ensuring a stable power supply. The increasing use of EVs, mainly due to favorable government initiatives to encourage their use, is poised to drive proliferation of the EVs charging infrastructure across the region. This is expected to fuel the growth of power quality equipment market in the Middle East and Africa in the near future.
The market for Middle East and Africa power quality equipment market is segmented into equipment, phase, and end user. Based on equipment, the power quality equipment market is segmented into uninterruptable power supply (UPS), static VAR compensator, harmonic filters, power quality meters, and others. In 2021, the others segment is estimated to account for the largest market share in the power quality equipment market. Portable power equipment, power conditioners, surge protective devices, power and energy meters, solid oxide fuel cell, static transfer switch, line voltage regulators, power distribution units, reactors & inductors, and frequency converter are other types of power quality equipment available in the market. Based on the requirement of the application, market players offer this equipment in various features, shape, sizes, efficiency, and accuracy all over the world. Client can also ask for customized power quality equipment.
The UAE, South Africa, Morocco, Saudi Arabia, and Kuwait are among the countries that suffered economic crisis due to COVID-19 in the MEA. The power quality equipment market in the MEA is majorly impacted by the disruption in the national and international supply chains. In Gulf countries, there are many oil companies that require power quality equipment for smooth operations. However, the demand for fuel dropped considerably due to intercity and interstate travel restrictions. This resulted in decrease in production as well as impacted the need for power quality equipment required at petroleum plants, offshore oil rigs, and refineries. Further, travel bans affected the performance of the aviation industry in the MEA, which, in turn, led to weak demand for power quality equipment in this industry.
The overall Middle East and Africa Power quality equipment market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the Middle East and Africa Power quality equipment market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Middle East and Africa Power quality equipment market. 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 a few players operating in the Middle East and Africa Power quality equipment market.