Power Quality Equipment Market Set to Surge, Projected to Reach USD 46.1 billion by 2026

Power Quality Equipment Market

The global power quality equipment market is projected to reach USD 46.1 billion by 2026, at a CAGR of 7.3% from 2021. The growth of the market is driven by the increasing demand for power quality improvement in industrial, commercial, and residential applications. The rising adoption of renewable energy sources and the growing need for uninterrupted power supply are also contributing to the growth of the market.

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The power quality equipment market encompasses a wide range of devices and solutions designed to monitor, control, and correct power quality issues. These include voltage regulators, power factor correction devices, harmonic filters, surge protectors, and uninterruptible power supply (UPS) systems. The market is driven by increasing electricity demand, rapid industrialization, and the growing adoption of sensitive electronic equipment across various sectors such as manufacturing, healthcare, data centers, and telecommunications.

Market Trends

The following trends are expected to shape the global power quality equipment market during the forecast period:

• Increasing adoption of online power quality monitoring systems
• Growing demand for power quality equipment for renewable energy applications
• Development of new power quality technologies such as active power filters and voltage regulators

Market Drivers

The growth of the global power quality equipment market is driven by the following factors:

• Increasing demand for power quality improvement in industrial, commercial, and residential applications
• Rising adoption of renewable energy sources
• Growing need for uninterrupted power supply
• Increasing government regulations pertaining to power quality

Competitive Landscape

The global power quality equipment market is highly competitive, with several key players dominating the market. The market is characterized by intense competition, technological advancements, and strategic collaborations. Key players in the market include:

• ABB Ltd.
• Mitsubishi Electric Corporation
• Eaton Corporation PLC
• Schneider Electric SE
• Toshiba International Corporation
• National Instruments Corporation
• Celestica Inc.
• EMCO Limited
• Delta Electronics, Inc.
• AMETEK Inc.
• Hubbell Incorporated and more

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The market is segmented by equipment, phase, end-user, and region.

The equipment segment is further segmented into uninterruptible power supplies (UPS), harmonic filters, surge protection devices, voltage regulators, static VAR compensators, and power quality meters. The UPS segment is the largest segment of the market, and it is expected to continue to dominate the market during the forecast period. This is due to the increasing demand for UPS in critical applications such as data centers, hospitals, and manufacturing plants.

The phase segment is further segmented into single-phase and three-phase. The three-phase segment is the largest segment of the market, and it is expected to continue to dominate the market during the forecast period. This is due to the increasing use of three-phase power in industrial applications.

The end-user segment is further segmented into industrial, commercial, and residential. The industrial segment is the largest segment of the market, and it is expected to continue to dominate the market during the forecast period. This is due to the increasing adoption of power quality equipment in industrial applications such as manufacturing, power generation, and oil & gas.

The region segment is further segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the largest market for power quality equipment, and it is expected to continue to dominate the market during the forecast period. This is due to the growing demand for power quality improvement in countries such as China, India, and Japan.

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Market Challenges

The growth of the global power quality equipment market is challenged by the following factors:

• High cost of power quality equipment
• Lack of awareness about power quality issues
• Complex installation and maintenance requirements

Market Opportunities

The global power quality equipment market offers the following opportunities:

• Growing demand for power quality equipment in emerging economies
• Increasing adoption of smart grid technologies
• Development of new power quality technologies

Recent Developments

Here are some recent developments of companies in the power quality equipment market:

• ABB Ltd. acquired Power-One, a provider of power quality solutions for data centers, in 2022.
• Eaton Corporation Plc. acquired Tripp Lite, a supplier of power quality products and connectivity solutions, in 2021.
• Emerson Electric Company acquired Vertiv, a provider of critical power and cooling solutions, in 2021.
• General Electric Company acquired C&S Electric India, a supplier of low-voltage power distribution products, in 2021.

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