Power quality equipment market is anticipated to grow at a CAGR of 7.1% during the forecast period. Key players are inclined to launch new products in the market to cater to the demand and to stay competitive in the market, which is considered as major driving factor of the market. For instance, in January 2019, ABB Ltd. launched a multi-functional power quality and energy storage solutions named PQflexC, PQdynaC, PQactiF, PQoptiM, and PQStorI, specially designed to mitigate a range of power quality problems for electrical networks. The product features include PQflexC, a variable reactive power controller; PQdynaC, an ultra-fast reactive power and unbalance controller; PQactiF, an active harmonic filter; and PQStorI, battery storage inverter with power quality functions. Further, PQoptiM controls and monitors power quality parameters. The product improves grid stability, power quality, and energy efficiency for increasingly complex grids. Moreover, the devices can be operated and controlled via cloud-connected user platforms to enable real-time access to data.
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Among the phase, the three-phase sub-segment is expected to hold a prominent share in the power quality equipment market over the forecast period. The growth is attributed to the rising renewable energy sector across the globe. Moreover, the rise in concern towards grid reliability, efficiency, and security in electric power utility applications further fuels the demand for three-phase-based power quality equipment. Furthermore, the key market players are also launching three phase-based products in the market to cater to the rising demand. For instance, in May 2022, Delta Electronics, Inc. launched a medium voltage power quality restorer. The product is an 11kV 3-phase power quality restorer, developed through indigenous R&D. The product is specially designed and developed for industrial loads and Indian grid code requirements. The product is also capable of providing both leading and lagging reactive power along with current harmonic compensation, load imbalance correction, and voltage regulation. Additionally, it has a minimum impact on the environment.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Power Quality Equipment Market by Equipment
- Uninterruptable Power Supply
- Static VAR Compensator
- Power Quality Meters
- Others (Surge Arresters, Power Conditioning Units)
Global Power Quality Equipment Market by Phase
- Single Phase
- Three Phase
Global Power Quality Equipment Market by End-User
- Commercial
- Residential
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- ABB Ltd.
- Active Power Inc.
- Ametek Inc
- Eaton Corp. plc
- Emerson Electric Co.
- Honeywell International Inc.
- Infinite Electronics International, Inc.
- Langley Holdings plc
- LEGRAND
- Leviton Manufacturing Co.
- MTE Corp.
- MTE Meter Test Equipment AG
- Schneider Electric SE
- Siemens AG
- Smiths Group plc.
- SOCOMEC
- The General Electric Co. (GE Group)
- Toshiba Corp.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global power quality equipment market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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