Power Quality Equipment Market Analysis, Size, Share by 2028

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Power Quality Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Equipment (Uninterruptable Power Supply (UPS), Harmonic Filters, Static VAR Compensator, Power Quality Meters, Others); Phase (Single Phase, Three Phase); End-Users (Industrial and Manufacturing, Commercial, and Others), and Geography

Publication Month: Jul 2021 | Report Code: TIPRE00023328 | No. of Pages: 165 | Category: Electronics and Semiconductor | Status: Published

The power quality equipment market is expected to grow from US$ 28,499.6 million in 2021 to US$ 45,131.9 million by 2028; it is estimated to grow at a CAGR of 6.8% during 2021–2028.

The electricity consumption worldwide is increasing with the rapid growth of the manufacturing and processing sectors. The transportation, healthcare, commercial, and residential sectors are other prime contributors to the rise in electricity consumption. In Asia Pacific, elevating population, growing disposable income, and increasing digitalization are driving consumers preference toward online purchases and payments. In addition, several governments in region are promoting the growth of respective manufacturing industries. For instance, the Government of India started the ”Make in India” initiative to encourage international and domestic companies to set-up their manufacturing facilities in India as well as to build the best in class manufacturing infrastructure in the country. Similarly, Chinese government introduced the “Made in China 2025” program to strengthen the country’s manufacturing sector as well as to become the most attractive market in the world. The aforementioned trends are leading to surge in the adoption of related power quality equipment to ensure regulated power supply in industries, thus protecting hardware from damages caused by power fluctuations. Also, continuously growing processing industries due to the rise in demand for fast moving consumer goods are further bolstering the demand for power quality equipment market

Impact of COVID-19 Pandemic on Power Quality Equipment Market

The COVID-19 outbreak has continued its adverse effects in several countries in 2021 as well. Business shutdowns or limited business operations, and lockdowns and travel limitations have hampered the production and supply chain of power quality equipment, leading to decline in the adoption of these equipment, including uninterrupted power supply (UPS) systems, static VAR compensators, harmonic filters, power quality meters, power conditioners, and power quality analyzers. However, owing to the resumption of trading activities from the last quarter of 2020, the market players are expecting steady growth in the demand in the coming quarters. Manufacturing, commercial, metals, cement, power generation, education, entertainment, electronics, energy, aviation, and transportation are among the key industries affected by the pandemic.

Lucrative Regions for Power Quality Equipment Providers

Lucrative Regions for Power Quality Equipment Providers

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Power Quality Equipment Market Insights

Increasing Demand for Stable Power Supply in Telecommunications Sector Fuels Growth of Power Quality Equipment Market

Telecommunications infrastructure has developed rapidly in the recent years. This new form of telecommunication infrastructure is adding more advanced telecommunication systems such as data centers, servers, and internet-related infrastructure as well as equipment to efficiently cater to voice and data transmission services. However, the modern telecommunication systems are more vulnerable to issues with power as the electronic components used for data transmission are more susceptible to sags/dips, swells, transients, and harmonics. A telecom equipment can trip on the occurrence of power fluctuations caused by abrupt increase in loads (voltage sags and swells) due to short circuits, loose connections or faults, and motors starting. Such instances lead to loss in communications and incur high cost for telecom companies, they can also lead to equipment malfunction and breakdown. Thus, to overcome this challenge, telecom companies are adopting power quality equipment to ensure a steady supply of voltage within a defined range.

Phase-Based Market Insights

Based on phase, the power quality equipment market is bifurcated into single phase and three phase. In 2020, the three phase segment accounted for a larger share in the market.

Power Quality Equipment Market, by Phase, 2020 and 2028 (%)

Power Quality Equipment Market, by Phase, 2020 and 2028 (%)

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End Users-Based Market Insights

Based on end user, the power quality equipment market is segmented into industrial and manufacturing, commercial, and others. In 2020, the industrial and manufacturing segment accounted for the largest market share.

Strategic Insights

Report Coverage - Power Quality Equipment Market
Report CoverageDetails
Market Size Value inUS$ 28,499.6 Million in 2021
Market Size Value byUS$ 45,131.9 Million by 2028
Growth rateCAGR of 6.8% from 2021-2028
Forecast Period2021-2028
Base Year2021
No. of Pages165
No. of Tables88
No. of Charts & Figures82
Historical data availableYes
Segments coveredEquipment ; Phase ; End-Users , and Geography
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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The players operating in the power quality equipment market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

  • In June 2021, Eaton  completed the acquisition of 50% stakes in Jiangsu YiNeng Electric’s Busway business in China. This agreement would help Eaton in expanding its power distribution portfolio in the APAC market.
  • In May 2021, Acumentrics introduced SmartPDU, a new power distribution system that offers an unprecedented combination of convenience, flexibility, secure control, and system data, which ensures the optimal operation of shipboard electronic systems, along enabling them to accommodate changes and upgrades.

The global power quality equipment market has been segmented as mentioned below:

By Equipment

By Phase

  • Single Phase
  • Three Phase

By End Users

  • Industrial and Manufacturing
  • Commercial
  • Others

By Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East and Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America (SAM)

    • Brazil
    • Argentina
    • Rest of SAM

Company Profiles

  • 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
  • Piller Group GmbH

Frequently Asked Questions

The demand for power quality equipment (PQE) is gaining traction due to the rising application of PQE at electric vehicles (EVs) power station. The equipment provides a stable power frequency to charge electric vehicles and avoid any voltage deviation while charging. The increasing number of electric vehicles globally is poised to increase the EVs charging stations, and it is expected to set a future trend for power quality equipment
In the industrial and manufacturing sector, three phase power supply is used to a large extent. Since load is very high for industrial and manufacturing applications, it is not viable to use single phase power supply. The manufacturing and industrial segment is estimated to have a notable market share of the power quality equipment market during the forecast period from 2021 to 2028.
The US, Canada, and Mexico are the key contributors to the North America power quality equipment market. The US and Canada are developed countries in terms of modern technologies, standard of living, and infrastructure. North America is one of the frontrunners in terms of developing and accepting new, advanced technologies. Also, North America is attracting region for massive foreign direct investment in manufacturing and creating an opportunity for more power consumption.
An uninterruptable power supply (UPS) is a kind of electrical equipment which supplies power to the load when the main source or input source of power fails, especially in case of emergency. The on-battery run time of many uninterruptible power supply systems is comparatively short; however, it is enough to start a standby source of power or shut down the protected equipment properly. It is a kind of continual power system. These UPS systems are typically utilized widely for protecting hardware such as data centers, computers, telecommunication equipment, and other electrical equipment.
In the wake of global warming due to rising carbon pollution from burning fossil fuels, coal, and natural gas, the demand for renewable energy sources is increasing gradually. This, in turn, is creating an opportunity for power quality equipment market, as a significant increase in the number of renewable power generation projects is expected in upcoming years. This focus on renewable energy projects is anticipated to increase the demand for power quality equipment to measure the quality of the power generated in distribution substations.
Rapid growth of manufacturing industries and processing sector worldwide is boosting the electricity consumption. Industrial manufacturing and food processing sectors are among the largest consumers of electricity, followed by other sectors such as transportation, healthcare, commercial, and residential. Factors such as rising population, growing disposable income, and increasing digitalization are enabling consumers for online purchasing and payments in the Asia Pacific region.

The List of Companies - Power Quality Equipment Market

  1. Acumentrics
  2. Emerson Electric Co.
  3. AMETEK Inc.
  4. Eaton
  5. General Electric Company
  6. Schneider Electric SE
  7. Siemens AG
  8. Toshiba Energy Systems & Solutions Corporation
  9. Hitachi ABB Power Grids Group
  10. Piller Group GmbH
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