Power quality equipment refers to devices designed to ensure a regulated power supply with minimal spikes. A complete failure or lag in electrical power can cause large electronic systems to malfunction, resulting in expensive downtime, damaged or lost data, and damaged hardware. This may result in revenue loss and reduced productivity. Power quality equipment offers effective protection against power disturbances by providing continuous power automatically and virtually instantaneously despite any disturbances. As a result, power quality equipment has witnessed widespread application across industrial manufacturing and processing, IT and telecom, commercial spaces, energy and utilities, and several others.
Continually increasing power consumption is the core driving factor for the power quality equipment market. In addition, the consistently growing industrial manufacturing and processing sector worldwide forms another major factor driving the market growth. Industrial manufacturing and processing is the largest consumer of electricity, followed by transportation, residential, and commercial sectors. Due to the rapid industrial sector growth observed in Asia Pacific, the demand for related power quality equipment is projected to remain strong over the forecast period. Furthermore, the telecommunications industry’s increasing digitalization makes it a critical consumer of power-quality equipment. The need for high-capacity and efficient electric power supply systems for servers, data centers, and other power-related infrastructure is the major factor boosting the segment’s growth. The number of renewable power generation projects has increased significantly over the period as a result of the growing adoption of renewable energy sources. This focus on renewable energy projects is expected to increase the demand for power-quality equipment to measure the quality of the power generated in distribution substations.
North America dominates the global power quality equipment market, closely followed by Asia Pacific and Europe. Investments in data centers and urban infrastructure for the telecom industry have paved the way for the demand for high-quality power equipment to grow phenomenally in this region. In Asia Pacific, the rapidly growing industrial manufacturing and IT & telecom sectors are the primary drivers of regional market growth.
The global power quality equipment market is segmented on the following basis:
- UPS (Uninterruptible Power Supply)
- Power Quality Meters
- Static VAR Compensators
- Voltage Regulators
- Surge protection devices
- harmonic Filters
- Digital Static Transfer Switches
- Solid Oxide Fuel Cells
- IT and Telecommunications
- Energy and Utilities
- Industrial Manufacturing
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
Key players identified in the power quality equipment market include, but are not limited to:
ABB Ltd., Active Power, Inc., Eaton Corporation Plc., Emerson Electric Co., MTE Corporation, Schneider Electric SE, Siemens AG, Smiths Group plc., Toshiba International Corporation Pty Ltd., General Electric, Legrand S.A., Acumentrics Corporation, Leviton Manufacturing Company, Inc., and others.