Power Quality Equipment Market to Boom in Near Future by 2022 Industry Key Players: ABB, Siemens AG, Schneider Electric SE, Emerson Electric Company, Eaton Corporation Plc, General electric Company
According to the new market research report “Power Quality Equipment Market by Equipment (UPS, Harmonic Filters, Surge Protection Devices, Power Conditioning Unit, Static VAR compensator, and Power Quality Meters), Phase (Single and Three Phase), End-User, and Region – Global Forecast to 2022″, The global power quality equipment market size is envisioned to have a predicted growth of USD 29.7 billion in 2017 to USD 40.9 billion by 2022, registering a CAGR of 6.6%, from 2017 to 2022.
The global power quality equipment industry is about to behold a cogent advancement due to the rising demand for systems of protection for electronic devices, increase in alternative energy programs, non-uniform power quality and network reliability issues, and power quality standardization.
Browse and in-depth TOC on “Power Quality Equipment Market”
71 – Tables
77 – Figures
187 – Pages
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The industrial & manufacturing segment is counted upon to secure the most significant share of the power quality equipment market, by end-user, amid the forecast period
The industrial & manufacturing sector ushered the global power quality equipment industry in 2016 and is foretold to rule the market over the forecast period. The Industry 4.0 initiative is being enforced on vehicles and electrical machinery to aid the remote maintenance, remote diagnostics, and remote data capture. A rise in the necessity for data centers, servers, and communication systems is seen with such initiatives. This also increases the need for protection systems for such vital equipment. This is leading the market for power quality equipment in the part of the industrial and manufacturing segment, which is envisioned to garner new revenue chambers for the power quality equipment market at the time of the forecast period.
Solid oxide fuel cells as the fastest expanding section in the power quality equipment industry
In consideration of the equipment segment, solid oxide fuel cells are predicted to witness the fastest growth from 2017 to 2022. These fuel cells are able to generate electricity with the use of a hard, ceramic compound of metal for an electrolyte, such as calcium or zirconium oxides. The electricity generated from there can reimburse for submersion in the quality of power flowing through the electrical network.
North America as the championing market for power quality equipment
In this report, the analysis of the power quality equipment market has been carried out with respect to five regions, namely, North America, Europe, South America, Asia-Pacific, and the Middle East & Africa. The North American market is anticipated to call the shots for the global power quality equipment industry. The U.S. is continuing to invest in several protection systems for urbanized infrastructure development. The North American region is susceptible to frequent power outages because of its age-old T&D infrastructure. According to an estimated analytical study, about 6% of the entire electricity generated is squandered mostly during the transmission and distribution from the grid to the consumer. Grid restricting is being focused on to resolve the issue by the U.S. government. The considerable growth of the power quality equipment market can be attributed to the multi-billion-dollar investments in data centers & urban infrastructure for the telecom industry which has successfully led to the demand for it. This rising demand from the public infrastructure, as well as the new renewable power projects, are hoped for the creation of more opportunities for the power quality equipment industry of the region to expand.
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To ensure a detailed understanding of the competitive landscape, the report adds the portfolios of some of the top players, dominant in the power quality equipment market. These players include Siemens AG (Germany), ABB, Ltd. (Switzerland), General Electric Company (U.S.), Schneider Electric SE (France), Eaton Corporation Plc (Ireland), and Emerson Electric Company (U.S.). These players are developing strong strategies to expand in developed economies.
Please Explore Relevant Report:
Surge Protection Devices Market by Type (Hard-Wired, Plug-In, and Line Cord), Discharge Current (Below 10 kA, 10 kA–25 kA, and above 25 kA), End-User (Industrial, Commercial, and Residential), and Region – Global Forecast to 2022
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