Global Power Quality Equipment Market Segmentation, By Equipment Type (Dynamic Voltage Restorers (DVR), Capacitor Banks, Inductive Reactors, Surge Protection Devices, Harmonic Filters, Power Conditioning Units, Power Distribution Units, Voltage Regulators, Digital Static Transfer Switches, Static VAR Compensators, Solid Oxide Fuel Cells, Isolation Transformers, and Power Quality Meters), Phase (Single Phase and Three Phase), Application (Residential, Commercial, Industrial and Manufacturing, and Transportation and Utilities), End User (Telecommunications, Automotive and Industrial, Electrical and Electronics, and Energy and Utilities) – Industry Trends and Forecast to 2031
Global Power Quality Equipment Market Analysis
The global power quality equipment market is experiencing significant growth, fueled by several interrelated factors that reflect the evolving landscape of energy consumption and management. Rapid industrialization across emerging economies is a key driver, as industries increasingly rely on consistent and high-quality power to maintain operational efficiency and minimize downtime. This surge in industrial activity has led to an escalating demand for electric power, necessitating robust power quality equipment to ensure stable voltage, frequency, and current levels. Moreover, substantial investments in the oil and gas sector are further propelling market expansion. As exploration and production activities increase, ensuring the reliability of power supply becomes critical, leading to a higher adoption of power quality solutions. These solutions help mitigate issues such as voltage sags, surges, and harmonics, which can disrupt operations and lead to costly equipment failures. The integration of Internet of Things (IoT) technologies with artificial intelligence (AI) and machine learning (ML) is another influential factor in this market's growth. These advancements enable real-time monitoring and predictive maintenance of power systems, allowing for better management of power quality issues. As industries adopt smart solutions to optimize energy consumption and enhance system performance, the demand for power quality equipment is expected to rise significantly. Overall, the convergence of industrial growth, sector investments, and technological advancements positions the global power quality equipment market for robust expansion in the coming years, reflecting a proactive approach to managing power quality challenges in an increasingly complex energy landscape.
Global Power Quality Equipment Market Size
Global Power quality equipment market size was valued at USD 39.59 billion in 2023 and is projected to reach USD 61.22 billion by 2031, with a CAGR of 5.60% during the forecast period of 2024 to 2031. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, PORTER analysis, and PESTLE analysis.
Global Power Quality Equipment Market Trends
“Increasing Demand for Reliable Power Supply”
The increasing demand for a reliable power supply is being driven by the growth of industrialization and the expanding commercial sector. Power quality equipment is being adopted to ensure that sensitive equipment operates without interruptions or damage due to power fluctuations. The frequent occurrences of power surges, voltage drops, and electrical noise are prompting the use of these systems across various industries. The requirement for improved power reliability in critical sectors, such as healthcare and data centers, is also a significant factor contributing to the market growth.
Report Scope and Global Power Quality Equipment Market Segmentation
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Atrributes
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Global Power Quality Equipment Market Insights
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Segments Covered
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, Rest of South America
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Key Market Players
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ABB Ltd (Switzerland), Schneider Electric (France), Mitsubishi Electric Corporation (Japan), Emerson Electric Co. (U.S.), Toshiba Corporation (Japan), General Electric (U.S.), Siemens Energy AG (Germany), Honeywell International Inc. (U.S.), Hitachi Energy Ltd (Switzerland), Eaton Corporation PLC (Ireland), Nidec Industrial Solutions (Japan), AMETEK Inc. (U.S.), Hubbell Incorporated (U.S.), Rockwell Automation (U.S.), Delta Electronics, Inc. (Taiwan), Cordyne, Inc. (U.S.), Fuji Electric (Japan), Unipower AB (Sweden), and Bloom Energy (U.S.)
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Market Opportunities
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Value Added Data Infosets
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, PORTER analysis, and PESTLE analysis.
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Global Power Quality Equipment Market Definition
Power quality equipment is primarily used to maintain consistent power quality by regulating power and ensuring a stable voltage supply within a specified range, based on parameters like flicker current, harmonics, voltage dips, and transients. Its purpose is to reduce the need for multiple devices within a system while also facilitating real-time data collection, storage, and analysis without delays, efficiently processing short-term data requirements. This equipment helps prevent damage, reduces costs, and mitigates issues such as premature equipment aging, production losses, data loss, unexpected malfunctions, performance degradation, sudden shutdowns, and capacitor bank failures.
Global Power Quality Equipment Market Dynamics
Drivers
- Rising Adoption of Renewable Energy Sources
The rising adoption of renewable energy sources, such as wind and solar, is necessitating advanced power quality equipment. The variability and unpredictability associated with renewable energy generation can lead to power quality issues like harmonics and voltage fluctuations. To maintain grid stability and ensure efficient power distribution, power quality equipment is being deployed. Governments and utilities are also focusing on integrating power quality solutions to support renewable energy grids, further driving market growth.
- Growth in the Industrial Automation Sector
The industrial automation sector is growing, which is creating a higher requirement for consistent power quality. Automated systems and precision machinery are highly susceptible to power disturbances, and any fluctuation can lead to equipment malfunctions, downtime, or product defects. The deployment of power quality equipment is being increased to safeguard production lines and ensure smooth operations in automated facilities. This trend is being further supported by the rising focus on Industry 4.0 and smart manufacturing initiatives.
- Stringent Government Regulations on Power Quality
Stringent government regulations on power quality are being enforced to ensure reliable power distribution and protect consumer equipment. Regulations and standards like IEEE 519 are being implemented to limit harmonics and ensure stable voltage levels. Utilities and industrial users are being compelled to comply with these regulations, driving the adoption of power quality equipment. These regulatory initiatives are being introduced to improve energy efficiency and minimize power losses in the transmission and distribution network.
Opportunities
- Growth in Smart Grid Development
The growth in smart grid development is providing an opportunity for the power quality equipment market. As smart grid infrastructure is being established to enhance the efficiency and reliability of power distribution networks, the demand for power quality solutions is also increasing. These systems are being integrated to manage bidirectional power flows and improve grid resilience. Governments and utilities are investing heavily in smart grid projects, which will likely boost the adoption of power quality equipment.
- Rising Demand for Data Centers and IT Facilities
The rising demand for data centers and IT facilities is creating a lucrative opportunity for the power quality equipment market. Data centers are highly sensitive to power interruptions, and even a brief power disturbance can lead to data loss and operational issues. To prevent such incidents, the deployment of advanced power quality equipment is being increased. As cloud computing, digitalization, and data storage requirements continue to expand globally, the need for reliable power infrastructure in data centers is expected to drive the market further.
- Emergence of Energy-Efficient Solutions
The emergence of energy-efficient power quality solutions is offering a growth opportunity for market players. Increasing awareness regarding energy conservation and cost savings is pushing industries to opt for energy-efficient equipment. Manufacturers are focusing on developing power quality systems with enhanced efficiency to address these concerns. The use of energy-efficient devices is being encouraged by government incentives and subsidy programs, which is further contributing to market expansion.
Restraints/ Challenge
- High Cost of Power Quality Equipment
The high cost of power quality equipment is acting as a significant barrier to the market growth. The initial investment required for purchasing and installing power quality systems, such as voltage regulators and harmonic filters, is relatively high. Many small and medium-sized enterprises are being discouraged from investing in these solutions due to budget constraints. Furthermore, the ongoing maintenance expenses associated with power quality equipment are also a limiting factor, especially in cost-sensitive markets.
- Complexities in Integration with Existing Systems
The integration of power quality equipment with existing electrical infrastructure poses significant challenges. Compatibility issues may arise, leading to technical difficulties in the installation process. Modifications to existing systems are often required, which can result in additional costs and increased project timelines. The complexity of integrating power quality solutions with various electrical networks may also require skilled technicians, which can further add to the challenge, particularly in developing regions where technical expertise is limited.
This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Power Quality Equipment Market Scope
The market is segmented on the basis of by equipment type, phase, application, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Equipment Type
- Dynamic Voltage Restorers (Dvr)
- Capacitor Banks
- Inductive Reactors
- Surge Protection Devices
- Harmonic Filters
- Power Conditioning Units
- Power Distribution Units
- Voltage Regulators
- Digital Static Transfer Switches
- Static VAR Compensators
- Solid Oxide Fuel Cells
- Isolation Transformers
- Power Quality Meters
Phase
- Single Phase
- Three Phase
Application
- Residential
- Commercial
- Industrial and Manufacturing
- Transportation and Utilities
End User
- Telecommunications
- Automotive and Industrial
- Electrical and Electronics
- Energy and Utilities
Global Power Quality Equipment Market Regional Analysis
The market is analyzed and market size insights and trends are provided by country, equipment type, phase, application, and end user as referenced above.
The countries covered in the market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.
North America is expected to dominate the global power quality equipment market due to the region's well-established industrial sector, stringent government regulations on power quality standards, and significant investments in smart grid infrastructure. The presence of major players and high adoption of advanced technologies also contribute to the region's leading position.
Asia-Pacific is expected as the fastest-growing region in the global power quality equipment market owing to rapid industrialization, increasing investments in renewable energy projects, and rising demand for reliable power supply across developing countries like China and India. Government initiatives to improve grid infrastructure further drive market growth in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Global Power Quality Equipment Market Share
The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.
Global Power Quality Equipment Market Leaders Operating in the Market Are:
- ABB Ltd (Switzerland)
- Schneider Electric (France)
- Mitsubishi Electric Corporation (Japan)
- Emerson Electric Co. (U.S.)
- Toshiba Corporation (Japan)
- General Electric (U.S.)
- Siemens Energy AG (Germany)
- Honeywell International Inc. (U.S.)
- Hitachi Energy Ltd (Switzerland)
- Eaton Corporation PLC (Ireland)
- Nidec Industrial Solutions (Japan)
- AMETEK Inc. (U.S.)
- Hubbell Incorporated (U.S.)
- Rockwell Automation (U.S.)
- Delta Electronics, Inc. (Taiwan)
- Cordyne, Inc. (U.S.)
- Fuji Electric (Japan)
- Unipower AB (Sweden)
- Bloom Energy (U.S.)
Latest Developments in Global Power Quality Equipment Market
- In July 2024, Hitachi Energy, based in Zurich, revealed an investment of 80 million euros (approximately USD 87 million) to expand its transformer operations in Spain. This initiative is part of a broader USD 1.5 billion investment aimed at boosting global transformer production to meet increasing demand. The funds will be used to enlarge the Power Transformers facility in Cordoba to over 32,000 square meters
- In July 2024, GE Vernova’s Electrification, headquartered in Massachusetts, announced a research and development contract with four German Transmission System Operators (TSOs). The R&D partnership with TenneT TSO GmbH, 50Hertz Transmission GmbH, Amprion GmbH, and Transnet BW GmbH focuses on designing and engineering a Multi-terminal/Multi-hub High-voltage Direct Current (HVDC) connection solution, supporting the future high-voltage grid for Germany and Europe's energy transition
- In September 2023, AMETEK, Inc., with headquarters in Panama, announced its acquisition of United Electronic Industries (UEI), a prominent provider of data acquisition and control solutions for the aerospace, defense, energy, and semiconductor sectors. UEI specializes in designing and manufacturing high-performance test, measurement, simulation, and control solutions, enabling customers to create smart, reliable, flexible, and durable systems
- In January 2021, Eaton completed the acquisition of Tripp Lite, a provider of power quality products and connectivity solutions. This move aimed to enhance Eaton's edge computing and distributed IT product portfolio while expanding its single-phase uninterruptible power supply (UPS) business
- In March 2021, Siemens acquired a 99.2% stake in C&S Electric India to address the growing demand for low-voltage power distribution in the country. This acquisition also seeks to establish an export hub for low-voltage products, as well as distribution and protection measurement devices
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