The Power Quality Equipment Market is expected to grow at a CAGR of 6.56%, from 2017 to 2022. The global market is set to witness a significant growth as importance for power quality standardization has grown in developed and developing economies.
Browse 71 market data tables and 77 figures spread across 187 pages and an in-depth TOC ofthe“Power Quality Equipment Market: Global Forecast to 2022.”
The industrial and manufacturing segment is expected to hold the largest share of the Power Quality Equipment Market, by end-user, during the forecast period
The industrial and manufacturing segmentled the power quality market in 2016, and is projected to dominate the market during the forecast period.The Industry 4.0 initiative is being applied to vehicles and electrical machinery in order to facilitate remote diagnostics, remote maintenance, and remote data capture which has led to increase the need for data centers, servers, and communication systems. With the increasing use of electronic equipment, the need for protection systems for such critical equipment has been increasing. This is driving the market for power quality equipment in the industrial and manufacturing segment, which is expected to create new revenue pockets for the Power Quality Equipment Market during the forecast period.
Solid oxide fuel cells to be the fastest growing segment in the Power Quality Equipment Market
With respect to the equipment segment, solid oxide fuel cells is the fastest growing market from 2017 to 2022. These fuel cells generate electricity using a hard, ceramic compound of metal as an electrolyte, like calcium or zirconium oxides. The generated electricity can compensate for the dip in the quality of power flowing through the electrical network. The generated electricity from these fuel cells can inject power into the electrical circuit to maintain the power quality parameters when the electrical load reduces in these circuits.
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North America: The leading market for power quality equipment
In this report, the Power Quality Equipment Market has been analyzed with respect to five regions, namely, North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The North American market is expected to dominate the global Power Quality Equipment Market.The North American region has age old T&D infrastructure, due to which the region is more prone to power outages. According to an estimate, approximately 6% of the total electricity generated is usually lost during transmission and distribution from the grid to the consumer.The U.S. is investing in various protection systems for urbanized infrastructure developmentand the government is focusing on grid restructuring to overcome this issue. Multi-billion-dollar investments in data centers and urban infrastructure for the telecom industry have paved a way for the demand for power quality equipment to grow phenomenally.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Power Quality Equipment Market. These players include ABB, Ltd. (Switzerland), Siemens AG (Germany), Schneider Electric SE (France), Emerson Electric Company (U.S.), Eaton Corporation Plc (Ireland), and General electric Company (U.S.).Theleading players are trying to make inroads in the markets in developed economies and are adopting various strategies to increase their market shares.