NEW YORK, June 16, 2016 /PRNewswire/ -- "Power Quality meter market projected to grow at a CAGR of 7.5% from 2016 to 2021"
The power quality meter market is projected to reach USD 1,252.0 million by 2021, growing at a CAGR of 7.5% during the forecast period. Power quality meters play a crucial role in the industrial, manufacturing, and commercial sectors across various applications, including transformers, feeders, motors, motor control centers, and other equipment. The growing need to protect electrical networks and components, investments in renewable power plants, and increasing refurbishment activities in developed economies are expected to drive the global power quality meter market.
"Utility: The fastest growing end-user segment"
Utility is estimated to constitute the fastest growing end-user segment of the power quality meter market. The reason for the same can be attributed to the increasing investments in transmission & distribution infrastructure in developed economies; North America and Europe are investing heavily in upgrading their existing transmission & distribution infrastructure.
"Asia-Pacific: The fastest growing market for power quality meter"
Asia-Pacific is estimated to be the fastest growing market for power quality meters, followed by Europe and North America. China accounted for the largest share in the Asia-Pacific power quality meter market in 2015, and is projected to grow at the highest CAGR after India from 2016 to 2021. This can be attributed to the rising awareness for the supply of the quality power and increasing number of industries and manufacturing facilities in the country. Increasing investments in transmission & distribution infrastructural development, energy-efficiency measures, and renewable projects in the country also play a vital role in boosting the growth for the installation of power quality meters. Government of several countries in the Asia-Pacific region are swiftly making stride toward implementing stricter regimes for the supply of the quality power at the commercial facilities such as IT hubs, banking institutions, and other facilities which would further drive the demand for power quality meters.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, corporate-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1—35%, Tier 2—45%, and Tier 3—20%
By Designation: Corporate Level—35%, Director Level—25%, and Others*—40%
By Region: Asia-Pacific—32%, the Middle East—30%, North America—19%, Europe—9%, and the Rest of the World—10%
Note: *Others include sales managers, marketing managers, product managers, and design engineers. The tier of the companies has been defined on the basis of their segmental revenues; as of 2015: Tier 1 = > USD 1 billion, Tier 2 = From USD 500 million to USD 1 billion, and Tier 3 = < USD 500 million
Leading players in this industry have been profiled, along with their recent developments and other strategic activities. These include ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric (U.S.), Eaton Corporation Plc (Ireland), and Schneider Electric SE (France).
Why buy this report?
1. The report identifies and addresses key markets for power quality meter, and is therefore useful for suppliers and OEMs for reviewing production and distribution plans.
2. The report includes an analysis of key countries, by end-users of power quality meter. It analyzes historical trends and provides a forecast for 2021, which would assist in strategic decision making.
3. It presents a competitive landscape of the power quality meter market by analyzing recent market developments such as contracts & agreements, expansions, mergers & acquisitions, and new product launches from key global market players. It helps to understand competitive strategies and plan respective initiatives.
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