Power Quality Equipment Market will grow to 29.74 Billion USD by by 2022
LONDON, May 15, 2017 /PRNewswire/ -- Highlights
• The power quality equipment market is projected to grow at a CAGR of 6.56%, from 2017 to 2022
• The global power quality equipment market is valued at USD 29.74 billion in 2017, and is expected to grow at a CAGR of 6.56%, from 2017 to 2022.
• Uninterruptable power supply is expected to have the largest market share by 2022
• With regard to the equipment segment, the Uninterruptable Power Supply (UPS) segment is expected to constitute the largest market by 2022.
• UPS is an electricity storage system that is used to reduce or avoid, negative effects and costs associated with electrical service outages and/or poor power quality.
The power quality equipment market is projected to grow at a CAGR of 6.56%, from 2017 to 2022
The global power quality equipment market is valued at USD 29.74 billion in 2017, and is expected to grow at a CAGR of 6.56%, from 2017 to 2022. The growing demand for protection systems for electronic devices, non-uniform power quality and network reliability issues, rise in alternative energy programs, and power quality standardization are the major factors driving the power quality equipment market. Although some cost bearing constraints in the installation of power quality equipment are being observed, emerging economies are expected to create better opportunities for the power quality equipment market. Cost and other related issues are expected to be the major challenges for growth in the power quality equipment market.
Uninterruptable power supply is expected to have the largest market share by 2022
With regard to the equipment segment, the Uninterruptable Power Supply (UPS) segment is expected to constitute the largest market by 2022. UPS is an electricity storage system that is used to reduce or avoid, negative effects and costs associated with electrical service outages and/or poor power quality. During outages, the stored energy is used to maintain power to specific end-users electricity using electrical and electronics equipment. The UPS also filter and otherwise offset power quality anomalies, continuously. It provide stable and reliable power to serve critical safety-related loads such as emergency lighting and medical equipment, reduce or avoid lost productivity, reduce or avoid production damage, avoid product or facilities damage, and reduce or avoid electricity using equipment damage. Due to its application at various end-user points, demand for UPS is the highest among all types of power quality equipment and the segment is expected to dominate the market by 2022.
Asia-Pacific: The fastest growing market for power quality equipment
The power quality equipment market is projected to grow faster in the Asia-Pacific region, especially in China and India. The Asia-Pacific region is moving towards clean energy on a large scale in order to meet its growing energy needs in an efficient way. India, China, and Singapore are some of the potential growing markets in the power and utilities sector. Asia-Pacific also offered the biggest potential gains for foreign direct investment and attracted 45% of all the capital investment, globally, in 2015. Increased investments in modernizing infrastructure and urbanizing populations, especially in developing economies such as China and India, is expected to drive the Asia-Pacific power quality equipment market. The Chinese market was, by far, the largest in the world in terms of infrastructure development in 2015. A rise in investments in smart grid technologies and smart cities that include distribution grid automation, smart meters, and demand response systems in countries such as Japan, South Korea, and Australia would create opportunities for the power quality equipment market.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-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- 60%, Tier 2- 27%, Tier 3- 13%
By Designation: C-Level- 35%, Director Level- 25%, Others- 40%
By Region: Americas- 40%, Europe- 19%, Asia-Pacific- 17%, Middle East-15%, and Africa-9%
Note: Others include sales managers, product managers, and design engineers
The tier of the company has been defined on the basis of its total revenue, as of 2013: Tier 1 = > USD 1 billion, Tier 2 = From USD 1 billion to USD 500 million, and Tier 3 = < USD 500 million
Some of the prominent players in the power quality equipment market 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.).
Research Coverage:
The report defines, describes, and forecasts the global power quality equipment market by equipment, by end-user, by phase, and by region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, challenges, winning imperatives, and key issues. It also covers various important aspects of the market.
Why buy this report?
1. The report identifies and addresses key markets for power quality equipment, which would help suppliers review the growth in the demand for the product.
2. The report helps solution providers understand the pulse of the market and provides insights into drivers, restraints, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.
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