Power Quality Meter Market Worth 1,252.0 Million USD by 2021
PUNE, India, June 1, 2016 /PRNewswire/ --
The report "Power Quality Meter Market by application (Distribution Panels, Substation Monitoring, Equipment, and others), by End-User (Industrial, Commercial, Utility, Transportation and Others), by Phase and by Region - Global trends & forecasts to 2021" published by MarketsandMarkets, is projected to grow from an estimated USD 870.5 Million in 2016 to USD 1,252.0 Million by 2021, registering a CAGR of 7.5% from 2016 to 2021.
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Browse 67 market data Tables with 41 Figures spread through 150 Pages and in-depth TOC on "Power Quality Meter Market"
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Factors such as growing investments in transmission & distribution infrastructure and increasing industrialization & infrastructural activities are driving the global Power Quality Meter Market.
Industries & Manufacturing facilities-the key end-user of power quality meters
Power quality meters primarily find major application in industries & manufacturing facilities. In 2015, industrial and manufacturing was the largest segment of the Power Quality Meter Market, and accounted for the largest share of the total market. The meters are installed at the incoming of the power source to monitor the distortions in voltage and harmonics. Any distortions and fluctuations are harmful for the equipment such as motors, servers, and others. Power quality meters are used extensively to prevent damages to expensive and critical equipment. The increasing industrial growth across the developed and developing regions would in turn raise the demand for power quality meters.
Growing inclination toward three phase power quality meters
The report also segments the Power Quality Meter Market on the basis of phase into single and three phases. Three phase power quality meters have received widespread acceptance in the past few years due to the rapid industrialization & commercialization. The three phase Power Quality Meter Market is expected to grow at the highest CAGR during the forecast period. Single phase meters are portable and handheld and therefore are used by various electricians.
North America is expected to dominate the Power Quality Meter Market
In this report, the Power Quality Meter Market has been analyzed with respect to five regions, namely, Asia-Pacific, North America, Europe, South America, and the Middle East & Africa. North America is estimated to dominate the market, owing to factors such as industrialization, effective smart grid initiatives, high investments in the upgradation of transmission & distribution infrastructure, energy-efficiency measures, and renewable projects.
To enable an in-depth understanding of the competitive landscape, the report includes profiles of some of the leading players in the Power Quality Meter Market including ABB Ltd. (Switzerland), Siemens AG (Germany), General Electric (U.S.), Schneider Electric SE (France), and Eaton Corporation (Ireland). These players are trying to penetrate developing economies and are adopting various methods to increase their market share.
The report includes competitive landscape analysis for key companies. The report helps market participants to identify high-growth segments and assists them in making key investment decisions.
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Study Coverage:
The report segments the market by phase into single phase and three phase; by end-user into industrial & manufacturing, commercial, utilities, transportation, and others (labs and research & development centers); by application into distribution panel, substation monitoring, equipment, and others (capacitor banks and reactors); and by region into Asia-Pacific, North America, Europe, South America, and the Middle East & Africa. Each region has been further analyzed on the basis of key country-level markets.
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