Global Trends in Power Quality Equipment Market Driven by Non-Uniform Power Quality and Network Reli

The power quality equipment market is expected to grow at a CAGR of 6.56%, from 2017 to 2022, to reach a market size of USD 40.85 billion by 2022. Non-uniform power quality and network reliability issues, rise in alternative energy programs, and power quality standardization are the major drivers of the power quality equipment market.

The power quality equipment market is dominated by a few major players that have a wide regional presence and are established brand names. The leading 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.). These companies have developed new products and implemented advanced production technology to bolster their product portfolios.

Don't miss out on business opportunities in power quality equipment market

https://www.marketsandmarkets.com/Market-Reports/power-quality-equipment-market-110225967.html

The report segments global market, by end–user, into industrial and manufacturing, utilities, transportation, residential, and commercial. The commercial segment is expected to grow at the fastest rate during the forecast period. Information technology initiative is being applied to vehicles and electrical machinery in order to enable remote diagnostics, remote maintenance, and remote data capture. This initiative has increased the need for datacenters, servers, and communication systems. As the demand for electronic equipment grows, the need for protection system also increases for continuous functioning of such critical equipment. Such initiatives are driving the market for power quality equipment in the commercial segment, which is expected to create new revenue pockets for the power quality equipment market during the forecast period.

With respect to the equipment segment, Solid Oxide Fuel Cells (SOFC) are expected to constitute the fastest growing market from 2017 to 2022. The rapidly growing demand for the SOFC market is driven by its ability to be used for various applications, fuel flexibility, and ability to utilize biomass efficiently. SOFCs can be used for developing portable, transportation, and stationary applications. For transportation, they are used to develop Auxiliary Power Units (APU); and military applications include portable batteries and other energy storage applications. They are also flexible when it comes to the type of fuel required as they can run on variety of fuel including natural gas, gasoline, diesel, and hydrogen.

The power quality equipment market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period. 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.

Increase in the number of data centers along with surge in IT hubs and commercial institutions such as banking facilities, healthcare units, and investments in distribution infrastructure is expected to drive the power quality equipment market in the region.

ABB, Ltd. is a leading power and automation technology company offering a wide range of products, services, and systems, namely, transformers, distribution automation products, high-voltage products, power transmission systems, grid integration systems, and others. The company operates in four segments, namely, power grids, electrification products, process automation, and discrete automation and motion. It offers power quality equipment under its electrification products division, which accounted for 26% of the company’s total net sales in 2016. The company has a wide array of products ranging from switches and sockets to robots, and from large transformers to control systems that manage entire power networks and factories.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=110225967

Eaton Corporation Plc is a power management company offering a wide range of products related to fuel-efficient systems and power chain management tools. The company operates in five business segments, namely, electrical products, electrical systems and services, vehicles, hydraulics, and aerospace. Eaton’s electrical business segment offers power distribution, power quality, control and automation, and monitoring products and services. The company offers power quality equipment through its electrical products division, which accounted for 35% of the company’s total net sales in 2016. The principal markets for these products are the industrial, institutional, governmental, utility, commercial, residential, and information technology sectors.

Browse more related reports –

Smart Transformers Market by Component (Converters, Switches, Transformers, Hardware for Transformer Monitoring), Type (Power, Distribution, Specialty, and Instrument), Application (Smart Grid, Traction Locomotive, Electric Vehicle Charging), and Region - Global Forecast to 2022

Distributed Control Systems Market by Industry (Oil & Gas, Chemicals, Power Generation, Metals and Mining, Pharmaceutical, Paper and Pulp, Food and Beverage), Component (Hardware, Software, Services), Application, and Region - Global Forecast to 2022

Surge Protection Devices Market by Type (Hard-Wired, Plug-In, and Line Cord), Discharge Current (Below 10 kA, 10 kA–25 kA, and above 25 kA), End-User (Industrial, Commercial, and Residential), and Region - Global Forecast to 2022

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues.