Power Quality Equipment Market Size Report and Future Opportunity Assessment Forecast 2022-2031

The power quality equipment market is expected to grow at a CAGR of more than 6.26%. Increasing power consumption is the core driving factor for the power quality equipment market. Moreover, stringent government regulations regarding reactive power and penalties implied on the end-users coupled with energy efficiency policies in various nations across the globe are expected to drive the market further. However, the effect of COVID-19 and the high cost of deployment and installation of power quality equipment are some of the factors which are expected to restrain the power quality equipment market during the forecast period.

– 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.
– To tackle the challenge of harmonic currents in data centers, companies are developing physical data center infrastructure supported by different types of devices that generate harmonics. This presents a major business opportunity for power quality equipment providers operating across the globe in the near future.
– North America is expected to dominate the overall power quality equipment market owing to the increasing digitization of several industries and utility infrastructure.

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Key Market Trends

Industrial and Manufacturing Segment is to Dominate the Market


– The industrial and manufacturing segment accounted for the major share in the power quality equipment market in 2019 and is projected to dominate the market during the forecast period. The Industry 4.0 initiative is being applied to vehicles and electrical machinery to facilitate remote diagnostics, remote maintenance, and remote data capture.
– These initiatives have increased 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 also 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.
– Therefore, based on the above-mentioned factors, the industrial and manufacturing segment is expected to dominate the market over the forecast period.

Power Quality Equipment Market Size Report and Future Opportunity Assessment Forecast 2022-2031
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