Power quality equipment market expected to reach $49.6 billion by 2031: says AMR

Allied Market Research

Allied Market Research

The rise in building and construction activities and the rapid growth of manufacturing industry in developing economies is driving the growth of the global power quality equipment market. Based on the end user, the industrial segment contributed the major share in 2021. By region, on the other hand, the Asia Pacific region will show the fastest compound annual growth rate by 2031.

PORTLAND, Oregon, September 14, 2022 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, Power Quality Equipment Market It was estimated at $28.5 billion in 2021 and is expected to reach $49.6 billion by 2031, registering a compound annual growth rate of 5.8% from 2022 to 2031. The report provides a detailed analysis of the most important investment pockets, winning strategies, drivers and opportunities, market size and estimates competitive landscapes and evolving market trends. Market study is a useful source of information for new entrants, new entrants, investors and contributors in formulating strategies for the future and strengthening their position in the market.

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Report coverage and details:

prediction period

2022-2031

base year

2021

Market size in 2021

$28.5 billion

Market size in 203

$49.6 billion

compound annual growth rate

5.8%

Number of pages in the report

298

covered slices

End user, equipment, stage and region

drivers

The rise in construction activities in emerging countries

The rapid growth of manufacturing in developing economies

chances

Increasing investment towards the use of electrical energy consumption in various industrial activities

limitations

The negative impact of the Covid-19 outbreak

Covid-19 scenario-

  • Disruptions in industries such as energy, transportation, oil and gas, and transportation have reduced demand for electricity, negatively impacting the market for power quality equipment, particularly during the initial period of the pandemic.

  • Moreover, the interruption of construction of new electricity grid infrastructures, renewable energy plants, grid grid and other power plants due to shortage of skilled workers and increasing supply and demand gaps further hampered market growth.

  • However, the market has already started to recover at a rapid pace.

The global power quality equipment market is analyzed by end user, equipment, stage, and region. The report takes a comprehensive analysis of the sectors and their sub-parts with the help of tabular representation and graphs. Investors and market players can take advantage of the crash and devise scams based on the highest income generating and fastest growing sectors mentioned in the report.

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Based on the end user, the industrial segment contributed nearly three-fifths of the global power quality equipment market in 2021, and is expected to dominate by 2031. The segment itself will also display the fastest compound annual growth rate of 6.0% throughout the forecast period. Other sectors covered in the report include residential and commercial.

Based on equipment, the UPS segment accounted for nearly two-fifths of total market revenue in 2021 and is expected to dominate by 2031. The segment itself will also show the fastest compound annual growth rate of 6.2% throughout the forecast period. Other parts evaluated by the report include harmonic filters, surge protectors, voltage regulators and static VAR compensators.

Based on the stage, the three-phase segment held about three-quarters of the total market revenue in 2021, and is expected to dominate by 2031. The segment itself will also indicate the fastest compound annual growth rate of 6.1% throughout the forecast period. The single stage portion is also covered by the report.

Based on region, the market across Asia Pacific generated more than two-fifths of the global market revenue in 2021, and is expected to retain the lion’s share by 2031. The region itself will also be Show the fastest compound annual growth rate 6.3% during the forecast period. Other regions studied in the report include North America, LAMEA, and Europe.

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The major market players analyzed in the Global Power Quality Equipment Market report include Eaton Corporation PLC. and Emerson Electric Co., General Electric, and Honeywell International Inc. and Ametek Inc, Legrand, and Leviton Manufacturing Co. and Piller Power Systems, MTE Meter Test Equipment AG, and ABB Ltd.

The report delivers a detailed analysis of these major players in the global Power Quality Equipment Market. These market players have adopted many strategies including partnership, expansion, collaboration, joint ventures, etc. to highlight their prowess in the industry. The report is useful in formulating business performance, product portfolio, operating segments, and developments by major players.

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Allied Market Research (AMR) is a full-service market research and business consultancy of Allied Analytics LLP headquartered in Portland, Oregon. Allied Market Research provides global institutions as well as medium and small businesses with unparalleled quality.”Market Research Reportsand “Business Intelligence Solutions.” AMR has a targeted vision to provide business insights and consultancy to help its clients make strategic business decisions and achieve sustainable growth in their market space.

pawan kumar CEO, Allied Market Research, drives the organization towards providing high-quality data and insights. We are in professional corporate relationships with many companies and this helps us extract market data that helps us create accurate research spreadsheets and assures the utmost accuracy in our market forecasts. All the data presented in the reports published by us are extracted through preliminary interviews with senior officials from the leading companies in the respective field. Our methodology for acquiring secondary data includes in-depth online and offline research and discussions with industry knowledgeable professionals and analysts.

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