What Fueled The Previous Growth In The Power Quality Equipment Market?
The power quality equipment market has seen considerable growth due to a variety of factors.
• In recent years, the size of the power quality equipment market has experienced significant growth. It's projected that it will expand from $26.2 billion in 2024 to $27.61 billion in 2025, with a compound annual growth rate (CAGR) of 5.4%.
The growth witnessed in the historical period can be linked to the expansion of industrial and manufacturing sectors, an increase in sensitive electronic equipment, a rising demand for a steady and pure power supply, an escalation in grid disturbances and voltage fluctuations, and regulatory standards governing power quality.
What Is The Expected Growth In The Power Quality Equipment Market Size?
The power quality equipment market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for a strong expansion in the power quality equipment market in the coming years. The market size is predicted to reach a value of $34.65 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.8%.
This projected growth during the forecast period is likely due to the rise of tailored power quality solutions for specific industries, the integration of Internet of things (IoT) and real-time monitoring, environmentally-friendly power quality equipment, and an increase in renewable energy integration. Additionally, the growth can be attributed to the rising use in electric vehicle charging infrastructure. Key trends for the forecast period incorporate power quality analytics and predictive maintenance, regulatory adherence for power quality equipment safety, smart and adaptive power quality solutions, energy storage integration for grid stabilization, and a collaboration between power quality and cybersecurity.
What Are The Leading Drivers Of Growth In The Power Quality Equipment Market?
The power quality equipment market is seeing significant growth, largely fueled by heightened government investments in grid modernization projects. These projects entail the updating and upgrading of the established electrical grid to heighten security, bolster productivity, and enable the incorporation of evolving technologies and emergent forms of electricity production and delivery, as well as the integration of green energy sources. As nations seek to improve their power infrastructure and assure reliable and steady electricity supply, demand for power quality equipment like voltage regulators, surge protectors, and uninterruptible power supplies is surging. These investments are vital in addressing power quality challenges, reducing downtime, and heightening overall grid effectiveness. They stand as a significant determinant of the power quality equipment market's growth. For instance, the Grid Deployment Office, a U.S.-based entity that aims to avail electricity to all by preserving and investing in key generation facilities, disclosed an investment of $10.5 billion in the Grid Resilience and Innovation Partnerships (GRIP) Program in October 2023. This investment, part of the Bipartisan Infrastructure Law, aims to enhance grid adaptability and harden the power system against the increasing menace of extreme weather and climate change. Hence, rising government investments in grid modernization projects are set to boost demand for power-quality equipment.
How Are The Segments Defined Within The Global Power Quality Equipment Market?
The power quality equipment market covered in this report is segmented –
1) By Equipment: Surge Arresters, Surge Protection Devices, Harmonic Filters, Power Conditioning Units, Power Distribution Unit, Uninterruptable Power Supply, Synchronous Condenser, Voltage Regulator, Digital Static Transfer Switch, Static VAR Compensator, Solid Oxide Fuel Cells, Isolation Transformers, Power Quality Meters, Other Equipment
2) By Phase: Single Phase, Three Phase
3) By Application: Industrial & Manufacturing, Commercial, Residential, Transportation, Utilities
Subsegments:
1) By Surge Arresters: Station Class Surge Arresters, Distribution Class Surge Arresters
2) By Surge Protection Devices: Type 1 Surge Protection Devices (SPDs), Type 2 SPDs, Type 3 SPDs
3) By Harmonic Filters: Active Harmonic Filters, Passive Harmonic Filters
4) By Power Conditioning Units: Voltage Regulators, Frequency Converters
5) By Power Distribution Unit (PDU): Basic PDUs, Metered PDUs, Switched PDUs
6) By Uninterruptable Power Supply (UPS): Online UPS, Offline UPS, Line Interactive UPS
7 By Synchronous Condenser: Fixed-Speed Synchronous Condensers, Variable-Speed Synchronous Condensers
8) By Voltage Regulator: Automatic Voltage Regulators (AVR), Ferroresonant Voltage Regulators
9) By Digital Static Transfer Switch (STS): Single-Phase STS, Three-Phase STS
10) By Other Equipment: Voltage Stabilizers, Capacitor Banks, Reactive Power Compensators
Pre-Book The Power Quality Equipment Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
How Are New Trends Expected To Influence The Growth Of The Power Quality Equipment Market?
Key players in the power quality equipment marketplace have built strategic alliances to meet their clients' needs and bolster their market stance. These strategic collaborations involve businesses utilizing each other's strengths and resources for mutual prosperity and success. For instance, in June 2023, US-based heavyweight turf manufacturer Deere & Company (John Deere) declared a strategic partnership with EGO, a US electric outdoor power equipment manufacturer, and Chervon, a Chinese producer of power tools and outdoor utilities. The aim of this association between Deere & Company (John Deere), EGO, and Chervon is to supply homeowners with an extensive selection of EGO's battery-operated lawn care goods through John Deere outlets. This union merges John Deere's market influence with EGO's progressive and environmentally friendly offerings. This union will enable customers to buy EGO-branded battery items through John Deere outlets. This collaboration is expected to contribute to the growth of the power electronics industry. As part of this deal, the brands will be capable of offering EGO battery-operated lawn care solutions to residences.
Who Are the Key Players in the Power Quality Equipment Market?
Major companies operating in the power quality equipment market include:
• Eaton Corporation plc
• ABB Ltd.
• Siemens AG
• Schneider Electric SE
• General Electric Company
• Toshiba Corporation
• Emerson Electric Co.
• Legrand SA
• Honeywell International Inc.
• AMETEK Inc.
• Piller Group GmbH
• Acumentrics Corporation
• Leviton Manufacturing Co. Inc.
• MTE Corporation
• Socomec India Private Limited
• Infinite Electronics Inc.
• Hitachi ABB Power Grids Ltd.
• Active Power Inc.
• Smiths Group plc
• Powervar Inc.
• S&C Electric Company
• Delta Electronics Inc.
• Mitsubishi Electric Corporation
• Rockwell Automation Inc.
• Fuji Electric Co. Ltd.
• SolaHD
• Eaton Corporation
• Phoenix Contact GmbH & Co. KG
• Panduit Corporation
• Littelfuse Inc.
What Is The Most Dominant Region In The Power Quality Equipment Market?
Asia-Pacific was the largest region in the power quality equipment market in 2024 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the power quality equipment market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
