Power Quality Equipment Market Trends 2025–2029: Forecasts for Key Growth Segments
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What Is The Anticipated Size Of The Power Quality Equipment Market Over The Five-Year Period 2025–2029?
The overall valuation of the power quality equipment sector has demonstrated consistent upward momentum throughout the past several years, projected to expand from a base of $26.2 billion in 2024 to reach $27.15 billion by 2025, reflecting a three-point-six percent compound annual growth rate. This prior expansion phase was primarily driven by the proliferation of industrial and manufacturing operations, the increasing reliance on delicate electronic apparatus, the necessity for uninterrupted and pristine energy delivery, the rising frequency of network disruptions and voltage instabilities, coupled with established governmental mandates concerning power quality specifications.
Anticipating robust expansion over the coming years, the market for power quality devices is projected to reach a valuation of $33.47 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 5.4%. This upward trajectory throughout the forecast window is underpinned by several key factors, notably the delivery of bespoke power quality systems tailored to distinct industrial needs, the incorporation of the Internet of Things alongside contemporary, continuous monitoring capabilities, a shift towards environmentally conscious and sustainable power quality apparatus, the broadening scope of renewable energy assimilation, and the escalating deployment within electric vehicle charging networks. Concerning prevailing market dynamics, significant movements involve sophisticated power quality data analysis coupled with systems designed for forecasting maintenance needs, adherence to evolving safety mandates governing power quality hardware, the advent of intelligent and responsive power quality technologies, incorporating energy storage mechanisms to enhance grid stability, and the merging of cybersecurity considerations with power quality management.
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What Are The Drivers Pushing New Developments In The Power Quality Equipment Market?
Substantial augmentation in governmental funding allocated toward evolving the electrical grid stands as a primary catalyst propelling the expansion of the market for power quality apparatus. Modernizing the grid entails upgrading the electrical infrastructure to boost safety and efficiency, enabling accommodation of emerging technologies, diverse generation and distribution methods, and the assimilation of sustainable energy resources; consequently, as nations prioritize fortifying their energy systems for a more consistent and dependable electricity provision, there has been a concomitant steep rise in the need for power quality gear, including components like voltage stabilizers, transient protectors, and backup power systems. These capital injections are vital for resolving power quality deficiencies, minimizing service interruptions, and elevating the system’s collective performance, thereby functioning as a key impetus for the power quality equipment sector’s growth. To illustrate this, in October of 2023, the US Grid Deployment Office, an entity focused on ensuring universal access to electricity through stewardship and funding of essential power facilities, unveiled a commitment of $10.5 billion directed toward the Grid Resilience and Innovation Partnerships (GRIP) Program, supported by the Bipartisan Infrastructure Law, with the objective of enhancing grid adaptability and bolstering the power network’s capacity to withstand escalating hazards associated with severe weather patterns and climatic shifts; therefore, the escalation in public sector expenditure on grid modernization initiatives is projected to directly translate into heightened purchasing of power-quality hardware.
What Are The Emerging Segments Gaining Attention In The 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
What Are The Major Trends Driving The Growth Of The Power Quality Equipment Market?
Power quality equipment industry leaders are concentrating on forging strategic alliances as a means to satisfy client requirements and fortify their standing within the marketplace. These tactical alignments involve companies pooling their distinct capabilities and assets to realize shared advantages and favorable outcomes. Illustratively, in the month of June in 2023, Deere & Company (commonly known as John Deere), an American enterprise specializing in manufacturing robust, heavy-duty turf machinery, publicized a strategic alliance forged with EGO, an American firm centered on battery-powered outdoor apparatus, alongside Chervon, a Chinese entity involved in power tools and external machinery. The joint effort uniting Deere & Company (John Deere), EGO, and Chervon aims to furnish residential users with a complete selection of EGO’s cordless lawn maintenance equipment, distributed via John Deere dealerships. This cooperative venture blends John Deere’s extensive market reach with the inventive, environmentally conscious offerings provided by EGO, enabling consumers to procure EGO-branded battery-operated items through the John Deere sales network, thereby aiding the advancement of the power electronics field; consequently, the involved brands will be equipped to offer EGO’s battery-driven lawn maintenance systems directly to households under the terms of this agreement.
Which Leading Players Are Enhancing Their Power Quality Equipment Market Presence Worldwide?
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.
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Which Region Is Expected To Witness The Fastest Growth 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.
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