Power quality equipment are used to ensure availability of high quality power supply to critical infrastructure and industrial sectors. Power quality equipment such as UPS systems, surge protectors and harmonic filters play a vital role in electric grids by stabilizing voltage levels and frequency. These equipment help in preventing equipment damage and disruption of operations due to power issues.

The global Power Quality Equipment Market is estimated to be valued at US$ 36.1 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

 

Market key trends:

Increasing investments in renewable energy projects are accelerating the demand for power quality equipment. Renewable energy sources such as solar and wind energy have intermittent power generation which affects the stability of electric grids. Power quality equipment help stabilize the power supply from renewable energy projects and ensure seamless distribution of electricity. For instance, harmonic filters play a key role in canceling harmonics caused due to non-linear loads in wind and solar power plants. Thus, the rising integration of renewable energy is boosting the power quality equipment market.

 

Segment Analysis

The global power quality equipment market is dominated by the transmission and distribution segment. This segment held around 40% share of the overall market in 2024 owing to the increasing installation of advanced transformers, circuit breakers, and protective relays at transmission and distribution substations.

 

Key Takeaways

The Global Power Quality Equipment Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global Power Quality Equipment Market is estimated to be valued at US$ 36.1 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2031.

The Asia Pacific region is projected to grow at the fastest rate during the forecast period. Countries such as China, India, Japan, South Korea, and Australia are witnessing rapid industrialization and infrastructure development which is propelling the demand for power quality equipment in this region. China held the largest share of the Asia Pacific power quality equipment market in 2024 due to rising investments in renewable energy and modernization of aging power grids in the country.

 

Key players

Key players operating in the power quality equipment market are Scientech Technologies Pvt. Ltd., Tektronix Inc., B&K Precision Corporation, Keysight Technologies Inc., Pico Technology Holdings Ltd., Rohde & Schwarz GmbH & Co. KG, Siglent Technologies Co. Ltd., Teledyne LeCroy Inc., Fluke Corporation, Yokogawa Test & Measurement Corporation, Rigol Technologies Inc., and National Instruments Corporation.


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