Over US$ 68 Billion worth of Power Quality Equipment will be Sold Globally by End of 2026
The proliferation of digitization trends in the global telecommunications industry will keep fueling the sales of power quality equipment. Over the past decade, losses and transients associated with power transmission have increased. In the years to come, adopting power quality equipment to retain the efficacy of power distribution systems will be considered as a necessary measure. Furthermore, the world will eventually consume a lot more power than it does today, thereby necessitating the employment of power quality equipment. At present, Persistence Market Research has estimated the value of global power quality equipment market at US$ 44,162.3 Mn. The latest research report published by Persistence Market Research predicts that on the grounds of abovementioned drivers, the global market for power quality equipment will have reached US$ 68,757.2 Mn by the end of 2026.
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In the report, titled “Power Quality Equipment Market: Global Industry Analysis and Forecast, 2016-2026,” the global market for power quality equipment is anticipated to surpass US$ 50 Bn in revenues between 2017 and 2020. The report also projects lucrative growth across the Asia-Pacific excluding Japan (APEJ) region. The APEJ power quality equipment market will not only account for 30% share in global revenues but through 2026, the region will also register a resolute 6.3% CAGR. On the other hand, regions such as North America, Western Europe, Japan and Latin America will incur a downtick in their presence in global power quality equipment market.
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Leading manufacturers of power quality equipment in the world are also profiled in the report. These include manufacturing behemoths such as ABB Ltd., Eaton Corporation PLC, Mitsubishi Electric Corporation, Schneider Electric SE, and Toshiba International Corporation. Other companies prominent for manufacturing power quality equipment include National Instruments Corporation, Celestica Inc., EMOC Limited, Delta Electronics, Inc., AMETEK Inc., Hubbell Incorporated, Fluke Corporation, Cordyne Inc., Advanced Protection Technologies, Inc., LEA International, Unipower Cyber Power Systems, Inc. and Kyoritsu Electrical Instruments Works, Ltd.
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During the forecast period, the global market for power quality equipment will be majorly dominated by sales of power conditioning products. The demand for power quality testing & measurement equipment will also gain traction but at a marginal amount of less than 4% share on global market value. In 2017, global sales of harmonic filters are projected to bring in US$ 2,341 Mn, while the report also projects surplus sales of motor generator sets. The report also identifies telecommunications as the largest end-user industry for power quality equipment. The global telecommunications industry is expected to account for more than US$ 25 Bn value of the global power quality equipment market by the end of 2026.