Power Quality Equipment Market

• Rise in energy demand is driving the market growth

The market CAGR for power quality equipment is expanding rapidly due to rising energy demand. The largest quantity of electrical power being used at any particular time is called electricity demand. Power demand is rising globally as a result of a rapid uptick in different industrial activities and advancements in both developing and developed nations. For instance, the IEA report from July 2021 indicates a 5% increase in electricity demand, which is 1% more than in the previous year, 2020.

The residential, transportation, and commercial sectors are the top electricity consumers, followed by industrial processing and manufacturing. Power consumption has been continually increasing, which is what is essentially driving the market for power quality equipment. Critical market growth drivers include expanding the processing industry globally and its steady growth. The main motivation for power quality monitoring is the operations' economy, especially when major process loads are adversely affected. Examples of these implications on the equipment and process activities include improper operation, damage, disruption of the process, and other irregularities.

These interruptions are costly since a profit-based enterprise must be quickly stopped and restarted in order to continue production. Poor power quality can have a significant detrimental influence on industrial operations and production. Industrial operations require various levels of power quality, each with unique needs for certain aspects of power quality. For industrial end users, the cost-critical aspects of power quality include equipment failure, equipment downtime, product quality, and clean-up costs.

Technological innovation is a major trend gaining popularity in the market for power quality equipment. Major players in the power quality equipment industry are concentrating on creating cutting-edge technological innovations like high-speed transient monitoring to satisfy end-user expectations and improve their market share. For instance, Schneider Electric will release PowerLogic 10N90007 in November 2020. In order to prevent outages, equipment damage, failures, and the disruption of crucial activities, the ION9000T adds high-speed transient monitoring to the high-performance power quality equipment. Thus, driving the power quality equipment market revenue.

The Global Power Quality Equipment Market Industry is poised for substantial growth, with projections indicating a market value of 29.9 USD Billion in 2024 and an anticipated increase to 53.7 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate of 5.46% from 2025 to 2035, reflecting the increasing importance of power quality solutions across various sectors. The market's expansion is likely to be driven by factors such as technological advancements, regulatory compliance, and the growing demand for reliable power supply. These projections highlight the dynamic nature of the industry and its potential for future development.

The transition towards renewable energy sources is a pivotal driver in the Global Power Quality Equipment Market Industry. As countries invest in solar, wind, and other renewable technologies, the need for power quality equipment becomes more pronounced. Fluctuations in power generation from renewable sources can lead to instability in the grid, necessitating advanced power quality solutions to mitigate these effects. This shift is expected to bolster the market, with projections indicating a rise to 53.7 USD Billion by 2035. The integration of renewable energy into existing grids underscores the critical role of power quality equipment in ensuring a stable energy supply.

Stringent regulations and standards governing power quality are becoming increasingly prevalent globally. Governments are implementing policies that mandate compliance with specific power quality metrics to protect both consumers and industries. In the Global Power Quality Equipment Market Industry, adherence to these regulations is crucial for manufacturers and service providers. The need for compliance drives the adoption of advanced power quality equipment, which is expected to contribute to the market's growth. As industries strive to meet these regulations, the demand for power quality solutions is likely to increase, further solidifying the market's position.

The increasing reliance on electronic devices and systems across various sectors drives the demand for reliable power supply solutions. In the Global Power Quality Equipment Market Industry, this trend is particularly evident in industries such as healthcare, telecommunications, and manufacturing, where power interruptions can lead to significant losses. As of 2024, the market is valued at 29.9 USD Billion, reflecting the urgent need for equipment that ensures uninterrupted power. This demand is expected to grow as industries continue to digitize and automate processes, necessitating robust power quality solutions to maintain operational efficiency.

Global infrastructure development initiatives are significantly influencing the demand for power quality equipment. Governments and private sectors are investing heavily in upgrading and expanding electrical infrastructure to support economic growth. This trend is particularly evident in emerging economies, where the need for reliable power supply is paramount. The Global Power Quality Equipment Market Industry stands to benefit from these investments, as enhanced infrastructure necessitates advanced power quality solutions to maintain system reliability. As infrastructure projects continue to proliferate, the market is likely to experience sustained growth, driven by the need for effective power management.

Innovations in technology are reshaping the landscape of the Global Power Quality Equipment Market Industry. The introduction of smart grid technologies, energy storage systems, and advanced monitoring solutions enhances the ability to manage power quality effectively. These advancements not only improve operational efficiency but also reduce costs associated with power quality issues. As industries adopt these cutting-edge technologies, the market is projected to grow significantly, with a compound annual growth rate of 5.46% from 2025 to 2035. This growth is indicative of the increasing importance placed on integrating technology into power quality management.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American power quality equipment market area will dominate this market because the broadcast communications industry is becoming increasingly digital. Additionally, a rise in natural consciousness is projected to fuel industry expansion. The district's constantly growing modern and collecting areas, communications industry, and commercial region are major end-clients of power quality items.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Global Power Quality Equipment Market Share By Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe power quality equipment market accounts for the second-largest market share. One of Europe's main end-users of power quality equipment is the fast growing industrial and manufacturing sector, followed by the telecom and commercial sectors. Favorable government laws and increased investment in the area's power industry will likely boost demand for power quality equipment in Germany over the forecasted timeframe. Additionally, due to urbanization and population growth in the area, energy consumption has been rising rapidly in recent years. This is expected to result in a significant rise in the need for power quality equipment in Europe.

Further, the German power quality equipment market held the largest market share, and the UK power quality equipment market was the fastest growing market in the European region

The Asia-Pacific Power quality equipment Market is expected to grow at the fastest CAGR from 2023 to 2032. Some of the major end-users of power quality equipment in the region's developing industrial and manufacturing, communications, and commercial sectors. The Asia-Pacific area's manufacturing industry, with China producing most of the world's manufactured goods, is the primary driver of economic growth in this region. Moreover, China’s power quality equipment market held the largest market share, and the Indian power quality equipment market was the fastest growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the power quality analyzer market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, power quality equipment industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global power quality equipment industry to benefit clients and increase the market sector. In recent years, the power quality equipment industry has offered some of the most significant advantages to market.

Major players in the power quality equipment market attempting to increase market demand by investing in research and development operations include ABB Ltd. (Switzerland), General Electric Company (US), Schneider Electric (France), Siemens AG (Germany), Emerson Electric Company (US), Eaton Corporation Plc (Ireland), Active Power Inc. (US), MTE Corporation (US), Smiths Group plc. (UK) and Toshiba Corporation (Japan).

The company Schneider Electric SE (Schneider Electric), originally known as Schneider Electric SA, is a leader in developing automation and energy management systems. Some of its key offerings are automation and control products, low voltage systems and products, solar and energy storage, medium voltage distribution and grid automation, critical power, cooling, and racks. The business also provides cloud, consulting, training, field, automation, sustainability and energy services.

Technology company Smiths Group Plc (Smiths Group) offers a variety of products. It provides vital solutions for the energy and process sectors, medical equipment and supplies, tools for detecting and identifying security threats and illegal activity, high-speed networking solutions, and parts to heat and transfer fluids and gases. Customers can also make use of the company's post-sale services. Customers of Smiths Group include several governmental organizations, hospitals, contractors, petrochemical firms, service providers, equipment manufacturers, household appliance producers, and the US construction industry.