Power quality equipment involves all types of equipment that help in ensuring stable, steady, and continuous power supply to various applications. Uninterrupted power supply system (UPS) system, power conditioners, reactors, energy meters, inductors, power meters, surge protective devices, harmonic correction unit, line voltage regulators, harmonic filters, static VAR compensators, frequency converter are a few power quality equipment widely used across the globe. UPS held the largest revenue share among all the indicated equipment in 2020. According to our latest market study on “Power Quality Equipment Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Equipment, Phase, and End User,” the market is expected to reach US$ 45,531.9 million by 2028 from US$ 28,499.6 million in 2021; it is estimated to grow at a CAGR of 6.8% from 2021 to 2028.
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Every industry across the globe requires a stable and uniform power supply to efficiently perform its operational functions. The developing regions face power fluctuation instances such as voltage sags/dips and swells due to abrupt increase in loads. Short circuits, loose connections, or faults can damage equipment, thereby leading to huge production and financial losses. Power quality equipment prevents such occurrences and provides a stable voltage supply. As North America is characterized by large manufacturing industries and a robust economy, it holds a significant market share for power quality equipment. APAC has enormous growth potential owing to fast-growing countries such as China, India, and Taiwan and developed nations such as Japan and Australia. Rising population, increasing disposable income, and rapid urbanization in APAC are factors propelling the demand for consumer goods. Several manufacturing industries work in tandem to meet consumer needs.
Telecommunications infrastructure has developed rapidly in the recent years. This new digital form of telecommunication infrastructure is adding more advanced telecommunication systems such as data centers, servers, and internet-related infrastructure as well as equipment to efficiently cater to voice and data transmission services. However, the modern telecommunication systems are more vulnerable to issues with power as the electronic components used for data transmission are more susceptible to sags/dips, swells, transients, and harmonics
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