Power Quality Equipment Market

The global market for power quality equipment is projected to reach a valuation of US$48.3 Bn by the end of 2030.

Some of the biggest names in the global power quality equipment market are ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Schneider Electric (France), and General Electric (US).

In 2022, Asia Pacific constituted approximately 43% of the global power quality equipment market and will possibly register a notable CAGR of 7% from 2023-2030.

In terms of equipment type, the UPS segment dominated the market and captures more than 30% share in 2022. In terms of phase type, three phase segment constituted more than 60% share of the global power quality equipment market the same year. By end user type, the industrial category constituted more than 45% revenue share of the market.

The COVID-19 pandemic cast an adverse impact on the global economy that resulted in shutdown of manufacturing and industrial activities such as infrastructural development activities, supply chain issue, ban on import and export of electric items. All these factors created negative impact on the power quality equipment market.