Others Segment has the Largest Share of Equipment in the South and Central America Power Quality Equipment Market during 2021–2028

According to a new market research study on “South and Central America Power Quality Equipment Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Equipment, Phase, and End User” is expected to reach US$ 1,915.4 million by 2028 from US$ 1,244.0 million in 2021. The market is estimated to grow at a CAGR of 6.4% from 2021 to 2028. The report provides trends prevailing in the South and Central America Power quality equipment market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the growing industrial manufacturing and processing sector are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the high cost of deployment and installation.

Owing to the COVID-19 outbreak, the region witnessed a notable decline in production volumes from major industrial sectors. Brazil is facing severe challenges in containing the spread of COVID-19. Industrial, commercial, and manufacturing are among the worst-hit sectors in SAM. Surge protective devices, power conditioners, harmonic correction units, power and energy meters, reactors & inductors, line voltage regulators, and frequency converters are among the various types of power quality equipment that are required at manufacturing plants and industrial sites. As many governments in this region announced strict containment measures, SAM witnessed a decline in manufacturing and industrial activities, which ultimately impacted the adoption of power quality equipment from respective end users. Additionally, this pandemic has affected the sales of spare parts and components related to power quality equipment. Consequently, the aftersales services of these equipment were also hit adversely. Moreover, the disruption of supply chains in the region has affected the market from the supply side. However, after the situation returns to normalcy, the demand for power quality equipment of various types is expected to witness promising growth in SAM.

The market for power quality equipment market is segmented into equipment, phase, and end user. Based on equipment, the power quality equipment market is segmented into uninterruptable power supply (UPS), static VAR compensator, harmonic filters, power quality meters, and others. In 2021, the others segment is estimated to account for the largest market share in the power quality equipment market. Portable power equipment, power conditioners, surge protective devices, power and energy meters, solid oxide fuel cell, static transfer switch, line voltage regulators, power distribution units, reactors & inductors, and frequency converter are other types of power quality equipment available in the market. Based on the requirement of the application, market players offer this equipment in various features, shape, sizes, efficiency, and accuracy all over the world. Client can also ask for customized power quality equipment.

Acumentrics., Emerson Electric Co., AMETEK Inc., Eaton., General Electric Company, Schneider Electric SE, Siemens AG, Toshiba Energy Systems & Solutions Corporation, Hitachi ABB Power Grids Group, and Piller Group GmbH are among the leading companies in the South and Central America Power quality equipment market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in March 2021, Acumentrics introduces SmartPDU, a new power distribution system which offers an unprecedented combination of convenience, flexibility, secure control, and system data. Such benefits ensure optimal operation of shipboard electronic systems along with the ability to accommodate changes and upgrades. 

The market for Power quality equipment market is segmented into equipment, phase, and end user. Based on equipment, the Power quality equipment market is segmented into uninterruptable power supply (UPS), harmonic filters, static VAR compensator, power quality meters, and others. Based on phase, the Power quality equipment market is segmented into single phase, and three phase. Based on end user, the Power quality equipment market is segmented into industrial and manufacturing, commercial, and others. Geographically, the Power quality equipment market is segmented into South and Central America (Brazil, Argentina, and Rest of SCAM).

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