North America Power Quality Equipment Market

Market Introduction

This research report provides insights into the “North America Power Quality Equipment Market.” This report summarizes the results of the assessment carried out by The Insight Partners in the field of power quality equipment for regional perspective. The report provides an analysis of the power quality equipment by equipment, phase, end user, and country. The report provides the current market size for power quality equipment defines trends and presents growth forecast for 8 years, i.e., from 2021 to 2028.

Thus, the growing industrial, manufacturing & processing sector are expected to create a significant demand for Power quality equipment in the coming years, which is further anticipated to drive the power quality equipment market.

The North American market had to undergo considerable economic loss during the first two quarters of 2020 owing to the high number of COVID-19 cases, particularly in the US. Due to various limitations and restrictions, manufacturing, construction, metal & mining, and commercial industries witnessed a decline in production, thereby leading to an economic slowdown. Also, the imposition of stringent containment measures allowed operations only with a limited employee count. This hampered the overall production in the US. Power quality equipment help in supplying uninterrupted power for various distinct applications; however, the demand for uninterrupted power supply decreased significantly with the drop in the number of visitors to hotels and malls. Furthermore, as educational institutes were closed, the requirement of power quality meters in laboratories decreased considerably. However, as companies began switching to work-from-home, the demand for uninterrupted power supply (UPS) systems—specially designed and manufactured for residential purpose—raised significantly. The power quality equipment market is expected to experience steady growth in North America when economies return to normalcy in the coming years.

North America Power Quality Equipment Strategic Insights

Strategic insights for the North America Power Quality Equipment provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Power Quality Equipment Report Scope

North America Power Quality Equipment Regional Insights

The geographic scope of the North America Power Quality Equipment refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The Power quality equipment market in North America is expected to grow from US$ 10,620.3 million in 2021 to US$ 15,963.1 million by 2028; it is estimated to grow at a CAGR of 6.0% from 2021 to 2028. In the wake of global warming due to rising carbon pollution from burning fossil fuels, coal, and natural gas, the demand for renewable energy sources is increasing gradually. This, in turn, is creating an opportunity for power quality equipment market, as a significant increase in the number of renewable power generation projects is expected in upcoming years. This focus on renewable energy projects is anticipated to increase the demand for power quality equipment to measure the quality of the power generated in distribution substations. Renewable energy is gaining traction over the conventional energy sources. This can be attributed to factors such as zero carbon emissions, reduced air and water pollutions, and economical production of electricity. Also, the market is expected to grow at a fast pace as many governments across the globe are providing financial incentive for adopting renewable energy projects. For instance, the US government is providing Renewable Electricity Production Tax Credit (PTC), Investment Tax Credit (ITC), the Residential Energy Credit for investing in renewable energy, as well as using it in the residential sector. Also, the US Department of Energy (DOE) and the US Department of the Interior offer loan program and provide financial subsidies for the installation of renewable energy equipment. Thus, all the initiatives from various governments for renewable energy infrastructure are anticipated to boost the adoption of power quality equipment at distribution substations and subsequently proliferate the market growth in the coming years.

Key Market Segments

In terms of equipment, the others segment accounted for the largest share of the North America power quality equipment market in 2020. In terms of phase, the three-phase segment accounted for the largest share of the North America power quality equipment market in 2020. In terms of end user, the industrial and manufacturing segment held a larger market share of the power quality equipment market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the Power quality equipment market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Acumentrics.

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Reasons to buy report

• To understand the North America Power quality equipment market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for North America Power quality equipment market
• Efficiently plan M&A and partnership deals in North America Power quality equipment market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America Power quality equipment market
• Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

NORTH AMERICA POWER QUALITY EQUIPMENT MARKET SEGMENTATION

By Equipment

• Uninterruptable Power Supply (UPS)
• Harmonic Filters
• Static VAR Compensator
• Power Quality Meters
• Others

By Phase

• Single Phase
• Three Phase

By End User

• Industrial and Manufacturing
• Commercial
• Others

By Country

• North America
  • US
  • Canada
  • Mexico

Companies Mentioned

1. Acumentrics.
2. Emerson Electric Co.
3. AMETEK Inc.
4. Eaton.
5. General Electric Company
6. Schneider Electric SE
7. Siemens AG
8. Toshiba Energy Systems & Solutions Corporation  
9. Hitachi ABB Power Grids Group
10. Piller Group GmbH